Is Condo a Good Investment?: 6 Reasons To Get A Condo Investment
If you are a first-time investor, you would definitely be on the lookout for the best investment in the Philippines. It can be quite difficult to pick between stocks, mutual funds, insurances, and real estate. And if you do pick real estate, you also have lots of properties to choose from!
One of the popular properties in the Philippines are condos. Most condos are known for their wow factors, like their resort-style amenities and excellent community options such as easy access to important establishments. Yet in the eyes of a first-time investor, you might see past these factors and ask, “But is buying a condo a good investment in the Philippines?
Aside from real estate property type, location is also important if you want to be successful in your real estate investment. Ideally, you should invest in a location that is accessible, developed, and if possible, a tourist destination so that living here is convenient and profitable. Thankfully, Cebu is one of the places to invest in real estate in the Philippines. Why?
With big-ticket infrastructure projects propelling Cebu’s real estate and more people looking for a worthy investment, Cebu is a great area to look for residential properties for personal use or as a source of passive income. Whether you are looking for a new permanent home, a vacation home, or an investment property that is sure to give you impressive return-on-investment (ROI), you can never go wrong with Cebu properties.
Part of the new infrastructure projects in Cebu right now is PrimaryHomes’ Royal Oceancrest Mactan. This Neo-Asian minimalist-inspired high-rise condominium is located in Sudtunggan Road, Barangay Basak, Lapu-Lapu City in Cebu.
To all first timers in investing, this article will help answer your question about why it’s best to invest in a condo in Cebu. Read through the 10 reasons why yes, getting a condo in Primary Homes is a worthwhile investment in the country.
1. A condo is a tangible and stable investment.
Perhaps you are familiar with the saying that seeing is believing. You can apply this saying in certain situations in your life, such as picking a condo as your real estate investment in the Philippines.
You can actually touch and paint the walls and furniture in your condo, compared to watching stocks go up and down on your phone. More importantly, you and your loved ones can use and live in the unit. Especially if you’re going to invest in a condominium in Cebu, the more you will benefit from your condo. Being a world-class city, Cebu City houses the Mactan-Cebu International Airport, the second busiest airport in the country.
If you choose to live in Royal Oceancrest Mactan, you are just a few blocks away or 15 minutes from the airport! Thus, it is ideal for avid travelers and businessmen who want or need to frequently fly. It’s a gateway to new experiences and meeting all kinds of people. You can explore the nearby provinces which are just a ferry or car ride away.
Without a doubt, a condo is one of the smart ways to invest during the pandemic because they are stable and crisis-proof investments. They are long-term investments that can increase in value over time, and they are not going to be as unpredictable as other investment options.
2. A condo is a good emergency option.
For example, you need to go to Cebu for long-term purposes. Where would you stay? You have to stay over a relative if they have enough space. But what if they don’t?
A secured and well-maintained condo in Royal Oceancrest Mactan is here to the rescue! You do not have to go through the stress of booking accommodations anymore. You can just stay in your own unit, and enjoy the amenities on the property.
Plus, having an investment such as this can come in handy especially if there comes a time when you need extra funds. If worse comes to worst, you can always use your condo as collateral for loans. A good check on your credit history, income, and properties will help your lenders evaluate that you are eligible for loans. With a good condo in your investment profile, you increase your chances of getting your loan approved.
3. A condo can be a good source of passive income.
Once we are nearing the age of retirement, our capacity to work is not the same anymore. Our movements will be slowed or limited, so we need the best investment in the Philippines that will enable us to earn passive income. And condos, being a perfect place for relaxation or people looking for rental properties, can be your best pick to do so.
It’s no surprise why real estate properties are great investment options for retiring Overseas Filipino Workers (OFWs). OFWs can save and purchase well-maintained properties while they are still in their prime years, then rent out their condos using digital apps without needing to constantly travel to and fro to their properties.
With an increasing influx of people visiting and staying in Cebu City due to its strategic location, it is also an ideal site to grow businesses that cater to the needs and wants of residents and visitors alike. Foreign buyers are also interested in Cebu real estate properties either for short or long-term rentals, as it’s the perfect business opportunity even for newbie investors. With more and more people residing and visiting the city, Cebu's tourism industry thrives. Accompanied by a growing market, there’s no doubt that there’s also a huge demand for the retail industry to manufacture and sell more goods and services to residents and tourists.
If you didn’t know already, about 80% of the domestic and international shipping operators and shipbuilding companies, and operators are in Cebu. The port of Cebu is the largest shipping hub on the whole island of Visayas. Basically, a freeport like Cebu is special because these ports have normal tax and customs rules that do not apply. This gives the manufacturers and businesses in Cebu the perfect advantage because they can easily acquire imported products and materials which they can use to manufacture their own products and export again to earn income.
This evidence show that owning a condo in Cebu, especially a unit in Royal Oceancrest Mactan, is advantageous especially if you want to earn significant income from your investment.
4. A condo has fewer financial risks for first-time investors.
Even first-timer investors know that investing in anything always comes with risk. But a condo, however, has fewer risks.
For example, investing in a condo does not always mean shelling out boatloads of money. In fact, it is one of the most common misconceptions in real estate investing. Most condos like Royal Oceancrest Cebu offer world-class amenities but also have workable payment options for potential buyers.
Remember that you also do not have to be a veteran investor if you want to pick a condo as your first real estate investment in the Philippines. Great condo properties under excellent management also have licensed real estate agents and developers that you can trust, and you'll always have them to guide you.
If you have property concerns and queries, you can always ask questions from trusted and reliable real estate developers.
As an ideal location for business and tourism, Cebu real estate properties have high appraisal value and promise impressive returns on investment.
The prices of properties here are on an upward trend. If you wait too long before buying your dream Cebu real estate property, there’s a high chance that the price of the property you wanted has increased significantly in a short period of time.
Some of the emerging business and developments in Cebu City that make living here truly a world-class experience include Isla dela Victoria, SM Ayala Consortium, SM Seaside City Cebu, Il Corso LIfemalls, Cebu Ocean Park, and Anjo World Theme Park.
Investing in Cebu real estate properties as early as now before these projects are finished is very advantageous for you and your budget. Once infrastructures are completed, the real estate prices in Cebu, whether commercial or residential, is sure to skyrocket because of the new advantages these infrastructures give to people.
5. A condo is a great choice for a forever home.
In case you are still not convinced that buying a condo is the best investment in the Philippines, keep this in mind: a condo is also a great option for a home!
Condos require less maintenance and repairs because the developers will be the ones doing it for you. Depending on the property, you also have access to cool amenities like wide swimming pools, relaxing green spaces, fun playgrounds, and more.
Also, condos are placed in strategic locations and in thriving communities. Royal Oceancrest Cebu is one example of such property, where it is located near major establishments and provides a safe and secure environment for condo dwellers.
Definitely, condos are great housing options to consider whether you are single, married with kids, or just recently married couples who are starting to build a family of their own.
6. A condo is definitely a legacy investment.
Whether you plan on building your own family in the future or becoming the rich, mysterious aunt or uncle that treats her loved ones a lot, you can always hand down your condo as a legacy investment.
Real estate properties are common heirlooms from one generation to the next, and you can be assured that your loved ones are staying in a great home for years to come.
Your kids and your loved ones will always have a place to go to for leisure or an option for their forever home. Plus, they can always use it as a source of passive income (like you did!) when times get rough.
Truly, condos are real estate properties that reward lots of benefits for their buyers. Whether you choose to have it as a vacation property or as your permanent residence in the Philippines, you’ll be sure to enjoy those benefits as a first-time investor.
For you to successfully invest in a condo, here are some few points you need to remember:
- Choose the location of your condo wisely if you want to live comfortably or earn significant profit from your property. Highly strategic locations with business potential and tourism advantage is recommended such as Cebu where Royal Oceancrest Mactan is located.
- Talk with licensed real estate brokers for advice. These professionals will help you not only decide what type of condo you should invest in, but also to know the financing options available. If your budget is limited for the time being, you can still purchase your dream condo and pay for it via installments.
- Buy your dream condo now and don’t wait too long. PrimaryHomes’ Royal Oceancrest Mactan is an in-demand condo with modern amenities in a secured and thriving community. Thus, the price of units here will be sold immediately!
To take a tour at Royal Oceancrest Mactan or reserve a unit. Get in touch with trustworthy real estate professionals only at Primary Homes now.