These are my observations after about 10 days staying in IT Park. It's an odd alternative reality. I'm 50. As an American, it feels a lot like living on a college campus. It's probably the neatest and most secure place you can live in central Cebu. There are restaurants, many coffee shops, maybe 5 Jolllibees and a half-dozen 7-Elevens, barbers, a considerable mall, dentists and general doctors, gyms, basically, all you need. But I feel like I'm living in someone else's reality. That someone else is in their 20s, maybe 30s, works at night, is Filipino, lives in a poorer area, and busses in and out. There are TONS of taxis and habal-habals (informal motorcycle taxis), mini-buses to all points. It's designed for those who work in the call centers. A lot's made about the Sugbo Mercado night market, but if you've spent any time in Thailand, Malaysia, etc. you'll wonder where the rest of it is. It's a couple dozen stalls selling the same stuff you can get at the mall. And they're not especially friendly. Far faaar less than the average mall-front night market in BKK. I enjoy my Airbnb here and feel relieved to come back here. It's, like, just not living in the real world. Great place to stay for a week or two, but I wouldn't live here. It's not "really" living in the Philippines. I see some older foreigners, but not that many. They seem a bit lost. Unlike around other parts. You won't turn any heads here unless you're young and handsome, or Korean. You walk outside the IT Park gates and you're immediately amid noise, poverty, and stuff falling apart. If it's your first time in Cebu, IT Park is a great place to get your bearings for a week or two. Not much more if you want to experience and enjoy this country. Always appreciate your content, Rod.
Thanks for your thoughts SEO. I find IT Park to be a "unique" experience also. I have met several foreigners who have lived their full time, some working or owning a call center. A foreigner actually owns this unit and had lived here for quite some time.
@@AmazingPhilippines1 I stayed in a couple of Airbnb's in IT Park and I loved it there. No roosters, no karaoke, no beggars, and it's clean. To me you get the benefits of living in the Philippines without the big negatives.
Thanks for that. It's hard to get a real overview of a property from someone like myself, who considers living in the Philippines. Indeed many places are great for a week or two, but living there is a whole different story. Good luck with your search
I like Cebu IT Park area but this is an INSANE PRICE. 19M? = 340k usd. I'll rent a 2BR furnished condo for 700usd/month (8,400/year) in same location instead. And have complete freedom to move anywhere I want at anytime. With zero risk and a full bank account.
So glad to have found this video. I was thinking about investing in a property in the Philippines. But this video changed my mind forever. It makes less and less sense for expats to invest in properties in the Philippines. If you calculate how much you would have to pay rent for this apt. per year, it will come to roughly 3-4% of the purchase price. Which is reasonable. The owner on the other hand, has to deal with maintenance fees and actual maintenance of the apt. And if you're purchasing as a rental income investment, you have to deal with it sitting empty from time to time, while you are still paying all the fees. As well as bad tenants who will destroy the furniture. In SE Asia it's much better to rent than to own. Same goes for Malaysia
Good job Rod. The 19MM pesos sounds very pricey for a 2BR. How much are the association dues per month? Those typically increase faster than inflation and become pretty awful after a while.
Nice condo in a convenient location close to needed amenities. For the asking price, I will just continue to rent and move around various places within the Visayas to adapt with challenges that comes with living here. Found a beautiful condo in Bacolod and will probably move there soon. Thanks for the heads up Rod.🎉😊
Thanks as always for the informative real estate info, Rod. $352k USD is a USA price even though I was impressed by the area. Please keep this up, Cebu is on my list of potential retirement destinations and your presentation style seems designed for me and my friends watching to see if the Philippines is our best choice
People move to the Philippines for lower costs because they need lower prices, and some move to the Philippines because they're CHEAP! CHEAP! CHEAP! You can't touch this Condo anywhere in America, in one of it's larger cities for less than a million bucks. This is comparable to a large city in Florida. with this location? C'mon man!? CHEAP! CHEAP! CHEAP! If you can't afford it, just say so!? I hear Foriegners on these videos PUT DOWN prices and the people that put out the videos. Please put your real names so I'll know to walk away when I meet you. Absolutely horrible people. I can't imagine the beautiful people of the Philippines putting up with you!
Thanks Rod. Very informative. If I've surmised correctly, it would appear that Cebu City is desirable with the availability of many western-like amenities. Further, IT Park is a premium location in the city. I'd prefer to rent rather than own, regardless of the location. However, I plan to visit Cebu City later this year. From my observations (thanks to you), I'll compare condo and apartment rentals throughout the city, including IT Park. It's definitely worth a look. And I'll pay a premium to avert the roosters too. That's a sanity buster, at least for me. Thanks again. Stay safe and well.
Hi Rod. I've been very busy lately and I was not able to watch your videos. Anyway, condo is in a good location but a little bit pricey. Good luck to the owner selling it. Take care always Rod and God bless.
The approx 50:1 currency exchange rate with the US still perplexes me to this day -- especially when it comes to property. This same unit would go for practically the same price in many parts of the US, including major cities. As many times as I've visited the Philippines, where does the 50:1 manifest most? I've experienced some savings, depending upon the products or services in question, but yet to see 50:1 in virtually any circumstance.
Right now and for a while, any Cebu money changer will give you 55.35 to the greenback so your Five peso mistake is costly up this higher end. Just saying, ok?
@@clambake3293 It clearly has no relationship, hence the reason I made the post. My intent was to learn what the 2 values reflected, since the day to day practical application in commerce doesn't seem to be it.
Ok.......$352,000 invested at a 7% dividend distribution rate and you're making over $24,000 per year or $2000 per month. What kind of place can you get for $2,000 per month?
@AmazingPhilippines1 That is my hope that Cebu will be saturated with unsold condos and the prices will go down a bit. I've notice they are spring up everywhere and there are more planning to spring up in Cebu City in the new future. I think its better to buy in a development with a reputable developer in the beginning stages for a cheaper price. It may take 3 years to complete the turnover,, but it may save you a lot of money. As always Rod your work is greatly appreciated. Thanks..
I'm moving to Cebu at the end of the summer to be with my wife. I'm so thankful that you can show things like this and what they go for on today's market. I was looking into cheaper places like 5-9million peso but IT Park is the top of the top. If you make a video like this over in the buildings in Mactan Newtown I'd like to see that. Anything JRC is selling over there I'd be interested in seeing and your honest impression is wonderful as well. Keep it up man, doing a public service
352k USD for 1100 sq ft? That's about the same as a house here in redding, CA. A Philippine condo shouldnt get anything remotely close to a CA house price. I wouldn't go over 40% of that price, and at that, I'd be unlikely to buy.
There's a American UA-camr I was watching he owns a condo in Boracay and another one in BGC and he's been in real estate before and he said don't buy anything right now it's way over inflated. The same condo he bought just 3 years ago for 3 million pesos now they're trying to sell for 8 million. The rent prices are nowhere near catching up to the over-inflated price of buying
@@traveler3137 yup I've been coming here over thirty years , married to a Cebuano girl for 34 years. We own over on Mactan and also have rice fields on Bohol
That's a lot of money to put into a condo in the Philippines. There are other areas in the Philippines that offer more for a lot less . I know of beautiful beach front modern homes going for about 180k American dollars in other areas. Then you have to pay association dues too. The world economy as it is isn't going to support those kind of prices there.
Are you a property appraiser or a licensed real estate agent in Cebu? What do you base your hypothesis that the unit is extremely overpriced on? I am curious.
@@coffeecup3177 also you should know the legal definition of condo it reads the cubic air spaces between walls ceilings and floors in other words YOU GET NOTHING
@@michaelstewart399 You actually get a nice furnished, large safe place to stay in a full service building with 2 parking spaces. If you decide to move you get an income producing property in a desirable neighborhood within the business center. You stated the condo was "extremely overpriced". Did you base that comment on square footage, comparative units that were resold, or you spent a lifetime of working and have not saved a dime. Your $1327.00 per month SS check puts it out of your reach.
Some interesting comments so far, but I'll have to agree with the basic sentiment that's a lot of money. That actually close to the average price of a house here in the US. But in all fairness it's about right for that market, condo prices in the Philippines, especially Cebu City, are insane high. Manila is even worse, there you can get condos in the million US dollar range.
I have been amazed looking at charts of how property prices here in Cebu have risen over the years. Like I told the RE agent, many will complain about the price but you are only looking for those with the money who are interested in this location.
Real estate in the Philippines is over rated and over priced for what you actually get. One of the many reasons a lot (majority) of real estate listings are unsold for years. Better off renting if you want to live in an urban area or purchase a lot and have a small house built in the province if you are married to a Filipina.
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These are my observations after about 10 days staying in IT Park. It's an odd alternative reality. I'm 50. As an American, it feels a lot like living on a college campus. It's probably the neatest and most secure place you can live in central Cebu. There are restaurants, many coffee shops, maybe 5 Jolllibees and a half-dozen 7-Elevens, barbers, a considerable mall, dentists and general doctors, gyms, basically, all you need. But I feel like I'm living in someone else's reality. That someone else is in their 20s, maybe 30s, works at night, is Filipino, lives in a poorer area, and busses in and out. There are TONS of taxis and habal-habals (informal motorcycle taxis), mini-buses to all points. It's designed for those who work in the call centers.
A lot's made about the Sugbo Mercado night market, but if you've spent any time in Thailand, Malaysia, etc. you'll wonder where the rest of it is. It's a couple dozen stalls selling the same stuff you can get at the mall. And they're not especially friendly. Far faaar less than the average mall-front night market in BKK.
I enjoy my Airbnb here and feel relieved to come back here. It's, like, just not living in the real world. Great place to stay for a week or two, but I wouldn't live here. It's not "really" living in the Philippines. I see some older foreigners, but not that many. They seem a bit lost. Unlike around other parts. You won't turn any heads here unless you're young and handsome, or Korean. You walk outside the IT Park gates and you're immediately amid noise, poverty, and stuff falling apart.
If it's your first time in Cebu, IT Park is a great place to get your bearings for a week or two. Not much more if you want to experience and enjoy this country.
Always appreciate your content, Rod.
Thanks for your thoughts SEO. I find IT Park to be a "unique" experience also. I have met several foreigners who have lived their full time, some working or owning a call center. A foreigner actually owns this unit and had lived here for quite some time.
@@AmazingPhilippines1 I stayed in a couple of Airbnb's in IT Park and I loved it there. No roosters, no karaoke, no beggars, and it's clean. To me you get the benefits of living in the Philippines without the big negatives.
Thanks for that. It's hard to get a real overview of a property from someone like myself, who considers living in the Philippines. Indeed many places are great for a week or two, but living there is a whole different story. Good luck with your search
wow.....19 mil pesos......I've stayed in IT for years, definitely a nice upscale environment , but the asking price is Halloween scary...
I like Cebu IT Park area but this is an INSANE PRICE. 19M? = 340k usd. I'll rent a 2BR furnished condo for 700usd/month (8,400/year) in same location instead. And have complete freedom to move anywhere I want at anytime. With zero risk and a full bank account.
So glad to have found this video. I was thinking about investing in a property in the Philippines. But this video changed my mind forever. It makes less and less sense for expats to invest in properties in the Philippines. If you calculate how much you would have to pay rent for this apt. per year, it will come to roughly 3-4% of the purchase price. Which is reasonable. The owner on the other hand, has to deal with maintenance fees and actual maintenance of the apt. And if you're purchasing as a rental income investment, you have to deal with it sitting empty from time to time, while you are still paying all the fees. As well as bad tenants who will destroy the furniture.
In SE Asia it's much better to rent than to own. Same goes for Malaysia
Good job Rod. The 19MM pesos sounds very pricey for a 2BR. How much are the association dues per month? Those typically increase faster than inflation and become pretty awful after a while.
Nice condo in a convenient location close to needed amenities. For the asking price, I will just continue to rent and move around various places within the Visayas to adapt with challenges that comes with living here. Found a beautiful condo in Bacolod and will probably move there soon. Thanks for the heads up Rod.🎉😊
How much that Condo would rent for? Any idea?
@@78swats Rent for a brand new 30sqm. condo in Magdalagan, Bacolod is 25k/mo.
Cool! Enjoy your move to Bacolod Chris.
@@chrislaveen543 I meant the rent for the Condo shown here in Cebu.
Thanks as always for the informative real estate info, Rod. $352k USD is a USA price even though I was impressed by the area. Please keep this up, Cebu is on my list of potential retirement destinations and your presentation style seems designed for me and my friends watching to see if the Philippines is our best choice
Thanks Hank. IT Park is a unique area in Cebu City, not Makati by a long shot, but has many options.
Where are the 60k condos for poor people like me lol.
Far away from IT Park
60K is not for poor people . That's expensive!
You could buy one as good as this at this price in Australia
For the rich only some people have the luxury of paying what ever if they want to be there good video once again Rod
This is true Dennis. Location and lifestyle are a lifestyle some can afford and want.
$352,000 USD?.......ouch!😎
No way
@@traveler3137 for that kind of money, you could rent a nice condo or house in the PI for about 40 years.
For that price they can keep it. Simply criminal.
People move to the Philippines for lower costs because they need lower prices, and some move to the Philippines because they're CHEAP! CHEAP! CHEAP!
You can't touch this Condo anywhere in America, in one of it's larger cities for less than a million bucks.
This is comparable to a large city in Florida. with this location?
C'mon man!?
CHEAP! CHEAP! CHEAP!
If you can't afford it, just say so!?
I hear Foriegners on these videos PUT DOWN prices and the people that put out the videos. Please put your real names so I'll know to walk away when I meet you.
Absolutely horrible people. I can't imagine the beautiful people of the Philippines putting up with you!
Seriously...I don't understand it...
Thanks Rod. Very informative. If I've surmised correctly, it would appear that Cebu City is desirable with the availability of many western-like amenities. Further, IT Park is a premium location in the city. I'd prefer to rent rather than own, regardless of the location. However, I plan to visit Cebu City later this year. From my observations (thanks to you), I'll compare condo and apartment rentals throughout the city, including IT Park. It's definitely worth a look. And I'll pay a premium to avert the roosters too. That's a sanity buster, at least for me. Thanks again. Stay safe and well.
Thanks Thomas!
i agree ,,,,,,if i had $352,000 i would stay in the usa,,,NOT REALLYY IMPRESSED
Hi Rod. I've been very busy lately and I was not able to watch your videos. Anyway, condo is in a good location but a little bit pricey. Good luck to the owner selling it. Take care always Rod and God bless.
Hi Jane. Good to hear from you. I think the property is negotiable also. Take care.
Easy to buy hard to sell...rent is very cheap in Cebu city, Philippines.
Rent for a few years first things can change ....WOW 19 MILLION.
scam price 8-10 million max only
Maybe next time let natural light flow in every room. It looks very dark with all the curtains. Not too inviting. Just suggestions. Thanks.
Thanks for the tips!
Thanks for the condo tour!
Thanks James.
The approx 50:1 currency exchange rate with the US still perplexes me to this day -- especially when it comes to property. This same unit would go for practically the same price in many parts of the US, including major cities. As many times as I've visited the Philippines, where does the 50:1 manifest most? I've experienced some savings, depending upon the products or services in question, but yet to see 50:1 in virtually any circumstance.
Right now and for a while, any Cebu money changer will give you 55.35 to the greenback so your Five peso mistake is costly up this higher end. Just saying, ok?
I believe your 50:1 concept is skewed...as it has no relationship to Pi vs Usa price comparisons.
@@clambake3293 It clearly has no relationship, hence the reason I made the post. My intent was to learn what the 2 values reflected, since the day to day practical application in commerce doesn't seem to be it.
Ok.......$352,000 invested at a 7% dividend distribution rate and you're making over $24,000 per year or $2000 per month. What kind of place can you get for $2,000 per month?
Why are condo prices so high in the philippines, compared to Thailand?
I was told Thailand overbuilt years ago Daniel....supply and demand. The PH may be doing the same in the coming years.
@AmazingPhilippines1 That is my hope that Cebu will be saturated with unsold condos and the prices will go down a bit. I've notice they are spring up everywhere and there are more planning to spring up in Cebu City in the new future. I think its better to buy in a development with a reputable developer in the beginning stages for a cheaper price. It may take 3 years to complete the turnover,, but it may save you a lot of money. As always Rod your work is greatly appreciated. Thanks..
Looks nice good location .
Mmmmm... Looks great.
wow, 356k USD 😮
m8 thanks for ya time makeing this video.
I'm moving to Cebu at the end of the summer to be with my wife. I'm so thankful that you can show things like this and what they go for on today's market. I was looking into cheaper places like 5-9million peso but IT Park is the top of the top. If you make a video like this over in the buildings in Mactan Newtown I'd like to see that. Anything JRC is selling over there I'd be interested in seeing and your honest impression is wonderful as well. Keep it up man, doing a public service
Thanks Team Maric. I have been surprised at how fast property prices have risen here over the 8 years I have been here.
tandem parking lot is hard to get the other car behind the first.
Rod you should buy it... its only $352k....
Nice Rod...to see how the other half live...lol
I like the building, Asia Premier and IT Park so someone will probably pick this one up Jim.
👍🏻👍🏻’s up! Nice condo! The furniture is substandard and the unit is overpriced!
How many bathrooms & condo fees are any ideas
352k USD for 1100 sq ft? That's about the same as a house here in redding, CA. A Philippine condo shouldnt get anything remotely close to a CA house price. I wouldn't go over 40% of that price, and at that, I'd be unlikely to buy.
There's a American UA-camr I was watching he owns a condo in Boracay and another one in BGC and he's been in real estate before and he said don't buy anything right now it's way over inflated. The same condo he bought just 3 years ago for 3 million pesos now they're trying to sell for 8 million. The rent prices are nowhere near catching up to the over-inflated price of buying
Then stay in California then. People that have businesses or work contracts in Cebu will buy in Cebu at Cebu prices.
Thanks Rod,great video as always.
I am a disabled man with a service dog. Do you know of any places that are disabled-friendly?
Why the heck is the cook stove do not have ovens in them so you can bake. Do people not bake in the Philippines just eat rice and chicken.
Stoves are a bit rare here Daniel. I bought a convection oven and air fryer and that does the baking for me.
I could do so much more with 325k then to throw it into a average at best condo.
Where in IT PARK ? I'm staying at AVIDA TOWER.
Avida is in IT Park Liezl.
WOW $340,000 USD. TO much
G'day Rod, I am currently in Cebu and will be here approx another week, I wud love to meet up for a chat if possible? Cheers.Geoff
@@traveler3137 yup I've been coming here over thirty years , married to a Cebuano girl for 34 years. We own over on Mactan and also have rice fields on Bohol
Send me an email Geoff. AmazingPhilippinesdoitnow@gmail.com
It is difficult to communicate over these comments.
Is this still available
I believe so but I am checking now. Email me please at: AmazingPhilippinesdoitnow@gmail.com
It's a stupid price that only stupid people can afford it. pls. forgive my rudeness
how much this unit
You can lease land and build a home on it. Just sign 30 year lease renewable
I have 2 BR in Avida Riala, without parking. but fully furnished. 14 MM
How many bathrooms
Seems like IT Park has priced the locals out.
There are many locals with money also Rick but not your average call center agent.
Can Single Americans buy a condo?
Yes, foreigners can buy a condo here Franco.
Did you say this was in L.A. ? Lol 😱
Nope, not even close to skid row 😄
I dont know, this price seems a bit absurd---where is the affordability that we keep hearing about??
That's a lot of money to put into a condo in the Philippines. There are other areas in the Philippines that offer more for a lot less . I know of beautiful beach front modern homes going for about 180k American dollars in other areas. Then you have to pay association dues too. The world economy as it is isn't going to support those kind of prices there.
If this is your opinion of premium I'd hate to see what you describe as basic condo.
2nd hand market of condos is not great in the Philippines.
Price?
It is in the video Mark.
Just tell me how much it is right away. stop watching and look at the comment section for the price.
A great show but extremely overpriced
Are you a property appraiser or a licensed real estate agent in Cebu? What do you base your hypothesis that the unit is extremely overpriced on? I am curious.
@@coffeecup3177 open your eyes
@@coffeecup3177 also you should know the legal definition of condo it reads the cubic air spaces between walls ceilings and floors in other words YOU GET NOTHING
@@michaelstewart399 You actually get a nice furnished, large safe place to stay in a full service building with 2 parking spaces. If you decide to move you get an income producing property in a desirable neighborhood within the business center. You stated the condo was "extremely overpriced". Did you base that comment on square footage, comparative units that were resold, or you spent a lifetime of working and have not saved a dime. Your $1327.00 per month SS check puts it out of your reach.
Some interesting comments so far, but I'll have to agree with the basic sentiment that's a lot of money. That actually close to the average price of a house here in the US. But in all fairness it's about right for that market, condo prices in the Philippines, especially Cebu City, are insane high. Manila is even worse, there you can get condos in the million US dollar range.
I have been amazed looking at charts of how property prices here in Cebu have risen over the years. Like I told the RE agent, many will complain about the price but you are only looking for those with the money who are interested in this location.
lol... Who in their right mind pays that kind of money for a condo, in Cebu?
Lots of people that are above your income bracket
Real estate in the Philippines is over rated and over priced for what you actually get. One of the many reasons a lot (majority) of real estate listings are unsold for years. Better off renting if you want to live in an urban area or purchase a lot and have a small house built in the province if you are married to a Filipina.
Not cheap in the Philippines anymore.
Why would rich ppl live in a shoe box? They need to be at least 140 square meters.
Oppps can’t do those condo units
Not my style Rod sorry haha
2 parking spaces in front of each others, no really useful if you want to rent one.
I am shocked to hear roughly 1 million pesos for a parking space.
I'd buy it for $222,000.
Cash.
@Neil Gonzalez we only take bitcoin 😅😂
@@last_samurai6690 Just kidding. I don't have that kind of money to spend.
@traveler3137 Yeah, you're right. Lol
TOO DARK
How much
How much
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