Manila

[QUOTE=LostWithinDays;1971845]Hi all,

Thanks for all the replies to my question.

I realize 2 mill pesos is quite a low price but I simply have other commitments over here.

I was looking actually at a 1 bedroom studio, on a high floor.

In relation to rental income I'm not fussed as a foreigner I understand I will get screwed over by agents and the like over there, so any rental would be bonus.

Are management fees quite high?

I realize that very much depends on the property in question?

Cheers again, LWD.[/QUOTE]Where I was living previously in Makati a 34 sqm 1 BR condo is about p4 million w / o parking. This building is a 5-minute walk from Makati Medical Center, making this a good location but not an overpriced one such as beside Greenbelt. Condo association fees are based on the size of the unit, and they were about p2000 per month. I know of other condos, in particular prestige addresses, w / much higher fees. Water is about 300-400 per month. Electricity is the killer, and the larger a place the more expensive to cool it. My most expensive monthly cost there was about p6000 and the least was p3000. I'm in a 52 sqm place now but Pasay.

The most important thing re rental to others is make sure the condo bylaws permit it.

Arrived quite late in LA Cafe Saturday night. Got an advice from a French guy not to pay more than 1500 PHP to the girls. He claimed he stayed in Manila for 6 years and never offered more. Well. I followed his advise. And it worked! Got a quite nice girl for 1500 PHP and she stayed until 11 in the morning. A good deal. And she was fairly enthusiastic in the bed however a little shy. Quite many young girls (around 20 years old) arrived LA Cafe when I left at 2 AM. They were slim and pretty so the selection some nights seems OK. For quality versus price I think LA Cafe is still the best option in Manila.

As we are on the condos issue I was debating purchasing a condo but I have a few questions.

How are condos managed. A top condo from 2000, 15 years later, I imagine many rich families have moved to a newer more luxurious condo, so as a building gets older the quality & the means of its occupants must decrease and perhaps less money is invested in the maintenance / upgrade of the building.

What is the resale value of a condo after 10,15 or 20 years? Guys with money will always want the new condo it's not like Paris or London where a 100 years old building could still be in perfect condition.

What is the avg sqm price of a new unit vs a year 2000 unit?

Or maybe buying a unit from 2000 is a good way to make sure the building has a good construction and is properly maintained).

In 2016 is it still worth it to buy or are we in a bubble and the price will go down in the years to come?

Another reason I have (at least for now) refrained from buying is the fact is you look at condo towers at 8 or 9 PM when all lights should be on, actually very few are on. They keep building condos and they are largely unoccupied. That is not a good sign for the future.

A final question, can you negotiate the price of a new unit let's say Ayala or SM. I mean in major European cities for new building there is 0 hope to negotiate (unless maybe for the last few unwanted units with turn offs) because the promoter built his balance sheet and in central Paris or central London the units will be sold before the building is complete.

[QUOTE=EscortFan;1976493]As we are on the condos issue I was debating purchasing a condo but I have a few questions.

How are condos managed. A top condo from 2000, 15 years later, I imagine many rich families have moved to a newer more luxurious condo, so as a building gets older the quality & the means of its occupants must decrease and perhaps less money is invested in the maintenance / upgrade of the building.

What is the resale value of a condo after 10,15 or 20 years? Guys with money will always want the new condo it's not like Paris or London where a 100 years old building could still be in perfect condition.

What is the avg sqm price of a new unit vs a year 2000 unit?

Or maybe buying a unit from 2000 is a good way to make sure the building has a good construction and is properly maintained).

In 2016 is it still worth it to buy or are we in a bubble and the price will go down in the years to come?

Another reason I have (at least for now) refrained from buying is the fact is you look at condo towers at 8 or 9 PM when all lights should be on, actually very few are on. They keep building condos and they are largely unoccupied. That is not a good sign for the future.

A final question, can you negotiate the price of a new unit let's say Ayala or SM. I mean in major European cities for new building there is 0 hope to negotiate (unless maybe for the last few unwanted units with turn offs) because the promoter built his balance sheet and in central Paris or central London the units will be sold before the building is complete.[/QUOTE]1. Only buy from a good developer.

2. All the good condos are bought in pre-sale meaning before it goes on sale to general public. To get on these lists you need to know a good realtor.

3. Ayala will not be building any more high end condos in central Makati till 2021.

4. Not much room to negotiate unless you either pay in full in cash or off plan ie before building is built.

5. There are a lot of empty units as some developers have built crap they can't sell in both Makati other parts Manila and BGC.

6. Check what mgt fees are. They do vary. Make sure you know to pay real estate tax every year.

7. The most recent one I sold had made about 75% over 10 years.

8. You are correct, newer is better but newer units are also smaller.

9. Location location location.

10. I have bought and sold and bought again. Will probably hold onto to the ones I still have as the airbnb market is getting stronger all the time.

[QUOTE=FreebieFan;1976556]1. Only buy from a good developer.
{S N I P}
5. There are a lot of empty units as some developers have built crap they can't sell in both Makati other parts Manila and BGC..[/QUOTE][B]How do you define a good developer?[/B] Unless you have lots of contacts, it is a bit hit or miss. I bought condo in Bellagio 2 (off the plan) from Megaworld Corporation. People I asked stated that they had a good reputation. But they subcontract a lot of work and their project managers are either hopeless or corrupt. For example they used concrete instead of grouting in the bathrooms, and the final layout was different from the floor plan with unusable space between the bathrooms. I could go on and on! And then Freebie tells that Megaworld are shit developers!

A lot of condos have been bought by Filipinos working in the USA They plan to retire to the condo when they can afford. This is another reason why there are so many vacant units.

Ikks.

Greetings.

Please. For the benefit of those interested in real estate investment. Can we start a fresh thread for this purpose. As the manila thread is getting hard to separate the mongering information from the investment information.

Thanks a lot in advance.

Regards.

G.

[QUOTE=Ikksman;1976637][B]How do you define a good developer?[/B] Unless you have lots of contacts, it is a bit hit or miss. I bought condo in Bellagio 2 (off the plan) from Megaworld Corporation. People I asked stated that they had a good reputation. But they subcontract a lot of work and their project managers are either hopeless or corrupt. For example they used concrete instead of grouting in the bathrooms, and the final layout was different from the floor plan with unusable space between the bathrooms. I could go on and on! And then Freebie tells that Megaworld are shit developers!

A lot of condos have been bought by Filipinos working in the USA They plan to retire to the condo when they can afford. This is another reason why there are so many vacant units.

Ikks.[/QUOTE]

[QUOTE=Gunners1;1976823]Greetings.

Please. For the benefit of those interested in real estate investment. Can we start a fresh thread for this purpose. As the manila thread is getting hard to separate the mongering information from the investment information.

Thanks a lot in advance.

Regards.

G.[/QUOTE]I agree, although a more inclusive thread would be "Housing" to include condo purchases, long-term house rentals, etc. As distinct from hotels and short-term condo rentals. I've rented one house, one apartment, and one condo long-term with varying results and lessons learned.

[QUOTE=Gunners1;1976823]Greetings.

Please. For the benefit of those interested in real estate investment. Can we start a fresh thread for this purpose. As the manila thread is getting hard to separate the mongering information from the investment information.

Thanks a lot in advance.

Regards.

G.[/QUOTE]The Living in the Philippines thread already exists - [URL]http://www.internationalsexguide.info/forum/showthread.php?1512-Living-in-the-Philippines[/URL] . You may want to migrate this discussion there. You may also create a more tightly focussed user blog in the same section of the forum, naming it anything you like, for example Real Estate Investment.

[QUOTE=LukeSkywalker;1970991]How much do those day-long dates cost in Manila or Cebu or Davao or China?[/QUOTE]Like a regular date they can be as cheap or as expensive as you want. Coffee, Movie or Sights, Lunch -- Cheap, if she is incredibly hot then Italian, cocktails, dancing -- Not Cheap.

Froggie.

Does anyone know of the ride share app similar to uber? I had a hotel person help me twice using their app and the person came quickly nicer car and cheaper than taxi. I think it was called or sounded like Zenni or Venni or something similar. I paid in pecos / cash to the driver at the end of the ride.

Appreciate any information.

JR.

[QUOTE=JusRide;1979279]Does anyone know of the ride share app similar to uber? I had a hotel person help me twice using their app and the person came quickly nicer car and cheaper than taxi. I think it was called or sounded like Zenni or Venni or something similar. I paid in pecos / cash to the driver at the end of the ride.

Appreciate any information.

JR.[/QUOTE]Grab Taxi. Download the App. I think it is better thAn Uber. More cars.

Hi,

I will be in Manila for only 2 nights on the week starting 23/01, with days already overbooked with work.

I will not have time to spend hours in Burgos to find the right lady. Any quick wins or tips to find a clean short-framed slim young lady?

Appreciate your help.

S.

[QUOTE=Fkss1011;1981364]Hi,

I will be in Manila for only 2 nights on the week starting 23/01, with days already overbooked with work.

I will not have time to spend hours in Burgos to find the right lady. Any quick wins or tips to find a clean short-framed slim young lady?

Appreciate your help.

S.[/QUOTE]Manila is a huge city with heavy traffic congestion, you probably won't have time to spend hours in traffic, either. It would help to know what part of Manila you are staying in.

[QUOTE=SaltyPete;1981402]Manila is a huge city with heavy traffic congestion, you probably won't have time to spend hours in traffic, either. It would help to know what part of Manila you are staying in.[/QUOTE]Hi,

I will be in Makati, at the Peninsula.

S.

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[QUOTE=Fkss1011;1981364]

I will not have time to spend hours in Burgos to find the right lady. Any quick wins or tips to find a clean short-framed slim young lady?

[/QUOTE]If you're short on time, meet-up apps are the way forward. SKOUT has been very useful because it's location based so you can see how far away the girls are before you send messages. Tinder is good but takes a few days to heat up. Badoo is also worth a try.