Buying a condo in Philippines
Questions for you DS and GE and anybody else that can answer this question:
I am thinking of purchasing a condo as an investment maybe around Makati area or Metro Manila? What do you guys think will be the problems with this? I am unfamiliar with the area in terms of appreciation and quality built. From the last time i was around metro manila the quality of material used and craftsmanship did not seem to be there like in the good old USA but not sure if that has changed. I did an analysis of the cost vs renting it out and found a positive cash flow if financed 30 years like here in USA.
My question is will it hold up for thirty years? will it appreciate? if not what would be the point?
Would other areas like Davao or Cebu be a better choice? What do the condos sell for in Davao?
Condos and Homes in the Philippines
Stand In 1
Thankyou for the valuable input. This is an area which I am very interested in now. Because of my two children I can purchase Homes and Land in the Philippines. I do think that condos are the easiest ane wisest choice. Still uncertain about financing in the Philippines. I hate to put a mortgage on my home in the USA. I may wish to sell it shortly and this gives me maximum flexibility.
The condos in the Davao area have me interested now. The real estate agent I have been using has a lot of knowledge of this but absolutely no concept how to deal with westerners, in spite of claiming 5 years in NYC (GE says she most likely lived in an area of only filipinos with her former filipino husband). She keeps thinking you simply will pay the full asking price and just do a 100% cash deal. No negotiating on the price and no financing,or asking the owner to do a "carryback".
I will be investigating this further in a few weeks .
Dragon Slayer
Manila information request
Guys.
This goes particularly to the Japanese men reading my Forum. Has anyone visited a Club called "Pub 1814"? Please post here or PM me with information about how the Club works, women there and their availability.
My last night was spent at the Dusit Hotel. I dined at Tosca's Italian Restaurant and was in an elegant room with kingsize bed. The food was excellent but they were slow handling checkout before dawn and the p1700 charge to drive you to the Airport was an outrage. I want to check out some new places on my return.
Dragon Slayer