Tag archive for ‘property’

How Much Would It Cost to Rent a Condo in Metro Manila By 2019?

by Admin - on Sep 24th 2018 - Comments Off on How Much Would It Cost to Rent a Condo in Metro Manila By 2019?

tall buildings in manilaIf you’re planning to rent a condo in Manila, it may be a good time to close a deal before the end of this year. Colliers International Philippines expects the rates for condo units for rent in Metro Manila to increase between 0.3% and 0.5% per year from 2019 to 2021. The rising demand has been one of the factors for the growth. For instance, Rockwell has had a higher take-up for its property portfolio, according to Colliers.

Property Vacancies

Rockwell’s vacancy for its portfolio improved to 10.3% from 11.3% between April and June, particularly for its Rockwell Center units in Makati City. Expatriates account for a significant portion of the demand, as well as the investors who want to cash in on the strong market.

The minimum price of a luxury condominium in Metro Manila is up to P6 million, so it’s safe to assume a six-figure rental rate for these types of residential units. Take note, however, that the current rates may only continue to increase in the coming months, especially since the demand from Chinese nationals further influence higher property prices.

Demand from the Gaming Sector

Those who are looking for rental properties in the Bay Area should know that leasing rates during the second quarter rose to P1, 500 per square meter, up from P1, 000 per square meter, according to Colliers Philippines Research Manager, Joey Roi Bondoc.

The situation is largely the same in Makati, where properties are consistently more expensive if they are nearer the Central Business District or CBD. Employees of gaming companies from China have fueled the recent uptick, as many of them look for homes near their place of work in Metro Manila.

Individual buyers and investors should decide soon if they still want to rent a condominium in Metro Manila before leasing rates become too expensive next year. Consider a unit in a mixed-use property development where most facilities for work and leisure are not too far away.

5 Pro Tips for Investing in Real Estate

by Admin - on Aug 20th 2018 - Comments Off on 5 Pro Tips for Investing in Real Estate

Couple just bought new houseAustralia has a wide range of residential properties to choose from. From coastal and rural, to town houses and apartments, your options are endless. This is where property development companies come in. They can help you in sorting out which type of property best suits your needs and fancy. Consultants from these companies can give you helpful advice, such as these:

Prioritise familiar markets

You don’t always have to look far to find something good. Start your search with areas you’re most familiar with. This is especially important if you do not have a lot of time for research.

Look for growth suburbs

If you plan to buy property not only to have your own home but to potentially acquire capital gains, investing in growth suburbs is your best bet, says the property management experts at Equire. Growth suburbs are areas which are due for rapid development, as per expert prognosis.

Look for high rental yield areas

Rental yield refers to the price correlation between property value and rent prices. If you are investing, areas where rent is higher than property value would eventually mean capital gain for you.

Look for low-vacancy rate areas

Areas with high vacancy rates are real estate red flags. You should steer clear of these areas, especially if you’re planning to rent out or resell your property in the future.

Research city/suburban planning

Future changes in any area will affect the prices of properties in it. This is why before purchasing property you must research as much as you can on how the area will look like ten or twenty years into the future.

If you have the capital to spend and commitment to spare, residential property investment should be no cause of concern for you. These are the only things you actually need to carry out this decision and to make it work. So breathe in, breathe out, and enjoy the fruit of your labour.

How to Choose the Right Residential Property for Your Dream Home

by Admin - on Jun 18th 2018 - Comments Off on How to Choose the Right Residential Property for Your Dream Home

Couple Just Moved InLocation is one of the key factors when looking for a lot to build your home around Melbourne. Luckily, lots are available with easy access to both the great outdoors and the central business district, like the land for sale in Donnybrook. However, location is not the only thing that you need to consider when choosing a property. You need to think of the neighbourhood, the quality of the services available in the area, the condition of the lot and the availability of reliable builders.  Here are a few tips on what to look for when choosing a lot for your house.

Consider the community

Consider the community where the land is located. What sort of people are moving into the area or already in the neighbourhood? Also, check what amenities are nearby and how they meet your needs. Are you a young family and require close access to a school? Are you the outdoor type that wants cycle paths leading to sporting facilities? Where is the nearest doctor’s surgery, shops and community centre; what is the local transport network like?

Check the condition of the property

Brochures and sales reps can give a glowing review of any property and community. Buying land to build is a big decision, particularly if ready-built houses are also an option. You need to visit the lot before making your final choice to buy ‒ it's always best to see for yourself and check it'll fit plans for your dream home.

You also need to check more practical factors; such as if the lot is connected to a mains water supply, has a reliable source of electricity and a good drainage and sewerage system.

Choose the right builder

Lastly, shop around for a reputable builder to construct your house. A local builder should have good knowledge of the local building regulations, and also be skilled in adapting the design to your requirements. It's always best to ask an expert's opinion of builders in the area.

These are just a few easy steps when buying a lot for your dream home. The better you plan, the less likely unwelcome surprises make your dream home a nightmare to build. 

What is a Break Clause?

by Admin - on May 30th 2018 - Comments Off on What is a Break Clause?

SolicitorA break clause is a provision in a lease that allows the tenant, landlord or both to end a tenancy early in certain circumstances. These can vary widely so it is prudent for parties to seek the advice of a commercial lease solicitor in London to be fully informed about break clauses.

A commercial lease solicitor in London, like Saracens Solicitors, can help tenants negotiate the terms of a break clause when drawing up a lease or to understand the implications if there is one contained within a lease they are taking over.

Pros for a tenant

  • Flexibility – 30% of new businesses fail within the first two years. Losing a business is bad enough, but if someone is then tied into a lease that they cannot get out of, it can drive them deep into debt or lead to a poor credit rating and other financial penalties if they cannot pay. Having a break clause means that they have a chance to escape if the worst happens;
  • Attractive terms for passing on the lease – if someone wants to pass their lease along to someone else, then a break clause can be an attractive selling point. This might happen if their business has failed or because their circumstances have changed.

Cons for a tenant

  • Higher rent – adding a break clause is a financial risk for the landlord in two ways. Firstly, they could end up without a tenant sooner than they would with a fixed-term lease. Secondly, if they want to sell their property, having a sitting tenant with a lease would normally increase the value of the property. If there is a break clause within the lease, this is not the case. For these reasons, the landlord is likely to want a higher rent from the tenant to offset against potential losses;
  • Potential prior conditions – while a landlord may agree to a break clause in order to attract a commercial tenant, they will often set a series of preconditions in order to protect themselves. These should be considered carefully by a commercial lease solicitor in London to ensure they are not too onerous for the tenant. Common conditions include being up to date with rental payments and restoring a property to its original condition.

FHA 221 (d)(4) Financing Explained

by Admin - on Jan 24th 2018 - Comments Off on FHA 221 (d)(4) Financing Explained

business financeEvery business owner knows the importance of investing in their company’s upkeep. A good impression will last a long way. Thus, companies choose to upgrade their offices regularly. If you are in the rental business, such upgrades and investment is also a must albeit a bit more differently.

Renovating your apartment for rent to attract new tenants and increase the value of your property is common. Wanting to have your semidetached property rehabilitated to live more comfortably is also acceptable. However, renovation and construction itself require a significant amount of money. Bonneville Multifamily Capital shares that this is the part where you should consider the Federal Housing Authority’s (FHA) Multifamily Financing, specifically the FHA 221(d)(4). 

What is FHA 221 (d)(4)? 

The United States Housing and Urban Development (HUD) is the guarantor of FHA 221(d)(4) loans. As explained by the HUD website itself, this loan type is the “industry’s highest-leverage, lowest-cost, non-recourse, fixed-rate loan available in the business”.

Such loan types can help insure mortgage loans to moderate to low-income families, elderly, and the disabled who wishes to construct or rehabilitate their multifamily rental or cooperative housing. Aside from the competitive rates, the program also allows the long-term loan of up to 40 years. 

How can you be eligible for such loan types? 

The FHA 221 (d)(4) is designed for rehabilitation of both for-profit and non-profit properties. This includes detached, semi-detached, row, walk-up, and elevator-type multifamily properties. Commercial properties (with limitations) are also eligible. Because the loan is designed to help middle to low-income individuals, single-asset, and bankruptcy remote entities are welcome.

The HUD released a checklist to help potential applicants know whether they are eligible for the loan or not.

Stop putting off that long overdue rehabilitation your property needs. With the HUD FHA loan, you would be able to live comfortably or increase your property value with the help of the government. Make sure to utilize it.

How a Real Estate Agent Markets Your Property

by Admin - on Dec 3rd 2015 - Comments Off on How a Real Estate Agent Markets Your Property

Real Estate AgentWhen it comes to selling properties, price negotiation is a big part of a successful sale. Most people lack the right negotiation skills to make a sale. Your real estate agent does the negotiating on your behalf and helps you maximise profits.

Most agents are skilled salesmen and could easily convince potential buyers to grab a reasonable offer. Your agent also redirects the heat of the negotiation process away from you, enabling you to relax and just wait for the closure of the deal.

Real Estate Agents are Expert Salesmen

A real estate agent is a full-time marketer. This means he is constantly on the lookout for good buyers for your property. This takes away the hassle of searching for a buyer on your own, especially if you have other crucial matters to attend to. Agents also act as great buffers and can easily weed out genuine serious buyers from the ones that are just browsing through. This shortens the process of selling a property.

Professional Networking

Real estate agents have a large network of other professionals. This provides a wide marketing network for your properties. They know where and from whom to get the best deals in your area and so you can get the best deal for a sale. Your agent also has knowledge of the neighbourhood and what is currently trending, advising you accordingly.

Understand Prevailing Market Conditions

Real estate agents have a wealth of experience in prevailing market conditions. They can give you great advice on the laws and regulations that govern the selling of your property. They can also give you key pointers on how to best model your property and any renovations that need to be undertaken so as to get the best price out of the sale.

Smart Investments: Adding More to Your Property Portfolio

by Admin - on Sep 1st 2015 - Comments Off on Smart Investments: Adding More to Your Property Portfolio

Smart InvestmentsAre you thinking of putting your money in an investment with good returns? Stocks and bonds can do the trick, but if you are looking for a less risky way of doing so, real estate may just do the job for you.

The expansion of one’s property portfolio has become increasingly popular in Australia. Whilst it can be a big deal, coming up with a property portfolio can be done by anyone. If you are interested in investing in a property, here are some tips you should look into:

  1. Know the purpose of your investment.

You must have a reason for buying more properties. Apart from that, you also have to be sure with your decision. Check all the underlying factors of your decision. Do you really want to purchase? Are you just looking for an apartment for rent or commercial leasing? Once you get your reason in order, you can move on to the next step.

  1. Look for your desired property.

As Sydney’s commercial leasing professionals of Syd.Mcgees.com.au explain, it is important to know what property you want to buy. Do your homework and research. It does not hurt to ask for professional help as well, so you might want to ask your financial adviser for support. Ask yourself the following questions: Do you want a house? Are you planning to buy a unit?

  1. Determine the right time to buy the property.

Determine when and where to invest. Look into the current state of real estate market. Will it work best if you buy a property now? Which areas should you put your money in? Should you look in major cities, such as Sydney and Melbourne? Are you leaning towards suburban properties? Always gauge your choices to know which is better.

Expanding your property portfolio is a good way of earning more cash. Nonetheless, you have to do thorough research if you want to be successful. Always ask help from the professionals. After all, the experts started from the bottom just like everyone else.