There are a lot of new condominium projects out there. And you know I mean a lot! They have been sprouting all over the metro and as more and more buildings are built, the projects become less and less enticing.
I said less enticing because as supply increase, logically, demand decrease. Return of investment also decrease and the locations of the property become further away from main developments like shopping malls and main districts. Prices also become too high relative to older projects.
I am not saying there are no more exciting investment real estate projects here in Manila. There is still a handful. One of them is Ortigas And Company's The Connor at Greenhills.
And I have 7 reasons why.
1. BUILT BY A REPUTABLE COMPANY
Ortigas and Company is one of the pioneers of real estate development here in the Philippines. They have been around for 85 years and up to now is still built on the solid foundation of building great places for life. One of their flagships is the Greenhills shopping Center. Greenhills is the most iconic shopping mall on this side of the metro. Another project they have heavily invested to is the Capitol Commons, located in Pasig City. They also have Circulo Verde At Eastwood City. These projects are not just your ordinary real estate developments. These are iconic projects and
You may also read this article on how to spot a good property investment.
2. UNIQUE CONCEPT
I have observed that most developers right now are on a cost cutting in terms of design. They do a "copy and paste ". They copy a design from their previous projects, change the color themes and paste that design to another location and voila! Case in point, if you own two SMDC projects at different locations it will most likely be the same. At the Connor, its design is unique. You will not find any skyscraper similar to its glamorous design. Plus among other projects of Ortigas and Company, it is the only one with a Condotel Concept.
What are the common views offered by condo project here in Manila? Often its either Makati, Ortigas, and EDSA view. But for the Connor, aside from Makati and Ortigas you will have the opportunity to have a view of Wack Wack Golf Course in Greenhills permanently! I can imagine sipping a cup of coffee every morning enjoying the view of rich greenery.
This is probably the best reason why. When it comes to property investing, location is still the number one thing to consider. you are buying a condo and not a house and lot because of convenience that a condo project offers. At the Connor, you are just 5-10 minutes away from Edsa. Unlike in BGC, it takes 1-2 hours during rush hour to get to your home from EDSA!
It also boasts its proximity to key locations like
• ICA Greenhills
• Xavier School
• La Salle Greenhills
• Ateneo School of Public Health and Medicine
• Cardinal Santos
• Medical City
What does this mean? It means this project has a lot of potential tenants coming from schools and Medical Centers. And that makes a good real estate investment.
5. COMPETITIVE RETURN OF INVESTMENT
In Metro Manila, based on the recent study of Zipmatch.com, the rental yield ranges from 6.51% to 7.98%. This is a high rental yield compared to the Asian average of 4.2%. And based on the study, it's stunning that Makati is on the lower end of the spectrum. It only has a 6.94% rental yield, while in Ortigas, Mandaluyong its 7.3%. This means that this location, Greenhills is still very competitive in terms of rental yield and thus in return of investment!
6. Php 50B GREENHILLS REDEVELOPMENT
Ortigas and company is the only property developer that still have this vast land ready for development. It means it still has the potential for the massive appreciation of property prices like what happened in BGC, Taguig. Back in 2010, property prices in BGC, Taguig is priced at around Php 100,000 per sqm and because of the massive amount of investment spent on its development, BGC is now pegged at Php 500,000 per sqm. And it's not far fetched that the new Greenhills Master development will do the same!
7. VALUE FOR MONEY
At the beginning of the article, I have discussed that prices of properties have increased significantly already. But, The Connor is not following that trend ( at least for now). The prices are only pegged at Php 160,000 per sqm. While in BGC, the prices are already hovering at Php 180,000 to Php 200,000 per sqm for luxury developments.
By the time Connor is built, the New Greenhills is being shaped as well and will still remain as the crown jewel of the century old, luxury property developer Ortigas and Co.
Will you be left behind of this golden opportunity?