Traditionally, real estate investment has been considered a wise investment, mainly when other options, such as cryptocurrency or stock trading, offer insufficient returns or are too volatile.
Investing in condominiums are rather cost-effective homes since they are more affordable, and they allow you to pay for the properties faster than you would an ordinary home. There are certain cities in the Philippines where condominium units are worth investing in — among these areas is Las Piñas.
One factor in determining to invest in a condominium is the place. Qualities like low risk, quality of life, low tax rates, accessibility, growth, etc., are factors that you must consider before you can decide on whether to invest in a condominium unit.
Fortunately, there are condominiums for sale in Las Piñas that offer a peaceful and comfortable lifestyle in proximity to the Central Business Districts (CBD) and provinces. Perfect for investors that want to have properties that are accessible and conveniently placed near key establishments, these Las Piñas Condominiums can even be a place to settle down after retirement.
Here are the pros and cons of investing in a condominium unit in Las Piñas for on-the-go professionals.
1. PRO: Las Piñas’ accessibility to the rest of the metro.
Las Piñas is located in the heart of Parañaque, Muntinlupa, and Cavite. A short trip or commute from Las Pinas will allow you to explore these nearby cities. Having a condominium unit in Las Piñas will give you access to almost anywhere at once:
- Living near a mall with an all-access grocery run to the store or a shopping spree
- Cafes and restaurants in Las Piñas that you can visit especially when you’re always on the go
- Dog parks and animal-friendly spaces where you and you and your fur babies can enjoy.
Indeed, being surrounded by convenient places is a plus for an on-the-go professional as this means that you are able to get to work for firms in these cities that are adjacent to or near to the Central Business Districts and places for leisure.
Worried about transportation? Las Pñas offers all modes of transportation namely the South Luzon Expressway (SLEX) or the Skyway. Likewise, Las Piñas, is also near CAVITEX, a 14km expressway that spans from Roxas Boulevard to Cavite. Hence, wherever, you may be, Las Pinas offers condominium units that are not only accessible but also convenient for on-the-go professionals.
2. PRO: Access to large shopping malls and other recreational areas.
If you are more of a recreational type, then this place is perfect for you. Las Piñas, being near Central Business Districts, is also near shopping malls in and around the perimeter thereof. From SM Southmall and Vista Mall up to its bordering areas in Alabang such as: Alabang Town Center, S&L, and Ayala malls.
Another great thing about having a condo near shopping malls is that you also get to enjoy a more secure and safe environment. Security systems and protocols are usually built into condominiums connected to a shopping mall, to ensure the safety of their tenants.
Las Piñas is also near schools, medical centers, commercial establishments, and chain restaurants such as BF Almanza’s Mang Raul’s BBQ. Being surrounded by major establishments, Las Piñas is peaceful; perfect for picnics and recreational activities, such as Zumba, etc.
3. PRO: Las Piñas offers premium condo living.
For on-the-go professionals with high ambitions, owning a condominium unit is not enough for the life that they envision. They will find a way to make sure that the condominium unit is leveraged in such a way that it will garner profits and a return on their investment. Owning a condo, surrounded by major establishments is one such way to make a return on one’s own investment. Purchasing or investing in a condominium unit in Las Piñas, an area that lies smack in the heart of Central Business Districts will surely allow these on-the-go professionals to capitalize on their equity investment.
While the goal for accumulation of property value is a long-term investment, this objective is not hindered, but bolstered, by the fact that Las Piñas is located near major business establishments. The property’s value will accumulate which will ultimately amass profits, through consistent cash flows, as well as a return of profits for these professionals.
4. PRO: Las Piñas’ growing real estate market.
On a more technical note, you also get to benefit from the growing real estate market in Las Piñas. While property estates in the South are considered less expensive compared to those which are located in the metro itself, still there is an ongoing price appreciation of properties as the market of Las Pinas continues to grow.
One main contributing factor to the economic growth of Las Piñas is the fact that it is surrounded by major establishments as well as developing cities such as Alabang, Parañaque, and Cavite. It is rather important to note that because of the increasing number of commercial business districts in the area, the population of professionals, including on-the-go professionals, is also increasing.
The growing economic environment and profit opportunities of Las Piñas are surely enticing factors in determining whether to invest in a condominium therein. However, it is worth mentioning that because of the strengthening climate of growth in Las Piñas, these real properties can be leveraged as their value increases thereby opening new opportunities for on-the-go professionals to improve the prospective return of their investments.
5. PRO: Extraordinary increase in the Rate of Condo Development.
The rate of condominium development in the Philippines has skyrocketed over the past ten years. This is mainly due to the developments of certain cities, the political climate, as well as public officials spearheading the development of the industry.
Las Piñas is one such city that has benefited from the boom in the condominium Industry. This is also aggravated by the fact that its adjacent areas are major business districts and its transport system allows people to go to and from the city with relative ease and convenience.
6. CON: Gradually growing monthly expenses.
A side effect of the increase in the inflation rate of the Philippine Peso, this factor must be taken into consideration in order to determine the effect thereof on the condominium’s maintenance fees and association dues.
While some developers have a good track record of keeping their condominiums well maintained, still, there are those who often neglect the maintenance and upkeep of the condominium, which will ultimately result in a higher monthly cost in the form of association dues.
This is especially true in cases where the condominium unit is located in the heart of the business districts. Maintenance will always be a factor that the on-the-go professional must take into account before investing in a condominium unit in Las Piñas City.
7. CON: The lack of freedom to modify the property, and safety issues.
This issue often arises depending on the agreement between the seller of the condominium unit and the homeowners. While it’s true that in some cases, the investors are given free rein to modify and alter the condominium unit, there are cases where modification is strictly prohibited as it will affect the surrounding or adjacent units. This problem is solved through proper planning by the agreement between the developer and the investor.
If you are quite hesitant about the lack or restricted modification of the property that you want to invest in, the team at DMCI Homes can help guide you through the process of leasing real estate development.
8. CON: The leased assets should be paid off as well as tax rates and hidden costs.
Investing in rogue developers or worrying about finding a new tenant is one of the most significant hazards of buying a condo unit. As a result, purchasing finished lease assets is critical for reducing development and leasing risks. Insofar as the tax rates and hidden costs are concerned, In the Philippines, condominium complexes are taxed at 1%; however, if the condominium is located in Metro Manila, the tax is increased to 2%.
Key takeaways
In sum, on-the-go professionals have to take into consideration certain factors before they may be able to invest in the condominium business.
If you are planning to invest in a condominium unit in Las Piñas, we can tell you more about the process right from the start all the way to sealing the deal. Our team at DMCI Homes Properties can guide you in choosing the right condo for you. Contact us today to get started with a long-term investment for your condo living in Metro Manila.