For people looking for a major property investment in Metro Manila, there will always be apprehensions: locations that offer the most potential come with a hefty price tag. So instead of going big, can one invest by going smart?
The property is now being pre-sold at an average of P85,000 per sqm, compared to similar projects that start at P130,000 per sqm and up. To illustrate, it is the only residential development within walking distance of BGC that offers one-bedroom units at P2.1 million to P2.5 million.
The attractive cost should sound compelling to the practical investor, as he/she realizes a bigger income potential as the property appreciates.
Whether you rent out the place, or resell upon turnover, you can potentially receive bigger gains compared to nearby projects where you need to shell out way more.
By 2022, investors can expect greater value for their property – and that is playing smart.
Compared to similar units within BGC and McKinley Hill that fetch up to P30,000 to P70,000/ month, Ridgewood units present an attractive option for young professionals who prefer to live near where the action is.
Apart from the lower rental rates, there is virtually no trade-off in terms of amenities or distance from the workplace, so expect the units to attract more tenants than its more expensive competitors within the area.
With a return on investment of about eight percent, a Ridgewood investment outperforms leaving your money in the bank, considering annual deposit rates of 0.25 percent and time deposit rates of 1.75 percent.
Alfonso Keh, Jr., general manager of C-5 Mansions Development Corp., said: We project strong demand for rental units since BGC is doubling its office space portfolio in the next few years.”
Thus, employment will also increase dramatically in BGC and this will create an acute problem on availability of quality residential condominium options, which Ridgewood Towers Premier will partly address once it is turned over, Keh pointed out.