Are Condos a Good Idea?

samahantayo wrote:

So my answer is - not a good idea to live there.

Please stay in the motor city.  I Would take Philippines provincial living over Detroit.

Tragic but true!!! All the more something needs to happen.

bump

mugtech wrote:

samahantayo wrote:

So my answer is - not a good idea to live there.

Please stay in the motor city.  I Would take Philippines provincial living over Detroit.

Don't worry.... I live in a nice area. I have no desire to live there.

Province or not same comments apply. Been there - done that.... Sanitation, loiterers, over-populated..... glad you found you niche.....

Overall, I think the condo market here is a disaster!
Small postage-stamp units that overall are poorly built, overly-expensive and hard to re-sell, certainly at the price they greedily are trying to get. Seems that new condo units are bought in small batches by monied chinese and muslims, who then turn them into rental income (but don't count on them to respond respectfully to requests for needed repairs and maintenance).
For some illogical 'reason,' there's a glut of units all over the country. Gross overbuilding by the big money in the country - SM, Robinson's, Ayala, Camella, et al - is a recurring pattern. In any given sub-division in any sizable centre, there are far too many homes and condos built, and therefore most of them are filled with empty houses and units. Saw one 6-year old bungaloo that had weeds spreading throughout the salas and the foundation at the back in questionable shape. Saw a new home with a corner of the foundation already undermined by a small sinkhole: when mentioned to the realtor, he tried to pass it off as nothing. Viewed some condos in a new development where there was no counterspace or room to cook easily in a passageway that they tried to pass off as a kitchen. What was only 1.8 million pisos 10 years ago now in condos is 3.4 million and more for less in every way. Have had agents drop the asking price 800k pisos in an instant once moderate pressure was applied on an inflated condo unit, easily telling us, again, that they were trying to steal us blind. They may conveniently try to slide by that there may be no parking for your vehicle, and if so, it could cost you an extra 1500 pesos a month for it; otherwise, feel free to park unprotected on the street some distance from the building. Likewise, often no bars on lower level units invites burglaries, but to put them in is up to you.
Lying, cheating and stealing from whomever on any given topic is endemic in the country. And the realty market is rife with such unscrupulous people. Rare is the honest, competent and generous-hearted broker!
To us after looking for a year or two in different parts of the country, best to continue renting (if you can find a decent place owned by a filipino) or buy a fully-titled uncontested piece of land that's somewhat protected by the barangay (make them your friends via the local gang whose job it is to protect their own?), and build your own home. That too has certain hassles, as in getting a good building contractor who may not be well-versed in electrical or plumbing systems; build your own hollow blocks, and keep an eye out for your building materials 24/7.
As easy as things look in the Phils, it's what you don't see that will quite likely get you. Oh yes, have plenty of money for the hidden costs like overcharging once they see your foreign face and for mishaps that may occur. On a small plumbing part a local hardware store chinoy owner doubled the price when they saw my face. Planed for the unexpected to happen.
Enjoy.

Good write up, daenr!!! That's what I have been saying. Yes, condo units average 26 sq meter or 234 sq ft. 234 sq ft!!!! That's like a tool shed. I can't believe how ppl fall for this BS!! The main contributing problem of the Philippines is OVER-POPULATION!!!  It's like an ant colony where everyone is fighting for food and space.

In 2015-2016, yes. At the moment, not good to buy a condo in metro manila anymore (I don't know if its the same at other parts in the PH). Condo price has been increasing significantly due to the influx of Chinese for those online gambling companies. Both rental & buying price. Meanwhile, the workmanship remains the same, for example, price for a 22 sqm studio unit is around 4M5 PHP right now but u get the quality of 1M9 PHP unit. Leaks are rampant here due to the poor workmanship. Regardless of developers. Seems like developers nowadays only wants to build with minimum cost and get the money for their pocket.

Condo is popping up like mushroom without a master planning. Let's say for example at Reliance street area in Mandaluyong city. Currently there are 4 condos present in this areas and 3 more are popping up. If you look at the streets surrounding, there is no way they could handle the traffic once all condos are in full operation.

I bought one at this area because Makati is becoming too expensive and a chinatown which I dont really enjoy. My workplace is 3.5km away and it took me 40-60 mins to get there in the morning, another 60 mins to go back in the afternoon. Traffic is bad, really bad because developers realize its profitable to sell a lots of condo.

If you really want a condo unit, its better to look for foreclosed properties or resell unit from owners who really needs money. You can always find a cheaper price than buying direct from developers.

kindawn wrote:

. My workplace is 3.5km away and it took me 40-60 mins to get there in the morning, another 60 mins to go back in the afternoon. Traffic is bad, really bad because developers realize its profitable to sell a lots of condo.

So why not walk the two miles?  A 35 or 40 minute walk is a healthy way to start the day, also quite cheap, does not pollute the air.

mugtech wrote:

kindawn wrote:

. My workplace is 3.5km away and it took me 40-60 mins to get there in the morning, another 60 mins to go back in the afternoon. Traffic is bad, really bad because developers realize its profitable to sell a lots of condo.

So why not walk the two miles?  A 35 or 40 minute walk is a healthy way to start the day, also quite cheap, does not pollute the air.

....and expose yourself even more to breathing polluted air? Did you ever notice that after being out a day and you blow your nose black stuff comes out? That's from diesel fumes.

You're right about workmanship and leaks. First hand experience at Mezza Residences in Sta Mesa. All floors leak whenever it rains. Building management knew about but denied knowing. People there are incompetent when it comes to building maintenance and management. Totally incompetent!!! And if you want to breathe cigarette smoke from adjacent units, good luck.

samahantayo wrote:

mugtech wrote:

kindawn wrote:

. My workplace is 3.5km away and it took me 40-60 mins to get there in the morning, another 60 mins to go back in the afternoon. Traffic is bad, really bad because developers realize its profitable to sell a lots of condo.

So why not walk the two miles?  A 35 or 40 minute walk is a healthy way to start the day, also quite cheap, does not pollute the air.

....and expose yourself even more to breathing polluted air? Did you ever notice that after being out a day and you blow your nose black stuff comes out? That's from diesel fumes.

Just another reason to live in the province.  I take a 30 or 40 minute walk every morning and have no trouble breathing all day, never blow black stuff out of my nose.

In the humid RP doesn't that walk make you a bit wet and smelly all day at your office?  Coming home, at least, you can take a shower or a dip in the ocean maybe but, all day at work after a humid walk including rainy days, just doesn't sound like much fun.

Mugtech,


Are you still looking for a place?

TeeJay4103 wrote:

Mugtech,


Are you still looking for a place?

Checked out Tagaytay and the surrounding area but did not really find anything we liked, would like to avoid the condos.  We are content with the house we have in Santa, Ilocos Sur, thought we might want to find a cooler place for the summer months.  Ruled out Baguio, too crowded and too expensive.

Tsmslf wrote:

In the humid RP doesn't that walk make you a bit wet and smelly all day at your office?  Coming home, at least, you can take a shower or a dip in the ocean maybe but, all day at work after a humid walk including rainy days, just doesn't sound like much fun.

Just another advantage of being retired, 6AM walk, 6:45 AM shower.