In the US at least, when you buy a condo and sign the contract it's like you signed a checkbook full of blank checks and handed them to the management.
When you rent a house you only pay 3% of the real purchasing value of that property /12 and that should be your monthly rent. NOT MORE. I would never buy in Philippines not even a condo. You should read what they do with your property after you die. Moreover it is a fact the property bubble and mortgage bubble is about to burst in Asia.
Interesting. Care to elaborate or have a link that shows what they do with your heirs property after you die?
It has the concrete posts and beams for the first two floors now. They made a growth spurt but it turned out to be just a quick drip in the bucket. At the rate they are going it should be about 10 years to completion.
I made an enquiry back in October 2016 and was told (as it seems is common practice) that the units would not be ready for a few years (I did not take much note after that and so have no idea when they were 'promised') but that the price would be higher than the price quoted to me in October (again this may be common practice to allow for increases in building costs) and would be about +10%. This was quickly followed by, from the 'tactful' saleslady, "you can afford it". She was correct but any such assumption would end any negotiations for me stone dead.
A rule on the Philippines: Never buy anything in real estate which is not already build and being ready to move in. That case happens quite common in the Philippines (and most other countries as well).
i think it is because of the lack of buyers.. if memory is correct there are no kitchens for these units..
How will the people cook in a such apartment? High prices for the apartments and then there are no kitchen? Sounds outright silly.
