8 Investment Advantages of Iloilo Business Park

The Megaworld Boulevard - long-stretching, wide road with bike lanes on the side (Sept. 2015 photo update)

Iloilo Business Park (IBP) is moving forward to become the biggest Central Business District (CBD) in Western Visayas. With the 72-hectare township established by Megaworld Corporation in Mandurriao, Iloilo City, IBP is now home to the most promising landmarks and leisure hub such as the Iloilo Convention Center, Richmonde Hotel Iloilo, BPO buildings - One Global Center and Two Global Center. A shopping mall, longest shopping and dining strip in the country, upcoming international hotel and more BPO buildings are being constructed to complete the vibrant township. Infrastructure and residential developments are booming left and right in IBP, more investors are looking at the global potential of its very own Boutique Hotel and Commercial District.

Like an investment magnet, IBP is steadfast in becoming the next most-watched Central Business District in the region and the whole Visayas area. Here are 8 big reasons why investing for IBP’s commercial lots, condominiums and office spaces are definitely worth it:

Location is the key

Iloilo Business Park is basically located in the old location of Iloilo Airport, the 72-hectare township is teeming with great opportunities as the most complete commercial area. Megaworld Boulevard, its main highway retained 30% of the old airport runway that stretches to both ends of the township. With the APEC 2015 ministerial meetings coming to an end this October 6, visitors and investors foresee the township as the next epicenter of finance, commercial and leisure activities. Multinational companies and firms see IBP as their next location for regional headquarters and offices.

BPO Building - Two Global Center is presently the office and operation site of BPO Company StarTek (Sept. 2015 photo update) 

Accessibility is conducive

Getting to work, live a healthy lifestyle and going around the township is very easy in Iloilo Business Park with wide roads along the Megaworld Boulevard and open spaces between the buildings. The township is has less traffic and boosts with serene ambiance, making it easy for cars and motorists to traverse the Megaworld Boulevard.

One Global Center - Transcom Iloilo Office and Operation Site (Sept. 2015 photo update) 

Safety and Security is guaranteed

Leave your worries behind once you step inside Iloilo Business Park because security personnel are moving round-the-clock. Well-lighted highways and corners in IBP with a lot of visual scenery at night will make you feel safe and secured. Its residential towers are also well-guarded that provides access to nearby establishments and leisure spots.  

Sept. 2015 construction update of the Street of Festive Walk set for 2016 target completion

Wise Township Planning

No need to bring a pair of slippers or rain boots to work because IBP is flood free, boosts with wide roads, open spaces and parking areas for residents and visitors. IBP have complete township amenities and establishments from shopping centers like Festive Walk Mall, Street of Festive Walk to boutique hotels like Richmonde Hotel Iloilo and Courtyard by Marriot. Call center companies hold their offices and operation sites in nearby BPO buildings, making it accessible for workers and employees who live nearby the township.

Round the Clock Power

Power interruptions aren’t a problem in IBP because buildings are supplied with backup power. This is highly favorable especially to BPO companies since they operate 24/7. Having no electricity and active systems for just a few hours can cost the company thousands of dollars.

Richmonde Hotel Iloilo is a first-class hotel and Richmonde Tower holds various offices for IBP and BPO company Reed Elsevier (Sept. 2015 photo update)

More Options

Iloilo Business Park provides more options for potential investors and businesses to prop up because of accessibility, more office spaces and commercial lots to offer especially in the Boutique Hotel and Commercial District.

Iloilo Convention Center is a world-class convention venue that can hold up to 3,700 audience, is now the venue for APEC ministerial meetings from Sept. 21 - Oct. 6 (Sept. 2015 photo update) 

Better Tax Rate and Efficient City Government

The City Government of Iloilo has been awarded many times for being efficient in terms of public governance and transparency. They also elevate their standard in terms of processing for business permits and assistance for business consultancy. Also, the city’s tax rate is far lower than most major metropolises in the country including Metro Manila. They also work hand-in-hand with investors especially with Iloilo Business Park to attract investors and open better opportunities for the local workforce and professionals, making the township a very competitive place for business.

Serenity and Appeal of Greens

Iloilo Business Park is an ecologically-centered and sustainable close-to-nature township where strips of greens along the Megaworld Boulevard create visual appeal to visitors and commuters. IBP have open spaces, bike lanes and wide roads with stripes of green where people can do healthy activities, have picnic and meet acquaintances. The Street of Festive Walk is a long-stretching shopping and dining destination, an open al fresco place where visitors and residents can enjoy without worrying about pollution. The Palladium, IBP’s tallest condominium tower have four sky gardens that replicates real rain forests.   

Iloilo Business Park is truly an ideal place to invest in. With an environment that balances work with leisure, it’s not just another financial district on the rise. It’s a booming business oasis that will elevate the Ilonggos’ lifestyle.

Looking for a commercial lot, office space or classy condominiums in IBP? Contact us now and we’ll help you find the perfect choice for your desired lifestyle and business ventures. Call us at (033) 330-3462-65 or visit us in our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City. For online, visit us at www.iloilobusinesspark.ph.

 Megaworld Boulevard is a long-stretching main highway in Iloilo Business Park, retaining 30% of the old Iloilo Airport runway.

Two Global Center, a BPO Building is the office and operation site of multinational company StarTek.

The Street of Festive Walk, the longest 1.1 kilometer shop-and-dine strip in the country is near for full completion by 2016.

The biggest McDonald's in Panay Island and the IBP township signage creates a lively synergy.

Richmonde Hotel Iloilo and Richmonde Tower is now a visual attraction at Iloilo Business Park.

Courtyard by Marriot, an international hotel is scheduled to be completed in the first quarter of 2016. 

Extraordinary Reasons why Iloilo Business Park is worth investing and culturally uplifting the Ilonggo pride:
1. Before and after it's launching in 2013, Iloilo Business Park created an economic impact and credible basis for making Iloilo City as the next premier city capable of embracing its new-found elevated stature in terms of tourism, cultural and investment potential.
2. Iloilo Business Park is significantly considered by business and economics analysts as Iloilo City's "claim-to-fame" investment magnet among future investors, as well as visitors and travelers both uplifting the economic and investment potential of the city.
3. Iloilo Business Park is immensely the largest and complete 72-hectare mixed-used development real estate project of Megaworld, combining commercial, business and lifestyle interests, attracting investors and invigorating the business ambiance of Western Visayas. 
4. Iloilo Business Park widens the lifestyle and business perspective of Ilonggos not only by embracing steadfast change and developments but it gives them a foretaste of a classy, highly-urbane vision of a new township concept - the Megaworld branding: live-work-play-learn! 
5. Iloilo Business Park is redefining and introducing the "condo lifestyle" to Ilonggos as it complements the premier urbane ambiance of Iloilo City. It introduces a more convenient fast-paced style of living, cost-efficient and tourist-friendly lifestyle. 
6. Iloilo Business Park is the real estate game-changer, "a tangible realized future vision" of modern Iloilo City as a first-class economic and investment center in the Philippines. 
7. If Iloilo Business Park will be defined for its investment strength especially in the field of BPO business (more than 30,000 job offering locally) and tourism magnet potential, then Ilonggos can equate the premier township as a symbol of modern-day economic pride and prominence. 
Keep up with the fast-paced change, invest at Iloilo Business Park by calling (033) 330-3462-65 or visit us in our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City. For online, visit us at www.iloilobusinesspark.ph.

Courtyard by Marriot elevates Iloilo’s Tourism

Artist's perspective of Courtyard by Marriot envisioned to open on the first quarter of 2016

Megaworld Chairman, Dr. Andrew L. Tan recently known as the Philippines’ “Hotel King” envisioned to turn his dreams into reality in Iloilo Business Park, his company’s real estate project by transforming the 72-hectare old Iloilo airport property in Mandurriao, Iloilo City as next destination of tourists by introducing Courtyard by Marriot, another international hotel set to provide ultimate comfort and luxury on the first quarter of 2016.  

Inspired by the world-famous South Beach area of Miami City, the visionary Megaworld Chairman wanted to bring the same tourism vibrancy to Iloilo City and the whole Western Visayas region through this brand new hotel located within the rising Boutique Hotel and Commercial District of the township.

For over ten years of development, it is expected that Megaworld will spend P35 billion to complete the township, invite more investors and attract tourists to come here. The introduction of Courtyard by Marriot, the first of its kind brand among the Marriot Group of hotels in the world, will put the region in the map in terms of world-class accommodation and luxury. Megaworld is allocating P1.5 billion to build the first-class hotel.

September 2015 construction update of Courtyard by Marriot is seen to be completed in the first quarter of 2016

Courtyard by Marriot Hotel will soon be known for its high-end passion by providing international standard of accommodation to business travelers and guests that will be ensured with great elevation in terms of lifestyle and leisure in Iloilo City. Set to pamper the elites and high-end guests, the hotel is equipped with 314 spacious rooms and suites including the 121 King Rooms, 140 Doubles, 32 Executive Rooms and 16 Suites.  All rooms will have a curtain wall system that provides an amazing view of the urban landscape of Iloilo Business Park. The hotel takes pride of its classy amenities that include a lounge bar, meeting rooms, swimming pool with pool bar, outdoor bar and grill, state-of-the-art gym and business center.

Courtyard by Marriott, from the Marriott International’s portfolio of world-class brands, is all about ‘Refreshing Business.’ The brand aims to provide guests with an environment that offers smart, energizing choices so that they can make the most of their time on the road.

Iloilo Business Park is modeled after the Megaworld’s ‘live-work-play-learn’ lifestyle township formula in the Philippines. Among its successful townships include Eastwood City, known to be the Philippines’ first cyberpark; McKinley Hill in Bonifacio Global City, Taguig; and Newport City in Pasay City, home of the famous Resorts World Manila.

Experience extraordinary accommodation and explore Iloilo Business Park. Call us at (033) 330-3462 or visit us online at www.iloilobusinesspark.ph.

Make Iloilo Business Park your new Home and Business Address

Iloilo Business Park is a vibrant destination for tourism, leisure and great opportunities in Western Visayas (Photo by Marx de Silva)

Amidst the bustling economy and infrastructure developments happening in Iloilo City, everything remains the same for Ilonggos – it still feels like home. Living in a city where the glorious past remains intact with the present and anticipate a bright future, this stunning city of inspiration comforts many Ilonggos around the world with pictures and images of their hometown, a place where there passion and love remains whole.

Iloilo Business Park, a 72-hectare mixed-use commercial complex in Mandurriao District is considered as the city’s new face of vibrancy and progress where a new competitive ladder of developments, success and opportunities open a new horizon to chase. Megaworld, the township’s developer has the leading reputation of developing modern communities and townships in Luzon for 26 years. Bringing their success vision of “live-work-play” in Iloilo, Megaworld designed Iloilo Business Park as a township that drives swift elevation of the city’s lifestyle, leisure, tourism, economy and opportunities for Ilonggos.

Envisioned as the future home of Iloilo’s elites, business magnates, professionals and even visitors who will fall in love with the effervescence of the township, and opted to invest and stay, Iloilo Business Park have what it takes to offer for a lifestyle that most of us are dreaming of. Work in nearby multinational companies located in BPO companies and enjoy the perks of a lively township. US-based BPO companies StarTek and Transcom hold their Iloilo headquarters in One Global Center and Two Global Center. Two more BPO companies are underway for completion – the One Techno Place and Two Techno Place. Across One Global Center, you can experience luxury and first-class comfort provided by Richmonde Hotel Iloilo. The hotel’s aptly popular restaurant, The Granary attracts diners and visitors for their luscious “Ensaymada” and other excellent culinary fare. The Bizbar is the hotel’s classy chill-out bar for acquaintances and bonding. The Iloilo Convention Center is a 3,700-seating-capacity event venue symbolizing Iloilo’s grandiose culture and destination for prominent conferences. It is now the venue of APEC 2015 ministerial meetings from September 21 to October 6. Underway for completion is the Festive Walk Mall, the shopping center of the township where 8 world-class cinemas will soon open, a food court, an events center and a line-up of international branded boutiques and retail shops will soon thrill mall-goers. Across the shopping mall is the 1.1-kilometer Street of Festive Walk, envisioned as the longest shop-and-dine strip in the country where culinary bistros, restaurants, pubs and retail shops will keep a large number of crowd and visitors entertained next year for its grand opening. The biggest McDonald’s in the Panay island is located across the Street of Festive Walk.

For luxury-lovers and lifestyle visionaries, Iloilo Business Park’s residential towers One Madison Place, Lafayette Park Square and The Palladium are considered the epitome of their dreams. These stunning condominium towers offer classy condo units in various styles, sizes and astonishing amenities that elevate the kind of living paralleled to Megaworld’s lifestyle signature. The Palladium is the highest tower in Western Visayas with 22 floors, a penthouse level where ultra-classy Loft Units reflects pure luxury, four multi-level sky gardens and other extraordinary amenities.

Iloilo Business Park is the home of the biggest and most-expansive financial and commercial district where commercial lots are available for investors. In fact, some of the country’s biggest banks such as Metrobank and Union Bank have already secured their respective lots in the commercial district. More investors and visitors are eyeing to put up their business ventures in Iloilo Business Park where tourism, economic prominence and countless leisure destinations converge into one exciting township that Ilonggos can now call home, a home for their rich cultural heritage and investment for a brilliant future.  Now, wouldn’t you want to make Iloilo Business Park your new home and business address?

Call us now at (033) 330-3462 or visit us online at www.iloilobusinesspark.ph. For condominium inquiries, visit our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City.

High-life Destination: Street of Festive Walk

September 2015 photo updates (construction) of the Street of Festive Walk set to be completed on the second quarter next year 

Imagine one amazing avenue of pleasure and leisure, the longest 1.1 kilometer dining and commercial strip in the country opening in the very heart of Iloilo Business Park (IBP), Western Visayas’ biggest township. True to the vision of Megaworld Corporation, IBP’s developer, the Street of Festive Walk is one of the most anticipated destinations opening on the second quarter next year to energize the current wave of developments happening in Iloilo City. It is another addition to the world-class sights and sound of city life that swiftly elevates the modern Ilonggo lifestyle.

Beyond its concept as a specific spot of retail stores, restaurants, pubs and coffee shops combined together, the Street of Festive Walk is envisioned to leave a mark in the leisure culture of Iloilo City and its neighboring provinces. Day in or day out, this will become a vibrant destination for people whose passion is to experience ultimate dining, shopping and seeking for entertainment that is “high brow” and classy.  Megaworld ensures that everything you seek for pleasure by day and highly-elevated “nightlife” will perfectly converge in a long-stretching avenue of good times, extraordinary experiences and savor the best of exclusive lifestyle perks that IBP has to offer. High-end names in the restaurant and dining business will converge to offer luscious culinary cravings in the Street of Festive Walk. Expect fine dining bistros will blend well with local restaurants that showcase Iloilo’s excellence as a culinary haven in the country. For nightlife lovers and crowd, pubs and brewery-exclusive bistros will open to ensure great happenings. Conversations and memorable bonding among families and group of friends will enjoy the top-notch line-up of coffee shops, al fresco dining and open space walkways. Shopping for international brands will never be far away for shopaholics as chic boutiques and retail stores will provide visual deluge. The Street of Festive Walk combines visual pleasure, high-end leisure choices and countless enjoyments as it opens in 2016.

Artist's perspective of the Street of Festive Walk by Megaworld Corporation

Lifestyle-wise, it is adjacent and a stone’s throw away from IBP’s other attractions and establishments including the region’s next sensational shopping center – the Street of Festive Walk Mall and across the IBP’s residential district where condominium towers like One Madison Place, Lafayette Park Square and The Palladium will become the home of Iloilo’s elites. The Street of Festive Walk is surrounded by BPO Buildings where multinational companies provides competitive career to professionals, and a few steps away from Richmonde Hotel Iloilo, Iloilo Convention Center and Courtyard by Marriot.

With the Street of Festive Walk set to change the dining and shopping habit of Ilonggos to another level, there is no need to imagine the impossible. Truth is, it is happening sooner than we expected as Megaworld’s Iloilo Business Park offers more than business and pleasure to Ilonggos – the township offers “life-and-style culture” like no other real estate developers has offered before in the region.   

Explore more at Iloilo Business Park. Call us at (033) 330-34-62 to 65. Our online website is www.iloilobusinesspark.ph or check out IBP showroom at the ground level of Richmonde Hotel Iloilo, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City.

Creative Lifestyle you can OWN at IBP

More than just a business township of opportunities and financial center, Iloilo Business Park, the 72-hectare mixed-used commercial complex developed by Megaworld, the country’s leading real estate developer transformed the old Iloilo airport property in Mandurriao district into a bustling lifestyle, leisure and entertainment destination. Talking about lifestyle, you can live with excitement, and creatively in this promising township…

1. Health buffs are here

You know what they say about health buffs? They can’t resist getting physical and it is making them feel good especially if they have the perfect place to do it. Iloilo Business Park has all the stunning visual scenery that will attract health buff to come and enjoy the place – wide spaces, close-to-nature ambiance, huge buildings and fresh air. From jogging, walking and even biking, the township dedicates a Bike Lane along the Megaworld Boulevard to ensure safety and friendly spot for those wanting to enjoy the rest of the day. Iloilo Business Park and the City Government of Iloilo holds the annual Iloilo Bike Festival to attract bikers and sports enthusiasts.  

2. Selfie all you can

Sure, “selfie” is today’s “in thing” in the social media world. People snap photos everywhere and post it online especially if the place is relaxing and enjoyable. No need for a ‘selfie’ guide in Iloilo Business Park because the whole township is stunning and abundant with exciting scenery to do it. Celebrate friendship, bonding and get-together with friend or acquaintances in coffee shops, restaurants and retail shops at the Festive Walk Mall and Street of Festive Walk. Celebrate success with careers and business meetings in BPO buildings and international hotels like Richmonde Hotel and Courtyard by Marriot. Be impressed with the Iloilo Convention Center’s amazing architectural design outside or experience classy events happening inside it. In front of the biggest McDonald’s branch in Panay, a huge IBP logo emblem is always ready to accommodate your instant ‘selfie’ snaps.

3. Create your leisure list

When Iloilo Business Park is in full swing very soon, this vibrant township will be teeming with non-stop and endless reason to visit. You can create your own “leisure list” for blogging or social media posting either as a frequent visitor or a township resident to enjoy your day with your company, friends or acquaintances. For day visitors or residents, you can create your leisure guide starting with a healthy jog or walk in the morning, breakfast in any restos in the Street Festive Walk, shopping or movie watching at the Festive Walk Mall in the afternoon, business meeting at Richmonde Hotel or watch a concert at Iloilo Convention Center in the evening. For nightlife enthusiasts, you can start the fun right after work at the Festive Walk Mall with friends, chill with them in any bistros at the Street of Festive Walk and conclude it with a karaoke escapade with them.  

Artists Perspective of One Madison Place, The Palladium and Lafayette Park Square

4. Careers are fun here

You can mix career life and endless fun by living in Iloilo Business Park. Since IBP is officially the biggest BPO center in the region, there are various multinational companies such as StarTek, Transcom, Reed Elsevier and many others envisions to hire competitive local work force. The hospitality service and tourism sector will greatly benefit with the opening of the Street of Festive Walk, Festive Walk Mall, Richmonde Hotel and Courtyard by Marriot Hotel. These significant employment surges in the township will create opportunities and at the same time, expand IBP’s leisure and entertainment offering. Those working for the call centers can now enjoy the perks and privileges of first-class leisure and fun available in the township. They can also live and enjoy a classy lifestyle with their IBP’s residential towers offered by One Madison Place, Lafayette Park Square and The Palladium.

5. Own the Cultural Pride

As Iloilo Business Park makes its recognizable mark as the township venue of the APEC 2015 ministerial meetings from Sept. 21 to Oct. 6 through Iloilo Convention Center, the commercial and economic ambiance will surely inspire foreign dignitaries and delegates to envision the township as a possible investment hub in the future. These economic visions create a sense of pride among Ilonggos and local businesses to consider the township as Iloilo’s future face of bright opportunities. As the city government continues to promote its campaign slogan – “I am Iloilo” – the same resonance of passion creates ownership, pride and embracing of a new culture for Ilonggos. Local or abroad, Ilonggos are now recognizing Iloilo Business Park as a must-visit center of a new lifestyle to own.

Chasing the Blue Hour and Photography with Felipe Uygongco

“For me, photography is both passion and art,” says Felipe Uygocongco, an Ilonggo photographer whose extensive work in photography captured most of Iloilo’s beautiful landmarks, tourism sites, hidden gems, and vibrant faces of people for the last five years of his triumphant return to photography. His interest in photography started during his early days in high school and college. Back then, he mastered the use of point-and-shoot camera, a very ordinary gadget that never failed to evoke his interest in photography.

“I’ve always been a lover of beautiful images and visuals that speaks about different stories,” he continues. After college, he decided to dedicate his life in their family business, his career elevation and soon had his own family to take care of. But his inclination for photography never slowed down and remained intact in his heart.

Iloilo Business Park Head of Sales and Marketing, Jennifer Ann Palmares-Fong presented a token and certificate of appreciation to Felipe Uygongco.

“Photography has always been there inside me, waiting for the right time to bring it out and express it,” he uttered with confidence. After decades of dedicating himself with his career, business, and family life, he decided to pursue his passion for photography.  It was more than five years ago when he decided to make photography his most anticipated retirement hobby that awakened the slumbering artist inside of him.  Once again, he learned to appreciate the beauty of natural scenery and places that he  visited around the world through photography.

“Light makes photography work. Using it and embracing it is making more than just art,” he said. For him, photography is about creating balance and harmonizing the light that creates a visual story. For most of his time as a photographer, he is a storyteller who always waits and chases the “blue hour,” the period of twilight each morning and evening when the sun is a significant distance below the horizon and the residual while indirect sunlight takes a predominantly blue hue. When most people in their retirement years pursue the life of comfort and stress-free lifestyle, Uygongco still has the burning passion to chase the hard life of a photography artist whose flair is to satisfy the heart, seeking the thrill of adventure and difficulties, all in the name of perfecting a craft and achieve true artistry.

“I had to wear thick clothes just to keep myself warm during our photo shoot sessions in cold countries abroad. Sometimes, when you love to do something, there’s no obstacle that you can’t get through. Everything becomes easy when you’re willing to do it right,” he said. Constantly, he keeps on learning and developing his skills, trying to discover a lot of techniques and apply it with his craft. Together with his group of photography buddies, they are striving to hone their skills and travel as much as they can. The closest photography subject in his heart is capturing the images of Iloilo’s culture, landmarks, people and heritage, from the old buildings in Calle Real to Iloilo River and a lot more.

“Iloilo Business Park is a picture of progress for Iloilo City these days. As a photography artist, it is a challenge for me to capture the visual scenery in this township that started to open a gateway of world-class opportunities and strong infrastructure developments not only in the city but the whole Region VI,” he further enthused. With great enthusiasm, he immediately agreed to accept the invitation in taking part in Iloilo Business Park’s photo exhibit event entitled “La Fotografia: Capturing the Progress of IBP” weeks ago. With confidence in his craft, he showcased the vibrant side of the township through his stunning photos during the exhibit last September 19, 7pm at Richmonde Hotel Iloilo. His seven exhibited photos grandiosely presented Iloilo Convention Center, Richmonde Hotel Iloilo and other scenery in the township that defines the vivid concept of Iloilo’s glorious economic rise.

“We Ilonggos have come a long way from a sleepy city into a progressive rise as the original ‘Queen City of the South.’ Aside from considering these photos as part of my life’s greatest work and journey, let these images tell you how great it is to be an Ilonggo,” he spoke with sincerity, concluding his speech with a spark of vigor in his eyes.

Investment Strategies and Tips for Condo Buyers

Condominiums are sprouting from everywhere in the Metro. Thanks to the developers who are capitalizing from the low interest rate, and from the cash flows of Overseas Filipino Workers (OFWs) abroad and the employees of the Business Process Outsourcing (BPO) sector.

As a newbie condo buyer, it maybe easy for you to join the bandwagon and buy seemingly desirable condo property that is offered to you. Whether buying a condo is primarily for the purpose of residence or as a mean to generate passive income by renting it out, having a good condo strategy would give you a well-defined course of action. Below are some of the best condo investment strategies that you can apply if you are thinking of buying a condo.

Location is the key. The main advantage of a condo over house and lot is location. You’re investing in a condo because of it’s location, bringing you into a more convenient lifestyle. It may be near from your place of work or located in a prime location where you can cater to a lot of potential tenants. Since condos are mostly located near commercial areas, go there during rush hour traffic. Chances are, the estimated travel time in the marketing brochure you have seen will not take into account heavy traffic. Remember that you will need to travel during rush hour and travel time to and from your condo should be an important consideration.

Apart from the issue of traffic, try to pass by the location during heavy rains and check if flooding is an issue. In addition, aside from the location of the condo building itself, you should also consider the location of your unit within the building. If you work on the graveyard shift and need to sleep through the day, pick a unit on the upper floors so you can isolate yourself from the street noise. Units which are near the elevator or the garbage chute are cheaper for a reason – elevators opening and garbage plummeting down the chute make a lot of noise. Choose wisely not only the location of the building but your unit in the condo building as well.

Financing your condo. How are you going to pay your condo that you intend to buy? Are you going to pay in cash or borrow money for it? In answering this question, take note of your cash reserve and cash flow. Buying in cash can help you get a much better price because most developers offer significant discounts as an incentive for you to do so. However, make sure that you have enough cash reserve to fund your expenses in cases of emergency. Unlike paper assets such as stocks and mutual funds, a condo is not easy to sell and requires time to liquidate.

Meanwhile, if you are considering borrowing money from the bank to buy your condo, make sure that you have strong cash flow to pay for the monthly amortization. For those who are buying it for the purpose of renting it out for passive income, check the amortization amount versus the potential rental income. You may want to buy a condo with a significantly lesser monthly amortization amount than the potential monthly rental income for it to be a self-liquidating investment.

That being said, you should also consider the lower end of your average monthly cash flow before taking on a loan.  A good gauge would be to have a surplus of about 10% to 20% of your average monthly cash outflows after subtracting the monthly amortization on the condo. Why? Not at all times, your condo unit is guaranteed to have a tenant as there may be times when your unit will be vacant.  If you are able to save about 10% to 20% after subtracting the monthly amortization, you’ll have enough funds to cover for amortization during vacant times and to provide for you and your family’s needs.

There are other costs. You should be concerned not only to your monthly amortization but also to other expenses associated in owning a condo. Condominium buildings will also charge you monthly or annual condo dues for the maintenance of common areas of the building. This cost will vary depending on the size of your condo unit, and the type of services and amenities available to unit owners. Aside from condo dues, as a real estate property owner, you will also need to pay for annual real property taxes and insurance.

In addition to the monthly or annual costs, there maybe one-time payments needed that must also be considered when buying a condo. Most contract to sell will normally state that you will have to shoulder the costs of transfer tax and the registration of the condo title in your name. This should amount to no more than an additional 4% of your purchase price.

Read the fine print. For the common good of all unit owners, your condo will be governed by a deed of restrictions. The restrictions will dictate what you can and cannot do when you move in to your condo. Ask for a copy of the master deed and restrictions of the condo project and read through it. If you are a pet lover, you should know if the building will restrict or even prohibit pet ownership. Some condominium buildings may also prohibit the use of LPG.

The numbers don’t lie. When it comes to return on investment or ROI especially for those looking to rent out their condos for passive rental income, the numbers don’t lie. With a lot of condo projects that are on sale nowadays, given location as being equal, you might be asking yourself, shall I buy a brand new or a second hand condo unit? Let’s run the numbers.

If you want to ensure minimal vacancies for your unit, the best price to offer potential tenants is the lowest possible rate, inclusive of condo dues.  For example, say you have the cash and you are thinking of buying a Php 1.5 million second hand unit versus a Php 2.5 million brand new unit.

If you rent out a second hand condo unit at Php 10,000 per month, inclusive of condo dues, at an average acquisition price of Php 1.5 million, your estimated annual ROI would be:

Annual ROI = Annual Rental Income ÷ Acquisition Cost

Annual ROI = [Monthly Rental x 12] ÷ Acquisition Cost

Annual ROI = [Php 10,000 x 12 months] ÷ Php 1,500,000.

Annual ROI = 8%.

However, if you bought a brand new condo unit at an average price of Php 2.5 million and you would like to earn at least the same ROI as the second-hand unit, you’ll need to rent it out at:

Monthly Rent = [Acquisition Cost x Annual ROI] ÷ 12 months

Monthly Rent = [Php 2,500,000.00 x 0.08] ÷ 12 months

Monthly Rent = Php 200,000 ÷ 12 months

Monthly Rent = Php 16,666 (inclusive of condo dues)

If you want to ensure minimal vacancies for your unit, the best price to offer potential tenants is the lowest possible rate, inclusive of condo dues.  For example, say you have the cash and you are thinking of buying a Php 1.5 million second hand unit versus a Php 2.5 million brand new unit.

Now, put yourself in the shoes of ordinary office worker who would like to rent it to save on time and effort on commuting, which one will you choose? Chances are, you’ll go for the second hand because you will just basically use it as a shelter to eat, sleep and go to work.

Condominium investing is truly a good source of passive income. However, before you plunge your hard-earned money into it, make sure you are armed with your strategy so as to become a successful condo investor.

Must-have Condos at Iloilo Business Park

At Iloilo Business Park, Megaworld’s 72-hectare business township offers the most high-end residential condominium towers for those looking for near-perfection, if not, the classiest and most exciting in terms of amenities and location. Iloilo Business Park’s three most iconic residential towers are the contemporary-designed 3-tower One Madison Place, the vintage architectural-designed Lafayette Park Square and the 22-floor, sky-garden-lifestyle The Palladium. Each of these tower offers condominium units in various style and sizes, mood and vision, financing and payment mode that suits your needs, your passion and ensures your money’s worth when investing for a lifestyle you desired most. For more information, you may visit our showroom at the ground level of Richmonde Tower, 8 Enterprise Road, Iloilo Business Park, Mandurriao, Iloilo City or call (033) 3303462-65 or visit us at www.iloilobusinesspark.ph.

(Article source : http://www.millionaireacts.com/3246/condo-investment-strategies-and-tips-for-buyers.html)