Filipino Americans Buy Condos in Metro Manila

Mint Residences - Chino Roces, Makati City

Filipino Americans Buy Condos in Metro Manila

I have been here in the Philippines for almost 7 years, after working for most of my life in the USA. The Philippines has been my country of choice to retire since I went and migrated in the USA. 

I have observed also that many Fil-Ams want to retire here in the Philippines and for many reasons.

They miss our Filipino culture, like eating fresh seafood and vegetables that we could just buy from the market or better yet, just pick from our backyard. And not only that, our relatives are fun to be with, like going to the beach when someone has a birthday to celebrate or any occasion. Life here in the Philippines is so much fun that many of us Filipinos always long to come and take our vacation here, rather than spend it in some other countries.

But most of us Fil-Ams don’t have any more places or houses to stay with. Sometimes, we don’t feel comfortable living with our relatives that it has been a while that we have never seen. And some other reasons also that hampers us from taking our vacation here in the Philippines despite that we really want to take our vacation.

I have found out that a condo is a solution to that, very simple solution. There are many affordable condominiums in Metro Manila which are full of amenities like a resort.

Buying a condominium in the Philippines has never been easier, not like in the past, it was hard because there are these balloon payments that you have to pay in a big sum of money, or a big deposit.

I have been wanting to buy a condo even for a long time, but I did not have the finances, but now, it is very easy to buy a condominium.

Now, I was able to buy a condo, and plan to buy some more because it is a good investment. I would like to elaborate more on how payments are easier now than before, then I will go with the investment capacity of a condominium.

Down Payment now for condominiums can be staggered in as long as 5 years which result in very low monthly payments. Then after paying for the 5 years installment, there are now easy financing schemes offered by the Bank associated with the developer, like for SMDC condos, BDO would offer to finance the remaining unpaid amount.

So you see, it is now easy to buy a condo.

Now in the investment part of buying a condo, we don’t realize or have already heard that while paying for the monthly payments on the down payments, the value of the condo we are paying is appreciating. In most cases, the total amount of our monthly payments would be a lot less than what has been appreciated by the condo. In these instances, many have come up with the idea of flipping their condos. Flipping means, before the turnover the value of the condo has appreciated so much that they will sell it and get their profit. Sometimes they call this scheme in Tagalog as ‘Pasalo’. 

Here are some of the condominiums that I think would really appreciate more than double of what you would be paying in your monthly installments, which are candidates for flipping.

  1. Sands Residences
  2. Mint Residences
  3. Coast Residences
  4. Glam Residences
  5. Fame Residences

About retiring in the Philippines, I would like to delve more into  my experiences as a retiree in the Philippines.  Actually, I have not retired yet as I am not receiving my pension yet. I have been here in the Philippines since 2015 and would go back and forth in the USA. On my stay in the Philippines, I and my family would always go visit some places like our last long trip was to Mayon Volcano and I drove 15 hrs to get there. On our way back home, as we passed by Manila, we had thoughts that if we only had a condo in Manila, then we could have stopped over in our condo, take a few nights stay, enjoy the restaurants and views and some shopping. That thinking has driven us to buy a condo.

Since then, I have been always researching the ins and outs of condominiums on what they can offer of our lives, as well as investment strategies.

I will be posting more about what is condo living in the Philippines, and please visit my website often. I will be creating ‘Cherry Picking’ blogs for a lot of condos, so stay tune. 

Thank you for reading.

Please do not hesitate to contact me if you have any questions or want to know more about any of the SMDC condominiums we have.

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