Just a side note ... A cconference room is a "unit". The restaurant is a "unit". The gym is a "unit". And all these kind of "units" are included in the total amount of units and they are kept by the "filipino" developer, to make sure that ... ... a) most of the apartment units can be sold to foreigners without being in trouble of the 60%/40% rule, and ... ... b) to make sure the filipino developer still hold the majority of the shares (and votes). Well, the loophole in the Philippines' law is the weak description of what a "unit" really is. Even a storage- or facility- or comfort-room for the staff can be a "unit". Easy example: Of the (for e.g.) 100 units in a skyscraper, 40 units are offices and gym and conference rooms and theatres and shops and etc. Means only 60 units are real apartments. And thanks to that trick, 40 apartments can be sold to wealthy foreigners, while only 20 apartments must be sold to filipinos. And by the way the developer will keep even some of them, because of the profit - thanks to the overpaying foreigners - these apartments come for free. In the eyes of a developer of 3 towers, it just means: Sell two overpriced condo-towers to the buyers, and get the third tower (the hotel) for free. And the monthly expenses of the 1-tower-hotel (for e.g. free shuttle service) will be shouldered by all of the three towers. Means the hotel has to pay only 33% of its own expenses, while the remaining 66% of the expenses will be paid by the condo-towers. Simple math: When using steel reinforced poured concrete walls and form work, then you can calculate 35,000 Peso per Sqm. And you can add average 40,000 Peso per Sqm for plaster & paint, tiles, middle class furniture (what the developer buys in a mass with big discounts), electric and plumping, and some basic decoration. That is a total of 75,000 Peso per 1 Sqm for a condo in a RFO condition. If you will be able to sell a condo for 112,500 Peso per Sqm, then it means the 3rd unit will come for free and kept by the developer! Example ... 1st and 2nd unit (100 sqm each) sold for 11.25 mio peso, 3rd unit comes for free. Each unit generates an annually rent of 600,000 peso (50k/month). After the common 25% income tax "flatrate" (for real estate) that's a net income of 450,000 php/year. The owners of the 1st and 2nd unit generate a return of over the thumb 4% and it will need more than 20 years to get back the invested money. While the developer got the 3rd unit for free, and generates 450,000 php/year without to invest a single peso! How many % is that? 😉 A building with 90 condos (60 units sold to investors) generates - in this example - 30 times 450,000 php/year ... = 13,500,000 peso/year by (finally) zero peso investment. And if the units are airbnb or a restaurant or commercial space, you easily can triple the profit. And the majority of the needed staff will be paid by the "home owners", while yourself is still the boss of the whole tower.
Thanks for that interesting breakdown lamberko. I do think a sizable "adjustment is coming during the next 12+ months. Prices have been rising very steeply for many years.
@@AmazingPhilippines1 Yes, I agree. I think the economically effect of the pandemic is just at its beginning. The financed "airbnb" condos get affected at first and will appear on the market; and compete with the brand new condo projects. And we all know what happens when the supply is much higher than the demand. And the real estate market in the USA has shown us how unexpected fast such a market can collapse, when everything is financed and that concept is weak. I guess in 2021 you can "steal" condos in a mass.
I love the Marco polo condo's! Thx for the tour. I think I've found where I would stay when I depart the states. As always, thx for valuable Intel godspeed sir.
Pretty upscale compared to most there. Nice they have a maids room. Would make a good office. A little pricey but very nice!! I better win the Lotto before i move there. Although 20,000 for the studio rental isnt to bad!! Thanks for sharing!!
The odds are that a higher end condo will be better maintained over time and hold or increase in value over a lower cost unit also Michael. I do understand the advantages of winning a lotto but I don't play.
There have been a great many changes in this development after more than a year passed since the first video. A new video is badly needed to inform potential buyers of the new position of the buildings 5 towers that are very close together and put limitations on the great views previously mentioned. Nice units but very tight development. Viewing of the location and site is essential.
Good video...I have been to the hotel a few times nice place for food and drink but never walk back by the grounds nice camera work ....thanks for showing..
Thanks for watching and commenting. It is a nice place and the food is good. I am not an "all you can eat" person as I fill up too fast but they had a great selection.
On another note I really like the look of Cebu however my wife would never live there I think as she prefers Batangas area where she is from originally. Maybe we will visit Cebu next time we are in the Philippines.
Each region has its own personality and pros and cons. Batangas area was in the news a month or 2 ago with earthquake swarms so I would want to check out that info.
I always wonder how come they use the older style window type air condition unit in new luxury condos. They are not very efficient and very noisy compare to the split model. I understand in older building that it was the norm before , as when your rented a place you install your own air con in the wall or window and when you leave you bring you your air con. I also noticed, in many of your videos, that many AC unit are placed very low in the rooms and you have the airflow on your body directly across the beds or sofa. It is a fact that cold air goes down and the AC unit should be installed higher in the rooms.
You stated the facts very well thaimaxcan. It doesn't make much sense but many do not look at the long term cost but only about the cost of the initial unit and window AC is the cheapest, but least efficient, and noisey.
Thanks for showing this. I’ve stayed there several times and have wondered about the residence. They seem very expensive for Cebu. I know the amenities are great.
Hi William! I might help you with visiting the property. I'm a Property Specialist from Marco Polo. Feel free to email or message me. I will be willing to assist.
@@wildaamar Hi can you confirm that there is a tennis court on the grounds? Crazy that some descriptions say yes and some don't mention it. If so, do all buildings have access to it or just the hotel? Many thanks.
The rent is reasonable for a luxury studio unit at that prime location with the marvelous view and amenities! Buying prices are on the high side but it will be a good investment to whoever can afford it in the long run. Top end choice for a condo, luxury, security and good location come with a price. Good video, wish you to have one of the units there in the future. Thanks and regards Rod.
All good points, Ned. It looks like it is further away than it really is, perched up on the hill. I walked back to where I live as it was all downhill. They also have a free shuttle to several malls every 2 hours, I was told.
Thank you Des. I met an American who was staying there for breakfast so it was the perfect time to do the tour. Great view up there on the hill. How is life in your part of the world, Des?
This is quite high end and there are many who can afford and desire the luxury offered by this type of development, Mitch. It offers a degree of luxury, location, shuttles, prestige, privacy and security to those who can afford it.
97carded and ? In the US arent so much women you can choose to fuck everyday and become your gf from a huge Pool of Girls. Of course Luxus come to His cost in phillipines. You can live and rent a 6000peso Appartment but If you want to live like a millionare with Pool , Security and everything , you pay for it.
i agree those usa prices for less sq ft and without basic what we consider normal basic adds. exspecially the 3 bed rm $400k thats a house even new 2500 sq ft to 3500 in usa atleast here in dallas. the last house i purchase in seattle was 272k 5 bed 3 bath 3 car garage overlooking the narrows bridge in tacoma wa. but i guess if they got buyers suckers why not
if you don't mind another question. Do you know if there are people in Tower 3 or is it not hand over till 2018? i know tower 4 IS 2019. Thanks again in advance. I enjoy your style and videos.
Hi Rod can you confirm that there is a tennis court on the grounds? Crazy that some descriptions on the web say yes and some don't mention it. If so, do all towers have access to it or just the hotel? I'd be willing to pay a premium for that.
@@AmazingPhilippines1 Thanks. Tennis is important to me but sadly don't exist in Cebu City condos from my research. I believe there are only a few courts of any kind more on the outskirts of the city. Let me (everyone!) know if you're aware of courts in condo developments:)
It's a beautiful top of the mountain location ! I hope the City Engineer's Office enforced the strictest Building Code during the construction. It's a changing trend now that the Southern part of the Philippines has experienced most Tremors lately, unlike before it was the Luzon Island.
I also hope special attention was paid to the structure. I was told that many of the new buildings being built should withstand an 8.2 quake. Sitting on a hill like this, I think there would have to be special considerations also, Jobal.
Amazing Philippines hello, I was a Property Specialist at Marco Polo Residences Developed by Federal Land Inc. for 2 and a half yrs. Federal Land strictly follows a Project Development Process wherein: 1. they undergo a Technical Due Diligence Review. This is a process under which the land is subjected to Geological and Geo technical investigations to determine soil condition 2. We engage reputable Geo technical Engineers & structural Designers to design our building in accordance with the latest National Structural Code of the Philippines (NSCP) and with reference to the International Building Code (IBC). In addition, We engage third-party Consultants to perform reviews on these structural designs for validation. 3. Finally, We engage leading construction firms to implement our projects in accordance with the structural plans and specifications following strict quality control processes. In compliance with the international building design codes and references including those of the local codes were strictly considered in the Structural Design: National Building Code of the Philippines (NBC) Uniform Building Code (UBC) National Structural Code of the Philippines (NSCP) American Concrete Institute (ACI). Thank you for you great video. Albin is a good agent.
Thanks for all of this good information. I had no doubt that strict guidelines were used in the design and followed in building these units. The potential loss of not doing so would be very substantial. Thanks for watching and commenting.
Amazing Philippines with regard to the earthquake magnitude the building could withstand, there is no accuate answer regarding that. what i know is the foundation they put was so long that it reached the bed rock, the hardest part of the land, that was the reason some towers were delayed. it would also depend on how long the quake will last. even a magnitude 4 lasting a minute could be devastating.
Those poor maids. Just enough space to roll from side to side. They have the nerve to call that a room. The 3 bed corner unit looks nice,but as others have said grossly inflated price. Maybe in HongKong that price would be a good investment but this is the Philippines.
Many of the maids probably came from homes or boarding houses where they slept on a mat in a less than desirable environment, so this is a step up Max, but I agree, it is quite small and no place to store clothes and items.
I could tell you of worse sleeping and living standards than that even but not here in public as it's about a higher profile place and not in the province either.....I was more than shocked when I seen the conditions. Cheers from Australia
Real life can get pretty rough for some, especially if they are in a foreign country with no real rights. In some areas of the world, foreign labor is treated like slave labor.
Try Avida in IT Park although $40 doesn't go too far in that area. I use a real estate agent who might get you more useful info: arleneclavido613@gmail.com.
It is all downhill and I walked back to the IT Park area from there. Most people wouldn't want to do that though. Walking back up would be a major workout. LOL. They do have free shuttles to the malls, every 2 hours, I think.
398 SQFT Haha 😳. All jokes aside, that is a building I could definitely see myself living in, although it is pricey. Sadly, I'd have to overpay in order to live in one of those buildings in Cebu city. I'm not sure what the Real Estate market is like in Cebu City, but it seems like there is a demand for those buildings. As long as people are buying those places, the prices are just going to continue to rise. Great vid, Rod. 👍
There is lots of foreign investment in Cebu City for several years and the Philippines in one of the fastest growing economies in Asia. There is talk of a "softening" real estate market, so we will see, Marco.
When I was there the first time in 2006 I noticed some shanty buildings as I look out the window. With all the construction I see in this video they probably bought out the land because those buildings sure look out of character with the luxurious Marco Polo Hotel.
I think most places I have visited in the Cebu City area include new highrises and shanty buildings in the area also. There is a mix where ever I walk, including around the Marco Polo area. Marco Polo in fenced off though, Wayne.
+Amazing Philippines those resident buildings look new. When I first checked into the hotel they were not there. Since I first went they got several more hotels including the Park Hotel I stayed at some years ago. When I first went (2005) I stayed at Cebu Midtown Hotel above Robinson's. I stayed at a few others too since I was traveling in and out of Cebu City. But they were mostly older hotels. The Park Hotel they were still working on it when I checked in. Lots of construction was going on. And I read they built a new tall hotel only problem the guests can't see out the windows because of the pollution. Maybe they need window cleaners. Anyway more hotels mean more business and hopefully more prosperity and well-needed jobs.
Interesting. One expat who has been coming here for years told me most of the high rises have gone up in the last 7 years or so. There is still a lot of building going on.
Nobody seems to address the VAT for all situations. If you buy a used condo do you pay VAT again? That would mean if it is sold 8 times the government makes out like crazy.
I believe VAT is only on new property sold Philam. When the property is resold, there may be a "gain" tax. I will try to research this further. There is a capital gains tax in the USA that varies based on whether it is "short term" or long term capital gain. Those rules change at the whim of Congress it seems.
I do like the area and the view. It is all down hill walking back into town so I would do that regularly. Walking back up would be a workout. LOL. It is nice if you can afford it, Malou.
A little bit of a jump from the 1bed to the 2 bed. then 3. if only the difference from the studio to the 1 bedroom was the same as the 1bedroom to 2 bedroom
Hello Sir.. Can you recommend a good 3 bedroom condo that is furnished also has all amenities.also that is children friendly... Staying for one month..thankyou..
You might try Sarrosa Hotel and Residences, Horizon 101, Buenaventura, Queensland Manor, and Spiandada may have 3 bedrooms and they have the amenities Geoff. Good luck.
I believe they told me it should withstand a 8.9 which is extremely high. The good thing is we don't get tornadoes and miss the worst of the typhoons as we are surrounded by other islands. Thanks for watching and commenting Kevin.
I think the condo dues are 100 pesos/sq meter. That seems to be the range for top tier developments. 60-70 pesos/sq meter are more common in the mid-range units. Thanks for watching Frank.
This used to be Cebu Plaza before. Even marketing this to Filipinos working abroad or to foreigners, this is way overpriced for the size of the place and location.
The rent of 20,000 pesos for a studio and 35,000 for a 1 bedroom is quite reasonable. Most units in the city I have looked at are smaller and cost the same. Budget has a lot to do with lifestyle. I have not had any rent increases in the 1 1/2 year I have been here. I average about $1000-1100/month USD. Thanks for watching and commenting Lorri.
Amazing Philippines Thanks for your videos I'm learning from them. My son lives in Manila, he's been there almost 2 years. I would like to be close to the beach, is it far from these condos? Do you know any middle aged single women expats there & what it's like for them there? Seems like men go to find a mate, no one has really talked about older single women experiences as expats. Not looking for a mate just curious about how it is being in my situation living there.
👍🏻👍🏻 I can't believe how expensive these places are! You can buy a 3 bedroom house for the same price as that 1 bedroom at Marco here in Raleigh, NC Rip Off!
Every country and region is different. There are many people who can afford and desire this type of luxury and location. It is often not about "value" although highend units seem to keep their value better over time as there is more maintenance, marketing and prestige involved.
who wants to live in raleigh, nc? lol. cebu/makati would be equivalent to san francisco/new york, while raleigh is some small sleepy, not much happening town.
The condos in Tower 4 are being sold now for possession later in 2019 I believe Rafael. There are still units for sale in the other towers as well, some being sold by present owners, I believe.
Amazing Philippines Good Morning! In Your Experience do You Think is a better deal when Condos are first Been Built? Or For Sale By Current Owner? If You Like we can Communicate better at My Email. Shucdco3@Hotmail.com Salamat Po
Beautiful, bright and large 2 or 3 bed room aprts. I'm in... They look quite in the standard of very nice aprts in Europ, and prices as well... I'm a bit shocked about the maid's area. Sounds like the upperclass wants to show its privilege and power on the employees. This relation (being available anytime) makes me feel uncomfortable. I'm strictly talking about domestic work of course. tc Rod
The maids quarters are similar in most 2 bedroom and above condos I have looked at Shineamen. It is part of the culture in several regions of the world and there are lots of stories of how maids and other workers have their passports held by employers also, so they cannot leave. There is a class system in place here and some flaunt that relationship. Luxury and price have its advantages.
Thank you. Yes sure, I've heard about that. Money gives many rights and power around the world. Class system is even more shocking in non-first world countries, but it has to go that way...
I just cannot envision a market for these condos. A 3 bedroom for 18 million and 140 sq meters with mid level appliances and cabinetry and countertops and bath room. Somebody wants a killing on these and it is amazing to me that they will get these prices.
I agree with you, Tom, to a degree. I would expect higher end cabinets, countertops, etc. This has been one of the disappointments in almost all the condos I have looked at, the poorer quality of all the basic furnishings.
Great video Rod thanks for the detailed info the apartments and studios were beautiful especially the views everyone likes news stuff but imo they all were prohibitively and grossly overpriced even for western standards. Before anyone gets their underwears all wadded up every one in the USA doesn't live in large cities that would have those prices.
This price level offers some luxury many Ppl want and can afford. It also helps keep out the several classes of people, and that is important to some, Keith. I moved into a higher priced condo many years ago to get away from noisy students.
On the first one shown ...I could maybe do that but I would sorely miss a dishwasher and even though it's a nice area $83,000 seems a bit much with no more included than what is shown .
To small for me , can the maid actually lie down in that space nice view but way overpriced , how much was the monthly dues security, car parking fees etc, thanks for sharing I think I'll stay in Manila 😉
Association fee is 85 pesos/sq meter. Higher than most that run between 50-70, but you get better amenities and free shuttle to the malls every 2 hours, Derek.
I think quite often the same is true in much of the world. More people are needing roommates or family to share expenses. Thanks for watching and commenting.
forgive me brothers but if i only make 5 u.s. dollars a day it will take me a est. 6061 years to buy this condo and that is not tacking the count for food
They quoted 20,000 pesos/month for a studio and 35,000 for a 1 bedroom. You may find other prices from individual owners on sites such as www.airbnb.com, www.rent.ph, etc.
I hate VAT, it seems the only people paying it are the consumers, the already heavily burdened tax to death consumers. while the politicians..... well you fill in the blanks.
In the USA many states have a state sales tax, similar to VAT, up to 10% depending on the state and most also have a state income tax above the federal income tax. We also pay lots of other taxes and fees so I understand how you feel Lorence.
They are in the "high-end" market Michael. It might be nice being higher in elevation and the view but it is a bit of a hassle to get back into the city even though it isn't very far actually.
Those are the same figures on my fact sheet so I think they would be in legal trouble if they were false, Philipp. These units are not the size we are used to in the west, but they are larger than any others I have looked at in Cebu City.
Amazing Philippines the problem is there is no truth in advertising laws and if there was who would enforce it? I've encountered real estate sales people in the Philippines. The all say what a good investment it is and will go up in value. I told them a person in the USA can be sued if they say that. I ask them what happens if the property goes down in value?
Investing is always a risk, Philip. Some people make lots of money, some lose, and some don't worry too much about it as long as they are happy where they are living. Most will tell you the best time to buy into these developments is during the very early construction phase when the prices are the lowest. Every 6 months or so they usually raise the price several percent.
@@AmazingPhilippines1 Pre-sale is definitely cheaper as locals don't like to buy on a promise to build as condos are still a relatively new concept. Developers also give 12% to 15% discounts to all cash buyers. Generally, developers will raise the price by 2-3% every quarter so pre-sale buyers are guaranteed 30% to 60% in appreciation upon turnover (based on 4 years completion date). Price gains in a condo boom are almost guaranteed anyway due to 5-10% increase in construction costs every year. BTW, the prices you showed in this video psm was the price of Grade A condos in Manila in 2012 so the condos in your video will likely appreciate by 40% by 2024.
I am pretty sure the 3 bedroom would be over 60,000 Pesos/month as those are the prices I see on the rental sites. 35,000-45,000 for the 1 bedroom is in line with condos in IT Park, for instance, David.
That would be a risk with children, Wayne. I do like balconies and use mine often. During the "wet" season especially, it is often comfortable to sit outside.
Thanks for watching Master Yoda. I have been told real estate is lower in Thailand because they have overbuilt some years ago. The same thing may happen here.
George Garner Oh! Some people are still enfolds by serious gap of information. Others even try to use the terms third world as a ranking scheme for the state of development of countries with first world on top as rich. You do even know that Singapore, Saudi Arabia and many countries in the middle east are third world countries? A little bit wondrous how misinformed some are, knowing US and Russians are the main author of the three world scheme.
Just a side note ...
A cconference room is a "unit". The restaurant is a "unit". The gym is a "unit". And all these kind of "units" are included in the total amount of units and they are kept by the "filipino" developer, to make sure that ...
... a) most of the apartment units can be sold to foreigners without being in trouble of the 60%/40% rule, and ...
... b) to make sure the filipino developer still hold the majority of the shares (and votes).
Well, the loophole in the Philippines' law is the weak description of what a "unit" really is. Even a storage- or facility- or comfort-room for the staff can be a "unit".
Easy example: Of the (for e.g.) 100 units in a skyscraper, 40 units are offices and gym and conference rooms and theatres and shops and etc.
Means only 60 units are real apartments. And thanks to that trick, 40 apartments can be sold to wealthy foreigners, while only 20 apartments must be sold to filipinos.
And by the way the developer will keep even some of them, because of the profit - thanks to the overpaying foreigners - these apartments come for free.
In the eyes of a developer of 3 towers, it just means: Sell two overpriced condo-towers to the buyers, and get the third tower (the hotel) for free.
And the monthly expenses of the 1-tower-hotel (for e.g. free shuttle service) will be shouldered by all of the three towers. Means the hotel has to pay only 33% of its own expenses, while the remaining 66% of the expenses will be paid by the condo-towers.
Simple math: When using steel reinforced poured concrete walls and form work, then you can calculate 35,000 Peso per Sqm. And you can add average 40,000 Peso per Sqm for plaster & paint, tiles, middle class furniture (what the developer buys in a mass with big discounts), electric and plumping, and some basic decoration. That is a total of 75,000 Peso per 1 Sqm for a condo in a RFO condition.
If you will be able to sell a condo for 112,500 Peso per Sqm, then it means the 3rd unit will come for free and kept by the developer!
Example ...
1st and 2nd unit (100 sqm each) sold for 11.25 mio peso, 3rd unit comes for free.
Each unit generates an annually rent of 600,000 peso (50k/month). After the common 25% income tax "flatrate" (for real estate) that's a net income of 450,000 php/year.
The owners of the 1st and 2nd unit generate a return of over the thumb 4% and it will need more than 20 years to get back the invested money. While the developer got the 3rd unit for free, and generates 450,000 php/year without to invest a single peso! How many % is that? 😉
A building with 90 condos (60 units sold to investors) generates - in this example - 30 times 450,000 php/year ... = 13,500,000 peso/year by (finally) zero peso investment. And if the units are airbnb or a restaurant or commercial space, you easily can triple the profit. And the majority of the needed staff will be paid by the "home owners", while yourself is still the boss of the whole tower.
Thanks for that interesting breakdown lamberko. I do think a sizable "adjustment is coming during the next 12+ months. Prices have been rising very steeply for many years.
@@AmazingPhilippines1 Yes, I agree. I think the economically effect of the pandemic is just at its beginning. The financed "airbnb" condos get affected at first and will appear on the market; and compete with the brand new condo projects. And we all know what happens when the supply is much higher than the demand. And the real estate market in the USA has shown us how unexpected fast such a market can collapse, when everything is financed and that concept is weak.
I guess in 2021 you can "steal" condos in a mass.
I love the Marco polo condo's! Thx for the tour. I think I've found where I would stay when I depart the states. As always, thx for valuable Intel godspeed sir.
Thanks for watching! Marco Polo has a pretty good buffet also.
Pretty upscale compared to most there. Nice they have a maids room. Would make a good office. A little pricey but very nice!! I better win the Lotto before i move there. Although 20,000 for the studio rental isnt to bad!! Thanks for sharing!!
The odds are that a higher end condo will be better maintained over time and hold or increase in value over a lower cost unit also Michael. I do understand the advantages of winning a lotto but I don't play.
There have been a great many changes in this development after more than a year passed since the first video. A new video is badly needed to inform potential buyers of the new position of the buildings 5 towers that are very close together and put limitations on the great views previously mentioned. Nice units but very tight development. Viewing of the location and site is essential.
Good point John. I was up there for an evening buffet recently but did not get over to the condos.
Good video...I have been to the hotel a few times nice place for food and drink but never walk back by the grounds nice camera work ....thanks for showing..
Thanks for watching and commenting. It is a nice place and the food is good. I am not an "all you can eat" person as I fill up too fast but they had a great selection.
Thank you for sharing the lovely video.
Thanks for watching Jakob.
Lovely apartments. Cebu is a nice looking place.
Cebu City is a good location and growing rapidly. Hopefully, the infrastructure will start catching up JLB.
Philippines/Oz Fun With JLB you’re that famous UA-cam
Great views Rod! I really like this one bedroom a lot! My Korean hairdresser and her family owns the 3 bedroom one, and really likes it..
It is a nice view from up on top the hill and they have a great restaurant as well. Thanks for watching Regina.
On another note I really like the look of Cebu however my wife would never live there I think as she prefers Batangas area where she is from originally. Maybe we will visit Cebu next time we are in the Philippines.
Each region has its own personality and pros and cons. Batangas area was in the news a month or 2 ago with earthquake swarms so I would want to check out that info.
OMG that last 3-bedroom one is super NICE! I want one of those!
Condo living is a lot about lifestyle and convenience. Thanks for watching Dennis.
I remember seeing those condos while in Cebu in September!!
I always wonder how come they use the older style window type air condition unit in new luxury condos. They are not very efficient and very noisy compare to the split model. I understand in older building that it was the norm before , as when your rented a place you install your own air con in the wall or window and when you leave you bring you your air con. I also noticed, in many of your videos, that many AC unit are placed very low in the rooms and you have the airflow on your body directly across the beds or sofa. It is a fact that cold air goes down and the AC unit should be installed higher in the rooms.
You stated the facts very well thaimaxcan. It doesn't make much sense but many do not look at the long term cost but only about the cost of the initial unit and window AC is the cheapest, but least efficient, and noisey.
This is actually bigger compared to Mandani Bay and I like the kitchen there is room to move around..thanks for this vid!..Awesome!
I definitely like the larger size units Irene and there is a nice view from the higher elevation. Thanks for watching.
Amazing Philippines So far this is better compared to other condos you have shown..
Some very nice units there Rod, very interesting videos indeed as I like to see what is available. Take care and stay safe.
Nice comes at a price and these are nice. The area is also away from much of the noise and pollution.
Thanks for showing this. I’ve stayed there several times and have wondered about the residence. They seem very expensive for Cebu. I know the amenities are great.
This is a higher end development William. I think they have some "rent to own" type financing available at times also.
Yes I’ve stayed at the Marco Polo many times. I’m back in Cebu this May I will look at them again. Thank you again for your response.
Hi William! I might help you with visiting the property. I'm a Property Specialist from Marco Polo. Feel free to email or message me. I will be willing to assist.
@@wildaamar Hi can you confirm that there is a tennis court on the grounds? Crazy that some descriptions say yes and some don't mention it. If so, do all buildings have access to it or just the hotel? Many thanks.
The rent is reasonable for a luxury studio unit at that prime location with the marvelous view and amenities!
Buying prices are on the high side but it will be a good investment to whoever can afford it in the long run.
Top end choice for a condo, luxury, security and good location come with a price.
Good video, wish you to have one of the units there in the future. Thanks and regards Rod.
It isn't too far out and actually looks farther than it is. Quieter location and a great view Ned.
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All good points, Ned. It looks like it is further away than it really is, perched up on the hill. I walked back to where I live as it was all downhill. They also have a free shuttle to several malls every 2 hours, I was told.
Very good video rod wellpresentedvideo mate
Thank you Des. I met an American who was staying there for breakfast so it was the perfect time to do the tour. Great view up there on the hill. How is life in your part of the world, Des?
This is one of your accurate videos, no use of wide-screen view
A wider angle camera does make things appear larger Robert. I use a combination of an action camera and a Canon camera on many videos.
They are way too expensive For what you get In my own opinion
This is quite high end and there are many who can afford and desire the luxury offered by this type of development, Mitch. It offers a degree of luxury, location, shuttles, prestige, privacy and security to those who can afford it.
no kidding. You can still buy houses in the us cheaper.
97carded and ? In the US arent so much women you can choose to fuck everyday and become your gf from a huge Pool of Girls.
Of course Luxus come to His cost in phillipines.
You can live and rent a 6000peso Appartment but If you want to live like a millionare with Pool , Security and everything , you pay for it.
i agree those usa prices for less sq ft and without basic what we consider normal basic adds. exspecially the 3 bed rm $400k thats a house even new 2500 sq ft to 3500 in usa atleast here in dallas. the last house i purchase in seattle was 272k 5 bed 3 bath 3 car garage overlooking the narrows bridge in tacoma wa. but i guess if they got buyers suckers why not
Two words... "Highway Robbery."
if you don't mind another question. Do you know if there are people in Tower 3 or is it not hand over till 2018?
i know tower 4 IS 2019. Thanks again in advance. I enjoy your style and videos.
I am not positive, but I didn't think tower 3 was occupied. Thanks for watching Frank.
Hi Rod can you confirm that there is a tennis court on the grounds? Crazy that some descriptions on the web say yes and some don't mention it. If so, do all towers have access to it or just the hotel? I'd be willing to pay a premium for that.
I have been up there several times and don't remember seeing tennis courts. Their site doesn't mention any either.
@@AmazingPhilippines1 Thanks. Tennis is important to me but sadly don't exist in Cebu City condos from my research. I believe there are only a few courts of any kind more on the outskirts of the city. Let me (everyone!) know if you're aware of courts in condo developments:)
It's a beautiful top of the mountain location ! I hope the City Engineer's Office enforced the strictest Building Code during the construction. It's a changing trend now that the Southern part of the Philippines has experienced most Tremors lately, unlike before it was the Luzon Island.
I also hope special attention was paid to the structure. I was told that many of the new buildings being built should withstand an 8.2 quake. Sitting on a hill like this, I think there would have to be special considerations also, Jobal.
Amazing Philippines hello, I was a Property Specialist at Marco Polo Residences Developed by Federal Land Inc. for 2 and a half yrs. Federal Land strictly follows a Project Development Process wherein:
1. they undergo a Technical Due Diligence Review. This is a process under which the land is subjected to Geological and Geo technical investigations to determine soil condition
2. We engage reputable Geo technical Engineers & structural Designers to design our building in accordance with the latest National Structural Code of the Philippines (NSCP) and with reference to the International Building Code (IBC). In addition, We engage third-party Consultants to perform reviews on these structural designs for validation.
3. Finally, We engage leading construction firms to implement our projects in accordance with the structural plans and specifications following strict quality control processes.
In compliance with the international building design codes and references including those of the local codes were strictly considered in the Structural Design:
National Building Code of the Philippines (NBC) Uniform Building Code (UBC) National Structural Code of the Philippines (NSCP) American Concrete Institute (ACI). Thank you for you great video. Albin is a good agent.
Thanks for all of this good information. I had no doubt that strict guidelines were used in the design and followed in building these units. The potential loss of not doing so would be very substantial.
Thanks for watching and commenting.
Amazing Philippines with regard to the earthquake magnitude the building could withstand, there is no accuate answer regarding that. what i know is the foundation they put was so long that it reached the bed rock, the hardest part of the land, that was the reason some towers were delayed. it would also depend on how long the quake will last. even a magnitude 4 lasting a minute could be devastating.
That's a sturdy construction having those Concrete Piles driven to the ground and reaching the depth of the bedrock.
Those poor maids. Just enough space to roll from side to side. They have the nerve to call that a room.
The 3 bed corner unit looks nice,but as others have said grossly inflated price. Maybe in HongKong that price would be a good investment but this is the Philippines.
Many of the maids probably came from homes or boarding houses where they slept on a mat in a less than desirable environment, so this is a step up Max, but I agree, it is quite small and no place to store clothes and items.
I could tell you of worse sleeping and living standards than that even but not here in public as it's about a higher profile place and not in the province either.....I was more than shocked when I seen the conditions. Cheers from Australia
Real life can get pretty rough for some, especially if they are in a foreign country with no real rights. In some areas of the world, foreign labor is treated like slave labor.
sorry but a place like this in HK will be 4-6 million USD
Location, location, location.
proud maintenance For EIM here start 2018 and present 😊
Thanks Cris.
is it possible to buy any condos in cebu in a safe area close to cafe's for $30-40k?
Try Avida in IT Park although $40 doesn't go too far in that area. I use a real estate agent who might get you more useful info: arleneclavido613@gmail.com.
Only downside of Marco Polo Hotels is location-- its a long walk to the Shopping Malls...Must take taxi everyday just to go out and eat outside
It is all downhill and I walked back to the IT Park area from there. Most people wouldn't want to do that though. Walking back up would be a major workout. LOL. They do have free shuttles to the malls, every 2 hours, I think.
The price and the convenience of condos in IT Park are way much better especially now that Ayala mall is soon to open.
A Jones why would you use there free bus service to all the malls and return
398 SQFT Haha 😳. All jokes aside, that is a building I could definitely see myself living in, although it is pricey. Sadly, I'd have to overpay in order to live in one of those buildings in Cebu city. I'm not sure what the Real Estate market is like in Cebu City, but it seems like there is a demand for those buildings. As long as people are buying those places, the prices are just going to continue to rise. Great vid, Rod. 👍
There is lots of foreign investment in Cebu City for several years and the Philippines in one of the fastest growing economies in Asia. There is talk of a "softening" real estate market, so we will see, Marco.
When I was there the first time in 2006 I noticed some shanty buildings as I look out the window. With all the construction I see in this video they probably bought out the land because those buildings sure look out of character with the luxurious Marco Polo Hotel.
I think most places I have visited in the Cebu City area include new highrises and shanty buildings in the area also. There is a mix where ever I walk, including around the Marco Polo area. Marco Polo in fenced off though, Wayne.
+Amazing Philippines those resident buildings look new. When I first checked into the hotel they were not there. Since I first went they got several more hotels including the Park Hotel I stayed at some years ago. When I first went (2005) I stayed at Cebu Midtown Hotel above Robinson's. I stayed at a few others too since I was traveling in and out of Cebu City. But they were mostly older hotels. The Park Hotel they were still working on it when I checked in. Lots of construction was going on. And I read they built a new tall hotel only problem the guests can't see out the windows because of the pollution. Maybe they need window cleaners. Anyway more hotels mean more business and hopefully more prosperity and well-needed jobs.
Interesting. One expat who has been coming here for years told me most of the high rises have gone up in the last 7 years or so. There is still a lot of building going on.
Nobody seems to address the VAT for all situations. If you buy a used condo do you pay VAT again? That would mean if it is sold 8 times the government makes out like crazy.
I believe VAT is only on new property sold Philam. When the property is resold, there may be a "gain" tax. I will try to research this further. There is a capital gains tax in the USA that varies based on whether it is "short term" or long term capital gain. Those rules change at the whim of Congress it seems.
Expensive yes but I love that area of Lahug. I would !ove a farm there.
There is a nice view of the city from up on that hill Matt. I think it will continue to be built up around there in the coming years.
🍎 📷👌
Thanks for watching Sandy.
Oh wow! I love that place, so spacious and beautiful. When are you moving in there Rod?
I do like the area and the view. It is all down hill walking back into town so I would do that regularly. Walking back up would be a workout. LOL. It is nice if you can afford it, Malou.
I know it's expensive but it's worth it.
You pay half and I will pay half and we can share the 3 bedroom. LOL.
It's a deal Rod if we win the Lottery tonight, it's $375 million. lol
Good luck with the lottery. LOL.
Expensive but nice :-).
The units are a bit larger than average these days and it is up on the hill a bit so one should have a bit cleaner air as well Jakob.
July 2023 and tower 4 still unoccupied. Beware. 13:52
A sample of better apartments from Cebu. The price is cheap compared to San Francisco CA.
It is all relative to each area Manuel. Many people prefer these high-end developments if they can afford it.
yes but also relative the wage in San Francisco is 10X in of Cebu, its like paying a 1 bedroom for 7K USD in San Francisco but it should be 3.5K USD
A little bit of a jump from the 1bed to the 2 bed. then 3. if only the difference from the studio to the 1 bedroom was the same as the 1bedroom to 2 bedroom
There are many people willing to spend the money for this type of luxury and Cebu City continues to grow.
Thank you for the video, how much is the hoa fee on this condo?
I think it is about 100 pesos/square meter but not positive.
I agree these are way too expensive for the amenities given. $120000 and no air conditioner bathtub or oven? No thanks I'll build my own house
Thanks Michael.
Hello Sir.. Can you recommend a good 3 bedroom condo that is furnished also has all amenities.also that is children friendly... Staying for one month..thankyou..
You might try Sarrosa Hotel and Residences, Horizon 101, Buenaventura, Queensland Manor, and Spiandada may have 3 bedrooms and they have the amenities Geoff. Good luck.
I imagine they are engineered to withstand the strongest earthquakes too. Thank you for the video.
I believe they told me it should withstand a 8.9 which is extremely high. The good thing is we don't get tornadoes and miss the worst of the typhoons as we are surrounded by other islands. Thanks for watching and commenting Kevin.
I like this video. good info. Loved the 3 bedroom, Do you know what the monthly condo fees per is Sqm?
I think the condo dues are 100 pesos/sq meter. That seems to be the range for top tier developments. 60-70 pesos/sq meter are more common in the mid-range units. Thanks for watching Frank.
This used to be Cebu Plaza before. Even marketing this to Filipinos working abroad or to foreigners, this is way overpriced for the size of the place and location.
Thanks. I suspect there will be some price adjustments in the coming months.
👍👍👍🌻
Thanks for watching Tsimay.
HI Rod, by the way my name is Elizabeth my vlog's name is Tsimay sa Paris "that's mean maid in Paris. .:) ty
How often does rent go up? Will I live comfortably on an income of 1500. US with my 19 year old daughter too....
The rent of 20,000 pesos for a studio and 35,000 for a 1 bedroom is quite reasonable. Most units in the city I have looked at are smaller and cost the same. Budget has a lot to do with lifestyle. I have not had any rent increases in the 1 1/2 year I have been here. I average about $1000-1100/month USD. Thanks for watching and commenting Lorri.
Amazing Philippines Thanks for your videos I'm learning from them. My son lives in Manila, he's been there almost 2 years. I would like to be close to the beach, is it far from these condos? Do you know any middle aged single women expats there & what it's like for them there? Seems like men go to find a mate, no one has really talked about older single women experiences as expats. Not looking for a mate just curious about how it is being in my situation living there.
Cebu is a bit more but in Dumaguete city is a little bit less living which would be a lot closer to the beach, Lorri Dixon, places like Bacong
👍🏻👍🏻 I can't believe how expensive these places are! You can buy a 3 bedroom house for the same price as that 1 bedroom at Marco here in Raleigh, NC Rip Off!
Every country and region is different. There are many people who can afford and desire this type of luxury and location. It is often not about "value" although highend units seem to keep their value better over time as there is more maintenance, marketing and prestige involved.
who wants to live in raleigh, nc? lol. cebu/makati would be equivalent to san francisco/new york, while raleigh is some small sleepy, not much happening town.
I go there in marco polo
Thanks Davidon. I have walked down from Marco Polo a couple of times. Take care.
Great Info! When do You Think Tower 4, Condos Will Be For Sale?
Salamat Po
The condos in Tower 4 are being sold now for possession later in 2019 I believe Rafael. There are still units for sale in the other towers as well, some being sold by present owners, I believe.
Amazing Philippines
Good Morning! In Your Experience do You Think is a better deal when Condos are first Been Built? Or For Sale By Current Owner? If You Like we can Communicate better at
My Email.
Shucdco3@Hotmail.com
Salamat Po
Beautiful, bright and large 2 or 3 bed room aprts. I'm in...
They look quite in the standard of very nice aprts in Europ, and prices as well...
I'm a bit shocked about the maid's area. Sounds like the upperclass wants to show its privilege and power on the employees.
This relation (being available anytime) makes me feel uncomfortable. I'm strictly talking about domestic work of course. tc Rod
The maids quarters are similar in most 2 bedroom and above condos I have looked at Shineamen. It is part of the culture in several regions of the world and there are lots of stories of how maids and other workers have their passports held by employers also, so they cannot leave. There is a class system in place here and some flaunt that relationship.
Luxury and price have its advantages.
Thank you. Yes sure, I've heard about that. Money gives many rights and power around the world.
Class system is even more shocking in non-first world countries, but it has to go that way...
Nice video! I like the 3 Bedroom but a bit over priced! Two million should be the price !
Luxury and higher prices offer several advantages to those who can afford it grandadan. One is that it keeps out the "riffraff".
I just cannot envision a market for these condos. A 3 bedroom for 18 million and 140 sq meters with mid level appliances and cabinetry and countertops and bath room. Somebody wants a killing on these and it is amazing to me that they will get these prices.
I agree with you, Tom, to a degree. I would expect higher end cabinets, countertops, etc. This has been one of the disappointments in almost all the condos I have looked at, the poorer quality of all the basic furnishings.
Very nice and expensive.
Location and space come at a major price here in Cebu City.
$82k for 1 bedroom, wow to expensive...for that much you can get a 3 bedroom, 2 bath house on 2 acres of land here in NC
Marco Polo is a high-end development here in Cebu City. Thanks for watching James. The sizes of units are still a bit small as well.
Great video Rod thanks for the detailed info the apartments and studios were beautiful especially the views everyone likes news stuff but imo they all were prohibitively and grossly overpriced even for western standards. Before anyone gets their underwears all wadded up every one in the USA doesn't live in large cities that would have those prices.
This price level offers some luxury many Ppl want and can afford. It also helps keep out the several classes of people, and that is important to some, Keith. I moved into a higher priced condo many years ago to get away from noisy students.
On the first one shown ...I could maybe do that but I would sorely miss a dishwasher and even though it's a nice area $83,000 seems a bit much with no more included than what is shown .
Space in many of these condos is a bit more limited than what many of us are used to. Thanks for watching.
Wow prices are high in Cebu compared to other parts of the country
Cebu City has been growing rapidly and Philippines is the fastest growing economy in Asia so prices have been rising quickly also, Dennis.
To small for me , can the maid actually lie down in that space nice view but way overpriced , how much was the monthly dues security, car parking fees etc, thanks for sharing I think I'll stay in Manila 😉
Association fee is 85 pesos/sq meter. Higher than most that run between 50-70, but you get better amenities and free shuttle to the malls every 2 hours, Derek.
No outlets in the bathroom
There are nice apartment, but those rooms are very small... the price ...hmmm are very high...
It seems Asians, in general, are used to fitting more people into smaller spaces and "western" investors are the minority here Jessie.
thank you for sharing your video... it interesting seeing the condo units .. but way over priced in my opinion for what you get !!! :)
Rapid growth and much foreign investment have caused an increase in demand and prices here. Thanks for watching and commenting Rick.
In Shanghai where I live this size apartment will cost you 100 million pesos
Thanks Jimmy. Shanghai is one of those expensive places to live.
the sad part about this is that we Filipinos can not afford to live in our own country??????????????????
I think quite often the same is true in much of the world. More people are needing roommates or family to share expenses. Thanks for watching and commenting.
my average is 300.00 pesos a day for you american that is about 5.00 dollars a day = so i wont be buying a place like that ==
don't be sad girl, i make $5 an-hour in the states and it's not that big of a deal, but i pray for people in nations that are poor as yours
forgive me brothers but if i only make 5 u.s. dollars a day it will take me a est. 6061 years to buy this condo and that is not tacking the count for food
The 'rich' Filipinos can afford it. Just like the 'rich' in any other country can afford to live in luxury.
What was the prices for the rental
They quoted 20,000 pesos/month for a studio and 35,000 for a 1 bedroom. You may find other prices from individual owners on sites such as www.airbnb.com, www.rent.ph, etc.
The condo units are NOT catered to local working filipino residents in terms of affordabilty
This is a higher end development Rey. Thanks.
Not worth the price, but i guess this is the cost for foreigners and luxury.
I suspect there will be some price adjustment during the present crisis Takashi.
I hate VAT, it seems the only people paying it are the consumers, the already heavily burdened tax to death consumers. while the politicians..... well you fill in the blanks.
In the USA many states have a state sales tax, similar to VAT, up to 10% depending on the state and most also have a state income tax above the federal income tax. We also pay lots of other taxes and fees so I understand how you feel Lorence.
The bad part is a foreigner... would be difficult to own one, because or the Law of the country...
Foreigners can own condos Jessie. You cannot own land.
Up to 40% of the units of a condo development is maximum foreign ownership
Very high priced!!!
They are in the "high-end" market Michael. It might be nice being higher in elevation and the view but it is a bit of a hassle to get back into the city even though it isn't very far actually.
I think they may be exaggerating the size of those units.
Those are the same figures on my fact sheet so I think they would be in legal trouble if they were false, Philipp. These units are not the size we are used to in the west, but they are larger than any others I have looked at in Cebu City.
Amazing Philippines the problem is there is no truth in advertising laws and if there was who would enforce it? I've encountered real estate sales people in the Philippines. The all say what a good investment it is and will go up in value. I told them a person in the USA can be sued if they say that. I ask them what happens if the property goes down in value?
Investing is always a risk, Philip. Some people make lots of money, some lose, and some don't worry too much about it as long as they are happy where they are living. Most will tell you the best time to buy into these developments is during the very early construction phase when the prices are the lowest. Every 6 months or so they usually raise the price several percent.
I've learned that when the banks foreclose on the mortgage, that's the best time to buy.
@@AmazingPhilippines1 Pre-sale is definitely cheaper as locals don't like to buy on a promise to build as condos are still a relatively new concept. Developers also give 12% to 15% discounts to all cash buyers. Generally, developers will raise the price by 2-3% every quarter so pre-sale buyers are guaranteed 30% to 60% in appreciation upon turnover (based on 4 years completion date). Price gains in a condo boom are almost guaranteed anyway due to 5-10% increase in construction costs every year. BTW, the prices you showed in this video psm was the price of Grade A condos in Manila in 2012 so the condos in your video will likely appreciate by 40% by 2024.
I thought he said 35000 for the 3 bed room
I am pretty sure the 3 bedroom would be over 60,000 Pesos/month as those are the prices I see on the rental sites. 35,000-45,000 for the 1 bedroom is in line with condos in IT Park, for instance, David.
Hey Rod look the price when u did this video
Thanks Layne. Moving up in the world.....LOL.
If someone has kids they can't live there with that balcony. Kids like to climb. Easy for a kid to go over that balcony.
That would be a risk with children, Wayne. I do like balconies and use mine often. During the "wet" season especially, it is often comfortable to sit outside.
4.1 million to buy and 20k to rent? The return is toooo low.
I was surprised by the lower rent here, David. It might be a motivated owner wanting to keep it occupied while he is trying to sell it.
It is truly expensive for $83,000.00. It is very small and the lay out is too tight 👎
Thanks for watching Jojo. The market here has downsized the space as the population grew.
it's pretty pricy ..Lol
It is a "high-end" development. Thanks for watching Raoul.
Why doesn't the Filipino government build cheap decent homes for its people? Instead of them squatting and destroying the environment.
I don't have any good answers for this problem. It is a bit depressing to see the living conditions of many. Thanks for watching Neil.
Philippines is not a rich country 🙄. It would be unfair for other people.
That is way overly pricey. I rather live in Thailand.
Thanks for watching Master Yoda. I have been told real estate is lower in Thailand because they have overbuilt some years ago. The same thing may happen here.
Far far to expensive and clearly over priced.
Thanks for watching Niall.
Wow that much for a condo in a 3rd world country that's crazy you could do better in the US not worth it so much for cheaper living
Condo living is more about lifestyle and convenience in an area one wants to be. Thanks for watching George.
George Garner Oh! Some people are still enfolds by serious gap of information. Others even try to use the terms third world as a ranking scheme for the state of development of countries with first world on top as rich. You do even know that Singapore, Saudi Arabia and many countries in the middle east are third world countries? A little bit wondrous how misinformed some are, knowing US and Russians are the main author of the three world scheme.