Quote:
Originally Posted by Bluegrassplayer
I've heard that buying real estate in Phils is a horrible investment. Can't remember much but basically it's impossible to make a profit off of selling your place due to taxes and the demand for already purchased places is incredibly low since new ones are constantly coming up.
Have done 0 actual research, just reiterating what someone else told me.
You would have made money buying real estate anytime in the last 15 years.
Your annual rent yield on an apartment in Metro Manila might be anywhere from 7-12%, and after rpt and maintenance you would be in the 5-9% territory before capital appreciation.
I do agree that buying in certain areas limits your ability to sell (due to increasing supply) such as lifestyle choices as Rockwell, BGC, and parts of Makati, as you are paying for the lifestyle and definitely not the location or intrinsic value of the property.
The residential market is somewhat soft this year and going into 2018, but commercial property is still really strong, especially on the higher end.
If you are looking into purchase of a unit, you're better off looking at larger cut units (2 br+) and areas that can still appreciate in value (not overinflated due to lifestyle and developer forced increases).