Condotels have become a popular option for investors and residents alike. In recent years, vertical projects have offered comfortable and convenient living. Not only are they complete with amenities, oftentimes, they are located in emerging business districts too. And while condotels offer benefits, you can further make the most of this real estate investment by taking advantage of pre-selling condotels in the Philippines.
Need to know more? Here’s a quick guide that shares some important information about pre selling condotels.
Since 2012, Metro Manila has seen a steady appetite for vertical projects. The pre-selling condominium market recorded some 44,900 units of annual launches and about 45,900 units of yearly take up from 2012 to 2019.
What are Pre-selling Condotels?
Pre-selling properties are no longer unusual. If you have been searching for real estate investments, you must have already encountered pre selling options, such as pre selling condos.
To define, pre selling condotels are properties sold by a developer even before they are actually completed. Usually, pre selling is offered during the earliest stage of the development. It could be during the groundbreaking and while construction is ongoing. They are sold in advance not only to favor the developer in terms of project financing but for investors to gain huge benefits too.
The Benefits of Investing in Preselling Condo in the Philippines
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1. Affordable Prices
Pre-selling condotels are offered at low introductory rates. Since the property is not yet existing during the time of sale, it is priced reasonably and could be around 30%-50% lower as compared to their RFO counterparts.
2. Flexible Payment Scheme
Aside from the discounted rate that comes with pre-selling condotels, investors are also offered flexible payment schemes. In-house financing may be availed aside from bank loans. A discounted downpayment price and other promos may also come with a pre-selling unit in order to attract more potential buyers.
3. Edge in Unit Selection
If you will avail a pre selling condotel, you have more options. You are able to take advantage of the freedom to choose the unit that you prefer the most. Buyers may even be given the privilege to choose the best unit at the time of the project launch. This gives the unit owner first-hand in selecting those with the best views or the locations that are most inviting for tenants.
4. Greater Profitability
Basically, the prospect of buying a pre-selling condotel at a lower price also comes with the guarantee of venturing into a profitable investment as the chances for capital growth is really high. Upon completion you have the option to sell the unit at its actual completed value which is a lot higher than your purchase price. You can also choose to rent it out to have a steady source of income.
5. Real Estate Value
Pre-selling condotels are an excellent investment option. This is especially true for those in good locations. Once a real estate project is completed, its value rises considerably. For those who’d want to sell their property, huge profit is already guaranteed.
6. Crisis-Proof
A study has been conducted on condominium prices during the late 1990s economic slowdown. Results revealed that the prices of investment properties, particularly condos, showed steady increase. During the pandemic, the luxury segment of condominiums remains to attract investors. It is also forecasted that after the pandemic, the market growth of condotels will still be good.
ALSO READ: Condo or House: Which Real Estate Property Will Best Suit You?
Pre-selling condotels offer real estate opportunities that will allow you to make more from your money. If you are looking into this investment, find a reputable real estate developer in the Philippines to ensure a worry-free transaction.
Don’t miss the opportunity to invest in pre-selling condotels. CitiGlobal has the best options for you.