Essential Condo Facts to Consider Before Getting Your Own Condo

Purchasing a condo can very well be one of the best decisions that you have ever made. Having your own condo unit will allow you to save money, resources and benefit from its existing amenities, as well as conveniences that come along with it. It may not be house and lot package but we’re sure it has its own unique lifestyle package that will define your modern approach to stylized living and investment option that would allows you to gain something unique, priceless and inspiring.  Here are five benefits of buying a condo...

1. Owning a condo offers much of the same benefits of owning a house. Condo or house? First time home buyers are often faced with this dilemma. Making the decision to purchase a condo or a single-family home can be difficult. However, owning a condo is often an easier decision as the hassles of exterior “home maintenance” is taken care of.  Plus, residing within a building with gated underground parking provides additional security that is not available within a single-family residence.
2. Condominium owners have access to many amenities that are definitely lifestyle-defining and exceptional compared to a house and lot set-up. Condominium or residential towers will allow residents to gain access to a classy amenity deck located on a specific floor which include a swimming pool, pool lounge, a Jacuzzi, mini-pocket garden with benches, reading nook, outdoor cabanas, open-air spa, fitness gym, mini sky gardens and many other types. Lifestyle amenities vary which depends on the concept or theme of a residential tower. It can either be located altogether in one area or separately. Some residential towers have their Daycare for parents who wanted to leave their kids attended and taken cared of during busy days. Some have function rooms for special occasions. Most condo or residential tower have their own spacious main lobby that often reflects the theme or concept of the edifice.
3. Condominium owners save money. Possibly the biggest benefit of buying a condo is that you can expect to save money on maintenance fees and utility costs. All condominium owners must pay a monthly Homeowner’s Association Fee (HOA).  This fee covers the cost of maintaining the condo building. For instance landscaping, cleaning of the swimming pool and elevator maintenance are all covered under the HOA.  Since everyone in the building is required to pay an HOA fee, this expense is shared amongst all owners. Not only do the condo fees contribute to the building maintenance, but they also cover common area building electricity and exterior common area water costs.
4. Most condo owners pay lower property taxes. Generally, condo owners pay less in property taxes than traditional single-family homeowners due to the fact that the land value is a shared value. Foreigners can also have the chance to own their condominium when they buy a unit.
5. Safety and security are guaranteed when you own a condo since this is a shared community and it is the obligation of the developer to ensure the welfare of condo owners. Most condo or residential towers have tight security aside from having attractive amenities and scenery. CCTVs are readily available, guests and visitors entries are well-monitored by security personnel and state-of-the-art facilities pertaining to security ensures the confidence and trust of homeowners.

Iloilo Business Park's first two residential towers: Lafayette Park Square and One Madison Place

Change your perspective and live a more stylish lifestyle when you envision yourself living at Iloilo Business Park. Touted as the grandest lifestyle township in Western Visayas and developed by real estate giant, Megaworld Corporation, the township spanning 72-hectare located in Mandurriao, Iloilo City, is a place where you and your family can perfectly capture your desire for an incomparable lifestyle. Iloilo Business Park presently showcases 4 unique and upscale residential towers namely One Madison Place due to be completed this year, Spanish-French-inspired tower Lafayette Park Square set to be finished next year, the 22-storey The Palladium offering sky-garden-inspired lifestyle, and the Paris-styled 10-storey Saint Honore.

Iloilo Business Park's upscale residential towers with unique themes: 22-storey The Palladium, Paris-inspired 10-storey Saint Honore and Saint Dominique

Each residential condo unit and amenities of these 4 residential towers are designed to replicate high-end lifestyle, a modern approach of living to the fullest right in the middle of a bustling township and located near other destinations. The benefits of owning a home or a condo unit in any of these towers in Iloilo Business Park exemplifies luxury, passion and vibrancy with its near-complete package. You get to work or have business nearby; you can enjoy various lifestyle amenities including a lifestyle mall, shop-and-dine strip commercial area; look out for unique metropolitan events more often; and enjoy a bike lane intended for a whole day physical activities and a lot more.

There’s no need for you to think twice rather than embrace the exciting lifestyle advantage that you can experience upon living at any of these condo towers at Iloilo Business Park. You get a life beneficial for your passion and your vision. For inquiries, call us at (033) 330-3464 or check us online at www.iloilobusinesspark.ph.

'Once Upon A Christmas' Ceremonial Lighting at Iloilo Business Park

Iloilo Business Park is celebrating the merriest time of the year with the grand ceremonial lighting of its Christmas Snow Globe, the centrepiece spectacle of the township’s “Once Upon a Christmas” theme celebration this Saturday, December 2, 6PM at Festive Walk Parade – Park Square Fountain Area. Expect a magnificent evening of Christmas-themed ballet performance by Claravall-Gonzales School of Classical Ballet during the unveiling of the Christmas Snow Globe, the first of its kind in Iloilo City.

Enjoy more surprise performances to share the spirit of Christmas such as music performance by the University of San Agustin's Troubadours, and so much more. Festive Walk Parade’s upscale restaurants, bistros and coffee shops will offer the best culinary escapade for the Ilonggos and visitors. Kids will be treated in excitement with Santa Claus meet-and-greet together MsDonald's mascots at the event. A dazzling fireworks display will surely mesmerize the crowd and light up the sky for an unforgettable evening.

Before heading to the grand ceremonial lighting of "Once Upon A Christmas" event, you can visit the Iloilo Business Park Sales and Information Center for an Open House Party entitled "Merienda Cena" starting 3PM where guests will be treated to a delightful culinary favorites and sweets. Also, you'll have the chance to know more about the upscale investments and lifestyle vision in Iloilo Business Park. We give you a look at the chance to invest for high-end condominiums and commercial lots.
See you at the region’s grandest lifestyle and entertainment township this weekend to make way for the merriest time of the year in the "City of Love." For event details, call (033) 330-3464. Online updates are posted at our social media page: www.facebook.com /IBPofficial.

Evening View of Festive Walk Parade

Impressive evening view of the Festive Walk Parade

See the bright lights and stunning view of the Festive Walk Parade at night in Iloilo Business Park. Touted as one of the country's longest shopping and dinning strip, this leisure destination is inspired by California-themed architectural design and combined with the "festive culture" of Iloilo City, the Festive Walk Parade is expected to gravitate visitors and onlookers.

Walk and stroll while choosing among the best and most attractive restaurants and shops at Festive Walk Parade

This next lifestyle and entertainment destination is offering various choices of retails shops, restaurants, boutiques and coffee shops that offers unlimited escapade for both locals and tourists. The first phase opened in December 2016 while the second phase is expected to open early next year. The impressive Casa de Emperador stands gloriously to showcase astonishing architectural charm while the newly-installed statue of Gen. Martin Delgado, an Ilonggo hero and the first Filipino governor of Iloilo Province, is a testament of the Ilonggos passion for culture and history.

Sit and relax while enjoying the view of Casa de Emperador and the statue of Ilonggo hero, Gen. Martin Delgado

The Festive Walk Parade is envisioned to as a 1.1-kilometer dining and lifestyle destination with a total of four phases to be completed in the coming years. Visit Iloilo Business Park and experience the relaxing ambiance of the Festive Walk Parade, where colorful memories and exciting lifestyle are taking shape every day.
We can help you with your lifestyle and investment dreams at Iloilo Business Park by calling (033) 330-3464 or visit IBP Sales and Information Center.

A Reflection of French Architecture at Saint Honore

Interior design of the Nave of Chartres Cathedral, Chartres, France 12th-13th centuries

A passionate look on French architecture and structures created in the area of Europe that is now France has left remarkable legacy from the past. French architecture has been shaped and influenced by various era of art and culture. It defined one of the most enduring designs in history brought into our modern world. Here's the first part of our series of feature on French architecture that continues to remain in the creative essence of artists and architects of our modern world.

Maison Carree, Nimes, France 1st century BC finest surviving example of a roman temple, the blending of etruscan and Greek elements

Early French Architecture

The earliest surviving architecture in France dates to the Stone Age, as a number of prehistoric sites in Brittany attest. Classical architecture was introduced into the south of France during the Roman conquest in the 1st century A.D. Well-preserved examples of Roman architecture include the Maison Carrée and the Pont du Gard near Nîmes. Scant traces remain of the early development of Gallic architecture, including Early Christian, Merovingian, and Carolingian buildings. The Roman basilica form predominated and, during the Carolingian period, was greatly enriched by design innovations.

Paris Winter White Windows Lace Balconies - Paris Window Balcony Architecture Art Nouveau

The Flowering of French Architecture

Innovations manifested in Carolingian buildings gave rise to the architecture of the Romanesque period, when many fine works were executed in France, and to the great cathedrals of the Gothic style, of which France was the principal center - Romanesque architecture and art, Gothic architecture and art. Many superb medieval monuments are still extant, including St. Sernin, Toulouse (1080–1120) and Chartres Cathedral (begun 1194).

Typical apartment design in Paris

The Renaissance

The revival of classical art and architecture during the Renaissance spread from Italy to France in the 15th and 16th century, giving rise to the majority of the famous French châteaux, primarily in the Loire valley. During the first half of the 16th century, Francis I established his court at Fontainebleau outside Paris, where he employed numerous Italian architects and artists, including Sebastiano Serlio, Il Rosso, and Francesco Primaticcio. At the same time native architects came into favor; they included Pierre Lescot, who built parts of the Louvre (begun 1546), and Philibert Delorme, who designed the Château of Anet (1547–55).

Classy night facade, Saint Honore relives French architectural design

A Reflection of French Architectural Vision 

In Iloilo City, a piece of French architectural design will be beautifully replicated through the rise of Saint Honore, the newest residential tower offered by Iloilo Business Park for future residents of the township. Collecting inspirations from French architecture, Megaworld, the country's real estate giant is envisioning to bring a piece of Paris to the 'city of love' with this project.

Saint Honore's Lifestyle amenities: Outdoor swimming pool on the third floor and the Atrium inspired by Paris' famous Tullieries Garden

Saint Honore honors the art of French artistry with its gorgeous facade and vibrant colors. The 10-storey condominium tower offers seamless comfort and luxury with a total of 168 units ranging from executive studio, one bedroom to two bedroom units. Taking your leisure fantasy to life, the tower has its own third level amenity deck where a gorgeous swimming pool, pool lounge, jacuzzi, fitness center and function hall defines true relaxation and pleasure. The inspiring attempt of Megaworld to capture the beauty of Paris' very own public garden, the Jardin de Tuilleries, pave way for the rise of the tower's Atrium, a replete landscaped garden complete with seating trellis, recreational areas and accented by artworks and sculptures.

Saint Honore is a short distance from other notable attractions in Iloilo Business Park including the Festive Walk Parade where is a part of the 1.1 kilometer shop-and-dine strip, Festive Walk Mall, Iloilo Convention Center, BPO buildings, Richmonde Hotel Iloilo, Marriot Courtyard Hotel and the township's Commercial District.

If French architectural design is legendary and iconic, Saint Honore embraces the impressive essence of Paris lifestyle, showcasing the beauty of the past and bringing a piece of it to Iloilo City.

We'll be discussing more on French architectural designs in the coming articles and we will keep up inspired why Saint Honore is definitely Iloilo Business Park's most gorgeous and highly-recommended lifestyle tower that can fulfill your dreams.

Do you have more inquiries about the project? Call us at (033) 330-3464 or visit IBP Sales and Information Center open seven days a week.

Build your Business and Success Through IBP's Commercial Lots

Commercial property, also known as investment property, is any type of real estate that you own for the purpose of generating a profit. The category includes shopping centers, office buildings, hotels and multifamily apartment buildings. The ways to make money from commercial property is as diverse as the types of properties that can fit into this category, and some types of revenue are unique to certain types of property. Generally, however, a few basic ways to make money from commercial property are standard across all property types. Get to know more about: Free for occupancy, appreciation, advertising and services that could maximize your investment interest in making money with your commercial property.

One of the primary ways to make money from commercial property is to charge other people to occupy it. If you own an apartment building, the charge is called rent. A company that wants to use a retail space in your shopping center signs a lease agreement and makes periodic payments. Your hotel charges a daily fee for use of the rooms. Likewise, if you own a parking lot, you charge a customer an hourly, daily, monthly or yearly parking fee to occupy a space.

Another way to make money from commercial property is to sell it once the property has appreciated, or increased in value. Commercial real estate can rise in value if you put work into improving the look of the property, if a traffic pattern is established that substantiates the value of the location, if the surrounding area experiences a tourist boom, or any of a hundred other reasons that can affect the market. These investors make their money on flipping, or reselling the property, not on rent collected over time.

Many types of commercial real estate have some capacity to make money from advertising. You can sell access to billboards or signage on the property. You can publish a directory of services that tenants provide and sell print advertising in the book. Your hotel or shopping mall can allow outside advertisers to have access to their customers in various ways.

One of the best ways to make money from commercial property is to charge the users for additional services that you provide. For example, you may lease the office building you own to a tenant but retain control of the parking lot, generating an additional income stream when employees and clients need to park. You can also make it a lease requirement that the tenant use the trash removal or maintenance company that you own, for example, to make money.

Present Site Update of Iloilo Business Park

Iloilo Business Park's 9.2 hectare Boutique Hotel and Commercial District present site update

Iloilo Business Park, the 72-hectare commercial township of Megaworld Corporation in the strategic Mandudrriao District, Iloilo City showcases its 9.2-hectare Boutique Hotel and Commercial District. Comprised of high-end commercial lots, this area in the township is a potential investment property that can yield profit and return of investment for investors, looking ahead to forge an exceptional future and business venture. Owning a commercial lot in Iloilo Business Park will give them the prestige they aspire as investors since it is located in the epicentre of leisure and business. Financial and bank institutions have already owned their properties in the commercial district where they eyed to build their regional offices. Local entrepreneurs who already owned their commercial lots are optimistic to pursue their various business ventures in the area.

Being a part of the region’s grandest township and owning a commercial lot in Iloilo Business Park is one step ahead to pursue your business dreams and maximize your investment.

Get to know more about Iloilo Business Park’s Boutique Hotel and Commercial District. Call us at (033) 330-3464 or visit us online at www.iloilobusinesspark.ph.

The Benefits of Property Investment

Buying an investment property is a very popular investment option. One of the main advantages is that you have control over most parts of your investment. You have the power to decide:

If the purchase price, rental and potential for capital growth are acceptable.

How much cash you're going to put into your property investment, if any.

How you'll structure your mortgage(s).

How you're going to improve the value of your investment property to achieve the rental return you want.

If you'll manage your investment property or properties yourself, or pay a property manager to do it for you.

How you're going to maintain the property and whether you'll repair it yourself (if you can) or get someone else to do it.

This doesn't mean you have to do everything yourself, but it does mean you have to take an interest in what's going on. Residential property investment is not a passive way to make money.

More specific benefits of property investment include:

The security of bricks and mortar

When you buy an investment property you're buying a physical asset. Many people are more comfortable with this than other less intangible investment types such as unit trusts or shares.

Rental income

You can put the income from renting your investment property towards the repayments on the mortgage you’ve taken out to buy the property.

(If your financing costs and other investment property-related expenses are greater than your rental income, you may find yourself in a "negative gearing". While this has risks, it can also have advantages).

How to calculate your rental income return

Calculating the returns from rental income can help you compare different investment properties. 

Two common measures are:

Gross rental yield

This is the rental income received relative to the value of your investment property. To calculate Gross rental yield, divide the annual income from the property by the purchase price and multiply by 100 to get the percentage rate of return (yield).

Rental return on investment

This is the rental income received relative to your equity or investment in the property. It's important to factor in the costs associated with the borrowing required to buy the investment property, along with the other expenses incurred from maintaining and managing it.

To calculate rental return on investment:

Work out the rental income per year and subtract total expenses associated with the rental property for the year (include mortgage repayments, insurance, rates, maintenance etc). This is also known as the ‘net operating income’.

Divide this by the total amount invested (your equity or investment in the property). Remember to include the cost of any improvements you’ve made.

Multiply by 100 to calculate the percentage rental return on investment.

Potential capital gains

Capital gains are the second form of income from your property investment (along with rental income).

You achieve capital gains when the value of your investment property increases.

Returns from capital gains depend on movements in the housing market and may take longer to achieve than rental income returns. Keep in mind that while property values tend to increase over time, they can go down as well as up. One strategy for achieving capital gain is to look for investment properties that you may be able to purchase for below their market value, or in areas where you think house prices will increase.

Combining rental income and capital gains

As an investor, you may aim to buy investment properties that can provide both types of investment return. Different investment properties will provide different levels of capital gain and rental income. It’s up to you to decide on your investment goals and the most suitable properties to achieve them.

Investing for Iloilo Business Park Boutique Hotel and Commercial District

Iloilo Business Park’s Boutique Hotels and Commercial District, a 9.2 hectare prime property composed of 60 prime commercial lots located in 10 blocks. It is envisioned to become the next Central Business District (CBD) in the Visayas. More than 80 percent of the commercial lots are already sold to bank institutions, local entrepreneurs and companies. This posh commercial area will become the center of business ventures and future buildings. In the coming years, IBP’s Boutique Hotel and Commercial District will be the busiest and bustling area of the township due to massive investments coming in. The country’s biggest commercial companies are looking ahead to put up their own showrooms, regional headquarters and offices here. Presently, the two most prominent bank and financial institutions that successfully acquired lots in the Boutique Hotel and Commercial District are Union Bank and Metrobank. 

Invest in upscale commercial district where guaranteed return of investment is assured and will surely elevate your concept of investing for a property with high-income return. 

Megaworld Envisions P20 Billion Income by 2020

Megaworld Corp. is targeting a rental income of P20 billion by 2020. 

Megaworld Corp (PSE: MEG) has just announced that it’s expecting to make as much as P20 billion in rental income by 2020. It is also close to reaching almost one million square meters of fresh rental inventory as it continues to strengthen its rental portfolio in the country.

Expanding rental portfolio is the way to go

“While we remain strong in our residential condominium business, it is also imperative for us to also fortify our rental portfolio,” Megaworld Senior Vice-President Jericho Go said in a recent statement. “This direction will not only allow us to become a stronger and more sustainable company but at the same time, we address the increasing demand for these spaces in our various townships,” he further explained.

Currently, the company has several townships throughout the country, including Alabang West, Boracay Newcoast, Davao Park District, Eastwood City, Forbes Town Center, McKinley Hill, Newport City, Northhill Gateway, Sta. Barbara Heights, Suntrust Ecotown, The Upper East and Twin Lakes.

To support its ambitious goal, Megaworld has also said it plans to have a total rental space inventory of more than 2.5 million square meters by 2020. This is why the company is aggressive about completing one million square meters for fresh rental inventory in just a span of three years. This will be composed of mostly lifestyle malls, commercial spaces and office spaces, which will be spread across its 22 townships and integrated lifestyle communities. This will allow the company to not just strengthen its position in the market, but make its business more sustainable while addressing current demands. This is especially vital as the company is forecasting significant growth.

More Townships To Come

“On the commercial side, as population in all of Megaworld townships is expected to also balloon to 1,000,000 by 2020, we expect a tremendous growth in consumer spending especially on food, so we are prepared to address that,” Go said. For 2017, Megaworld plans to open several more retail spaces and commercial spaces in the country. These include ArcoVia City, McKinley West, Uptown Bonifacio, Southwoods City, Iloilo Business Park and the Mactan Newtown. Aside from this, the company also plans to open several properties in Makati Central Business District (CBD). Together, these will cover as much as 200,000 square meters of gross floor area.

Megaworld currently boasts of having more than 130 companies in its office rental portfolio. According to a report from Rappler, some of the company’s office tenants include large business process outsourcing (BPO) companies, including Hewlett-Packard (NYSE: HPQ), International Business Machines Corporation (NYSE: IBM), UnitedHealth Group Inc (NYSE: UNH), Wells Fargo and Company (NYSE: WFC) and Accenture ACN (NYSE). Together, these occupy as much as 850,000 square meters of office spaces.  Megaworld also enjoys a high occupancy rate of 99 percent. Meanwhile, its pre-leasing rates for office buildings still under construction have an average of 80 percent.

SOURCE: International Business Times