The average MM condo price is ₽4M or $68K. This wont even meet the price of house In Compton, LA or distant San Bernardino. The house value In Wyoming is “insanely” affordable at $380K but youll have horse and cattle as neighbors.
What I noticed WHY Philippines condo price is so high 1 of the reason is because people are ALSO buying the kind of location, where the condo is built, like if a condo is VERY NEAR a MALL like 6 mins walk or less, price is higher compare to other condo buildngs that is far to walk because you dont need to used your car often, another like BGC WHY condo there is SO EXPENSIVE??? Aside from being modern, clean, safe, etc, because of the QUALITY of that area, IF a person buy a condo OUTSIDE BGC, price of his condo DONT INCREASE as fast as condo inside BGC because his condo IS NOT PART of BGC, also THERE are AREAS in BGC that is 100% NOT FOR SALE, like garden parks, play court areas, etc, so where will Ayala land PUT the price to those FLAT LAND that are NOT FOR SALE??? of course to all the land that is FOR SALE in BGC, 2nd reason is SUPPLY n DEMAND, Metro Manila LAND SIZE is only 638 km² but the population is 14 M, and still RAPIDLY INCREASES, remember the price of Onion, chilli pepper, sugar became TOO HIGH? because of SUPPLY & DEMAND, the less supply rhe more people it became HIGH, the FEWER the LAND SPACE to built condos in Metro Manila or a particular city the higher the price will be of that land,
I dont buy that condos are good investment especially in today's economy. Imagine a 42sqm condo with a 5M price tag will cost you a minimum of 42k in monthly amortization for 15years, this excludes the real property tax, condo dues and other maintenance. If you're going to rent it out, it will still be way much less than your monthly unless you are in the heart of BGC or Makati. It's still better to rent these days as there are lots of un-occupied units all over the metro. Do your research and don't believe right away to anyone selling you that condos are good investments.
true. I know someone who bought a condo because the agent made her feel FOMO. Now her condo is a sitting duck right now - not earning a single centavo. Apparently, the vacancy rates on her area, not just her building, is also high. Now she's paying for a very expensive condo without any prospect.
Agree. Manila was basically flattened in 1946 after World War II. That was less than 100 years ago… manila is sitting right on top of a fault line, which can crack any time. Between a huge earthquake or a potential invasion by another superpower. No thank you.
I don't want to hear anything from Filipinos because it's biased. As you can see, he did not answer the question about the demand and supply of condos. He encouraged people to invest but never addressed the issue. The rent-to-income ratio is higher compared to the minimum wage of Filipinos; you would need to have at least three jobs to afford living in a condo. Of course, he’s not going to tell the truth because his business is to manage condos for Filipinos working abroad, and he’s unlikely to mention anything negative about it. I wish they were more transparent about the economy so that they could better guide other Filipinos, especially those who lack knowledge about investing. This topic might benefit his business, but it doesn’t help Filipinos who bought condos that are now sitting empty due to a lack of renters. There are no jobs and no opportunities.
@@metalgear7508 He meant what comes down will eventually bounce back up. He used the wrong words, but the meaning is correct. You just don't know about real estate markets, perhaps?
2:29 “it’s like gravity, it goes down, it goes up.” Punyeta, kelan pa umaangat ang gravity? May bagong discovery ba sya at mali na Newton’s Law of Universal Gravitation? Mema ang walangya.
No crisis, it’s just a hyper supply not oversupply according to the guest who is a real estate investor and admitted he owns several condos. In reality, condos are oversupply and overpriced! Bubble will burst.
Ang ininterview nyo eh ahente! Hindi analyst! Over supply. Overpriced! Bad investment na ang overpriced condo sa metro manila. Susme common sense na lang hindi na kelangan ng sobrang analysis.
@@arielgerardservillon3200 hindi ka nakaka-intindi ng market cycle ng real estate. Bakit yung mga taong walang condo sila pa ang nagmamadunong sa may maraming condo hehe.
@@tollbridgeahead1034 Simple.. sila yung nag papa airbnb at nagpapa renta sa mga potential titira ng atleast isang taon. Airbnb mga 1week to a month lang yan. Kumbaga hindi naman sila yung titira dun. May 4 condo kami na noon pa nabili bago pa magka oversupply, ganun din gawain ng iba ko kasama sa negosyo na may condo sa north south at visayas at mindanao. Target namin lagi mga foreingers (expat) o malalapit sa opisina at school. May contrata na din yung iba sa kumpanya na malapit. Sinira ng oversupply ang market ng real estate.
@@kaychua1262 definitely brain washing. While true, the person wasn't very honest when this rise will occur. It can happen in a few months to even a decade! And even in a few months, some developers will fail and might not be able to deliver their projects kasi nga oversupply.
Imposible to lower the price of condo in Metro Manila IF the price of that land that is bought is already SO HIGH, the reason is because of POPULATION VS LAND SPACE, SUPPLY & DEMAND land space of Metro Manila is 638 km² where the population is almst 14M, there are ALMOST NO MORE SPACE in Metro Manila to build new condos, 1/3 of Metro Manila are Squaters area, where only 2 flrs are built instead of 40 fls buildng, Same area are legal houses, remember why Onion, chilli pepper, sugar became TOO EXPENSIVE??? because of SUPPLY & DEMAND, the lower the supply of LAND SPACE the more people LIVE in rhat place the HIGHER the pruce of that land, check Quezon ciry why is it CHEAP, look at the LAND AREA of Quezon ciry VS QC population,
In my opinion, a condo is not an investment. Better buy listed forclosed properties or an open lot; remember, condos have a life span and will be demolished when they are dilapidated.
Comparing condo prices of the same kind & sizes of other Asian countries like Thailand, Vietnam, Malaysia, China, Cambodia,etc, Philippine condo price is TOO HIGH, doble priced to nearly double price, tax is SO HIGH, condo price in the Philippines is almost same in Singapore, Dudai, Hongkong, London, USA, UAE, Philipines is a 3rd world country so WHY putting price THE SAME as to First world countries??? ITS CRAZY, tax jn the Philippines before is only 3% but now 12%.
Exactly. Prices are at par at the best cities in the world. Less the convenience. Utility prices (electricity/water/association dues) are sky high. Add to that, food prices in these cities are expensive as well. Buying a condo is not an investment. If you buy one, you’ll get your ROI after 100 years
As i said above, the target market have already left the table. No good thinking pinoy will buy a condo for an investment. Its strategically a dead mans last choice.
I don’t share his optimism. There won’t be a crisis for as long as property owners can pay their mortgages. Any adverse movement in interest rates can wreak havoc on the market
It's now a buyer's market. Time to negotiate at least 25% or more. Bubble finally burst in Philippines. It may take 3 or more years to recover. There's more
patay ang investor pagManiwala sa kanya... same feature lng din ni lee chiu.. maski mahirap na talga mag rent out ng unit ngayun --- GOOD investment pa rin daw
"Expert" looking to sell properties. 😂 Most of the large developers have the organizational and marketing muscle to sell to buyers of affordable housing, but they're insisting on developing higher-end projects. Risky naman talaga low income buyers so no judgements here. Mas madali talagang magbenta sa mga may surplus liquidity. But if viewed in terms of cause and effect, it explains why there are a lot of condos that most people cannot afford, and a shortage of affordable housing for the ones who truly need them. It's not so much an oversupply crisis but a crisis of imbalance.
i'm none the wiser from what the expert is advising, the wisdom from comments below say it all! keeps on harping about the "bank rate", the question is they are building not for the locals but for the expats (mainly non Filipinos) such disconnect, ie out of this world. Build pa more greedy developers!
walang transparency, we need numbers hindi lang puro sales talk. Dapat merong price adjustment katulad sa ibang bansa. POGO is their great market, eh wala na sila.
Its not supply and demand, its hyper supply with no demand. Nobody's goong to buy it, certainly no locals or just a few but not for investments. Expats can go somewhere chill with less traffic and more convenient and safer so why choose Manila?
The guest said what he's supposed to say, because he's a real estate broker. I would've been more surprised if he said this is not the best time to buy. Too much supply = lower rents and lower capital appreciation, that's the truth.
There is a bubble and a good time to buy? Hmmmn. I think this guy doesnt know what he is talking about. A bubble will burst sooner of later. In my opinion, an average price of 200K per square meter for a condo project is way overpriced. Compare that to the average price on year 2004 at 30K per square meter.
good decision to purchase a condo way back 2018 for around 1.7M. Right now, it's around 4.2M and is still currently tenanted for years already. When this news broke out, I already conditioned myself that property prices will cool down. But to my surprise, the last tower in our condo was at 90% of the units being sold out! I realized property prices are really hyper-local, what happens in one city does not necessarily mean it will also happen in the other. And of course, when you invest in a property, you always need to have an exit strategy. Don't ever fall in love with your investment, When it's the right time, let it go gracefully.
what do you mean by "the last tower in our condo was at 90% of the units being sold out"? Did you mean that the price was discounted at 90%? Sorry, still trying to learn the industry. Also, may I ask what place is this condo? Is this also in BGC? TIA
@@whatisthematter88 90% sold out na yung buong project the last time I checked it and that was way back April this year. so most likely total sold out na sya now
@@jenniferinocencio8945 ahhh you're sadly mistaken. Ofw's aren't the market for 1million dollars and up high end units nor are Pinoys abroad the market for 4m dollars and up House and lots in the Philippines
of course he's saying that its okay because he's in real estate business. but in reality its like a bubble thats ready to burst. be ready for a crash in price in the coming years. too much supply but no buyers because condos are so expensive. those who have the money to buy a condo already bought one.
He forgot to tell that many buyers defaulted last few month and these condos return to market. This is not a one time effect expect more defaults in the future. 6,000 “backouts” aka defaults since q3 expect more defaults
The guest did not discuss about the local government increasing zonal value, so to be able to collect, more taxes. And the developers are taking advantage of this scenarios. But when condo unit owner wants to sell his or her, the zonal value is never followed.
Did he seriously say now is the best time to buy amidst the current condo crisis? What a joke. My advice is to avoid buying a condo. Dig deeper and do your due diligence.
Temporary for 10 years 😅 Best time to buy kung may pang 50% dp ka. Hyper supply? Super duper supply kaliwat kanan ang condo. Cashflow? Taasan mo ung dp mo para sure kahit bagsak rate ng renta positve cashflow. Several condos all fully paid sana all. year 2014 below 3m lang malupet na condo mo.
It's all about location, location, location... Even within Makati City, you can walk 15 minutes, and see condo prices ranging from $25,000usd to $4,000,000 usd... There are just some very specific neighborhoods that are super expensive, and the new developments are also catering to the super rich ..
are they all spokes person for condo developers? nobody seems articulate clearly that these condo properties are over priced. 250k/sqm? one of the issues why prices are so high is that the buying public lacks the intelligence or smarts to realize that the real estate market is overpriced. the market is manipulated by the big banks and developers. bdo =smdc, bpi - ayala, metrobank - megaworld. heard of anti-trust?
This is the sad reality about housing in the Philippines! SMDC & DMCI is exploiting the situation by selling overpriced condomimiums just for a small space. Even an average employee cannot afford it. This hyper supply might last long until this greedy developers adjusted their pricing.
American remote workers are getting called back to work in the office a few days a week. Artificial Intelligence call centers are also going online. If your condo is empty better Lower the price now. When I went to Manila I rarely saw any of my high rise condo neighbors. The building was mostly empty.
It’s time to give buyer more incentives,discounts, more better or lower rates it’s that simple rather than builders finds theirselves stuck on over build or excessive inventory! I will grab the opportunity to own condo specially in Manila.
Condo Oversupply Surging, House And Lots Next. Eyeing A 9m Condo In Makati Told Sometime In September That Price To Increase To 12m. But Price Just Drop To 5.8m 🤔
Drive around and you can see all of them. Gawin na lang low cost housing o relocation for squatters living by rivers or creeks or ghost towns like in china 😊
Condo prices goes up but rent doesnt hahaha..dito sa Pampanga sa clark nagpapagawa kami ng condo dahil its ideal and relaxing and a staycation option for those in manila and also an accomodation for foreign retirees...why would you buy a condo in manila its too stressful!!
I didn’t hear any explanation why oversupply is temporary & how to resolve this issue; will this be a case of depreciation vs appreciation? It would be more realistic if they say 68 months instead of 34 months.
Why buy kung di naman kailangan, marami naman supply. Better invest siguro real Lot but not condo na pagkasikip sikip 😊 di rin mapamana sa anak, some last for how many decades lang. Unlike Lote talaga
It hasn’t popped yet kasi nga mataas pa. Pero konting-konti na lang puputok na yan. Yan ang “the best time to buy” hindi ngayon tulad ng sinasabi ng “expert” na ito.
This man is living in the lalaland as usual for those who sell condos. 😅 People who are contemplating buying condos for investment even as their own space should consider it multiple times if they can afford it or not even if you can afford.
The prices of condominium units here is very high compared to the salary of the average worker. In Malaysia where the salary is a bit higher than here in the Philippines the price of a similar condominium unit is half of what we have here. Developers and speculators are hyping up the real estate here to unrealistic levels.
Here are some points they might have missed in the interview. People are moving outside metro manila gradually due to remote work, Filipinos are adapting to virtual or online means of employment or even in schools, online schools. There is a tilt in the market as of today, Millennials are now much capable of investing on lots and other assets , Gen Zs would rather start a farm than invest on condo, Digital Nomad is now a thing for most of the Gen Z. If you would still do invest on condominiums, better consider developing it outside metro manila or outside a city proper with a lower lot price, lower condo price, lower rent. Philippines trying so hard to be like Singapore and Malaysia, where condo living is normal due to high house and lot property rates. Only those who has a house in there are rich.
I own 3 condos. 2 of which I bought in 2019 and this year. I dont feel any condo crisis. I can still pay my mortgages. If the prices of condo will go back to 100k per sqm or lower. I will surely buy additional 1 or 2 units.
@GoldfingerCebu my first condo in Paranaque. Never vacant. My 2nd and 3rd are strategically located near Ortigas CBD and BGC. I rented out as Airbnb. Average net income per month around 20k to 35k per unit. If you invest in condo for rentals dont buy expensive and large size. Go for studio type those below 2m. You can easily find tenant if you rent them out for 17k and below. Dont buy 3m or higher if its for rental Unless, you will live on it. Dont believe those agent saying you can rent them for 30k and up or airbnb for 2.5k - 3k per night.
@@macolet9711 How much is the Rental Yield? Probably 2-3%? Have you considered the expenses like dues, maintenance, taxes, furnitures, future special asesments?
@bluestreak5907 i bought my last 2 condos for 1.9m. Minimum monthly net income is 20k net of all expenses. So my annual yield is at 2 digits %. My first condo's yield is much higher. I bought it for only 800k. My monthly net rent is 15k.
I do not know who this person is but based on his answers, I do not find him credible. Please do better in finding an 'expert' on topics. Here are just a few of his responses. "It is like gravity, when it goes down, it goes up" ruclips.net/video/H4isrk8WIgk/видео.html - I did not know thats how gravity works! "for me in my opinion, you should go for property on high value" ruclips.net/video/H4isrk8WIgk/видео.html - as opposed to what? anybody out there actively buying properties that are LOW VALUE? "the challenge for new buyers now is to buy a property that is within their budget" ruclips.net/video/H4isrk8WIgk/видео.html - WOW! Just mind blowing wisdom. Spend within your means! You heard it here first!
Galing mo tol! I stopped watching when he made a whole new definition of gravity. 😂 Grabe tinalo si Newton. Nagbasa na lang ako ng comments. Thank you for watching the whole thing so we didn’t have to.
As a mortgage agent here sa Canada, this is a classic example of a sales person who would say na “it’s always the perfect time to buy a house”. Condos in Manila as an investment? Id rather spend 5-6M with a 5-10 unit rental in pampanga Buying condo as a “airbnb and vacation is just a waste of money and time” I have seen a lot of Filipinos here in Canada struggling to sell their properties bec of oversupply.
It's better to invest in a farm land or house and lot than buying an overpriced condo. Condo 🇵🇭 prices and value are over hyped and lots of owners are trying to sell.
People think. That they will rent the Condo and pay the mortgage by itself thru rent, kaso walang renter or nawalan ng renter. Patay kang bata ka………..PASALO ANG ENDING
It's hyper supply of condos marketed for the upper middle class to the rich. Gusto kasi ng developer and investor, malaki ang tubo. The real crisis is housing for the poor. Yung condo na over 5M ang presyo, pang mayaman lang yan. Yung mga ini interview ang concern nila profit.
"Now is the best time to buy" is not accurate. A better statement might be. Now is a good time to find bargains. These two comments are not the same thing
Yung mga sales agent / broker talaga ayaw pa aminin na may oversupply nga kasi wala ng POGO at maxadong overprice ang mga condo ngayon. May pa hyper supply pang nalalaman para lang makabenta pa sila. 😂
It's overvalued, and the monthly dues are killing! The Worst thing here is substandard construction, which is why most owners want to sell their units.
You don't have to be a rocket scientist to figure out condo prices in the Philippines. They are expensive for the common people working in the metro area to own one. Condo market prices are designed for investors only.
Since it was mentioned that prices go up and down, Also the best time to buy the condo is today but a good price and how much? Thinking of buying a condo, I don't like to buy it a high price.
Over supply talaga yn. Ayaw nyo kc aminin na sobra mahal at sobra kayo mag patubo kaya wala ng gusto kumuha. Nag papalusot lng kau sa paliwanag nyo kc ayaw nyo ibaba ang presyo.
This will be possible like in china. Because of greed of few people. This is also contribute to the global warming. Not condo only there is also oversupply of malls.
Build houses , suitable and affordable for average Filipinos. Condos worth millions, Many Filipinos cant afford that even with decent and regular jobs. And condos are not suitable for families with more than five or more members. Middle class Filipinos still prefer Subdivisions, house and lot.
Nowadays over supply, low demand, mahal masyado, mataas ang bank interest,took many years the ROI, madaming competition and complaints sa mga developer. Better should buy pre owned sacrife sale condo and pay it spot cash to avoid high interest.
An example of bad economy.. low demand, high supply. The Filipinos might not be their target market, but how are they sure they can invite foreigners to buy Filipino condo if the locals dont even find it worth buying or staying in it?
My friends condo Lapit sa okada .. di mabenta … pede pero grabe lugi. Sa January makita mo mas madami pang inventory. Even past years you can rent 1pct. Eto mga tao interview one sided.
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Condos are insanely overpriced in the Philippines, I can buy a HOUSE in the states for the price of a condo here. Absolute Insanity.
The average MM condo price is ₽4M or $68K. This wont even meet the price of house In Compton, LA or distant San Bernardino. The house value In Wyoming is “insanely” affordable at $380K but youll have horse and cattle as neighbors.
What I noticed WHY Philippines condo price is so high 1 of the reason is because people are ALSO buying the kind of location, where the condo is built, like if a condo is VERY NEAR a MALL like 6 mins walk or less, price is higher compare to other condo buildngs that is far to walk because you dont need to used your car often, another like BGC WHY condo there is SO EXPENSIVE??? Aside from being modern, clean, safe, etc, because of the QUALITY of that area, IF a person buy a condo OUTSIDE BGC, price of his condo DONT INCREASE as fast as condo inside BGC because his condo IS NOT PART of BGC, also THERE are AREAS in BGC that is 100% NOT FOR SALE, like garden parks, play court areas, etc, so where will Ayala land PUT the price to those FLAT LAND that are NOT FOR SALE??? of course to all the land that is FOR SALE in BGC, 2nd reason is SUPPLY n DEMAND, Metro Manila LAND SIZE is only 638 km² but the population is 14 M, and still RAPIDLY INCREASES, remember the price of Onion, chilli pepper, sugar became TOO HIGH? because of SUPPLY & DEMAND, the less supply rhe more people it became HIGH, the FEWER the LAND SPACE to built condos in Metro Manila or a particular city the higher the price will be of that land,
Because houses in the states are made of cardboard
@@bluestreak5907made of wood nman including condo except those high rise which is concrete
@@akarna69 no one is holding you back. Buy in the states :-)
I dont buy that condos are good investment especially in today's economy. Imagine a 42sqm condo with a 5M price tag will cost you a minimum of 42k in monthly amortization for 15years, this excludes the real property tax, condo dues and other maintenance. If you're going to rent it out, it will still be way much less than your monthly unless you are in the heart of BGC or Makati.
It's still better to rent these days as there are lots of un-occupied units all over the metro. Do your research and don't believe right away to anyone selling you that condos are good investments.
true. I know someone who bought a condo because the agent made her feel FOMO. Now her condo is a sitting duck right now - not earning a single centavo. Apparently, the vacancy rates on her area, not just her building, is also high. Now she's paying for a very expensive condo without any prospect.
5m is already 22sqm on some areas. overpriced
Agree. Manila was basically flattened in 1946 after World War II. That was less than 100 years ago… manila is sitting right on top of a fault line, which can crack any time. Between a huge earthquake or a potential invasion by another superpower. No thank you.
TRUE
@@dotnetcoder6578 no one is forcing anyone to buy. You may buy where your budget will allow.
I don't want to hear anything from Filipinos because it's biased. As you can see, he did not answer the question about the demand and supply of condos. He encouraged people to invest but never addressed the issue. The rent-to-income ratio is higher compared to the minimum wage of Filipinos; you would need to have at least three jobs to afford living in a condo. Of course, he’s not going to tell the truth because his business is to manage condos for Filipinos working abroad, and he’s unlikely to mention anything negative about it. I wish they were more transparent about the economy so that they could better guide other Filipinos, especially those who lack knowledge about investing. This topic might benefit his business, but it doesn’t help Filipinos who bought condos that are now sitting empty due to a lack of renters. There are no jobs and no opportunities.
"Expert" kuno kuno. These panelists are misleading the public.
Tell us more since you know better. Prove your claim you smart Alec
It’s for their own FAVOR!
Gravity going up? 😅😅
@@metalgear7508 He meant what comes down will eventually bounce back up. He used the wrong words, but the meaning is correct. You just don't know about real estate markets, perhaps?
@@mechalovejapan LOL
2:29 “it’s like gravity, it goes down, it goes up.”
Punyeta, kelan pa umaangat ang gravity? May bagong discovery ba sya at mali na Newton’s Law of Universal Gravitation?
Mema ang walangya.
😂 heard that! That was a dumb statement coming from the so called real estate investor
Ang ibig nyang sabihin, it's just like gravity. What goes up must (eventually) come down. And no need for the expletive.
Lol what he meant was Scientifically, gravity goes down pag tumataas ang elevation, or the farther you are from earth’s core.
It may take a long long time for things to go up in order to complete the cycle ...lol
Kakapanood lang ng Wicked is expert. “Defying Gravity.” 😂
No crisis, it’s just a hyper supply not oversupply according to the guest who is a real estate investor and admitted he owns several condos. In reality, condos are oversupply and overpriced! Bubble will burst.
hypersupply with overinflation. supply and demand does not apply here. condos are still too overpriced.
Ang ininterview nyo eh ahente! Hindi analyst! Over supply. Overpriced! Bad investment na ang overpriced condo sa metro manila. Susme common sense na lang hindi na kelangan ng sobrang analysis.
Pabor sa kanila ang interview na ito! Brain Washing!
@@arielgerardservillon3200 hindi ka nakaka-intindi ng market cycle ng real estate. Bakit yung mga taong walang condo sila pa ang nagmamadunong sa may maraming condo hehe.
@@tollbridgeahead1034 Simple.. sila yung nag papa airbnb at nagpapa renta sa mga potential titira ng atleast isang taon. Airbnb mga 1week to a month lang yan. Kumbaga hindi naman sila yung titira dun. May 4 condo kami na noon pa nabili bago pa magka oversupply, ganun din gawain ng iba ko kasama sa negosyo na may condo sa north south at visayas at mindanao. Target namin lagi mga foreingers (expat) o malalapit sa opisina at school. May contrata na din yung iba sa kumpanya na malapit.
Sinira ng oversupply ang market ng real estate.
@@kaychua1262 definitely brain washing. While true, the person wasn't very honest when this rise will occur. It can happen in a few months to even a decade! And even in a few months, some developers will fail and might not be able to deliver their projects kasi nga oversupply.
Tama. It’s way overpriced 😊
Many condo owners are now suffering from buyer's remorse.
Buying a condo in the Philippines is like buying a timeshare in the USA. Easy to buy but impossible to unload
True
"adjust the price" = lower the rent. This inarticulate panel swims in euphemisms.
Imposible to lower the price of condo in Metro Manila IF the price of that land that is bought is already SO HIGH, the reason is because of POPULATION VS LAND SPACE, SUPPLY & DEMAND land space of Metro Manila is 638 km² where the population is almst 14M, there are ALMOST NO MORE SPACE in Metro Manila to build new condos, 1/3 of Metro Manila are Squaters area, where only 2 flrs are built instead of 40 fls buildng, Same area are legal houses, remember why Onion, chilli pepper, sugar became TOO EXPENSIVE??? because of SUPPLY & DEMAND, the lower the supply of LAND SPACE the more people LIVE in rhat place the HIGHER the pruce of that land, check Quezon ciry why is it CHEAP, look at the LAND AREA of Quezon ciry VS QC population,
@@andrelim4580 YOU misunderstood. It's 'lower the rent', not lower the price.
In my opinion, a condo is not an investment. Better buy listed forclosed properties or an open lot; remember, condos have a life span and will be demolished when they are dilapidated.
Comparing condo prices of the same kind & sizes of other Asian countries like Thailand, Vietnam, Malaysia, China, Cambodia,etc, Philippine condo price is TOO HIGH, doble priced to nearly double price, tax is SO HIGH, condo price in the Philippines is almost same in Singapore, Dudai, Hongkong, London, USA, UAE, Philipines is a 3rd world country so WHY putting price THE SAME as to First world countries??? ITS CRAZY, tax jn the Philippines before is only 3% but now 12%.
Exactly. Prices are at par at the best cities in the world. Less the convenience. Utility prices (electricity/water/association dues) are sky high. Add to that, food prices in these cities are expensive as well. Buying a condo is not an investment. If you buy one, you’ll get your ROI after 100 years
Condo is not for the filipino masses in MM. It is catered for the upper middle class up.
Not for 50k a month either…
Even for upper middle class, its heavy.
As i said above, the target market have already left the table. No good thinking pinoy will buy a condo for an investment. Its strategically a dead mans last choice.
I don’t share his optimism. There won’t be a crisis for as long as property owners can pay their mortgages. Any adverse movement in interest rates can wreak havoc on the market
I agree.
He has no choice but be optimistic, malaki mawawala sa kanya. Yun na lang pwede nyang magawa.
Learn from history from other countries. He is optimistic but his eyes show worry
It's now a buyer's market. Time to negotiate at least 25% or more.
Bubble finally burst in Philippines. It may take 3 or more years to recover.
There's more
patay ang investor pagManiwala sa kanya... same feature lng din ni lee chiu.. maski mahirap na talga mag rent out ng unit ngayun --- GOOD investment pa rin daw
"Expert" looking to sell properties. 😂
Most of the large developers have the organizational and marketing muscle to sell to buyers of affordable housing, but they're insisting on developing higher-end projects.
Risky naman talaga low income buyers so no judgements here. Mas madali talagang magbenta sa mga may surplus liquidity.
But if viewed in terms of cause and effect, it explains why there are a lot of condos that most people cannot afford, and a shortage of affordable housing for the ones who truly need them.
It's not so much an oversupply crisis but a crisis of imbalance.
Oversupply o walang buyer, condos are expensive to maintain.
i'm none the wiser from what the expert is advising, the wisdom from comments below say it all! keeps on harping about the "bank rate", the question is they are building not for the locals but for the expats (mainly non Filipinos) such disconnect, ie out of this world. Build pa more greedy developers!
That guy is having his good old sales talk.
walang transparency, we need numbers hindi lang puro sales talk. Dapat merong price adjustment katulad sa ibang bansa. POGO is their great market, eh wala na sila.
It's economics. Low demand, high supply= prices go down. And vice versa!
Then how come prices are still up Php 3-5 million ?
Its not supply and demand, its hyper supply with no demand. Nobody's goong to buy it, certainly no locals or just a few but not for investments. Expats can go somewhere chill with less traffic and more convenient and safer so why choose Manila?
Condos are good investments? Over supply nga e 😂
Expert tlga haha. Sa sales
Thank you to pogo ban
If you check the price nowadays for goodness sake they are for people who have large amount of money…condo unit ranges from 3m and up….
The guest said what he's supposed to say, because he's a real estate broker. I would've been more surprised if he said this is not the best time to buy. Too much supply = lower rents and lower capital appreciation, that's the truth.
There is a bubble and a good time to buy? Hmmmn. I think this guy doesnt know what he is talking about. A bubble will burst sooner of later. In my opinion, an average price of 200K per square meter for a condo project is way overpriced. Compare that to the average price on year 2004 at 30K per square meter.
You buy when the bubble explode. not before it burst.
@ precisely
He is a salesman.. It's always a good time to buy for him 🥴
Consider the inflation. Your have 20 yrs of price difference. Alangan naman 30k parin or 50k lang?
@@wnderjuan2344e di bumili ka lol
Tanggap mo pala eh
good decision to purchase a condo way back 2018 for around 1.7M. Right now, it's around 4.2M and is still currently tenanted for years already. When this news broke out, I already conditioned myself that property prices will cool down. But to my surprise, the last tower in our condo was at 90% of the units being sold out!
I realized property prices are really hyper-local, what happens in one city does not necessarily mean it will also happen in the other. And of course, when you invest in a property, you always need to have an exit strategy. Don't ever fall in love with your investment, When it's the right time, let it go gracefully.
what do you mean by "the last tower in our condo was at 90% of the units being sold out"? Did you mean that the price was discounted at 90%? Sorry, still trying to learn the industry. Also, may I ask what place is this condo? Is this also in BGC? TIA
@@whatisthematter88 90% sold out na yung buong project the last time I checked it and that was way back April this year. so most likely total sold out na sya now
Better invest in land, not condo's or houses in the Philippines.
Foreigners can't own land. They can own condos though.
It's now laid to bare that POGO was inflating the condo market
You'll never go up with gravity it will always pulls you down
Oversupply pero wala kang mabiling reasonably priced. Kunware may crisis, subukan mong magshopping, yung presyo e pang habang buhay na bayaran😂😂😂
Truth of the matter, lots of OFWs have been buying condos as an investment, esp the high end units so lucrative to Pinoys living abroad for decades😊
@@jenniferinocencio8945 ahhh you're sadly mistaken. Ofw's aren't the market for 1million dollars and up high end units nor are Pinoys abroad the market for 4m dollars and up House and lots in the Philippines
of course he's saying that its okay because he's in real estate business. but in reality its like a bubble thats ready to burst. be ready for a crash in price in the coming years. too much supply but no buyers because condos are so expensive. those who have the money to buy a condo already bought one.
He forgot to tell that many buyers defaulted last few month and these condos return to market. This is not a one time effect expect more defaults in the future. 6,000 “backouts” aka defaults since q3 expect more defaults
Super OP and super liit ng cuts for the price.
Just wait for the price to go down
The guest did not discuss about the local government increasing zonal value, so to be able to collect, more taxes. And the developers are taking advantage of this scenarios. But when condo unit owner wants to sell his or her, the zonal value is never followed.
I think based on how the market of condos are, we just have the right supply, the next development will be legitimate business offices..
Did he just say it's the best time to buy? Bubble within a bubble.
Marami yang nakatenggang property kaya ganyan ang linyahan. Kunwari all is well and situations are normal si koya
I am sure he is selling all the time
Did he seriously say now is the best time to buy amidst the current condo crisis? What a joke. My advice is to avoid buying a condo. Dig deeper and do your due diligence.
Temporary for 10 years 😅
Best time to buy kung may pang 50% dp ka.
Hyper supply? Super duper supply kaliwat kanan ang condo.
Cashflow? Taasan mo ung dp mo para sure kahit bagsak rate ng renta positve cashflow.
Several condos all fully paid sana all. year 2014 below 3m lang malupet na condo mo.
It's all about location, location, location... Even within Makati City, you can walk 15 minutes, and see condo prices ranging from $25,000usd to $4,000,000 usd... There are just some very specific neighborhoods that are super expensive, and the new developments are also catering to the super rich ..
Condo's in Arca South are worth 5 million but rents for 12k. Terrible.
Damn xD
@@ly8682 Nauto sila sa "Next BGC" kuno wala namang trabaho
I bought mine 1 mil pre selling im renting it for 15k hehe
after only 41 years its paid off
are they all spokes person for condo developers? nobody seems articulate clearly that these condo properties are over priced. 250k/sqm? one of the issues why prices are so high is that the buying public lacks the intelligence or smarts to realize that the real estate market is overpriced. the market is manipulated by the big banks and developers. bdo =smdc, bpi - ayala, metrobank - megaworld. heard of anti-trust?
Hawag leeg mga opesyalis sa Anti-trust at mga polpol na MAY TAKOT SA DIYOS Mambabatas
This is the sad reality about housing in the Philippines! SMDC & DMCI is exploiting the situation by selling overpriced condomimiums just for a small space. Even an average employee cannot afford it.
This hyper supply might last long until this greedy developers adjusted their pricing.
@@malachi0000009 sadly they will not adjust, the can wait it out. They have their own banks.
Their prices haven't come down at all.
American remote workers are getting called back to work in the office a few days a week. Artificial Intelligence call centers are also going online. If your condo is empty better Lower the price now. When I went to Manila I rarely saw any of my high rise condo neighbors. The building was mostly empty.
Im not sure buying a shebox living space is a good investment…. Maybe a land is far better investment
It’s time to give buyer more incentives,discounts, more better or lower rates it’s that simple rather than builders finds theirselves stuck on over build or excessive inventory! I will grab the opportunity to own condo specially in Manila.
Condo Oversupply Surging, House And Lots Next. Eyeing A 9m Condo In Makati Told Sometime In September That Price To Increase To 12m. But Price Just Drop To 5.8m 🤔
Drive around and you can see all of them. Gawin na lang low cost housing o relocation for squatters living by rivers or creeks or ghost towns like in china 😊
It's possible. Many chinese Pogo people owned condos.
With the stoppage of Pogo, their condos will be added to hyper supplies.
Condo prices goes up but rent doesnt hahaha..dito sa Pampanga sa clark nagpapagawa kami ng condo dahil its ideal and relaxing and a staycation option for those in manila and also an accomodation for foreign retirees...why would you buy a condo in manila its too stressful!!
yes oversupply tapos ang mamahal
I didn’t hear any explanation why oversupply is temporary & how to resolve this issue; will this be a case of depreciation vs appreciation? It would be more realistic if they say 68 months instead of 34 months.
Hindi magsasabi totoo yan 😂😂😂😂😂
By the time he introduced himself, I knew this interview will not go well.
you have a point!
The oversupply situation is only beginning and will worsen over time, especially for condos in the coming years.
Why buy kung di naman kailangan, marami naman supply. Better invest siguro real Lot but not condo na pagkasikip sikip 😊 di rin mapamana sa anak, some last for how many decades lang. Unlike Lote talaga
Condo bubble just popped. Yun lang yun
It hasn’t popped yet kasi nga mataas pa. Pero konting-konti na lang puputok na yan. Yan ang “the best time to buy” hindi ngayon tulad ng sinasabi ng “expert” na ito.
Not there yet hahaha marami pa sila itatayo sa 2025.
@@askherbs buying before bubble burst is always best time to buy lol
@@GoldfingerCebu for real? how is that the best time to buy when it hasn't bursted yet?
This man is living in the lalaland as usual for those who sell condos. 😅
People who are contemplating buying condos for investment even as their own space should consider it multiple times if they can afford it or not even if you can afford.
When Filipinos realize bitcoin is the better asset to buy, condos will be priced appropriately for those that will "live" in them.
The prices of condominium units here is very high compared to the salary of the average worker. In Malaysia where the salary is a bit higher than here in the Philippines the price of a similar condominium unit is half of what we have here. Developers and speculators are hyping up the real estate here to unrealistic levels.
Because of OVERPRICED that became OVER SUPPLY.
Here are some points they might have missed in the interview. People are moving outside metro manila gradually due to remote work, Filipinos are adapting to virtual or online means of employment or even in schools, online schools. There is a tilt in the market as of today, Millennials are now much capable of investing on lots and other assets , Gen Zs would rather start a farm than invest on condo, Digital Nomad is now a thing for most of the Gen Z.
If you would still do invest on condominiums, better consider developing it outside metro manila or outside a city proper with a lower lot price, lower condo price, lower rent.
Philippines trying so hard to be like Singapore and Malaysia, where condo living is normal due to high house and lot property rates. Only those who has a house in there are rich.
Temporary? We’ll see.😊
Oversupply of condos but undersupply of Affordable condos, big name developers wont lower prices and will simply wait it out
It won't make a dent on the wealthy. They buy real estate to park their money rather than leaving it in the bank.
I own 3 condos. 2 of which I bought in 2019 and this year. I dont feel any condo crisis. I can still pay my mortgages.
If the prices of condo will go back to 100k per sqm or lower. I will surely buy additional 1 or 2 units.
can you rent ur 3 units out?
@GoldfingerCebu my first condo in Paranaque. Never vacant. My 2nd and 3rd are strategically located near Ortigas CBD and BGC. I rented out as Airbnb. Average net income per month around 20k to 35k per unit.
If you invest in condo for rentals dont buy expensive and large size. Go for studio type those below 2m. You can easily find tenant if you rent them out for 17k and below.
Dont buy 3m or higher if its for rental Unless, you will live on it. Dont believe those agent saying you can rent them for 30k and up or airbnb for 2.5k - 3k per night.
@@macolet9711 How much is the Rental Yield? Probably 2-3%? Have you considered the expenses like dues, maintenance, taxes, furnitures, future special asesments?
@@macolet9711Is there some more condo cost 2m? Can you tell me where so I could buy one?
@bluestreak5907 i bought my last 2 condos for 1.9m. Minimum monthly net income is 20k net of all expenses. So my annual yield is at 2 digits %.
My first condo's yield is much higher. I bought it for only 800k. My monthly net rent is 15k.
I do not know who this person is but based on his answers, I do not find him credible. Please do better in finding an 'expert' on topics.
Here are just a few of his responses.
"It is like gravity, when it goes down, it goes up"
ruclips.net/video/H4isrk8WIgk/видео.html
- I did not know thats how gravity works!
"for me in my opinion, you should go for property on high value"
ruclips.net/video/H4isrk8WIgk/видео.html
- as opposed to what? anybody out there actively buying properties that are LOW VALUE?
"the challenge for new buyers now is to buy a property that is within their budget"
ruclips.net/video/H4isrk8WIgk/видео.html
- WOW! Just mind blowing wisdom. Spend within your means! You heard it here first!
Galing mo tol! I stopped watching when he made a whole new definition of gravity. 😂 Grabe tinalo si Newton. Nagbasa na lang ako ng comments.
Thank you for watching the whole thing so we didn’t have to.
I agree.. 😂
As a mortgage agent here sa Canada, this is a classic example of a sales person who would say na “it’s always the perfect time to buy a house”.
Condos in Manila as an investment?
Id rather spend 5-6M with a 5-10 unit rental in pampanga
Buying condo as a “airbnb and vacation is just a waste of money and time”
I have seen a lot of Filipinos here in Canada struggling to sell their properties bec of oversupply.
Lost me with "gravity"...goes down ...goes up.. really!? 😂
raised my eyebrows.. haha
Its all about location location location
Why is it a crisis?
Because no one is buying over priced tiny box spaces.
Developers greed = lose
AMLA law will keep money here in philippines, overvalued overpriced condos will continue to sell. Nowhere else to put money into locally
It's better to invest in a farm land or house and lot than buying an overpriced condo. Condo 🇵🇭 prices and value are over hyped and lots of owners are trying to sell.
People think. That they will rent the Condo and pay the mortgage by itself thru rent, kaso walang renter or nawalan ng renter. Patay kang bata ka………..PASALO ANG ENDING
It's hyper supply of condos marketed for the upper middle class to the rich. Gusto kasi ng developer and investor, malaki ang tubo. The real crisis is housing for the poor. Yung condo na over 5M ang presyo, pang mayaman lang yan. Yung mga ini interview ang concern nila profit.
Even the monthly association dues in condo living are too high
"Now is the best time to buy" is not accurate. A better statement might be. Now is a good time to find bargains. These two comments are not the same thing
Yung mga sales agent / broker talaga ayaw pa aminin na may oversupply nga kasi wala ng POGO at maxadong overprice ang mga condo ngayon. May pa hyper supply pang nalalaman para lang makabenta pa sila. 😂
It's overvalued, and the monthly dues are killing! The Worst thing here is substandard construction, which is why most owners want to sell their units.
Its not for middle or upper middle class pop.
You don't have to be a rocket scientist to figure out condo prices in the Philippines. They are expensive for the common people working in the metro area to own one. Condo market prices are designed for investors only.
Marketing strategy ofcourse for more condos to sell..
Condos are becoming overpriced in Philippines. For a 20 sq.m of space you need to pay 30,000 USD. Crazy!!
Since it was mentioned that prices go up and down, Also the best time to buy the condo is today but a good price and how much? Thinking of buying a condo, I don't like to buy it a high price.
Over supply talaga yn. Ayaw nyo kc aminin na sobra mahal at sobra kayo mag patubo kaya wala ng gusto kumuha. Nag papalusot lng kau sa paliwanag nyo kc ayaw nyo ibaba ang presyo.
No one will buy nowadays so expensive! TUBONG LUGAW KAYO DEVELOPERS
Whose gonna buy a condo when the BIG one is about to come.Were ripe for it 😅
Don't buy condo. Buy land. Condos here are just sardine cans with airconditioning.
So many experts😂
This will be possible like in china. Because of greed of few people. This is also contribute to the global warming. Not condo only there is also oversupply of malls.
Crisis to whom?
Dami diyan nakatiwangwang na condo unit hirap ibenta baka hindi nila alam ung mga hidden secrets ng Condo do your diligence...
Many Condo and real estate developers are greedy for profit. Some of thel are owned by well known families
DAMING SINABI. Sobrang mahal, Kaya walang bumibili...
Sobrang mahal naman kasi eh
Build houses , suitable and affordable for average Filipinos. Condos worth millions, Many Filipinos cant afford that even with decent and regular jobs. And condos are not suitable for families with more than five or more members. Middle class Filipinos still prefer Subdivisions, house and lot.
Nowadays over supply, low demand, mahal masyado, mataas ang bank interest,took many years the ROI, madaming competition and complaints sa mga developer.
Better should buy pre owned sacrife sale condo and pay it spot cash to avoid high interest.
Let the bubble burst!
An example of bad economy.. low demand, high supply. The Filipinos might not be their target market, but how are they sure they can invite foreigners to buy Filipino condo if the locals dont even find it worth buying or staying in it?
My friends condo Lapit sa okada .. di mabenta … pede pero grabe lugi.
Sa January makita mo mas madami pang inventory.
Even past years you can rent 1pct.
Eto mga tao interview one sided.
Ah, better oversupply than undersupply, at least there are plenty of options.
I will be happy to buy a foreclose Condo. Please let me know if one is available! Thanks.
Let the property bubble BURST NOW!!! 😂