How to Buy a Condo Unit in the Philippines: A Foreign Investment Guide
We put together this guide to serve as a reference for our foreign clients who would like to invest in The Philippines at this time.
Frequently Asked Questions by our Foreign Clients
Yes, you need a broker who is an accredited seller of RHK Land, or a Property Specialist of RHK Land, to assist you in buying property.
Foreigners can own condominium units in the Philippines so long as the total number of foreign owned units in a particular condominium does not exceed 40%. For example, for a condominium with only 100 units, only 40 units should be owned by foreigners and the remaining 60 units should be owned by Filipino citizens.
Foreigners, however, are restricted from buying land in the Philippines.
Based on current market trends and historical data, high-end condominium units can be rented out at approximately PHP 1,000 to PHP 1,500 per square meter per month.
As for property appreciation, historical data for high-end units projects an annual appreciation of approximately 5% to 12%.
The Velaris Residences is projected to have condo dues of around PHP 120 to PHP 150 per square meter per month. The payments will only be collected after the units are turned over. Regardless of when the turnover occurs, the scheduled dues will start on the month of the turnover.
There is a golden opportunity to invest in real estate now.
We believe that in every crisis, there is an opportunity. This time-honored adage rings particularly true for investors during the COVID-19 pandemic, where investors may be able to unearth real gems amidst the uncertainty. Real estate, for instance, continues to shine bright, offering the promise of capital appreciation to those who can see past the difficulties of the moment.
For those who find the wild fluctuations of financial markets disconcerting, real estate offers a more stable alternative. In fact, there is strong evidence that real estate trumps other investment instruments at this time.
Beyond this, the current situation has created an environment that make it even more compelling to invest in real estate at this time. Here are some reasons why the COVID-19 pandemic may be a golden opportunity to invest in real estate:
- Guaranteed value appreciation.
- Better payment plans.
- More unit choices.
- Real estate is a resilient industry.
- Improved property management.
For those who can overcome their uncertainty at this time, The Velaris Residences makes a compelling investment choice. A landmark project of two strong developers, international property development leader Hongkong Land and Philippines real estate giant Robinsons Land, it promises investors the prospect of good investment yields and capital appreciation. The Velaris Residences is located in Bridgetowne township along C5 road, offering easy access to shops, restaurants, and essential establishments. More importantly, it is located in a dynamic growth corridor where property values are bound to appreciate once the crisis is over and government projects come on stream.
Indeed, there is a silver lining in every crisis, and for real estate buyers, The Velaris Residences offers a once-in-a-lifetime investment opportunity to own a valuable piece of property that offers steady capital appreciation over time.
The current pandemic has illustrated what differentiates valuable properties from inferior ones, by bringing to light the importance of their projects’ key elements. With restrictions on people movement and interaction with others, real estate investors now put more weight on location, property management, developer expertise, and comforts.
Few property developers offer all these. Foremost of these is The Velaris Residences — the flagship development of RHK Land Corporation. With its premium address, it boasts of all the elements that make it a particularly compelling investment choice, especially at this time. Consider the following:
Solid developer credentials
The Velaris Residences brings the strength and credibility of international property development leader Hongkong Land and Philippines real estate giant Robinsons Land. The Velaris Residences offers investors not just the prospect of capital appreciation, but also peace of mind stemming from the solid track record of both Hongkong Land and Robinsons Land, which expressed their long-term commitment to the project.
An outstanding location
Never have location and accessibility been more important than now, and The Velaris Residences has that enviable combination of a great location and exclusivity. Situated in a quiet but prime spot in Bridgetowne, a 31-hectare master-planned destination estate that spans Pasig City and Quezon City, The Velaris Residences enjoys direct access to C5 Road, Ortigas Avenue, and Amang Rodriguez Avenue. Bridgetowne also offers easy access to the established business districts of Ortigas Center and Bonifacio Global City, as well as multiple establishments that offer all the essentials that matter these days. Sitting right at the country’s growth corridors, The Velaris Residences definitely stands to further appreciate in value as the government’s infrastructure projects also come onstream.
Each unit at The Velaris Residences was designed using an intentional design philosophy, wherein the experience of the resident is considered at each stage of the design process. This is particularly important now that people are expected to spend more time at home and want spaces where they can do everyday tasks with ease and comfort. Artfully considered in the building’s layout is people’s natural movement within the spaces. Every detail is meticulously designed with the residents’ experience at the heart of every architectural and interior design choice. Premium finishing accents and fixtures follow the stylings of the affluent in Hong Kong, with metallic tones of bronze and rose gold.
Smart Home Features
Digital solutions have become essentials as the world seeks ways to minimize contact in the new normal, and The Velaris Residences beautifully showcases the marriage of technology and style. The bigger units are equipped with smart home features such as biometric fingerprint scanning, PIN code, RFID card access, and smart digital locks for state-of-the-art security. There are also air-conditioning and lights that can be controlled remotely from a phone; smart mirrors in three-bedroom and penthouse units – all optimizing technology for residents’ comfort, convenience, and security.
Private lift lobbies for two-bedroom, three-bedroom, and penthouse unit owners that take one straight to their doors, are the ultimate in luxury and security at this time. The Velaris Residences also has a host of top-notch amenities that allow residents to enhance their well-being. All have been designed to complement the residents’ lifestyles while adding a pleasant touch to winding down and relaxing.
World-class property management
The COVID-19 situation has spurred demand for excellent property management, which The Velaris Residences’ property management team—combining the strengths and expertise of Hongkong Land and Robinsons Land—will bring to the fore. A world leader in property investment, management, and development, Hongkong Land has in its roster several notable projects across Asia which include The Marina Bay Financial Centre in Singapore, Central Portfolio in Hong Kong, and The Esse Sukhumvit 36 in Bangkok.