What type of properties do you want us to show next? Mention this video for the best service possible Contact Mike on Facebook facebook.com/FilipinoHomes.tomtomchin?mibextid=nW3QTL to view the condos, any issues let us know! We love making videos like this it's fascinating to us
I have newly renovated studio apartment located in sambag jaro, for rent in early 2024, would be happy to provide more details to your viewers. The studios will be fully furnished and located within 2 minutes walk to st Augustine church
@@BiancaBeyond actually, my newly renovated studios, with kitchenette and ensuite bathroom, are intended for weekly or monthly rental primarily for foreigners or professional local. Feel free to reach out if interested. Unfortunately the units will not be available until January 2024
+1 Accommodation here for the most part became like Gucci cologne level of price markup. Makassar City is a nearby island in Indonesia. The whole city is covered with 400-700 PHP a night hotels. Yogyakarta City, hundreds of festivals per year, again completely loaded with hotels from 300 to 700 PHP. Pattaya City and Jomtien City Thailand even keeps it fair with 900-1000 PHP all over. In Metro Manila, it is the most barebones experience. Had at the cost of pretty much 1300 PHP entry, unless you want 9 SQM. 3 star hotel usually begins at 2100. And for 9 months of the year, there is - Almost never a block party, - almost never a public festival, - almost never even a group of people in the streets having fun and chatting or hanging - it's just overrun by industry, spontaneity is reduced nill, and the whole experience is black/white routine The malls are silent. The bars are almost entirely table squatters, who never talk to anyone outside. Mall of Asia or North EDSA is as far out you have to go before you even see natural behavior and festivity in daily life. In Central Manila, forget it. I stayed in a Greenbelt condo for few months, and the air quality was often so bad it made me and my guests whole body itch. It was not just car exhaust, but toxic fumes from people burning garbage exists out here. The pest control inside condos is almost non-existent, they just condition people to accept it, despite paying premium or living "luxury". So if you stay anywhere near bushes trees and grass, the roaches are the size of mice and will invade every building's room in a several KM radius. I am currently in a condo away from any grass or nature, so the roaches are smaller and less horrifying. I set up 10+ roach traps inside this room and there are still dozens scuttling around. There would be 1000s without it. Most people have 5 cats to take care of their home and keep these away. Overall, November, December, January is the only time you get a sense of real party in this place. That's the only way to play a meta like this. Get in while getting is good and move on... 100
Thank you for this video. It shows that the rent to own is just a teaser for one year, After which you will be subject to in-house financing which the agent did not say the rate cos it's way up high. Then it's not affordable anymore. At around 155k/sqm it's priced for foreigners. Another problem is that parking is NOT included. Also the horror of association dues increases is not included. The search for affordable homes continues.
Pretty high condo fee as that is BGC/Makati pricing. You would also need to minus their management fee for airbnb, likely 20% minimum. A 100% AirBnb occupancy rate is not likely, and a monthly owner subsidy will be necessary. Iloilo is gaining in popularity, but lets hope RU-vidrs don't turn it into a Duemagete.
Atria was P5000 a month so it would seem they are about the same. I don't think Duma could happen again. Places like siargao have 70% foreigner population I think you meant more like that as a fear?
@@BiancaBeyond My Uptown is 95 (Megaworld), and my Makati is 86. Seems crazy that the property in this video in Iloilo is comparable. That is nearly $100/mo US for a 2 bedroom. Personally, if I see a large gathering of Western Expats, I will find somewhere else. I hope Duma doesn't happen again, it is a black eye for us all. As for Siargao, I am a surfer, but Siargao is not the same Siargao that I enjoyed 20 years ago. I know I sound like a crusty older guy, but there are better places to go than Siargao, and I am not necessarily talking about the surf.
@@BiancaBeyond No worries on my end. I don't have a place in Iloilo, but it looks great. It took years for Duma to metastasize into what it is today. While it would be unfair to assume that a similar outcome is destined for Iloilo or anywhere else, everything finds its roots somewhere at some point in time. Sadly, Hawaii is a prime example.
Tiny little boxes that cost P20,000,000 ($352,000) It's not worth half that. I don't think cheap means what you think it does. Do the roosters come with the condo ? Built two years ago and no shops and may never have shops if most of the units don't sell.
As long as its near shops like the Mandurriao public market thats currently undergoing modernization which is just a walking distance that should not be a major concern.
The layout and kitchen cabinets has the appearance of government housing in Eastern Europe. The sales director has the vibe of a used car salesman. He should really let his salespeople do the talking.
Hi Michael and Bianca! I'm an Ilongga viewer living in Toronto and planning to go home for vacation on January 2024, just in time for Dinagyang Festival. Hoping you will also make a vlog about Dinagyang and I'm looking forward to meet you both in person. Best regards and enjoy your stay in the City of Love! ❤
It seems more than fair pricing...Location location location... The 63 sqm option or the loft options are the units that I'd go for... Are there such condo complexes in other islands, i.e. Luzon where I'm going to be settling? As a property I can own outright (right?) as an expat it could be a good investment option above and beyond other areas that our coming LLC would jointly own with a local Filipina... You've got me thinking here...🤔 Good job showing these places and nice to have a knowledgeable rep included...👍 Thanks... An aside: 6'4"???? Holy Cow...😅 🙏🙏🙏 👍😎👍
Has to be a 60/40 split ownership of the company though. Where the Filipino owns 60% of the company. Can come with all sorts of issues if you don't trust them
Some other options. Long term, prepaid, lease ( Up to 50 years) is also an option. Generally, as expats we can't own land. Another is put it in a trust good option if you have a child in common with a Filipina. We can own condo's as the land is held in common with the other units. Of course an attorney will be needed with any of the options...Just don't put it a girlfriends / wife name without getting legal advice! @@greenpoisonivyy
Studio condos right next to festive walk are 4- 6 million for the studio. Notice how he shakes his head no and looks down and away when he says 7.8 mil is pretty reasonable price and also again when he says its a fair price?
Is that the pre-selling price or already built and move in price? If move in ready in festive walk please contact us we have people ready at 4 million!
LOL...Considering that 99% of the Filipino population could never pay that. In many areas one could build a home for $2 million. These companies get you in the door with their creative financing but beware of the ultimate cost. I remember when buying a truck, Toyota and Nissan dealers were charging over 50% apr. Buyer beware.
@@craiggilleland where do you get this information? You know the average starting wage for a fresh university student could afford these here? You can't buy a condo anywhere in the world on minimum wage job. It's true you can build a home and a lot outside the city for a very good price though
Their prices is still cheaper compared than the festive walk area. You have to watch out for the quality of materials they use and the workmanship. I bought a unit at the Palladium, the materials and the workmanship is below standard to my liking, so I remodeled the unit and changed everything, including the kitchen sink and the shower sink. It might be cheap, but watch out for the quality of the materials and workmanship.
The agent is playing games with the numbers. An 8 million mortgage at 8% for 10 years has a monthly payment of 77,650 monthly and that is with 1.6 million down. The Filipino needs a monthly income of 194,000 to qualify. Now tell me how many Filipinos make that plus have the 1.6 million down. This doesn't include taxes, insurance, maintenance fees. @@BiancaBeyond
We saw a posting a few months ago in Banate with a page of auctioned land actually. We couldn't go to see how much they go for but we are very interested in seeing what they end up at
This was so typically Filippino. Confusing and ' or complicated payment schemes, a lack of mastery of knowledge by the rep along with questionable critical thinking ability and the most off-putting part was his mediocre salesmanship. I am not even going to get into the design and thoughtfulness that are put into these units. I hate to say it but the Thai's do it way better.
One thing that people have to keep in mind, it's not when all the units will be sold....It's if in the Philippines. A ton of failed developments or half completed. The master community plans are a best case scenario. You have little recourse if the developer abandons future development. They may leave half finished towers literally next to the one you bought into. Keep in mind even if the building is finished, a lot of condo buildings with vacant units that have never sold 10-15 years vacant. This puts pressure on unit owners as buildings still need the same amount of maintenance. Parking once free may no longer be in the future, pool use may cost (50-150PHP per use per person isn't unheard of) elevators may not get the upkeep they should...Tenants forced to use the stairs. It's something to keep in mind when buying a place.
I’ve been all over Iloilo and I haven’t seen a single large condo project abandoned? Somewhere in the Philippines sure but Iloilo has more money being pumped into it than any other city except New Clark.
@@stephenr2195 That’s great. I can tell you from first hand experience what I said was true. Write your own post about your experiences. This is a cautionary advice dealing with the Philippines. There are no construction bonds ext. These projects can fail. Just wait until the market crashes. I the money will stop.
I was seeing vlogs on in .akati for apaftments for sald they where anout the same price better anmenities better build quality and its in makati if not the same just slightly more but what was significamt was the decor inside had fridge and stove
Makati and we'll all of Manila has tons of competition, lots of supply so that makes sense. The charm of Iloilo is. It's a city without traffic 10-15 min drive you are in the provinces, 30 minutes from your door you can be on a beach in a resort. (Makati has lots of pluses too just explaining why people see value here)
@@BiancaBeyond yes I like liolio to seems like a great place my primary nurse at my hospital is from liolio she's a registered nurse here she hasn't been to liouo for 20 years she should be back or be back soon she might not recognize liolio from 20 years ago
Just looked on air bnb cheapest is $44 canadian dollars plus cleaning fee and it's a very small studio they put two double beds into it which is P1730 (edit in this area I meant,there are cheaper downtown away from Megaworld)Festive walk around P1500 a night)
I was thinking what you had in mind Michael, IF they can really rent out the unit, it could help pay a significant amount of your own payment@@BiancaBeyond
Get Bianca citizenship then buy a land. A Filipina vlogger in Cebu built her own 3-bedroom house up in the mountain, facing the city for only $20k, and it's a beautiful house with spectacular views and plus have cooler weather. Can you imagine what you can do with 100k USD??
WV Towers is quite expensive. I acquired mine last July from Soto Grande at Green Meadows Ilolo, a studio unit for only 2.7 million with a 3-year plan of zero interest. The best part is that it overlooks the beautiful lake and has a spacious elevator, allowing me to bring my bike to my room. For interested renters, I can offer it for 280 USD per month, except for the month of December to the first week of February.
@@BiancaBeyond Hi Mike, I have a 24.5 sqm studio unit. The best part is, I have a bike which allows me to conveniently pedal over to the three shopping malls located across the river. Alternatively, I can simply call a taxi to pick me up whenever I need to go there.
Yea you have to look at the floor plan, some condo developments list the balcony seperate in sqm but floor space and living space are two different terms to look for unlike in the USA where it can't legally be included
Why condos in the Philippines is so high it’s ridiculous! The place is usually small it’s plain robbery it’s better to built your own house, I’ve seen people built thier house for $60,000 only
I live in taguig manila 10 minutes from bgc that price is too much 😮.. I pay less here so guys shop around. About 20 minutes to st Luke's medical center bgc. I guess all comes down to BGC manila vs iloilo.. which you prefer?
Yes Manila has way more supply the prices are much more competitive there, but if Iloilo is your destination or home there isn't a lot of choice yet (many many towers under construction)
Lol they are salesmen so I would hope so, keep in mind the economy in the cities here is booming. Now the average university graduate first job right out of school has salary expectations of P40 to P80k. For the Philippines that is a big jump from the P15k to P25k a few years ago
yea, but compared to USA the ratio of income to cost of house\condo is way off, buy a 140K usa house\condo you are getting $1200-$1400 rent right now vs buying that in ph you are renting it for what? $550usd maybe $600. the ROI just kinda sucks for something of such small space and rentability. I would gladly pay 65-70K for it but not 140K, even the ones across from the big mall in Cebu you can get for 50-85K and walk 300ft to the mall. I like iloilo and would love to buy a place there but they are trying to do half of bgc prices without the perks like BGC. @@BiancaBeyond
Yes it's definitely cheaper to build your own home, even back in Canada that was true. Condos value is the proximity to everything so you can walk or public transit and no worries about replacing your roof ect. Some people just love the simplicity of a condo
I would really like to see detached houses or bare land as a comparable Someone mentions Airbnb management fee…. Does one have to do Airbnb through the condo management? I’d hope that one could-as an owner- do own Airbnb managing without the condo management getting in the way Thanks Mark Euringer
@@mikescott4780 Hello Mike. This price is much lower compared to other condo. They range from 12-16M I talked one of the agent last 2 weeks ago . The price gone up since covid due to inflation and the materials are more expensive this time. But there is still have some option for a cheaper price condo in Green meadows Iloilo the name Soto Grande. I have 1 lot for sale 150sqm yo sell.1.6m and you can build a house on it.
I know foreigners can’t buy property there, but do condos work differently w/o a Filipina wife? I know in Thailand foreigners can only occupy no more than 49% of the units.
Seven towers just guarantees u won't get decent sleep from all those years of construction that will happen, and the current scenic views will be blocked.
Haven't seen this in person yet, everytime someone sets up a condo for rent for us to show there they cancel because it rented already. The casino we have only seen from the road, doesn't look very big at all. Certainly nothing like what we saw in Manila!
Fast in taking money but slow on turover time. My friend bought a unit in Palladium ang the craftsmanship is mediocre and the turnover took 3 years. These units are more expensive than oher big cities. Big or small, I don't like high rise buildings and crowded place.
Not impressed by the kitchen and bathroom. It's to basic. It would be better if the buyer could choose their own style. And the price level is to high if you compare to BCG and Makati.
Hot water is not centralized in most places in in the Philippines. Yes it's dangerous. If you want to take a shower, you learn to deal with it...Because it's virtually a standard feature in the country. The plug is for your hot water heater which you would mount right next to it. Some other things to watch out for...Balconies are often lower than what we are used to. I am 6'3 and the rails I saw went up to center of my hip. Also no call boxes in the elevators....They do have a bell you can hit if stuck, a real issue because of brownouts.
I'm guessing you mean real estate agents? If so yea it's a great gig but tough to find someone here who will be around after the sale/lease, but the successful ones are ready to offer to rent your place on Air BNB the moment you buy. You don't have to do that but it's a plus to have the options
Honestly this is what I would rather do. Just build a house after finding my match here in the Philippines :) Somewhere in-between the city and the province, the best of both worlds.
Not easy to lease it out or sell once u bought the condo My sister-in-law has a Makati condo unit, The Residence, a high end condo tower. Nobody leasing for almost 2 years. She decided to sell it, but no takers up to now. Headache!!! Your money is stuck in the unit u bought !!! N this is in the Makati commercial area.
Supply and demand, Iloilo is short of rentals big time but Makati has a big supply of empty units. In several years there will be much more supply here and that challenge will be here potentially but for now it's a great time
If you want to have a capital loss on sale buy one of these units . I have seen condos like these with cracks in the ceiling after only 3 years . Just rent and leave when you want . Rip off!
Overpriced 20m for a 2 bed? Plus ongoing fees. I can buy nice home in Australia for less than that or a huge home in the Phillipines. Nothing reasonable about that pricing sorry. Like other condo projects in the Phillipines they end up run down and tired looking after 10 years. Plastic shower curtain in the shower? Terrible given the pricepoint. You need to rename your thumbnail it's totally misleading.
I have no idea what the real estate commissions are in the Philippines but in Canada they are 5% typically paid by the seller. What commission do agents make where you live?
Hard to live in the Philippines sleeping at night in Thailand hahah.. just kidding yes a condo is another country could be cheaper than a condo in Iloilo
Closets here are a thing of the past and are now just for high end condos with big spaces. These developers just expect you to pput ur clothes under the bed because closets eat up the small space.
You just wasting your money buying a condo in the Philippines they are so small and the prices are outrageous when you can buy a house for half the price and three times the size stupid to buy one
We prefer to live in houses and have a yard but to say they are a rip off ignores the fact people who bought just a few years ago have already doubled their money. Some people just like to be in the heart of the city and don't want the maintenance/cleaning a house comes with. To each to their own. It's clear from your three comments condos are definitely not your thing
This is actually considered on the nicer side of developments in the Philippines. It wouldn't be in the West...Most developers build these need to realize Westerners have expectations, this has a lot to to be desired when compared to the West. I have to wonder if developers are bringing in Western design consultants to identify Western materials and methods. Especially nearing US costs. 100-200K USD is not a small amount in the Philippines. When a developer reaches out to Western vloggers, it seems as though we are the targeted audience.
@@aboveitall9600 exactly. Majority of locals can't afford to pay these prices for condo here. In fact, if given a choice between house/lot vs condo the majority would choose HL Hl being substantial cheaper and better bang for your peso. Therefore the target buyer is definitely the foreigner. Just rent
@@alexonorep5978 I live in mactan newtown the other megaworld township. How is having an honest opinion trolling? Ahh I get it your one of the viewers sitting on your mommas couch wishing u were here.. 😏 World of advice don't take advice from most vloggerw
