6 Good Reasons Why You Should Start Investing In Condo
If you are a novice investor, you will undoubtedly be searching for the Philippines’ greatest investment. Selecting between stocks, mutual funds, insurance, and real estate can be very challenging. You also have a wide selection of properties to choose from if you decide to invest in real estate.
Condominiums are a common type of real estate in the Philippines. The majority of condos are renowned for their wow aspects, including their resort-style amenities and fantastic community features like convenient access to prominent establishments. But a novice investor can look past these aspects and wonder, “But is purchasing a condo a good investment in the Philippines?
If you want to succeed with your real estate investment, location is just as crucial as the sort of property you choose. To make living here convenient and profitable, you should ideally invest in a place that is accessible, developed, and if feasible, a tourist destination. Fortunately, Cebu is among the Philippines’ real estate investment hotspots. Why?
Cebu is an excellent place to hunt for residential homes for personal use or as a source of passive income since large-scale infrastructure projects are driving Cebu’s real estate and more people are searching for a worthwhile investment. You can never go wrong with Cebu properties, whether you’re looking for a new permanent residence, a getaway home, or an investment property that is certain to provide you with an exceptional return on investment (ROI).
The Royal Oceancrest Mactan project by PrimaryHomes is now one of the new infrastructural initiatives in Cebu. This high-rise condominium with Neo-Asian minimalism design is situated on Sudtunggan Road, Barangay Basak, Lapu-Lapu City, Cebu.
This essay will help all first-time investors understand why it’s better to invest in a condo in Cebu. Go through the 10 arguments for why purchasing a condo in Primary Homes is a wise financial decision for the nation.
1. An actual and reliable investment is a condo.
You’ve probably heard the adage “Seeing is believing.” This adage can be applied in a variety of scenarios, such as choosing a condo in the Philippines for your real estate investment.
As opposed to watching stocks fluctuate on your phone, you can really touch and paint the walls and furnishings in your condo. More importantly, the apartment can be used and inhabited by you and your loved ones. The more you will profit from your condo, especially if you decide to invest in a condo in Cebu. The Mactan-Cebu International Airport, the second busiest airport in the nation, is located in Cebu City, a metropolis of international standing.
You can go to the airport in just a few blocks or 15 minutes if you opt to live at Royal Oceancrest Mactan. So, it is perfect for frequent flyers and businesspeople that want or need to fly regularly. It serves as a springboard for encountering new things and diverse people. You can take a ferry or a short drive to the adjacent provinces to discover them.
New condos in Playa del Carmen is unquestionably one of the wisest purchases you can make during the epidemic because they are reliable and crisis-proof. These are long-term investments that have the potential to appreciate in value over time and won’t fluctuate as much as other investment options.
2. In an emergency, a condo is a good choice.
For instance, you must travel to Cebu for permanent reasons. Where do you plan to stay? If they have room, you must stay with a relative. What if they don’t, though?
The solution is a safe and well-kept condo at Royal Oceancrest Mactan. You are no longer required to deal with the anxiety of making hotel reservations. Simply remain in your apartment and take advantage of the facilities offered by the building.
Also, having an investment like this might be useful, particularly if you ever need extra money. In the worst-case scenario, you can always use your property as loan collateral. Your lenders will be able to determine whether you are qualified for loans with the help of a thorough review of your credit history, income, and assets. Your chances of getting your loan authorized rise if you have a solid apartment in your investment portfolio.
3. Condominiums can be a reliable source of side income.
Our ability to work is no longer the same as it was when we were getting close to retirement age. We require the best investment in the Philippines that will allow us to generate passive income because our movements will be impeded or restricted. Condos can be your greatest option to do this as they are the ideal setting for relaxation or persons looking for rental properties.
Real estate is an excellent investment choice for retired overseas Filipino workers, which comes as no surprise (OFWs). OFWs can use their savings to buy well-kept homes while they’re still in their prime, then rent out their condos utilizing online rental services to avoid having to continuously commute to and from their homes.
Due to its strategic location, Cebu City sees an increase in tourists arriving and staying there, making it a prime place to develop enterprises that serve both locals and tourists’ needs and wants. For short- or long-term rentals, foreign buyers are also drawn to Cebu real estate because it offers the ideal economic opportunity, even for novice investors. The city of Cebu’s tourist sector is thriving as more and more people live there and travel there. There is no question that there is a big demand for the retail sector to produce and sell more goods and services to locals and visitors along with a growing market.
If you didn’t already know, Cebu is home to nearly 80% of all local and international shipping businesses, shipbuilders, and operators. The largest shipping center on the entire island of Visayas is the port of Cebu. A freeport like Cebu is unique in that regular tax and customs regulations do not apply there. Due to their ease in obtaining imported goods and materials that they may utilize to create their own goods and export them again to generate cash, manufacturers and businesses in Cebu benefit greatly from this.
This proof demonstrates the benefits of having a condo in Cebu, particularly a unit at Royal Oceancrest Mactan, especially if you wish to generate a sizable return on your investment.
4. For novice investors, buying a condo carries fewer financial risks.
Even novice investors are aware that there is risk involved in all investments. Yet there are fewer risks with a condo.
For instance, buying a condo does not always require spending a fortune. It’s actually one of the biggest myths in real estate investing. Most condos, like Royal Oceancrest Cebu, provide top-notch amenities while also giving potential buyers manageable payment alternatives.
If you wish to choose a condo as your first real estate investment in the Philippines, keep in mind that you do not need to be an experienced investor. You can trust qualified real estate brokers and developers who manage great condo homes, and you’ll always have them to turn to for advice.
You may always ask recognized and reputable real estate developers questions if you have issues or questions about your home.
Cebu real estate is highly appraised, offers great returns on investment, and is a prime location for both business and tourists.
The cost of real estate in this area is rising. It’s likely that the price of the house you desired has climbed dramatically in a short period of time if you wait too long to purchase your ideal Cebu real estate property.
Isla dela Victoria, SM Ayala Consortium, SM Seaside City Cebu, Il Corso Lifemalls, Cebu Ocean Park, and Anjo World Theme Park are a few of the new ventures and developments in Cebu City that make living here genuinely a world-class experience.
Before these projects are finalized, making an investment in Cebu real estate properties now will benefit both you and your financial situation greatly. The increased benefits these infrastructures provide to individuals would drive real estate prices in Cebu, whether commercial or residential, to soar once they are finished.
5. A condo is a fantastic option for a permanent residence.
If you’re still unsure that purchasing a condo is the best investment you can make in the Philippines, keep in mind that a condo also makes a fantastic choice for a house!
Because the developers will handle the upkeep and repairs for you, condos require less maintenance and repair work. You may also get access to fascinating features like big swimming pools, tranquil green areas, entertaining playgrounds, and more, depending on the property.
Condominiums are positioned strategically and in flourishing neighborhoods. One example of such a property is Royal Oceancrest Cebu, which offers condo residents a safe and secure environment while being close to important establishments.
Condos are unquestionably fantastic housing choices to think about whether you’re single, married with children, or just just married couples who are beginning to develop their own family.
6. Condominiums are unquestionably legacy investments.
You can always pass down your condo as a legacy investment, regardless of whether you have plans to start a family in the future or develop into the enigmatic, wealthy aunt or uncle who spoils her family a lot.
You may be sure that your loved ones are living in a wonderful property for many years to come because real estate properties are frequently passed down from one generation to the next.
Your children and other family members will always have a spot to visit for fun or a choice for their permanent residence. Also, they can always use it as a passive income source (as you did!) in difficult times.
