Philippine Real Estate Broker

Thanks to the boom in the business process outsourcing (BPO) industry, the Philippines is the hottest real estate market in Southeast Asia Today. According to CB Richard Ellis Group Philippines general manager Trent Frankum, the BPO created newer opportunities for the real estate market. Major businesses and investors are expanding their presence in the Philippines due to the large work force and because it is one of the biggest English speaking nations in the world.

This assessment was recently made in Hong Kong at the Smart Investment and International Property Expo, the biggest real estate exposition in Asia. The expo showcases global real estate market opportunities and invites property experts and investors from global companies in Asia, the UK, and Australia.

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If your new home in Serendra or Celadon Manila looks a little bare and you’re not entirely sure how put together a well-designed home while maximizing the space you have, look into Ethan Allen’s Lifestyle Designs. They just released seven distinct decorating styles called Projections of Distinct Styles (PODS )which caters to all sorts of tastes, be it classic or contemporary. Two of these PODS, however, are most ideal for condominiums owners who want to live in a classy, cosmopolitan atmosphere while making the most out of what limited space there is.

METRO

The Metro Pod is perfect for people with a preference for simplicity and natural elements. Finished woods, exposed brick, timbers, and metals give the place a warm, earthy feel and allow you to live a modern minimalist lifestyle. With this clutter-free design, you don’t have to worry about bumping into furniture when you invite your friends over.

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Build To Own is a new concept that will make buying or investing in properties easier for hopeful homeowners. Through this system, the prospective buyer engages the services of construction professionals who will build the house at direct cost. This means that the non-project related costs usually added by developers and middlemen are not included.

The idea of Build To Own came from local firm G&W Architects, Engineers, and Product Development Consultants, a firm that considers itself an architect-led instead of developer-led company. The buyer can save as much as 40% by hiring construction professionals directly - the exact same people developers hire to build and design their projects. Besides savings, the buyer also receives homeowner protection from the Build To Own System. Instead of making payments directly to the developer, unit owners make payments to a depository and disbursement bank, which ensures that the money will only be used for the project. Besides saving on costs, end-users and investors of Build To Own projects will receive a high quality condominium development, adding up to better property values for your investment.

At the moment, G&W is investing in its new building, the Blue Sapphire, a 27-floor residential condominium development at Fort Bonifacio. For more information on the BTO system, visit the G&W website.

The most important thing you have to do before renting out your first apartment or condo is to make a budget. Look at how much cash you’ll be getting each month then determine how much of that will go to utilities, miscellaneous bills (cellphone, cable TV, internet), groceries, entertainment, and personal items. From there, you should be able to figure out how much you can spare for the rent. Remember though, that there are more costs to renting than the rent!

Remember that there is a difference between a reservation fee and a security deposit. The amount of the reservation fee usually varies from landlord to landlord but they’re usually the equivalent of a month’s rent. The difference between the reservation fee and the deposit is that the former is non-refundable. This is because the reservation fee is an indication of financial stability and serious commitment about renting the place.

The security deposit is refundable and is usually given when you move in or sign the lease. Any damages done to the property will be deducted from the security deposit. If the apartment is still in the same condition when you move out, you should get the entire deposit back. Before signing the lease, make sure you ask the landlord what items in the apartment are covered by the security deposit.

Other fees that you might have to pay besides the rent are a monthly parking fee or amenities fee if your apartment has a swimming pool or gym area. Late payment fees are standard for apartments but like other fees, they vary from building to building.

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