Marina Spatial

We have no intention of buying a condo here but as I had some spare time while waiting for my wife I asked the saleswoman at Hypermarket about the monthly dues for this project that covers the security guards and all other maintenance.
She told me that there was no figure on that yet and it would be explained at the orientation after purchase.
The reason I asked was that in 2014 we signed up for a condo in Manila, we were told the same regarding dues but as is was a 52 floor building and the cost of the dues would be divided between a large amount of people we were not too concerned.
On completion in 2018 the cost of the dues was revealed to be eye wateringly high
On completion the property management is handed over to be run by a private company.
I would advise anyone investing in this project to take this into consideration.

 

Most condos in the Philippines are totally overpriced. In east Germany a house and lot can be cheaper than a small condo in the Philippines. And the price increases are also insane. For the price for a 100 sqm condo 4 years ago do you get today only around 30 to 40 sqm.

 

Simply put you would want to be off your rocker to buy anything that resembles a condo, unless you make the rules and set the fees you are on a loser in every way possible, every decision is out of your hands, we have all been around the Philippines stayed in condos as part of hotels or airbnbs or otherwise, sub standard at best, most of these units are bought off the plans, by horny fiancees and OFW looking for some breed of an investment that could get them home quicker to their families, Condo purchasing should be added to the "Diseases to avoid" list

 

32 sq m, 344 sq ft is too small. Plus, they are measuring from the outside wall, not the inside--as I discussed in a previous thread.

 

Look at a condo like paying 50 years of rental at once. Therefore compare first 50 years of rental with the purchasing price of a condo. Don't forget that a condo has additional expenses as well. Is the condo being much cheaper than the rental, then get the condo. Else better get the rental.

 

Compare 50 years of rental with the price of a condo, no one with common sense would do that, 10-15 years would make common sense

 

Some are for rent, 26,000 a month. After 10 years if you got 100% tenancy it could be paid for. Big if though and then there's the service fees, goodness knows how much they cost?

 

50 years are the lifetime for a condo. If just using 10 to 15 years then buying is even much more expensive. One thing I forgot in my calculation are the renewal/renovations of the condo/house after 10 to 25 years depending on the quality of the condo/house. These can eats up to 50% of the buying price for the condo/house.

 

You don't need to think of renovation if you buy an apartment at Marina Spatial, it's p*ss poorly built IMHO and will fall apart before it's 20 years old