CEBU, Philippines – Real estate remains to be one of the largest investments available, however investing on property can also become a debt trap for some people.
Several property investors are also seeking ways on how they can earn from the property they own.
One option for investors is to earn from rentals, noted Lawyer Dennis R. Quiokeles, the executive vice president and general manager of Pacific Land Ventures & Property Development, Inc.
This is especially advisable for condominium owners who want to make money while they are paying the amortization costs of their properties, Quiokeles said.
“Just simple, one way is they are going to lease out the property of not less than 15 to 20 thousand pesos,” the manager told reporters in an interview.
He explained that, for instance, if an owner is owing an amortization of P8,000 a month he can still have an additional income of P7,000 if he’s renting out the property at P15,000 per month.
“You can gain a disposable income. That’s the easiest way to demonstrate how wide it could be as an investment,” he further added.
Aside from property leasing, taking advantage of the increased property value and business operations are another two means to maximize profits in real estate.
Meanwhile, with a number of condos and other real properties currently constructed in Cebu, very tight competition among developers is quite inevitable and is a very big industry challenge.
And for Quiokeles, maintaining to be fully transparent to the market is what always matters to gain the trust of the people and survive the competition.
It’s a fact that most Cebuanos have the so-called “sulit” mentality, he emphasized, and that developers must always be honest in their construction methods and financing arrangements to their potential clients.
“You should offer tremendous value,” he said, urging other developers to stop pretending that the buyers don’t know the current condition in the market as they normally research and want to know about it.
On the other hands, Pacific Land Ventures & Property Development, Inc. had the groundbreaking yesterday for its two-tower residential condominium project, The MIDPOINT Residences. The first tower of the 800 million project is expected to be completed in July 2017.
The condo will rise at Ines Ouano Road, A.S. Fortuna St., Banilad, Mandaue City. For his part, Barangay Banilad Councilor Greg Yap, who graced the event, expressed that the local officials hope the project can become a good investment in the locality. (FREEMAN)None found.