When it comes to buying a new home or investing in property, a residential condominium can be a great option. Not only do condos offer security and amenities for families and individual dwellers, but they also have the potential for high-value appreciation and provide self-sustaining investment through short-term and long-term unit rental for investors.
However, with so many options available, it can be difficult to choose the right condominium development. To help you make a decision, here’s a checklist of key considerations to keep in mind when purchasing a condominium.
Location. Location. Location.
When considering purchasing a condominium, location is an important factor to consider. If you’re planning to use the unit as your primary residence, it’s important to ensure that it’s easily accessible to key developments such as schools, hospitals, commercial establishments, and transportation hubs. This will ensure that your daily needs are met with convenience.
Additionally, purchasing a condominium in a prime location, such as in central business districts or township developments, not only offers convenience but also has the potential for high property appreciation. This makes it a highly attractive option for potential renters if you’re purchasing it as an investment.
For example, MidPark Towers is a luxury residential development located in Aseana City, Parañaque, which is considered as one of the fastest-growing CBDs and next-generation cities in the metro. The development is well-connected to public infrastructures such as the NAIA Expressway (NAIAx), LRT Line 1 Extension, and the Paranaque Integrated Terminal Exchange (PITx) making it a transit-oriented development. It’s also within walking distance to large-scale mixed-use developments such as Ayala Malls Manila Bay, City of Dreams Manila, Solaire Resort and Casino, and the Mall of Asia Complex.
Safety and Security
Another important consideration when purchasing a condominium is safety. Residential developments within a master-planned community typically offer ample security features for residents and guests. For instance, MidPark is located in Aseana City, which has 24/7 on-ground security personnel and is equipped with an Integrated Operations Center (IOC). The IOC is designed to manage complex city environments, incidents, and emergencies with a city solution that delivers operational insights.
Spacious Residential Units
When looking to buy a condo, having ample living space is crucial. With the rise of hybrid work arrangements, having a dedicated work area within your home is more important than ever. A spacious condo allows for the creation of a comfortable home office, without sacrificing room for your family to relax and spend time together.
MidPark Towers offers a variety of residential options, including Studio units as small as 40 sqm, and one-bedroom units at 52 sqm, perfect for individual dwellers or starting families. For growing families, larger options include two-bedroom units at 80 sqm, and three-bedroom units at 120 sqm. These spacious units make MidPark Towers an attractive choice for both investors and families.
Exceptional Amenities & Property Management Services
Buying a condo unit is only the beginning, the ultimate goal is to fully enjoy and make the most of it. One of the major benefits of owning a condo over a house is the access to a variety of amenities that can be used and enjoyed easily. These amenities usually include outdoor swimming pools, fitness gyms, function rooms, and functional open spaces. Some real estate developers go above and beyond in their condominium projects by offering additional amenities like business and private lounges, and kid’s playrooms. These extra amenities are available at MidPark Towers, making it an ideal choice for those looking to change their scenery and have a quiet space to work or read while providing a safe place for kids to play and have fun.
When buying a condo unit, the property management services offered should not be overlooked. The purchase of a condo unit is not the end of the journey, having an exceptional property management team in place is a critical factor that should not be ignored. A dedicated and professional property management team is responsible for maintaining the upkeep of the condominium, ensuring that your home is well-maintained and of high quality.
High Value Appreciation
When considering purchasing a condo as an investment, it’s essential to select a property that has the potential to appreciate in value. The main factors that drive the appreciation of condominiums are location, developer, and product quality.
One important factor to consider is the location of the property. Being situated in a master-planned community has the potential for high-value appreciation. It’s also essential to check for existing and upcoming public infrastructure and transportation projects in the area, as this can help boost the value of your property in the future.
Another important factor to consider is the reputation of the developer. Knowing the track record of the developer can help you identify their capability to provide quality products to their clients. MidPark Towers, developed by Aseana Residential Holding Corp., the same developer behind Pixel Residences, a mid-rise condominium located inside Aseana City that was recently awarded as the Best Completed Condo Development in the 2022 Philippine Property Awards.
In addition, the real estate industry in the Philippines is currently seeing an uptrend performance, even amidst current market volatility. Studies by Colliers Philippines, a real estate and investment management company, show that the economy grew by 7.8% in the first three quarters of 2022, ahead of government targets of 6.5% – 7.5%. The demand for pre-selling condos is gradually recovering, in particular, mid-income and luxury residential projects are likely to remain resilient. Employees returning to traditional office spaces fuels the demand for condos for lease in key business hubs.
Moreover, Property prices continue to rise. According to Bangko Sentral ng Pilipinas’ latest Residential Real Estate Price Index (RREPI), nationwide residential property prices rose by 2.6% compared to the same period a year ago. In the capital region, condominium prices have grown by 8.4%. Historically, property values appreciate over time – from 2017 to 2021, condominium prices in NCR have grown to an average of 31.96% year on year.
In conclusion, all signs point to now being a good time to purchase and invest in condominiums. Aseana Residential Holdings Corporation’s (ARHC) MidPark Towers is in its pre-selling stage and is set to provide your luxurious needs by 2025.
For inquiries, you may contact (+632) 8805-2501 or inquiries@midparktowers.com. You may also visit their website at www.midparktowers.com and www.dmwai.com for more information.
