Real Estate Investing: Things to Remember When Buying A Condo for Sale In BGC
Bonifacio Global City or BGC is one of the major financial hubs in the Philippines and is often described as the ‘little Singapore in Manila’ because of its similarity to the city state. If you are looking for a condo for sale in BGC to use personally or as an investment, then you need to consider these factors to make a good purchase:
1. If you are a foreigner, yes—you are allowed to own a condo unit.
Republic Act No. 4726 or the Condominium Act states that a foreigner is not allowed to own a piece of land. It does, however, give non-Filipinos permission to own condo units. This is why many foreign investors buy condos in BGC as an investment.
2. A slight difference in location can mean millions in savings.
The most expensive condos for sale in BGC are those that are located right in the thick of the commercial and financial district, within walking distance of malls and offices. Prices here can go as high as P300,000 per square meter. On a budget? Don’t worry—you can buy a condo in the fringes, right outside Bonifacio Global City. Prices here are friendlier andou can get a 50 square meter condominium for about 3 to 4 million pesos.
3. Check the developer and property manager.
Read reviews online about the developer of the condominium. Do they deliver quality buildings? Ask about the property manager. Do they maintain the premise well? You can also ask other condo unit owners about their experiences.
4. Go online.
The easiest way to find a suitable BGC condo is to log on to brokerage service websites. Using their tools, you can quickly see property descriptions and specifications, prices, and locations. A condo for sale in BGC can be a good investment as long as you consider the factors listed above.
Good luck on your search and enjoy the process!
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