How to Know If You’re Investing in the Right Condo
With the continuous surge in condo developments, now may be a good time to invest in real estate. Prices are at their most competitive, and the wealth of options currently available allows you to scout around and make the most informed decision possible by weighing your choices.
However, an overwhelming variety of options also means that your investment could yield very variable results. How can you make sure, then, that you’re putting your money into a property that is worth the investment?
We asked Emmanuel Jason Lao, a 38-year-old businessman in the hotel industry who recently purchased property at Proscenium at Rockwell, to share insights on what makes a condo a good investment.
Worth it: when it comes to property investment, location, security, and exclusivity are important factors to consider, according to entrepreneur Jason Lao.
Location is still the rule of thumb
“As an entrepreneur in the hotel industry, location and security are paramount to me,” Lao says. “Hence, the major indicator to identify that a particular condominium is worth investing in my opinion as the old saying goes, ‘Location, location, location.’ If a condominium is situated in a very secure area and is near or in a CBD that has high foot traffic volume, then it is bound to appreciate in value.”
In fact, according to Colliers as reported by Entrepreneur Philippines, “the Makati business district showed the highest growth rate of 92 percent from Php123,000 per square meter in the first quarter of 2013 to Php235,600 per square meter in the first quarter of 2018.”
Exclusivity is a major selling point
When asked why he didn’t opt for other developments in similar areas, Lao explains that it was the property’s exclusivity that swung the decision. “At the end of a productive day, you want to be able to relax in a secure and private sanctuary with lots of amenities at your convenience. You can just walk around the community safely to do all your business transactions, errands, and leisure activities.”
Designed by world-renowned architect Carlos Ott, Proscenium at Rockwell has five residential towers and state-of-the-art-amenities that include a business center, daycare, and Performing Arts Theater.
Lao’s investment gives him access to Proscenium’s own Performing Arts Theater designed by world-renowned architect Carlos Ott, the business center with fully equipped meeting rooms, a helipad, and an open amenity deck complete with landscaped gardens, outdoor tennis courts, swimming pools, and gazebos. There’s also the option to dine at the towers’ rooftop bistros on romantic evenings. And this is all within Rockwell’s exclusive community.
Opt for a trusted developer
According to Lao, real estate is one of the areas where it pays to be brand-conscious. Every developer is different, and that speaks volumes about your investment’s current and future value.
“Invest in an established brand to assure the future, quality, and maintenance of the property,” he says. “It has a good community, is well-secured and is well-maintained.”
A brand’s quality doesn’t just extend to the property itself, but to the service you receive as well. “With Proscenium, for example, the excellent Rockwell Sales Team and After Sales Team were very accommodating and they made all my transactions easy.”
Always think of tomorrow
When investing in real estate, you need to make sure that your money goes to a property with the potential to increase in value, and that means looking into the story behind the development alongside its other, more obvious qualities.
According to Lao, investing in one of the last premium condominiums in Makati CBD is a good decision, businesswise. “The law of supply and demand states that if the supply is scarce and the demand is high, then price will only go up. It’s better than parking your money in the bank,” Lao shares.
That appreciation, he says, is something that will only continue to benefit his family for years to come. “I think the major advantage is that I am able to invest and keep my investment in a secure real estate asset that will appreciate over time. At least I will already be sure to leave something to my daughter in the future.”
Understated elegance: The Proscenium Residences’ model unit at the Power Plant Mall.