and it seems only in the Philippines where you already bought a unit yet you still need to buy an overpriced parking space if you own a vehicle. or else you have to rent a parking space which is also quite pricey. Developers just being greedy.
Kaya nga parang s aibang bansa laging may kasmang Parking pag bumili ka ng unit. Tapos yung presyo either same lang or mas mura sa mga units dito sa pinas.
The reason why condos are so expensive is because of the foreign buyers when POGO was still allowed. The Chinese have money and they buy the condos in cash. This forced the developers to increase the prices and build more condos. Now that POGO is banned, you're now left with oversupply of condos and office spaces.
Parking is an additional amenity. It’s like having an extra room. If you have a vehicle, it’s your responsibility to store it. If you don’t have a vehicle then it’s not something you worry about. One of the reasons to live in a condo is to avoid needing a vehicle because the location allows it. Why should I be forced to buy a parking space if I don’t have a vehicle? Parking is never free even if you are not charged directly. I don’t really see what you are crying about. Do you cry that you have to buy a drink separate from your food at a restaurant? You think things should be given free? Nobody forced you to buy a condo.
It is not Oversupply but a OVERPRICED shoe box properties. The greedy developer can always build a thousands of condo units, but if only few can afford them It won't make a difference.
It's oversupply and overpriced, check mo pag gabi sa isang building parang 10 lang naka ilaw na condo sa buong building. It means nasa 10-15% lang occupancy.
Yeah, I'm never buying an overpriced shoebox condo. Developers are just plain greedy and keep selling their units as investments rather than actual homes.
True. Ang weird ng layout ng PH condo anliliit sukat as in sinadya talaga para makadami units per condo buildings as if ang pinas ay hong kong nagkakaubusan ng lupa don pero NOT here sa pinas, developers are plain greedy.
We are all greedy to some extent. It’s a business not a charity. And that is how capitalism should work, let their greed get the better of them. Those people that bought it as investments, well, they are losing money and have to rent at cheaper prices. Those builders that are still holding on to their inventory, they’ll have to sell at a discount. That’s good for everybody else. Richer people buy them and live in them or rent them out. That opens up more housing down the value chain.
It's an artificial price caused by POGO because those Chinese syndicates are willing to pay high prices, affecting most Filipinos because they can no longer afford a condo. Another brilliant idea of the previous admin was to let this syndicate into our country.
Unfortunately a correction WILL backfire especially after having made promises to those who already paid full that there is growth on their so-called investment. It’s pure greed at the end of the day.
The price of condos in the Philippines is ridiculously high as if you are buying a luxury place like in San Francisco California that can increase it's value over time. Consumer should dictate the price not the greedy capitalists! DO NOT buy at this time let the market go down then you buy your unit .
Maghintay kayong bumaba pa ang mga presyo. Siguro tulad sa China na wala ng bumibili, ibababa nila din ang presyo sa Pinas. Maybe after a year or so. Sa 2026 na lang kayo bumili. Iburo niyo muna ang mga Real Estate agents at sellers. Overpriced kasi. Kapag ngayon kayo bumili, hindi pa bumababa ang mga presyo ng mga Units. Tsaka tatagain din kayo with their Monthly services fees. Sure low interest rates nga, pero these are only short term deals. Besides, PBBM’s administration is going to improve the economy and all these foreign investments will mature which means further interest rates will be lowered. That is the time to really buy. Don’t believe their story (tale) that equilibrium will soon come. These people telling this story are Property sellers themselves, kaya dont believe them so easily. It is to their advantage to make you buy now. Huwag kayong maniniwala.
sus wag na, wag niyo itolerate yan mga developers. 1 way or another babawi yan. like parking price, monthly dues or ang masaklap outsource na management tapos pabayaan na
"Maghintay kayong bumaba pa ang mga presyo" - MALABONG BUMABA ang presyo nyan, lalo na yung mga PRIME Condos. Di nauubos ang PERA ng mga Politiko/Crime Lords.
Greedy property investors need to realize that property market don't always go up. Meaning money that is supposed to go property sector will go to other productive sectors of the economy rather than property speculation.
Baba din yan ulit at babalik sa 5M or mas mababa pa lalo na kung bumamaba na ang demand nang mga sobrang mahal na condo. Walang investors/mayari na makita na sobrang tagal nakatenga ang mga units nila.
@@keurikeuri7851 /Walang investors/mayari na makita na sobrang tagal nakatenga ang mga units nila./ That's where you're wrong kiddo . the developers who often have banks for sister companies, can and do.
In Cebu, most middle-income earners prefer to invest in land miles away from the city than buy condo units the size of a dog cage. Land prices have appreciated in places a hundred km away from the metropolis.
Leechiu initially reported a condo unit oversupply lasting 29 months but has since revised this figure to 34 months. It isn't quite time to buy since supply is increasing yet still and buyers are decreasing all the more. The rate of interest cuts appears to be lower than anticipated by a hawkish central bank for next year, further dampening sentiment.
@@abrahamdsl There was no indication of a crash in 2016. Developers were not over building. It was only during the height of POGOs coming in that the developers ramped up their condo launches to meet the demand.
10years ako sa condo. Now back to house and lot. Pangit ang condo. Ganda lng pakinggan na sa condo ka nakatira. Imagine, paying for monthly ammort, plus condo dues. Hahah. Para kang nangungupahan din. :D Maintenance pa. Papangit at papangit din ang building. Kayo gagastos ng repair jan. Magugulat kayo pataas na ng pataas condo dues nyo. :D Mag house and lot na lng kayo. Tapos mag WFH set up. The best! ;)
New condos are nice and shiney but within 5 years the building facade becomes weathered and dirty, with no monies spent on appearance. Lousy so called investment and 750,000-1mil for a tiny parking space ... Ridiculous
I think, maswerte kami na nakakuha kami ng condo noong 2011. Mababa pa ang price per sq. meter, mababa ang bank loan interest rate, maganda ang location ng project at as per schedule ang turnover..di rin nawalang ng tenant noong naiturnover sa min..nafully paid namin yung bank loan in 8 years and now yung rent passive income na.
Congress should make a law that requires all buildings commercial and residential to report vacancy rates on a regular basis that is available to the public. It should lead to better prices as it will be easier to determine the right prices based on supply and demand. The way it's going now, landlords and developers will just wait it out instead of lowering prices of rent or the selling price of condos.
I AM SO HAPPY TO HEAR THAT MOST OF THE COMMENTS ARE OPEN MINDED INDIVIDUAL NOT SUPPORTING THOSE KOND OF IDEOLOGY ABOUT HOME OWNERSHIP. CAPITALISM SHOULD NOT BE “OVER-GREEDY”.
Syempre mataas ang presyo hindi kaya ng mga ordinaryong tao na bumili ng unit. Pagdating naman sa mga foreigners na gustong bumili ng unit sa Pinas kokonti din kasi pangit ang sitwasyon ng gobyerno dahil malala ang corruption. 😢
What is the composition of buyers? Are they ph earners? How much on average do pinoys earn relative to the price of these condos? There is also lack of transparency where monthly fees don’t add yet the bank amortization, right?
Nag inquire ako ng condo dito samin jusko 1BR 6 million tapos yung parking space 1M!! Tapos yung unit parang banyo sa sobrang liit lol mas mabuti house and lot habang tumatagal tumataas value ng lupa heheheh
MALABONG bumaba presyo ng mga PRIME Condos kasi DI MAUUBOS PERA ng mga POLITIKO/CRIME LORDS na SUKI nito! Yan ang ISA sa mga paraan para ITAGO ang "pera nila" Ang oversupply ay yung mga "MURANG" Condo, na SOBRANG LIIT/SOBRANG MAHAL para sa Middle Class.
Cut the crap. It's not a very good time to buy. They're selling it right now because the real estate market is about to crash big time. Additionally QC & Metro Manila is a totally congested place and not a very comfortable place to live in. It's too toxic and unhealthy. These condominiums are going to sell for a price of a sack of rice soon. Just leave it there until its owners lose money and a real estate crash occur in less than 5 years. They already know it and tell you it is the best time to buy, when it is about to crash.
I looked at a lot of condos in manila and cebu. I was shocked to see how overpriced and small they were. For me it was the noise from outside and inside, poor construction, mediocre amenities, unprofessional staff, no chance of recovery of costs, no chance of selling it later for profit, pests, overcrowded streets etc ect
I am a developer and we just sold out 75% of our 825 unit condo east of Manila in 8 months time, pre-selling at that. If you build well and price it well, the market WILL ALWAYS BUY. I ask all fellow developers big and small alike, LET US SERVE THE FILIPINOS RIGHT.
My instructor teach us before several years 6 maybe there are condos which are not selling or vacant you can see it by the lights outside if someone is living.
Better oversupply than undersupply, as prices will be tempered. Who in the world wishes that there is an undersupply of housing or condo units? Crazy Leechiu.
I don't see the Housing and Urban Development Coordinating Council (HUDCC) regulating the rental properties in Metro Manila. Some places have absurd rental prices for such a shoebox. You have to file a claim first for them to investigate. Who has time for that? Mapipilitan ka na lang kunin yung place kasi dalawa lang option mo. Mag commute ka (kakainin oras mo) or mag rent ka (kakainin pera mo).
hindi big deal yan kung overpriced or hindi.. i hope may pag asa pa tumaas ang quality ng buhay ng mga Pilipino.. sa ibang bansa mataas ang cost of living pero suportado sila ng gobyerno.. unlike dito sa Pilipinas may opportunity pero hindi rin sapat para mamuhay ka ng simple
Condos started in mid90s, those years when Alice Goo family migrante in philippines due to China strict policys it means those condos are reserves for chinese immigrants but since chinese nowadays have negative issues here, they choose western countrys for rich immigrants
If you would ask someone who's working sa mga developers, they will tell you not to buy condos too, primarily because they're too overpriced. Kung di sila magbababa ng presyo, display na lang sila lol.
Ung inflation tinututukan, price of utilities monitor din ng congress, pero ung values ng real estate ang off the radar in terms of regulation. Rent or property prices drives up cost of living and it contributes a major factor to it. Minsan di mo alam kung matutuwa ka sa infrastructure development. Giginhawa nga buhay pang araw araw in terms of mobility pero ang kapalit magtatayuan ng ibat ibang development at gagawin pa nilang marketing point ung infra development. Mangyyre tataas ang presyohan sa lugar na iyon, magmamahal lahat. Hindi dadame ang supply kung hindi maganda ang kitaan jan. Biruin mo maliit na lote kayo mo tayuan ng ilang palapag na vertical tapos ang puhunan lng sa pag construct ng studio 26sqm nasa 500k pero ang benta nila 5m, this is a 15yr old slowly building bubble.
Simple lang, Overpriced, small units and high traffic. 🤮 plus hidden fees in the future like special assessment. Iba pa rin may sariling bahay at lupa.
Dati talaga nakakahumaling ung mga condo dahil community living buti nlng di ako bumigay. May friend ako binenta sken unit nya at a good location sa kapitolyo kinuha ko kase same price nya nakuha binenta sken 2m tas hulugan pa for 5 years. Dun ko nkta what condo living is about and i am happy na di ako nag commit ng malaking pera para kumuha ng mga sobrang mamahal na condo. Mas masya ako sa bahay namen sa Manila, pinaparenthan ko nlng ung condo long term. Di rin malaki kita atleast di ako negative at may konting pandagdag sa gastusin. 9k lng malinis kong kita duon.
It seems to me that with many firesales coming around soon people once priced out of the market can have a chance to enter the real estate market. How low the equibrium will be for certain market segments will be a wild ride. Smart developers should now be motivated to be creative in their pricing and payment schemes if they want to get past this downcycle. Their margins are probably big enought to absorb a major haircuts in margins. Assuming this doesnt turn into a debt crisis then most will get to live another day. Extended rent to own schemes with lower per sqm prices will be great for many to get on the property ladder. As long as the economy is still growing wiith favorable demographics, time is on our side.
Not exactly oversupply. But an imbalance. More units that most cannot afford, but fewer units that many need. Poor market planning. Plus Metro Manila is overbought. Taas nang taas ng price per sqm pero mga tao 4am pumipila para makapag commute from Cavite, Bulacan or Rizal patungong office sa QC, Makati o Ortigas. If afford nila to buy or to rent what's been built in the metro, bakit pa sila matitiyaga sa madaling araw na pila sa sakayan? Time to bring the jobs to where people actually live. Either WFH or open satellite offices. Pwedeng greed. Pwede ding kulang sa imagination. Hehehe. The truth is, sa sobrang mahal na per sqm, many metro manila lots hindi na feasible to develop. Esp sa BGC. Arca South 1.5B na isang 2k sqm lot dun. Land cost pa lang yan. Paano pa construction cost? Anong itatayo mo na makakabawi ka at the same time ma-afford ng pangkaraniwang salary earner?
It's not an oversupply it's the ridiculous high prices. For example small ugly SM condos are selling for 6m. Greedy developers buying up all the land and then making condos thinking of making a profit of 2000 percent.
Positive scriptingpeg nila hahaha Sobrang greedy ng mga developers na sobrang over priced ng per sqm ng unit wala pang parking space. Hopefully they adjust the pricing sa future. Sana ma bulok yung mga mamahalin na condo units na yan.
people are goin to nearby provinces much cheaper clean air metro manila is too clogged already better to live in the province we have internet all over the country starlink etc
I would rather buy a house and lot in the Philippines. I’ll probably rent a condo if I get a good deal, but never invest in it. Watch what was happening on condos in Florida USA. That should scare you.
WAG KAYONG BUMILI NGAYON! Wag kayong maniwala jan sa "it's the best time to buy" eme. Hayaan niyong malugi yanG mga yan ng mag bagsakan talaga ang presyo.
Good luck to everyone who is waiting for the “bubble” or market “correction”. Pero hindi eh. Lumang tugtugin na to. 13 years ago ganyan na din linyahan. Did the prices go down? No it didn’t.
Exactly. Back in 2012, everyone was saying condos in BGC are very expensive. Most were telling me to wait for prices to go down. However, I pulled the trigger and bought 3 units, 2 from Avida and 1 from Trion. Best decision I ever made as the prices never went down and in fact almost quadruppled.
@@josephseason good on you sir. my mistake was I waited too long and believed in these so called experts. bababa daw eventually and mag pplateau yung price the ff year. This was back 2011. I waited until 2016, and at that time nag double na yung price. maauna pa pumuti ang uwak.
@@ChinoIlagan malamang naman na location plays a key role. its not apples to apples comparing metro condos to say outer luzon ones. ang masabi ko lang if you find it overpriced then dont buy.
BGC is overpriced - the rents are low relative to the price. I own condos in Makati and MoA and I rent them out on Airbnb. I get very good cashflow/ROI. Rent to Price ratios ( via Airbnb) are very high... even higher than most US metropolitan areas. (I am a Filam from Las Vegas. I also live in Makati).
Yes, the reason is greedines on the part of the developers. Some condos have substandard finishings. For example, my godchild bought a studio unit in amaia skies. There is no space to put even a one burner stove, the faucet is a low class one and she bought it for 2.2 million. If these buyers can see the kind of condos being sold here in japan, they might wish to buy one. And these condos come with a parking space.
Office space leasing marami vacant spaces pero hndi yun ang problem, greedy lang talaga land lords gsto mas malaki ang payment rent kada month kaya yung potential tenants/companies lumalayo nalang sa manila dahil sa taas ng rent si leechiu na rin nag sabi nyan sa podcast niya sa youtube channel ni John Dang
Same lang na mahal ang house and lot at condo. House and lot if pamilyadong tao at sa pinas lang nakatira. Condos are good sa mga pinoy living and working sa ibang bansa lalo kung wala naman titira sa house and lot nila.
Wag kayo maniniwala sa tangang yan,.low interest? E ano naman.. low Roi ka jan, maski na sabihin mo for shelter mo mga condo. I doubt it. 0 percent ROI ka jan
Too expensive and mega over-priced!!! In Iloilo City a shoe box condo is around 7.5M and the prime parking spot is 1M. Plus a monthly maintenance fee. The developers and the realtors are SUPER GREEDY. With 7.5 M pesos in hand. As a future retiree I rather build a small house that it's easy to maintain.
and it seems only in the Philippines where you already bought a unit yet you still need to buy an overpriced parking space if you own a vehicle. or else you have to rent a parking space which is also quite pricey. Developers just being greedy.
Kaya nga parang s aibang bansa laging may kasmang Parking pag bumili ka ng unit. Tapos yung presyo either same lang or mas mura sa mga units dito sa pinas.
The reason why condos are so expensive is because of the foreign buyers when POGO was still allowed. The Chinese have money and they buy the condos in cash. This forced the developers to increase the prices and build more condos. Now that POGO is banned, you're now left with oversupply of condos and office spaces.
dont forget 3k-5k monthly dues hahaha. bumili ka pero para ka parin nagrerent habang buhay
Parking is an additional amenity. It’s like having an extra room. If you have a vehicle, it’s your responsibility to store it.
If you don’t have a vehicle then it’s not something you worry about. One of the reasons to live in a condo is to avoid needing a vehicle because the location allows it. Why should I be forced to buy a parking space if I don’t have a vehicle? Parking is never free even if you are not charged directly.
I don’t really see what you are crying about. Do you cry that you have to buy a drink separate from your food at a restaurant? You think things should be given free? Nobody forced you to buy a condo.
You buy a parking spot separately in Toronto lol
It is not Oversupply but a OVERPRICED shoe box properties. The greedy developer can always build a thousands of condo units, but if only few can afford them It won't make a difference.
It's oversupply and overpriced, check mo pag gabi sa isang building parang 10 lang naka ilaw na condo sa buong building. It means nasa 10-15% lang occupancy.
@@SpinnerKids
🥹😱🙀 baka 'yong iba ay natutulog na po ... kaya naka patay ang ilaw ... to cut cost on electricity bill 😅😂🤣
Yeah, I'm never buying an overpriced shoebox condo. Developers are just plain greedy and keep selling their units as investments rather than actual homes.
True. Ang weird ng layout ng PH condo anliliit sukat as in sinadya talaga para makadami units per condo buildings as if ang pinas ay hong kong nagkakaubusan ng lupa don pero NOT here sa pinas, developers are plain greedy.
We are all greedy to some extent. It’s a business not a charity. And that is how capitalism should work, let their greed get the better of them.
Those people that bought it as investments, well, they are losing money and have to rent at cheaper prices.
Those builders that are still holding on to their inventory, they’ll have to sell at a discount.
That’s good for everybody else. Richer people buy them and live in them or rent them out. That opens up more housing down the value chain.
@@napadaanlng69 may nakita nga ako meron maliit na lababo sa isang corner para lang may masabi na kitchen. Ano yun? Bahay bahayan?
Horrible craftsmanship too
Gusto nila kasi gayahin ang NYC. Maraming condos/apartments na maliliit ang rooms at siksikan ang buildings. At sa NYC mas maraming businesses
Condos made like boxes almost like storage area should only cost 500K! Otherwise those will be empty for a long long time!
It's an artificial price caused by POGO because those Chinese syndicates are willing to pay high prices, affecting most Filipinos because they can no longer afford a condo. Another brilliant idea of the previous admin was to let this syndicate into our country.
@concernpinoy3412 definitely agree! Its time government step up and make regulations to lower the prices of these boxed made Condos!
@@concernpinoy3412 nadale niyo po. This is to gave them the control!
500k is an overpriced
Greedy developers!
Wait for the bubble to pop. It's about time!
Can I bet against the housing market?
anong bubble di papayag mga developers nyan. sobrang greedy nyan
Baka di nyo ibig sabihin ng "bubble". Ang higit na apektuhan nyan ang maliit na tao.
@@KimAngeloCruztignan natin kung ano ang iaabot ng kayabangan nila na hindi paputukin ang real estate market.
I’ve been told about this bubble for over 10 years already
Weh, overpriced pa rin, sabi ng ibang foreigner mas mura pa ang ibang ASEAN, tapos maganda ang public transportation nila.
yes even in the US ,the condos are cheaper and the parking is included.
Greedy developers, make it affordable and many will want to rent it. Use heads! No one would want it to rent it.
Developers are making adjustments to the downpayment terms lang but I see no correction happening pa rin sa condo prices. They are still overpriced.
Unfortunately a correction WILL backfire especially after having made promises to those who already paid full that there is growth on their so-called investment.
It’s pure greed at the end of the day.
high prices period. Some WFH workers can already afford much cheaper properties in the nearby provinces
foreigners already comparing Thai vs BGC and they say Thailand is better. condos here are overpriced and NOT based on market price
The price of condos in the Philippines is ridiculously high as if you are buying a luxury place like in San Francisco California that can increase it's value over time. Consumer should dictate the price not the greedy capitalists! DO NOT buy at this time let the market go down then you buy your unit .
Not now. Buy once the bubble bursts.
Maghintay kayong bumaba pa ang mga presyo.
Siguro tulad sa China na wala ng bumibili, ibababa nila din ang presyo sa Pinas.
Maybe after a year or so. Sa 2026 na lang kayo bumili.
Iburo niyo muna ang mga Real Estate agents at sellers. Overpriced kasi.
Kapag ngayon kayo bumili, hindi pa bumababa ang mga presyo ng mga Units.
Tsaka tatagain din kayo with their Monthly services fees.
Sure low interest rates nga, pero these are only short term deals.
Besides, PBBM’s administration is going to improve the economy and all these foreign investments will mature which means further interest rates will be lowered. That is the time to really buy.
Don’t believe their story (tale) that equilibrium will soon come. These people telling this story are Property sellers themselves, kaya dont believe them so easily. It is to their advantage to make you buy now. Huwag kayong maniniwala.
Exactly. Abangan ang correction.
So naniniwala ka na magagawan ni PBBM ang problemang eto? Hindi mo siguro nabalitaan na ang IMF ay nag warning na sa phil gov.?
Just don't buy cause those tofu dregs shoe boxes aren't worth half their asking price
sus wag na, wag niyo itolerate yan mga developers. 1 way or another babawi yan. like parking price, monthly dues or ang masaklap outsource na management tapos pabayaan na
"Maghintay kayong bumaba pa ang mga presyo" - MALABONG BUMABA ang presyo nyan, lalo na yung mga PRIME Condos.
Di nauubos ang PERA ng mga Politiko/Crime Lords.
Greedy property investors need to realize that property market don't always go up. Meaning money that is supposed to go property sector will go to other productive sectors of the economy rather than property speculation.
Thanks for the market advice, professor.
Bakit "fantastic payment terms?" Dapat reasonable price!
Salvaging career
Overprice p din naman. Dati mahal na ung 5M ngayon 10M na ung maliit. Dpa sure kung pwede pang tirhan after the big one.
Baba din yan ulit at babalik sa 5M or mas mababa pa lalo na kung bumamaba na ang demand nang mga sobrang mahal na condo. Walang investors/mayari na makita na sobrang tagal nakatenga ang mga units nila.
@@keurikeuri7851 /Walang investors/mayari na makita na sobrang tagal nakatenga ang mga units nila./
That's where you're wrong kiddo . the developers who often have banks for sister companies, can and do.
With that 5M, you can already buy a house and a lot somewhere, and you don't need to pay monthly expenses if you have a condo.
"Now is a good time to buy because if people don't buy and this market crashes, i'll be out of a job"!
- guy being interviewed
Exactly! 😅
David L. Still dreaming....
TAMA
In Cebu, most middle-income earners prefer to invest in land miles away from the city than buy condo units the size of a dog cage. Land prices have appreciated in places a hundred km away from the metropolis.
Leechiu initially reported a condo unit oversupply lasting 29 months but has since revised this figure to 34 months. It isn't quite time to buy since supply is increasing yet still and buyers are decreasing all the more. The rate of interest cuts appears to be lower than anticipated by a hawkish central bank for next year, further dampening sentiment.
Well he is biased hes a developer
he didnt mention that there's oversupply and overprice - he's not reliable obviously
@@margauxchu2194my thoughts exactly!! Biased all the way!
Because the developers assumed that the Pogos would stay and there's gonna be an influx of Chinese here.
truuue isa din to
yeah they all meant to crash back in 2016 but thanks dutertae for letting the POGO chinese come in. ayan, ~8 years delayed.
Are they making excuses about pogos when they just didn’t do their homework about the potential of buyers to actually buy condos at high prices?
@@denniszenanywhere Maybe. I'm sure they made some kind of feasibility study about this. It would be foolish not to do so.
@@abrahamdsl There was no indication of a crash in 2016. Developers were not over building. It was only during the height of POGOs coming in that the developers ramped up their condo launches to meet the demand.
10years ako sa condo. Now back to house and lot.
Pangit ang condo. Ganda lng pakinggan na sa condo ka nakatira.
Imagine, paying for monthly ammort, plus condo dues. Hahah. Para kang nangungupahan din. :D
Maintenance pa. Papangit at papangit din ang building. Kayo gagastos ng repair jan. Magugulat kayo pataas na ng pataas condo dues nyo. :D
Mag house and lot na lng kayo. Tapos mag WFH set up. The best! ;)
Oa na kasi ung assoc dues. After pandemic nag x2 ung rate ng assessment c dues.
Because no centralized listing system
paano makakatulong ang CLS dito?
@ check how they do it in the US.
@@abrahamdslcls helps because it will reflect real value... currently you don't have any comparable data to know if you're overpaying or not...
New condos are nice and shiney but within 5 years the building facade becomes weathered and dirty, with no monies spent on appearance. Lousy so called investment and 750,000-1mil for a tiny parking space ... Ridiculous
You’re referring to lesser known condo developers.
BURST THE FREAKING BUBBLE!!! METRO MANILA'S CONDO REAL ESTATE IS FREAKING OVERPRICED!!!!!
ANC, I'm not sure that BSP hiked interest rates to "quell a recession", but I am pretty sure they hiked to "tame inflation"
Thanks!
I think, maswerte kami na nakakuha kami ng condo noong 2011. Mababa pa ang price per sq. meter, mababa ang bank loan interest rate, maganda ang location ng project at as per schedule ang turnover..di rin nawalang ng tenant noong naiturnover sa min..nafully paid namin yung bank loan in 8 years and now yung rent passive income na.
Congress should make a law that requires all buildings commercial and residential to report vacancy rates on a regular basis that is available to the public. It should lead to better prices as it will be easier to determine the right prices based on supply and demand. The way it's going now, landlords and developers will just wait it out instead of lowering prices of rent or the selling price of condos.
I AM SO HAPPY TO HEAR THAT MOST OF THE COMMENTS ARE OPEN MINDED INDIVIDUAL NOT SUPPORTING THOSE KOND OF IDEOLOGY ABOUT HOME OWNERSHIP. CAPITALISM SHOULD NOT BE “OVER-GREEDY”.
Good time to buy daw kahit overpriced. 😂
Galing ng salestalk.
Syempre mataas ang presyo hindi kaya ng mga ordinaryong tao na bumili ng unit. Pagdating naman sa mga foreigners na gustong bumili ng unit sa Pinas kokonti din kasi pangit ang sitwasyon ng gobyerno dahil malala ang corruption. 😢
Because it is overpriced and what's the point for investing in the Philippines with so much corruption, bad system in the government departments
Basically investors are already leaving the Philippines.
No more customers from pogo market
What is the composition of buyers? Are they ph earners? How much on average do pinoys earn relative to the price of these condos?
There is also lack of transparency where monthly fees don’t add yet the bank amortization, right?
The condo in the Philippines is OVERPRICED AND NOT MOVED IN READY!
There is no reason why you want a headache.
Nag inquire ako ng condo dito samin jusko 1BR 6 million tapos yung parking space 1M!! Tapos yung unit parang banyo sa sobrang liit lol mas mabuti house and lot habang tumatagal tumataas value ng lupa heheheh
It's very expensive
MALABONG bumaba presyo ng mga PRIME Condos kasi DI MAUUBOS PERA ng mga POLITIKO/CRIME LORDS na SUKI nito!
Yan ang ISA sa mga paraan para ITAGO ang "pera nila"
Ang oversupply ay yung mga "MURANG" Condo, na SOBRANG LIIT/SOBRANG MAHAL para sa Middle Class.
This is definitely a bubble, when real estate sellers almost already begging you to buy
Dump your reits. Sell your rental condos.. no future for these
Who said that?
Cut the crap. It's not a very good time to buy. They're selling it right now because the real estate market is about to crash big time. Additionally QC & Metro Manila is a totally congested place and not a very comfortable place to live in. It's too toxic and unhealthy. These condominiums are going to sell for a price of a sack of rice soon. Just leave it there until its owners lose money and a real estate crash occur in less than 5 years. They already know it and tell you it is the best time to buy, when it is about to crash.
Yawn. I bet you make this prediction every year 😂
I looked at a lot of condos in manila and cebu. I was shocked to see how overpriced and small they were. For me it was the noise from outside and inside, poor construction, mediocre amenities, unprofessional staff, no chance of recovery of costs, no chance of selling it later for profit, pests, overcrowded streets etc ect
I am a developer and we just sold out 75% of our 825 unit condo east of Manila in 8 months time, pre-selling at that. If you build well and price it well, the market WILL ALWAYS BUY. I ask all fellow developers big and small alike, LET US SERVE THE FILIPINOS RIGHT.
Great insight👍
Stop deceiving yourself 😅
My instructor teach us before several years 6 maybe there are condos which are not selling or vacant you can see it by the lights outside if someone is living.
BECAUSE FIRST OF CCP CHINA POGOS BUT POGOS CONSTRUCTED THEIR OWN LAIRE
They made it impossible for middle class to purchase one tiny studio.
Government is clueless. Without a good monitoring system, there could have been advanced warnings to everyone. None so far received.
Better oversupply than undersupply, as prices will be tempered. Who in the world wishes that there is an undersupply of housing or condo units? Crazy Leechiu.
I don't see the Housing and Urban Development Coordinating Council (HUDCC) regulating the rental properties in Metro Manila. Some places have absurd rental prices for such a shoebox. You have to file a claim first for them to investigate. Who has time for that? Mapipilitan ka na lang kunin yung place kasi dalawa lang option mo. Mag commute ka (kakainin oras mo) or mag rent ka (kakainin pera mo).
FINALLY, CORRECTION.
People can afford homes (or can we?)
hindi big deal yan kung overpriced or hindi.. i hope may pag asa pa tumaas ang quality ng buhay ng mga Pilipino.. sa ibang bansa mataas ang cost of living pero suportado sila ng gobyerno.. unlike dito sa Pilipinas may opportunity pero hindi rin sapat para mamuhay ka ng simple
mahal kasi tas ang chaka pa ng architecture. like smdc parang LUH NU YAN?
With the shift to remote work, offices no longer need to be as spacious, reducing costs for employers.
Greed finally hits the developers in the face
He was lying about best time to buy.
Real estate bubble coming. Better invest your money somewhere else than these condos.
Condos started in mid90s, those years when Alice Goo family migrante in philippines due to China strict policys it means those condos are reserves for chinese immigrants but since chinese nowadays have negative issues here, they choose western countrys for rich immigrants
2:14 dagsaan kasi mga Chinese
If you would ask someone who's working sa mga developers, they will tell you not to buy condos too, primarily because they're too overpriced. Kung di sila magbababa ng presyo, display na lang sila lol.
Oversupplied kasi nag alisan na mga POGOs tapos hindi naman sapat kinikita ng mga Pinoy para bumili niyan
Ung inflation tinututukan, price of utilities monitor din ng congress, pero ung values ng real estate ang off the radar in terms of regulation. Rent or property prices drives up cost of living and it contributes a major factor to it. Minsan di mo alam kung matutuwa ka sa infrastructure development. Giginhawa nga buhay pang araw araw in terms of mobility pero ang kapalit magtatayuan ng ibat ibang development at gagawin pa nilang marketing point ung infra development. Mangyyre tataas ang presyohan sa lugar na iyon, magmamahal lahat.
Hindi dadame ang supply kung hindi maganda ang kitaan jan. Biruin mo maliit na lote kayo mo tayuan ng ilang palapag na vertical tapos ang puhunan lng sa pag construct ng studio 26sqm nasa 500k pero ang benta nila 5m, this is a 15yr old slowly building bubble.
Kulang ang info…need to mention percentage of foreign owners and their nationalities…also, default rate of owners giving up their condos
Simple lang, Overpriced, small units and high traffic. 🤮 plus hidden fees in the future like special assessment. Iba pa rin may sariling bahay at lupa.
Dati talaga nakakahumaling ung mga condo dahil community living buti nlng di ako bumigay. May friend ako binenta sken unit nya at a good location sa kapitolyo kinuha ko kase same price nya nakuha binenta sken 2m tas hulugan pa for 5 years. Dun ko nkta what condo living is about and i am happy na di ako nag commit ng malaking pera para kumuha ng mga sobrang mamahal na condo. Mas masya ako sa bahay namen sa Manila, pinaparenthan ko nlng ung condo long term. Di rin malaki kita atleast di ako negative at may konting pandagdag sa gastusin. 9k lng malinis kong kita duon.
Very few are buying...but if you're one for the long term, go for it 🤗🤗🤗
It seems to me that with many firesales coming around soon people once priced out of the market can have a chance to enter the real estate market. How low the equibrium will be for certain market segments will be a wild ride. Smart developers should now be motivated to be creative in their pricing and payment schemes if they want to get past this downcycle. Their margins are probably big enought to absorb a major haircuts in margins. Assuming this doesnt turn into a debt crisis then most will get to live another day. Extended rent to own schemes with lower per sqm prices will be great for many to get on the property ladder. As long as the economy is still growing wiith favorable demographics, time is on our side.
being bullish isn't always a good mindset. please be realistic Mr Leechiu
Not exactly oversupply. But an imbalance. More units that most cannot afford, but fewer units that many need.
Poor market planning. Plus Metro Manila is overbought. Taas nang taas ng price per sqm pero mga tao 4am pumipila para makapag commute from Cavite, Bulacan or Rizal patungong office sa QC, Makati o Ortigas. If afford nila to buy or to rent what's been built in the metro, bakit pa sila matitiyaga sa madaling araw na pila sa sakayan?
Time to bring the jobs to where people actually live. Either WFH or open satellite offices.
Pwedeng greed. Pwede ding kulang sa imagination. Hehehe. The truth is, sa sobrang mahal na per sqm, many metro manila lots hindi na feasible to develop. Esp sa BGC. Arca South 1.5B na isang 2k sqm lot dun. Land cost pa lang yan. Paano pa construction cost? Anong itatayo mo na makakabawi ka at the same time ma-afford ng pangkaraniwang salary earner?
It's not an oversupply it's the ridiculous high prices. For example small ugly SM condos are selling for 6m. Greedy developers buying up all the land and then making condos thinking of making a profit of 2000 percent.
Positive scriptingpeg nila hahaha
Sobrang greedy ng mga developers na sobrang over priced ng per sqm ng unit wala pang parking space. Hopefully they adjust the pricing sa future. Sana ma bulok yung mga mamahalin na condo units na yan.
Kahit nasa upper middle class ka, hirap pa din bumili ng condo. Mataas yung monthly fees tapos may mga hidden charges pa.
What is confusing me is are they paying taxes religiously and why the currency of peso still struggling including wages for those salary is too low.
people are goin to nearby provinces much cheaper clean air metro manila is too clogged already better to live in the province we have internet all over the country starlink etc
Wag niyo bilhin para lalo pa bumaba na halos pamigay presyo na lang...
Nawala na ang mga Pogo! Ok lang yan!
I would rather buy a house and lot in the Philippines. I’ll probably rent a condo if I get a good deal, but never invest in it. Watch what was happening on condos in Florida USA. That should scare you.
I think even high end market will be hard to sell. It's just the rich doesn't need to sell at loosing price.
Because overpriced
Overpricing higher taxes boom it backfires
patawa nga s pinas ang presyuhan...
And the continued gentrification of slum areas into condos instead of apartments that are meant for housing people.
Its so expensive because they thought that chinese can be milked their money during POGO operations in this country 😂😂😂 but they ban
WAG KAYONG BUMILI NGAYON! Wag kayong maniwala jan sa "it's the best time to buy" eme. Hayaan niyong malugi yanG mga yan ng mag bagsakan talaga ang presyo.
LOL, love how they try to make it seem like this is a time to buy when the prices are extremely overpriced
Good luck to everyone who is waiting for the “bubble” or market “correction”. Pero hindi eh. Lumang tugtugin na to. 13 years ago ganyan na din linyahan. Did the prices go down? No it didn’t.
Exactly.
Back in 2012, everyone was saying condos in BGC are very expensive. Most were telling me to wait for prices to go down. However, I pulled the trigger and bought 3 units, 2 from Avida and 1 from Trion. Best decision I ever made as the prices never went down and in fact almost quadruppled.
Wag ka sa bgc lang bumase... Qc, makati, at pasay. It's all about law of supply and demand.
@@josephseason good on you sir. my mistake was I waited too long and believed in these so called experts. bababa daw eventually and mag pplateau yung price the ff year. This was back 2011. I waited until 2016, and at that time nag double na yung price. maauna pa pumuti ang uwak.
@@ChinoIlagan malamang naman na location plays a key role. its not apples to apples comparing metro condos to say outer luzon ones. ang masabi ko lang if you find it overpriced then dont buy.
found the real estate guy.
The issue here is overpricing. Most middle-class people can't afford to buy or even rent those overpriced substandard units.
Developers are in denial. They built because of POGOS.
BGC is overpriced - the rents are low relative to the price. I own condos in Makati and MoA and I rent them out on Airbnb. I get very good cashflow/ROI. Rent to Price ratios ( via Airbnb) are very high... even higher than most US metropolitan areas. (I am a Filam from Las Vegas. I also live in Makati).
Because almost 50% can't buy condos
Hindi naman kasi target market ng mga condo devs. ang mga mahihirap
80%
And they're making it smaller and smaller while increasing the price by tenfold.
154 B / 27 K = 5.55 M ave./unit? That's way overpriced vs. before the boom (2019)
Yes, the reason is greedines on the part of the developers. Some condos have substandard finishings. For example, my godchild bought a studio unit in amaia skies. There is no space to put even a one burner stove, the faucet is a low class one and she bought it for 2.2 million. If these buyers can see the kind of condos being sold here in japan, they might wish to buy one. And these condos come with a parking space.
Because work from home setup is the future.
Office space leasing marami vacant spaces pero hndi yun ang problem, greedy lang talaga land lords gsto mas malaki ang payment rent kada month kaya yung potential tenants/companies lumalayo nalang sa manila dahil sa taas ng rent
si leechiu na rin nag sabi nyan sa podcast niya sa youtube channel ni John Dang
Same lang na mahal ang house and lot at condo. House and lot if pamilyadong tao at sa pinas lang nakatira. Condos are good sa mga pinoy living and working sa ibang bansa lalo kung wala naman titira sa house and lot nila.
Wag kayo maniniwala sa tangang yan,.low interest? E ano naman.. low Roi ka jan, maski na sabihin mo for shelter mo mga condo. I doubt it. 0 percent ROI ka jan
Overpriced lang talaga, not over supply. Babaan nyo ang price maraming kukuha nyan
it's not good to buy kasi mahal pa din kahit oversupply, pero maybe it's good to rent kasi madami options.
Too expensive and mega over-priced!!! In Iloilo City a shoe box condo is around 7.5M and the prime parking spot is 1M. Plus a monthly maintenance fee. The developers and the realtors are SUPER GREEDY. With 7.5 M pesos in hand. As a future retiree I rather build a small house that it's easy to maintain.
Pricing was inflated 330% over the last couple years and not worth. Bangkok is 75% cheaper and the quality is 100% better.