PRE-SELLING VERSUS SECONDARY MARKET CONDOS
as published in alveoland.com.ph
Those with immediate need for a condo home can also look to the secondary market for condos for sale in Manila by owners. There are a number of advantages in going with condos in the secondary market. First and foremost, a prospective buyer can get an actual assessment of the unit since it is already existing and constructed, compared to pre-selling condos whose specifications may change from what was initially advertised or marketed.
Buyers commonly find that condo properties in the secondary market are also more spacious and come in more generous sizes. Sellers may also provide more flexible terms compared to pre-selling condos that can be acquired only through standard payment schemes prevailing in the market. However, properties in the secondary market may also come at a much higher price, since their cost has already appreciated over time.
Ultimately, it depends on a condo buyer’s lifestyle and financial situation on whether to go with a pre-selling property or one from the secondary market. If one is looking for a condo for sale in Manila that is ready for occupancy, a unit from the second-hand market is the best choice as it provides immediate opportunity to move-in and enjoy the property. If one can still afford to wait until turnover, it is best to go with a pre-selling property.
Bank financing options are another important consideration for those buying a condominium property. Selecting a bank to partner with is just as vital as choosing a condominium developer—it takes a high level of trust and great customer service. Interest rates among banks in the Philippines are generally at the lower end of the spectrum, making it extremely attractive for people to buy and invest in a condominium unit these days.
PRIME CONDO LOCATIONS
Metro Manila being the capital city of the Philippines could be considered the nexus of prime condo locations with high property values. With its network of major thoroughfares, condo developments along these roads provide the most convenient and highly prized locations. These condos are located in various cities and municipalities within the Metro.
Makati City, considered the financial capital of the country, is arguably among the top selections for condo developments that provide a premier lifestyle. A list of condos in Makati will yield a lot of choices when it comes to unit sizes, proximity to malls and commercial establishments, proximity to office buildings, and many other factors.
Other major locations for prime condos in Metro Manila include the new business district of Bonifacio Global City (BGC) in Taguig, where a lot of pre-selling condos in the Philippines are located. In barely a decade since it was formally redeveloped and launched, BGC has grown to be one of the most exciting and dynamic property markets with its variety of condo communities that cater to a wide demographic of homebuyers.
