📌Woah! This blew up really fast! Ang daming nagsasabi na overpriced pa rin so I’m thinking of making a follow up video and invite an economist to help us understand this better. May mga topics pa ba kayo na gustong I discuss??
Very good discussion, guys. Unbiased and very truthful analysis. The oversupply really is caused by the mismatch in prices and the financial capabilities of Filipinos. Prices have gone up too high. 100k-200k per sqm is just ridiculous.
@@jayadriantolentino I appreciate the honest take on the situation. Marami kasi biased yung views kasi they have a very big stake in the game. I agree that this may drag 5-6 yrs, though sana naman huwag
@@jayadriantolentino lol. Ako din, more on the property stocks here. Price is always ahead of the news ika nga, so far no bottom yet or at least trying to find support pa.
Sure POGOs caused issues, but been to the PI since 2018 and all I see are buildings going up everywhere. So it’s the oversupply and greed. Prices are the same or almost the same in QC as in Paranaque. That’s a disconnect. Good luck if you have more than 1 unit being rented out.
Sure POGOs caused issues, but been to the PI since 2018 and all I see are buildings gong up everywhere. So it’s the oversupply and greed. Prices are the same or almost the same in QC as in Paranaque. That’s a disconnect. Good luck if you have more than 1 unit being rented out. Let’s talk about lack of visitors, poor infrastructure, high energy bills, and crooked positions taking 1/3 of natl budget to their pockets
Salamat. And from personal experience namin ni ben yung discussion. I also worked as the sales manager for ayala land’s middle east office for quite some time.
I invested in BGC towards the end of Covid Time, and then I made another investment in the Fairview area due to the MR7 development. My Fairview unit is still under construction and needs only the finishing touches......I asked the developer to notarize the Certificate of Full Payment; however, the Deed of Sale cannot be notarized yet because the building is not completed. Investors should prioritize "legality "and stay away from unlicensed sales agents.
baka naghahanap ka ng oversupply condo sa BGC o Makati walang over supply dun. sa QC at manila ang over supply ng condo. dun sa mga lugar na nag ooperate ung POGO date.
we need transparency, if Philippines want to be competitive with our neighboring ASEAN countries - accountability and transparency is the key. We don't need developers, brokers, sales agents to be the talking heads due to vested interest. The property lending companies are being owned by the oligarchs, so who wins? Kahit pasalo pa yan - talo pa rin si buyer because of limited terms of loans and add the high interest. We as astute investors look into these. Plus, with the Philippines political dynamics, inflation, high interest rates, cost of living, BPO job losses due to AI, crime rates, corruption = if you add them up; it is still PRICEY
@@jayadriantolentino what is that 2.5m? around or less than 20-30 sqm? and what type? low to mid end condo? do you think that is fair to dwell upon for those who are going to live on it rather than renting it out? tapos yun Assoc dues that's also High rate. would rather spend my 2.5m buying a house on a subdivision sa out skirts of metro
pansin q lang andaming nega pagdating sa kahit anong investments.. pero grabe nman gumastos pagdating sa bisyo.. id rather invest kahit risky kesa magbisyo na for sure u r at lost 👍
I think Kuya Jay it’s only on the news, I have several condos with different developers all are tenanted even during pandemic time and we didn’t experience vacancies. In my opinion, there’s no right time to buy a condos as long as you can because it’s appreciating in value over time as doc Ben mentioned it’s a long term commitment.
That’s good to know! Oo long-term talaga ang approach pagdating sa real estate. For me naman, best time to buy is when you’re financially ready and you fully understand your investment. Don’t rush lalo na sa real estate.
One problem are some agents na di sinasabi ang lahat esp.sa mga ofws.other thing is yong mga ads na sasabihin 15k or 20k a month lang di binibigay yong total price.
Yup. Kaya ang akala ng karamihan eh yung binabayaran nila for 5 years is for the entire unit na. Ang dami ding ahente na ang galawan is similar sa networking. Mina “mindset” muna nila yung aattend ng “Financial Literacy” event nila and then magbebentahan in the end.
ang layo ng explanation pandemic daw, kaya nag over supply kase sa pogo ban, ung interest rate sa thailand china binabaan nila un kase di sila mka benta kase bagsak ang economy ng china most of the buyer ng thailand and chinese condo ay mga chinese. kung tignan mo ung market ung oversupply ay sa manila QC lang kase most of the POGO workers dun nka tira. tignan mo ung BGC Makati at ibang lugar wala namang oversupply.
THERE IS NO CONDO OVER SUPPLY.... The most important thing said in the video is that it is a HOT TOPIC. That is why this video was produced. The only reason. The basis for every video on the topic of a condo bubble or a crash is that the video maker is IMPROPERLY trying to compare USA real estate situations to the Philippines. They do not match or mix well. Here is a more balanced view. Condo developers are mostly self funded (no construction loans) and several own banks. The developers have NO OVER SUPPLY. The developers are BUILDING TOMORROW'S CONDOS ... AT TODAY'S CONSTRUCTION PRICES. There are 2 levels of condos... B grade selling under 10 mil (and still over priced) and then A grade selling over 15 mil (way over priced). POGO affects mostly B grade condos, with the majority in trouble are individual buyers / investors... many still in the down payment financing scheme, who NEED to rent to pay the payments. POGO will not hurt A grade developers as foreign workers and OFWs typically do not buy A grade condos. POGO 2.0 will come (if) India is successful in making call centers close in the Philippines and open in India. AND AND AND... when AI is perfected well beyond the 'bot' level to be able to function as a call center voice. THIS WOULD BE A GOOD TOPIC for a future video. Now... just because I like you, I will tell you a secret.... keep this to yourself. (EARTHQUAKE) In the past week at least 3 earthquakes have cause damage in remote areas of the Philippines. As soon as a strong quake hits NCR, and those 30+ storey buildings start to S W A Y back and forth...especially if at night when people are sleeping... with in 5 minutes (damn slow elevators!) the streets in the hi rise area will be filled with thousands of Pinoys! Add in a few deaths or (gasp!) an actual building collapse, and that will cause a true condo market CRASH! In 3 months thousands of condos for RUSH sale... Thousands of renters and owners alike refusing to re-enter their buildings to do anything but to empty their units.The condo sales for both A and B grade units will stop. This will affect the sales and resales market for 10+ years... longer if additional NCR quakes occur and cause damage. Want poof? Just look at the fires in California and thousand of houses that will not be rebuilt. More fires next year (every year) and the face of Real Estate in California is forever changed. So guys... how about an educated and informative video on the condo sales, resales and construction industry WHEN (not if) a strong quake hits the NCR? Do an internet search of Philippine Earthquakes and read more about the probability.
Wow! Thanks for the inputs joe! True. I only decided to come up with this episode because most of the information i’m seeing are from people who are incentivized to sell condominiums especially to Overseas Filipinos like me and Ben. Ang dami ng OF’s ang nasunog sa kanilang condo investments in the past (isa na ako dun), dahil everyone is telling me to buy kasi it’s the best investment daw and properties always go up in value. What I’ve learned is that the best investment is the one that suits your cash flow, goals, risk appetite, risk capacity, timeline and what you understand. Yes, AI is already happening here in Dubai and professionals who have tons of manual and repetitive tasks will soon be replaced by an AI agent. Dito may AI na that’s doing the cold calling for real estate agents and developers. Everyone will be forced to upskill and learn AI in the next 3-5 years or sooner if they want to remain relevant. Those who think creatively and have phenomenal leadership skills will thrive. The earthquake part is something I never thought of! It will literally make the entire condo market crash. 😅
What percentage of the high-end condos are rented to BPO employees? Other words: What are the root causes of downward spiral of condo vacancy rate? More importantly, what are the hard fact objective numbers, rather than subjective speculative perspective. 😢😢
Sinabi nyo, pa sobrang taas ng interest rate sa pinas! I really wish I was aware and educated about this so I would have put more money down during turnover. Although my two units will finish in 2033. Can't wait. Any tips po how can I lower the interest rate? Does it even exist? :) great video, thank you for doing this
There are a couple of ways to lower your interest rates like improve your credit score, compare home loan offers (some OF’s take a loan kung saan silang country based kasi usually mas mababa dun vs sa pinas), make a bigger down payment kasi it lessens the risk of non-repayment sa bank’s side so makakapag nego ka pa wih them, choose a shorter loan term kasi mas mataas usually ang longer period, consider pag-ibig housing loan if allowed ng developer, refinance with a lower-rate lender kapag bumaba ang rates like what will happen this year to address the oversupply, or make extra payments if hindi pa turnover yung unit mo para time for bank financing na, mas mababa na lang balance mo. Hope it helps and thanks for watching.
What is the N. H .Authority ..they should do something kasi sila authority to regulate..dapat pakialaman nila nangyayari ..condo prices manipulated by Developers ..kawawa mga tao ..
I dont believe there is an oversupply of condos in metro manila. Metro manila is overpopulated as it is already. People need these condos. The problem is the rental rates are too high. This is because of the high interest rates and short mortgage times(15 yrs) meaning we have to pay high monthly payments. If we had the global standard 30 yrs home mortgage. And comparable lower interest rates, the common folks of metro manila will be able to afford renting a condo close to their work. Unit owners will be able to rent these condos out at a lower rate without loss because the payments will be split into 30 years instead of 15yrs. Philippines needs a better banking system.
Good point. I think there are some developers that allow pagibig loans that are 15-30 years (correct me if I’m wrong). Kaya lang I don’t suggest taking the 30-year loan kasi para ka ng bumili ng 2 units nyan with the interest that you paid in total, pero that’s a good strategy for those who are renting their units out to lower their expenses and increase their cash flow. Also if more professionals can earn higher AND manage their finances responsibly, the better for everyone right? I really want to put an emphasis on better money management kasi having a high income skill is one thing but managing it is another.
Iba iba kasi ang experience ng bawat investor. May developer ako na ayaw ko talaga dahil sa approach nila sa pagbebenta sa mga OFs dito sa Dubai, pero may iba naman na maganda yung experience nila. Kaya Ben and I discussed on what every property investor must do to make a sound financial decision.
magkano ba ang presyo ng lupa sa isang city? hm is it to construct a condo, 30sqm tapos 4m, does that sound reasonable? kahit anong convenience or advantages sabihin mo, never ito naging reasonable, samantalang may mabibili ka naman nearby house and lot at 5m
@@francischua2565 as an end user what you said makes sense if price lang ang usapan. Pero to an end user who values his time, safety, or avoid traffic, baka it may not work. Iba iba talaga. I’d rather pay a higher price for my family’s security and for a less travel time to work. Also, to an investor who wants to make money out of the property thru rental, a house and lot may not work kasi usually mas mababa ang rent ng house and lots compared to condos. Kaya I always tell to anyone who is interested sa property investing to be very clear sa goal nila for investing in the first place. Also run your numbers lalo na sa panahon ngayon na ang net rental yield mo can be really low, a lot are just trying to break even with their mortgage and may iba na abunado pa 😬
@jayadriantolentino people always say about conevenience. Mag research ka lang at maging patient may mabibili ka pa din sa city na less than 10M na property. For example, sa pasig may nakuha ako 6m near school, very Good for rental. 2 storey din sya. This is very close to condos selling studio units at 4m, ikaw na investor,ano pipiliin mo?
@@francischua2565that’s good! I’d choose that too basta mataas ang rental yield! Pero what I like about what you said is to do research and be patient! Yun talaga ang key to success! 🎉
@ Based on my experience, both have pros and cons, The house and lot are difficult to maintain and have low rental yield but higher appreciation over time and you can expand vertically, while condos get easier to manage and rental yield is high, but appreciation is lower compared to house and lot. Still, location matters for both, contributing to value appreciation over time. So, I have both in a good location.
Over price condo sa Pinas, dahl sa SOBRANG MAHL ng lote nabuy ng condo developer, because of SUPPLY & DEMAND, supply ng lote sa Metro Manila para sa condo buildngs space ay WALA na, kya MURA mga condo sa Thailand dahl SOBRANG laki Metro Bangkok sobrang laki ng supply ng lote para sa condo kaya, MURA ng lote, compare sa Metro Manila, Mura condo sa Vietnam kac 100% lease hold term, Governments own 100% ng lote,
interesting. laking bagay talaga ang supply and demand. palagi ngang sinasabi ng mga real estate agents eh "You can make more houses but you can't really make more land." if there will be more high paying jobs or opportunities for a better life outside MM, then the demand for housing in MM will decrease. thanks for sharing!
Still expensive even if oversupply! No way. Indonesia is cheaper than here in the Philippines. Flipping condo? Ouch! No buyer is pulling teeth to close.
Hopefully things get better sooner! 🙏🏽 There are opportunities elsewhere. You can diversify to other asset classes and invest globally which I do and teach my clients. Dito naman sa Dubai booming ang real estate market right now and may way to invest fractionally so kahit hindi mo afford yung buong property, you can still get a piece of it and ride the growth. There was one company doing the same thing sa pinas before pero nag shut down na.
Yan mga developer, kahit hindi mabenta yung condo nila, eh kumita, pre selling palang kumita nayan, ang negosyo nyan is not really real estate kundi money management, we call it Cheap Loans, sa loan palang nila eh kumita na sila, pagdating sa construction, lahat ay in-house, kita pa din sila, then kung ma sold out nila bonus nayan, tapos kita nila sa mga amenities, asso dues, utilities, tubong lugaw talaga, nagyon kung sakaling bumili ka at na default mo, ni hindi mopa na natirhan dahil undeveloped pa, na mafia kapa run, kasi di mu naman ma refund lahat.
someone messaged me saying na there are some developers na ang pay term is 18 months lang then turnover na. ligtas sila sa maceda law kasi it requires at least 2 years of payments. if di na matuloy ni investor, balik sa inventory nila yung unit. kung qualified ka naman sa maceda law, hindi 50% of what you paid ang makukuha mo like what happened to my first attempt in property investing. the developer added admin and other fees kaya yung 500k na binayad ko, 30K+ na lang yung ibabalik sakin. these things are never explained by the agents. ang sasabihin lang usually is if di mo na kaya or magka-emergency ka, i flip mo na lang, kumita ka pa. as if napaka liquid ng real estate! 🥶
If you are OFW without prejudice. I don’t encourage to invest in a Condo. For a couple of reason(s) limited ang time as OFW paano kung umuwi na kayo. Can still sustain the payment. Papano kung wala na kayong Kontrata because you are quite old already. It is a wrong choice of investment.
those are good points to consider. for older OF's, it will be challenging if tight ang cash flow nila when they retire. also age is factor na chinecheck ng banks when lending money, if close to retirement na, most likely maiksi na lang ang loan period na they can offer and it will mean a higher monthly amortization. yes, it may not be the right investment for them if ganun ang situation nila. pero for others, especially the younger ones, it can still work if planned carefully.
If plan mong mag short term leasing, Find ways to make it attractive to your ideal tenants (fix the unit, make it aesthetically pleasing), market it really well and provide outstanding customer service para they will come back or refer others.
The price or prices of Condo in the Ph. Is like WILD WILD WEST. Wala ng control any seller can just demand their own price. Walang comparativity kase walang MLS na gaya sa U S. Just imagine Barong-barong at 50M. Wow wow wow, considering it is the Philippine market/economy The WHO can afford💰that price, for me that is not an INVESTMENT. The problem in Ph is the turn around time, how long before you can sell it. Hindi ganuon kabilis mabili ang condo mo. So, how can you call it an investment. Renter? ahhhhh! Paano kung wala kang renter for Several months? Do you have the means to sustain the payment? ESEP ESEP Po tayo. Baka ipasalo din natin at the END!
@jayadriantolentino sana idiscuss mo magkano ba talaga ang puhunan ng isang developer per unit of condo. Gaano ba kadaming simento,bakal, services,labor,logistics,paperworks ang ginugugol ng isang developer. Sa tingin ko sobrang taas ng mark up. Parang irrelevant ang regulator ng condos sa atin. Kaya in the end talo lagi ang pinoy consumers.just imagine around sa village pa lang namin 3 diff condos na ang pintayo since 2020.
No oversupply sa Cebu? I disagree! So many condos even OFW cannot afford. Come and look at Cebu! Too many! Nakatengga lang and many are selling! Your numbers don’t seem to jive with what’s on the ground.
PAANO kung eversince ay HNDI nagkarun ng POGO sa Pinas??? Reality is that developer will still continue to build condo, so ANO ang rison ng condo crash??? Kac LETS SAY POGO NEVER CAME to the Philippines,,
Nangyari kc laki ng kita sa building permit, lakas ng lagayan, aprove lang ng aprove. Kaya trafic din sa Edsa. NASA munisipal engineering problema. Limitahan patayo.Wala kayong alam 😂😂😂
Sobrang Dagdag trabaho Naman Ang real estate investing. Imbes na naka concentrate ka sa trabaho mo Ang nangyayari binilhan mo Ang Sarili mo ng trabaho...lol... Hindi na passive income Yan.
Why buy condo even at depressed prices when investing in single detach house & lot are better investment with vast potential of upside without monthly association dues & extra assessment fees. Makes more sense!!!
Depends on what better means to the buyer and what the ultimate goal is. If end use, I would consider a lot (which is what my wife and I did). Pero if cash flow and higher price appreciation ang goal, condos can be a better fit. Diversification is key.
Or baka na mis calculate nila ang real demand ng market kasi may mismatch talaga with the income of the common worker and the high rent. Also, a huge bulk of the buyers are OF’s who have more spending power than those working in the PH. Nabanggit din ni Ben na nagkaron ng shift sa demand ang mga OF’s from MM to their provinces.
📌Woah! This blew up really fast! Ang daming nagsasabi na overpriced pa rin so I’m thinking of making a follow up video and invite an economist to help us understand this better.
May mga topics pa ba kayo na gustong I discuss??
Very good discussion, guys. Unbiased and very truthful analysis. The oversupply really is caused by the mismatch in prices and the financial capabilities of Filipinos. Prices have gone up too high. 100k-200k per sqm is just ridiculous.
Thank you! Glad you found it valuable 🙏🏽
@@jayadriantolentino I appreciate the honest take on the situation. Marami kasi biased yung views kasi they have a very big stake in the game. I agree that this may drag 5-6 yrs, though sana naman huwag
Oo nga eh. Sana talaga hindi magtagal tong issue na to kasi pati ako affected din lol
@@jayadriantolentino lol. Ako din, more on the property stocks here. Price is always ahead of the news ika nga, so far no bottom yet or at least trying to find support pa.
@@kraymerp9197 ahhh ako naman ay into global ETF investing para diversified across geographies, sectors and asset types.
Sure POGOs caused issues, but been to the PI since 2018 and all I see are buildings going up everywhere. So it’s the oversupply and greed. Prices are the same or almost the same in QC as in Paranaque. That’s a disconnect. Good luck if you have more than 1 unit being rented out.
Sure POGOs caused issues, but been to the PI since 2018 and all I see are buildings gong up everywhere. So it’s the oversupply and greed. Prices are the same or almost the same in QC as in Paranaque. That’s a disconnect. Good luck if you have more than 1 unit being rented out.
Let’s talk about lack of visitors, poor infrastructure, high energy bills, and crooked positions taking 1/3 of natl budget to their pockets
Eto gusto ko, hindi bias ang content. Love you guys!!!❤❤❤
Salamat. And from personal experience namin ni ben yung discussion. I also worked as the sales manager for ayala land’s middle east office for quite some time.
Overpriced pa din kahit may oversupply.
Developers have tons of cash that they can wait.
Matigas cla, ayaw mag correct ng price kasi walang regulator.
How much is a fair price ba? I’m seeing some people selling their units sa condo pasalo fb group for 2.5m.
I invested in BGC towards the end of Covid Time, and then I made another investment in the Fairview area due to the MR7 development. My Fairview unit is still under construction and needs only the finishing touches......I asked the developer to notarize the Certificate of Full Payment; however, the Deed of Sale cannot be notarized yet because the building is not completed. Investors should prioritize "legality "and stay away from unlicensed sales agents.
baka naghahanap ka ng oversupply condo sa BGC o Makati walang over supply dun. sa QC at manila ang over supply ng condo. dun sa mga lugar na nag ooperate ung POGO date.
we need transparency, if Philippines want to be competitive with our neighboring ASEAN countries - accountability and transparency is the key. We don't need developers, brokers, sales agents to be the talking heads due to vested interest. The property lending companies are being owned by the oligarchs, so who wins? Kahit pasalo pa yan - talo pa rin si buyer because of limited terms of loans and add the high interest. We as astute investors look into these. Plus, with the Philippines political dynamics, inflation, high interest rates, cost of living, BPO job losses due to AI, crime rates, corruption = if you add them up; it is still PRICEY
@@jayadriantolentino what is that 2.5m? around or less than 20-30 sqm? and what type? low to mid end condo? do you think that is fair to dwell upon for those who are going to live on it rather than renting it out? tapos yun Assoc dues that's also High rate.
would rather spend my 2.5m buying a house on a subdivision sa out skirts of metro
BIG 1 is waving, Hi:)
Ano yang big 1? 2big lang alam ko 😂😂😂
🤣
@@nathanmarquez2615 seryoso ano nga yun haha
pansin q lang andaming nega pagdating sa kahit anong investments.. pero grabe nman gumastos pagdating sa bisyo.. id rather invest kahit risky kesa magbisyo na for sure u r at lost 👍
pano pag ginawang bisyo ang investing?😂
I think Kuya Jay it’s only on the news, I have several condos with different developers all are tenanted even during pandemic time and we didn’t experience vacancies. In my opinion, there’s no right time to buy a condos as long as you can because it’s appreciating in value over time as doc Ben mentioned it’s a long term commitment.
That’s good to know! Oo long-term talaga ang approach pagdating sa real estate. For me naman, best time to buy is when you’re financially ready and you fully understand your investment. Don’t rush lalo na sa real estate.
Ang problema is yung PASALO as he mentioned. wala nang sumasalo. Oversupply na.
Yung pasalo naging PATALO 😅
@@ciprianoparubrub893 correct!..it depends on location location location
@@Mega-zi7ys yes location, location, locations it matters most,.all my units are connected directly to MRT stations, so vacancies almost ruled out.
One problem are some agents na di sinasabi ang lahat esp.sa mga ofws.other thing is yong mga ads na sasabihin 15k or 20k a month lang di binibigay yong total price.
Yup. Kaya ang akala ng karamihan eh yung binabayaran nila for 5 years is for the entire unit na. Ang dami ding ahente na ang galawan is similar sa networking. Mina “mindset” muna nila yung aattend ng “Financial Literacy” event nila and then magbebentahan in the end.
I relate. Napakuha ng 2020, ngaun anxiety na kung itutuloy kasi laki ng interest.
Naku revisit your cash flow and your goals if kaya pa baaa
Hi Kuya J. Any prices of condo during the turnover… bank loan interest is still high and Filipino salary is also low not increase
ang layo ng explanation pandemic daw, kaya nag over supply kase sa pogo ban, ung interest rate sa thailand china binabaan nila un kase di sila mka benta kase bagsak ang economy ng china most of the buyer ng thailand and chinese condo ay mga chinese. kung tignan mo ung market ung oversupply ay sa manila QC lang kase most of the POGO workers dun nka tira. tignan mo ung BGC Makati at ibang lugar wala namang oversupply.
May impact pa rin yung delays caused by the pandemic
@@jayadriantolentino But still the main reason of oversupply is pogo ban,
THERE IS NO CONDO OVER SUPPLY.... The most important thing said in the video is that it is a HOT TOPIC. That is why this video was produced. The only reason. The basis for every video on the topic of a condo bubble or a crash is that the video maker is IMPROPERLY trying to compare USA real estate situations to the Philippines. They do not match or mix well. Here is a more balanced view. Condo developers are mostly self funded (no construction loans) and several own banks. The developers have NO OVER SUPPLY. The developers are BUILDING TOMORROW'S CONDOS ... AT TODAY'S CONSTRUCTION PRICES. There are 2 levels of condos... B grade selling under 10 mil (and still over priced) and then A grade selling over 15 mil (way over priced). POGO affects mostly B grade condos, with the majority in trouble are individual buyers / investors... many still in the down payment financing scheme, who NEED to rent to pay the payments. POGO will not hurt A grade developers as foreign workers and OFWs typically do not buy A grade condos. POGO 2.0 will come (if) India is successful in making call centers close in the Philippines and open in India. AND AND AND... when AI is perfected well beyond the 'bot' level to be able to function as a call center voice. THIS WOULD BE A GOOD TOPIC for a future video. Now... just because I like you, I will tell you a secret.... keep this to yourself. (EARTHQUAKE) In the past week at least 3 earthquakes have cause damage in remote areas of the Philippines. As soon as a strong quake hits NCR, and those 30+ storey buildings start to S W A Y back and forth...especially if at night when people are sleeping... with in 5 minutes (damn slow elevators!) the streets in the hi rise area will be filled with thousands of Pinoys! Add in a few deaths or (gasp!) an actual building collapse, and that will cause a true condo market CRASH! In 3 months thousands of condos for RUSH sale... Thousands of renters and owners alike refusing to re-enter their buildings to do anything but to empty their units.The condo sales for both A and B grade units will stop. This will affect the sales and resales market for 10+ years... longer if additional NCR quakes occur and cause damage. Want poof? Just look at the fires in California and thousand of houses that will not be rebuilt. More fires next year (every year) and the face of Real Estate in California is forever changed. So guys... how about an educated and informative video on the condo sales, resales and construction industry WHEN (not if) a strong quake hits the NCR? Do an internet search of Philippine Earthquakes and read more about the probability.
Wow! Thanks for the inputs joe! True. I only decided to come up with this episode because most of the information i’m seeing are from people who are incentivized to sell condominiums especially to Overseas Filipinos like me and Ben.
Ang dami ng OF’s ang nasunog sa kanilang condo investments in the past (isa na ako dun), dahil everyone is telling me to buy kasi it’s the best investment daw and properties always go up in value. What I’ve learned is that the best investment is the one that suits your cash flow, goals, risk appetite, risk capacity, timeline and what you understand.
Yes, AI is already happening here in Dubai and professionals who have tons of manual and repetitive tasks will soon be replaced by an AI agent. Dito may AI na that’s doing the cold calling for real estate agents and developers. Everyone will be forced to upskill and learn AI in the next 3-5 years or sooner if they want to remain relevant. Those who think creatively and have phenomenal leadership skills will thrive.
The earthquake part is something I never thought of! It will literally make the entire condo market crash. 😅
Currently, a record 60-70% vacancy rate at MOA area. Some rooms were being rented out at only ph 2k/ month. Good luck
@@selwynlao grabe ang taas! Yung isa kong kakilala 5 months na daw na bakante yung unfurnished unit nya sa MOA area and 50k/month ang mortgage nya 😬
Galing nito ni Doc
@@amazinginvoker6964 lodi yan
What percentage of the high-end condos are rented to BPO employees? Other words: What are the root causes of downward spiral of condo vacancy rate? More importantly, what are the hard fact objective numbers, rather than subjective speculative perspective. 😢😢
Sir anong title
book yung pinakita mo?
Trending Up. Book yan ni ben mismo. Anjan yung link sa description
Sinabi nyo, pa sobrang taas ng interest rate sa pinas! I really wish I was aware and educated about this so I would have put more money down during turnover. Although my two units will finish in 2033. Can't wait. Any tips po how can I lower the interest rate? Does it even exist? :) great video, thank you for doing this
There are a couple of ways to lower your interest rates like improve your credit score, compare home loan offers (some OF’s take a loan kung saan silang country based kasi usually mas mababa dun vs sa pinas), make a bigger down payment kasi it lessens the risk of non-repayment sa bank’s side so makakapag nego ka pa wih them, choose a shorter loan term kasi mas mataas usually ang longer period, consider pag-ibig housing loan if allowed ng developer, refinance with a lower-rate lender kapag bumaba ang rates like what will happen this year to address the oversupply, or make extra payments if hindi pa turnover yung unit mo para time for bank financing na, mas mababa na lang balance mo. Hope it helps and thanks for watching.
What is the N. H .Authority ..they should do something kasi sila authority to regulate..dapat pakialaman nila nangyayari ..condo prices manipulated by Developers ..kawawa mga tao ..
I dont believe there is an oversupply of condos in metro manila. Metro manila is overpopulated as it is already. People need these condos.
The problem is the rental rates are too high. This is because of the high interest rates and short mortgage times(15 yrs) meaning we have to pay high monthly payments.
If we had the global standard 30 yrs home mortgage. And comparable lower interest rates, the common folks of metro manila will be able to afford renting a condo close to their work.
Unit owners will be able to rent these condos out at a lower rate without loss because the payments will be split into 30 years instead of 15yrs.
Philippines needs a better banking system.
Good point. I think there are some developers that allow pagibig loans that are 15-30 years (correct me if I’m wrong). Kaya lang I don’t suggest taking the 30-year loan kasi para ka ng bumili ng 2 units nyan with the interest that you paid in total, pero that’s a good strategy for those who are renting their units out to lower their expenses and increase their cash flow.
Also if more professionals can earn higher AND manage their finances responsibly, the better for everyone right?
I really want to put an emphasis on better money management kasi having a high income skill is one thing but managing it is another.
Magaling kau 😊😊totoo sinasabi nio😊😊hindi biased😊😊 real estate brokers biased sa paliwanag sinasabi totoo😊hindi inaamin May oversupply ng condos😂😂😂😂
Thank you. Magkaano-ano kayo ni francischua2565?😂
Sana sinabi nyu rin anong mga developers to pick and to avoid
Iba iba kasi ang experience ng bawat investor. May developer ako na ayaw ko talaga dahil sa approach nila sa pagbebenta sa mga OFs dito sa Dubai, pero may iba naman na maganda yung experience nila.
Kaya Ben and I discussed on what every property investor must do to make a sound financial decision.
magkano ba ang presyo ng lupa sa isang city? hm is it to construct a condo, 30sqm tapos 4m, does that sound reasonable? kahit anong convenience or advantages sabihin mo, never ito naging reasonable, samantalang may mabibili ka naman nearby house and lot at 5m
@@francischua2565 as an end user what you said makes sense if price lang ang usapan. Pero to an end user who values his time, safety, or avoid traffic, baka it may not work. Iba iba talaga. I’d rather pay a higher price for my family’s security and for a less travel time to work.
Also, to an investor who wants to make money out of the property thru rental, a house and lot may not work kasi usually mas mababa ang rent ng house and lots compared to condos.
Kaya I always tell to anyone who is interested sa property investing to be very clear sa goal nila for investing in the first place. Also run your numbers lalo na sa panahon ngayon na ang net rental yield mo can be really low, a lot are just trying to break even with their mortgage and may iba na abunado pa 😬
@jayadriantolentino people always say about conevenience. Mag research ka lang at maging patient may mabibili ka pa din sa city na less than 10M na property. For example, sa pasig may nakuha ako 6m near school, very Good for rental. 2 storey din sya. This is very close to condos selling studio units at 4m, ikaw na investor,ano pipiliin mo?
@@francischua2565that’s good! I’d choose that too basta mataas ang rental yield!
Pero what I like about what you said is to do research and be patient! Yun talaga ang key to success! 🎉
@ Based on my experience, both have pros and cons, The house and lot are difficult to maintain and have low rental yield but higher appreciation over time and you can expand vertically, while condos get easier to manage and rental yield is high, but appreciation is lower compared to house and lot. Still, location matters for both, contributing to value appreciation over time. So, I have both in a good location.
Over price condo sa Pinas, dahl sa SOBRANG MAHL ng lote nabuy ng condo developer, because of SUPPLY & DEMAND, supply ng lote sa Metro Manila para sa condo buildngs space ay WALA na, kya MURA mga condo sa Thailand dahl SOBRANG laki Metro Bangkok sobrang laki ng supply ng lote para sa condo kaya, MURA ng lote, compare sa Metro Manila, Mura condo sa Vietnam kac 100% lease hold term, Governments own 100% ng lote,
interesting. laking bagay talaga ang supply and demand. palagi ngang sinasabi ng mga real estate agents eh "You can make more houses but you can't really make more land." if there will be more high paying jobs or opportunities for a better life outside MM, then the demand for housing in MM will decrease. thanks for sharing!
Mahal mahal Nyan hahahaha upa nlng ako bhy hahaha or pagawa k nlng bhy
Still expensive even if oversupply! No way. Indonesia is cheaper than here in the Philippines. Flipping condo? Ouch! No buyer is pulling teeth to close.
Hopefully things get better sooner! 🙏🏽 There are opportunities elsewhere. You can diversify to other asset classes and invest globally which I do and teach my clients.
Dito naman sa Dubai booming ang real estate market right now and may way to invest fractionally so kahit hindi mo afford yung buong property, you can still get a piece of it and ride the growth. There was one company doing the same thing sa pinas before pero nag shut down na.
Yan mga developer, kahit hindi mabenta yung condo nila, eh kumita, pre selling palang kumita nayan, ang negosyo nyan is not really real estate kundi money management, we call it Cheap Loans, sa loan palang nila eh kumita na sila, pagdating sa construction, lahat ay in-house, kita pa din sila, then kung ma sold out nila bonus nayan, tapos kita nila sa mga amenities, asso dues, utilities, tubong lugaw talaga, nagyon kung sakaling bumili ka at na default mo, ni hindi mopa na natirhan dahil undeveloped pa, na mafia kapa run, kasi di mu naman ma refund lahat.
someone messaged me saying na there are some developers na ang pay term is 18 months lang then turnover na. ligtas sila sa maceda law kasi it requires at least 2 years of payments. if di na matuloy ni investor, balik sa inventory nila yung unit.
kung qualified ka naman sa maceda law, hindi 50% of what you paid ang makukuha mo like what happened to my first attempt in property investing. the developer added admin and other fees kaya yung 500k na binayad ko, 30K+ na lang yung ibabalik sakin. these things are never explained by the agents. ang sasabihin lang usually is if di mo na kaya or magka-emergency ka, i flip mo na lang, kumita ka pa. as if napaka liquid ng real estate! 🥶
@ yung developer sila din yung banko,
The condominium industry is not big enough to crash the market.
But the property industry will crash the economy. Magkaiba yun.
If you are OFW without prejudice. I don’t encourage to invest in a Condo. For a couple of reason(s) limited ang time as OFW paano kung umuwi na kayo. Can still sustain the payment. Papano kung wala na kayong Kontrata because you are quite old already. It is a wrong choice of investment.
those are good points to consider. for older OF's, it will be challenging if tight ang cash flow nila when they retire. also age is factor na chinecheck ng banks when lending money, if close to retirement na, most likely maiksi na lang ang loan period na they can offer and it will mean a higher monthly amortization. yes, it may not be the right investment for them if ganun ang situation nila. pero for others, especially the younger ones, it can still work if planned carefully.
What to do po if nakapili ka sa not so prime location?
If plan mong mag short term leasing, Find ways to make it attractive to your ideal tenants (fix the unit, make it aesthetically pleasing), market it really well and provide outstanding customer service para they will come back or refer others.
The price or prices of Condo in the Ph. Is like WILD WILD WEST. Wala ng control any seller can just demand their own price. Walang comparativity kase walang MLS na gaya sa U S. Just imagine Barong-barong at 50M. Wow wow wow, considering it is the Philippine market/economy The WHO can afford💰that price, for me that is not an INVESTMENT. The problem in Ph is the turn around time, how long before you can sell it. Hindi ganuon kabilis mabili ang condo mo. So, how can you call it an investment. Renter? ahhhhh! Paano kung wala kang renter for Several months? Do you have the means to sustain the payment? ESEP ESEP Po tayo. Baka ipasalo din natin at the END!
tama, na discuss namin ni ben yung importance ng pagkakaron ng fund to cover the season na down ang occupancy rates.
eh gusto lahat maging landlord. Yung dati kong boss bumili ng 5 units malapit sa la salle para iparenta sa mga students. Alam ko bakante pa rin
Yun lang
SOBRANG GAHAMAN NG DEVELOPERS. TAPOS YUNG MGA COMMISSION PA NG MGA MAPANLINLANG NA AGENTS
Chill ka lang
@jayadriantolentino sana idiscuss mo magkano ba talaga ang puhunan ng isang developer per unit of condo. Gaano ba kadaming simento,bakal, services,labor,logistics,paperworks ang ginugugol ng isang developer. Sa tingin ko sobrang taas ng mark up. Parang irrelevant ang regulator ng condos sa atin. Kaya in the end talo lagi ang pinoy consumers.just imagine around sa village pa lang namin 3 diff condos na ang pintayo since 2020.
@@francischua2565that is interesting….
No oversupply sa Cebu? I disagree! So many condos even OFW cannot afford. Come and look at Cebu! Too many! Nakatengga lang and many are selling! Your numbers don’t seem to jive with what’s on the ground.
@@charmined3676 sa metro manila kami nag focus ng discussion. Wag ka ng magalit 😅
Dont buy condo . You make rich oligarchs richer.. you give away your lifesavings for condo, to these crooks
Condo in the Philippines is the worst type of investment.
PAANO kung eversince ay HNDI nagkarun ng POGO sa Pinas??? Reality is that developer will still continue to build condo, so ANO ang rison ng condo crash??? Kac LETS SAY POGO NEVER CAME to the Philippines,,
Nangyari kc laki ng kita sa building permit, lakas ng lagayan, aprove lang ng aprove. Kaya trafic din sa Edsa. NASA munisipal engineering problema. Limitahan patayo.Wala kayong alam 😂😂😂
Talaga ba? 😂
Sobrang Dagdag trabaho Naman Ang real estate investing. Imbes na naka concentrate ka sa trabaho mo Ang nangyayari binilhan mo Ang Sarili mo ng trabaho...lol... Hindi na passive income Yan.
yung investment naging inconvenience 😅
Stay out debt people.
Why buy condo even at depressed prices when investing in single detach house & lot are better investment with vast potential of upside without monthly association dues & extra assessment fees. Makes more sense!!!
Depends on what better means to the buyer and what the ultimate goal is. If end use, I would consider a lot (which is what my wife and I did). Pero if cash flow and higher price appreciation ang goal, condos can be a better fit. Diversification is key.
Agree ako sayo sir @@jayadriantolentino
Thanks 🙏🏽
houses are for families, condos are for singles... dont compare apples to oranges....
Condos are practical for retirees
MUKHANG PERA LANG YAN MGA DEVELOPERS NA YAN!
Or baka na mis calculate nila ang real demand ng market kasi may mismatch talaga with the income of the common worker and the high rent. Also, a huge bulk of the buyers are OF’s who have more spending power than those working in the PH. Nabanggit din ni Ben na nagkaron ng shift sa demand ang mga OF’s from MM to their provinces.
The way I look at it the economy is not really improving the Condo prices will crash. pag nag 1 Million na lang ang 2 BR balik ako sa pagbili ng Condo
2BR for 1M in MM might only happen if magkaron ng gera sa pinas or talagang mag crash ang economy natin. Do we want that?
If that happens I'll buy 5 in a heart beat 😊
@@sanny.g WEW!
Hindi araw araw fiesta.😂.. parang kamatis lang..
Yes, ganyan sa investing. Hindi palaging pataas. Ang stock market nga natin nasa “lost decade” right now kasi walang naging growth for 10 years.