Metro Manila’s university belt ‘the most sought after’ location for rental homes

By: Evelyn L. Aguinaldo / Author / Investor / Cyber Real Estate Property Seller

Transactions in the Philippines residential leasing market picked up significantly during pre-enrollments of up-coming students in May-June each year as several foreigners, Filipino foreign dependents as to those well-to-do provincial-based students find housing for their continued studies in the prime cities particularly within the university belt areas in Metro Manila, as I noticed on my leasing business transactions nowadays.

“The location most in demand is in the university belt area particularly within the vicinity of the University of Santo Tomas, University of the East, Far-Eastern University, San Sebastian College, San Beda College and Centro Escolar University in Sampaloc, Manila.

In Taft Avenue, De La Salle University, Philippine Women’s University, Philippine Christian University, Saint Benilde College, Saint Scholastica’s College, Saint Paul College & the University the Philippines comprises the university belt area.

Whereas in Katipunan Avenue in Quezon City is where Ateneo De Manila University, Miriam College and the University of the Philippines continues to be the University belt’s prime development for many students.

CAMELLA Condo Homes, Katipunan Avenue Quezon City

The average rental rate for a 16.5 sq. mtrs studio pad condo unit at the UniversityTower Manila during the first quarter of 2012 was Php 9, 000.00 to Php 12, 500.00 a month while a 1-bedroom condo unit of 22 sq. mtrs was Php 18, 000.00 a month. The sought after studio pad condo unit of 24 sq. mtrs – that can be expanded as 1-bedroom at the Pacific Grand Tower and is strategically located near to UST’s Hospital building was priced at Php 18, 500.00 monthly.

“The cheapest condo rental is found at the Espana Tower, near Mabuhay rotunda where a fully-furnished 22 sq. mtrs studio unit is priced at Php 12, 500.00 to Php 15, 000 per month. España Tower is reviewers’ paradise because of rental affordability as well as being near to most review centers in Manila. 

University Belt "best" students' condo for investment & residences  

Rental rates depend upon the furnishing offered by the lessor, for high-end condo units in Makati financial district as in the Fort Global city area commands a much higher price.

“If demand continues at this level, and, assuming no new residential buildings in phases are delivered during the school opening on June 2012, rental rates for the best-configured condo & apartments may witness a slight increase. However, several condominiums, apartments, and dormitories across all areas of Metro Manila and all other progressive cities in the Philippines will become more affordable because of continuous constructions activities of prime-condo developers in these areas.

Several condo units at the University belt are now on its finishing stage namely: the University Tower II in Galicia Street, Pacific Grand Tower II in Dapitan Street and Crown Tower in P. Campa Street – all mentioned condo towers are located in Sampaloc, Manila and One Archers place in Taft Avenue, Manila is now ready for occupancy as well.

Fully Furnished Condo @ AURORA HEIGHTS Residences, QC

Up-coming and under-construction university belt condo in or around the university belt areas are as follows: University Tower P. Noval Manila, Camella Condo Homes Taft Avenue Manila, Camella Condo Homes Katipunan Avenue Quezon City, SM Blue Residences Katipunan Avenue Quezon City and Aurora Heights Loyola Quezon City are amongst the few condo buildings that will cater to the housing needs of students.

Apart from rental homes, the residential condo sales market saw improved levels of inquiries during the first quarter of this year as investors, eyeing the Philippines promising medium-to-long term capital appreciation prospects, sought alternative investment opportunities to cash reserves.

SM Blue Residences, Katipunan Avenue Quezon City

The majority of inquiries were from Overseas Foreign Workers (OFWs) all over the world, Filipinos with dual residency status outside the Philippines - particularly from the US / Canada sector and local investors seeking to purchase a property from reputed developers in the Philippines.

Inquiries continued to be for residential purposes ranging from a studio pad and 1-bedroom condo unit both in rentals and sales. This segment of the market is relatively undersupplied compared to prime, shell and core offices that are available today.

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Aurora Heights Residences - Metro Manila just become smaller

Just like other foreign transportation mode, travelling in Metro Manila is now easier with the effective network of railway system. One can reach Makati financial district in just 25 minutes from Marcos Highway, Cainta via LRT/MRT line 2 between Santolan/Baclaran via Cubao station and the convenience of Balintawak/EDSA/Taft via Ayala LRT/MRT loop or one can enjoy the ride from Monumento/ Baclaran LRT line 1.

Along the way, condominium buildings are dotted  the like of Aurora Height Residences in Loyola Heights Quezon City that is conveniently located near De La Salle University, PSBA, NCBA is also near-by. First Homes, Inc., a fully-owned subsidiary of Eton Properties Philippines, Inc., introduces fully furnished, move-in ready, compact condo units for individuals and couples just starting in life. The condo has First Rate Amenities. Located just a short walk from LRT-2 Katipunan station, going to school, work and shopping malls have never been easier. Aside from that, the very low Step-up PROMO on the amortization has never been offered by any developer before a one can have a 2-bedroom unit at the price of Php 1.7M in totality. Why such a a very low unit price? Eton properties has hectares-of-hectares of prime-properties in the Metro, a land banking trough PNB and Allied Bank that is the very reason why Eton can build a structure in a very fast-phase ang sold the units to their costumer reasonably price....as if, the price of the land is negligible to buyers.

At Aurora Heights Residences - everything comes together.

It is worth mentioning that I myself did acquire a 2-bedroom unit at North Belton Communities, Geneva Building unit 2H2 with parking allocations and also the first H&L package (Block 6, lot 1) at West Wing Residences Eton City, Laguna that has been sold was bought by my family...and now, a 2-bedroom Unit at First Homes Makati. All these properties are of Eton projects.

House versus Condominium - Consideration in Investing

 By Evelyn L. Aguinaldo / Author / Investor / Cyber Real Estate Property Seller

The affordability of condominium units came in the wake of the most recent economic crisis, which is one of the reasons why many homeowners include this type of housing among their home-buying choices. 

 Even top-knots celebrities are opting condominium unit as their home nowadays. Kris Aquino’s, kris TV episode about her new condominium home is an eye opener in condo living for new generations of Filipino families. Though her condo unit is exceptionally big and employed top-notched interior decorators to reflex her new image, one can simulate the way she organized things in the most fashionable way. 

Most condo buildings are located in the heart of the city, the like of First Homes Makati, and are often in close proximity to office buildings and other establishments offering high-paying jobs. As city dwellers, less time and gas money is spent in going to work; if the use of a car is necessary, there are fewer repairs and maintenance expenses incurred. 

Condominium developments include classy facilities like state of the art fitness and gym centers, spas, beauty salons and barber shops, movie houses to some, fine dining or eat-in kitchens, and small boutique shops. The availability of these conveniences makes condominium living a comfortable option. 

Condo living dispenses with the hassles of looking for somebody to fix something in your house. All you need to do is inform the concierge or building manager who takes care of housekeeping or maintenance problems, and he’ll get in touch with the building’s own pool of handymen. 

Life in a condo is like somebody is always looking after your well being, by making sure you are satisfied with your living conditions. Of course, condo staff knows your money’s worth and make you feel like royalty. This alone suffices the monthly condominium association fees collected by the building administrator. 

“To keep this in perspective, one developer claimed that condo acquisition and rental is the latest trend among OFWs investors”, either as their home while vacationing in the Philippines or rent-it-out in order to have a source of passive income even while still working abroad. If you are new in this business venture, you have nothing to worry-about ‘coz most condo building has their own property management team to look-after your investments.

But before considering buying real property, it is recommended to weigh-in all the pros & cons yourself and to seek advice from a Real Estate Property consultant / unit owner on the target investment to help you in your decision making. 

Philippines Real Estate Property Tip

 By Evelyn L. Aguinaldo / Author / Investor / Cyber Real Estate Property Seller

When looking for a real estate property, the like of H&L or CONDO unit to live-in or as a passive income generator while still abroad, one has to check if the Project offered has a Certificate of Registration and License to Sell. You or your representative should visit the subdivision / condominium, where the house and lot or condo unit to be purchased is located to know its natural topography, viz: susceptibility to landslide, flooding, erosion, etc. Ask about anything that is relevant to the project, materials used, construction time-frame, etc

Select only those developers with a proven tract record for reliability, providing excellent workmanship and to ensure that the building code of the Philippines is met. Building contractors are suitably pre-qualified with experience personnel employed to work on the project and that appropriate construction procedures and material used has a test intervals for adoptability in order to safeguard the interest of buyers. It is therefore important that no assumptions is made, it should be verified first.

One of the best rules in the real estate game is to choose the right place for your investment. If you are into buying residential properties, Metro Manila and near-by progressive Cities & Provinces is probably the best place in the Philippines today for profitability.