DMCI’s Ohana Place
WHATEVER YOUR reasons for buying a condominium, it would surely be one or all of these: an advantageous location and affordability. Inquirer Property conducted a quick survey of property experts and several developers of various market interests and market ranges to find out what their take on these two reasons.
Affordable areas for condos can be found along the fringes of Makati City, Sucat in Parañaque City, Alabang in Muntinlupa City, Quezon City and Mandaluyong City.
Jose Mari H. Banzon, executive vice president and general manager of Federal Land, said affordability is a function of a buyer’s cashflow. Therefore, a condominium becomes affordable if the buyer can comfortably meet the monthly payments.
He said that such condominiums (affordable units) which are located near central business districts (CBDs) are available along the fringes of Makati such as Chino Roces Avenue, on Pioneer Street in Mandaluyong, in the fast-rising reclaimed area on Macapagal Avenue and selective projects in Fort Bonifacio.
Alejandro S. Mañalac, National Real Estate Association board vice chair and Century Properties Inc. senior vice president, said getting a condo will always depend on one’s need or reason. However, in terms of affordability and environmental friendliness, there are some projects in the fringes of CBDs but still easily accessible to public transport.
He said DMCI has several affordable projects, “which also take pride in maximizing natural lighting and ventilation.”
Mañalac also cited Phinma, which has a project between Sucat and Alabang at very affordable prices and eco-friendly features.
Low-pollution environment
FIRST HOMES’ Aurora Heights
First Homes, he revealed, is offering the Aurora Heights at the LRT terminal in QC in a relatively low-pollution environment. Being outside but just along the fringes of the CBDs, these projects offer relatively lower prices per square meter.
First Homes is competitively priced at P83,000 to P85,000 per sq m.
Phinma, which is being touted to offer quality affordable condominiums, sent to Inquirer Property its current projects: its Asya Enclaves Alabang located in three sites. The one at Km 19 West Service road has a 30-sq-m livable area and a price (net) of P1,290,000 (at P43,000/sq m). Its Muntinlupa City project at 36 sq m has a price (net) of P1,566,000 (P43,500/sq m); The project beside Hillsborough Village at 40 sq m has a price (net) of P1,800,000 at P45,000/sq m. All are of standard finish.
Phinma’s Arezzo Place Pasig to be launched in November is located on Alfonso Sandoval Avenue with a 30-sq-m livable area at P1,050,000 (P35,000/sq m) and Pasig City (prices and livable area yet to be determined).
Phinma’s Solano Hills are located in two areas: Sucat, Muntinlupa at 36 sq m has a price of P1,944,000 (P54,000 per sq m). These are one-bedroom (upgrade finishes) units; Beside Southbay Village to be launched in October 2011 has 40-sq-m livable area at P2,160,000 (P54,000/sq m). It has two-bedroom units with upgrade finishes; 54 sq m at P2,916,000 at P54,000/sq m (3 bedroom, two toilet and bath units with upgrade finishes). The 58 sq m is priced at P3,132,000 at P54,000/sq m (three bedroom, two toilet and bath units with upgrade finishes).
According to DMCI, its locations and prices are: on Coronado Street, Mandaluyong City at P1.6 million to P8.49 million; Reliance Street, Mandaluyong City at P1.96 million to 5.72 million; Taft Avenue, Pasay City, which ranges from P1.8 million to 4.3 million; Bicutan, Parañaque, with price range of P1.8 million to P6.5 million; and Muntinlupa City, which ranges from P2.1 million to P4 million.
ALVEO Land’s Lerato
Centrally located; in the middle of everything
Rouen Abel Raz, vice president, sales and marketing of Robinsons Land Corp, said Mandaluyong and Ortigas areas appear to be the two top locations for condos as they are centrally located. Both are in the middle of everything. This is the reason most developers have set their projects in the area. Of course, condos at The Fort and in Makati CBD continue to attract buyers, but one must also consider that prices in these CBDs will not go lower than P100,000 per sq m.
Close to key destinations
Do you have to live in prime locations? If you do, then Bobby Dy, Ayala Land senior vice president and head of the residential business group, has the answer.
“The first step is to evaluate the characteristics of the best locations. Basically these are near a prime location like a CBD such as BGC or within Makati but it’s not just about being within the CBD that’s important, as there are many locations to choose from within a city itself,” he said.
A good location is what is defined by what you are near to: how close you are to key destinations, like prime offices, major retail areas that will satisfy multiple shopping and recreation occasions, schools and places of worship. How convenient is the location to access key roads and networks of public transport? Are there special features near the location like open spaces and parks or support retail that will make living in your condominium more pleasurable? When you think of it this way, the choices narrow significantly. When you evaluate locations based on this criteria—condo purchases in Makati like Ayala Land Premier’s Park Terraces, Alveo’s Lerato or Avida Towers’ San Lorenzo and Makati West all pass those tests—and in BGC you also have the variety of choice with One and Two Serendra from Ayala Land Premier and Alveo and Avida Towers in BGC.
For diverse daily destinations, get transport-oriented condos.
If family members residing in your condo have diverse places of work or school, it would be ideal to go get a condo that’s accessible to public transport.
Aside from offering easy access to the MRT/LRT2, Megaworld’s assistant vice president for marketing communications Rommel Orbigo said his company’s project offers the best value for money in terms of price per sq m and proximity to CBDs and mini CBDs.
“Eastwood City, McKinley Hill and Newport City have their own office components or mini-CBDs based on Megaworld’s proven Live-Work-Play formula, while Forbes Town Center is within Bonifacio Global City (which has its own CBD) and Greenbelt Hamilton is within the Makati CBD).”
Orbigo said the price per sq m for the projects are: Manhattan Heights, Manhattan Garden City, P93,000; Eastwood City—Eastwood LeGrand Tower 3 is P96,000; McKinley Hill—The Venice or Viceroy is pegged at P94,000; Newport City—150 Newport Boulevard is P101,000; Forbes Town Center—8 Forbes Town Road is P116,000; Makati—Greenbelt Hamilton, P116,000. Megaworld subsidiary Empire East offers the following mid-income, transit-oriented projects like Pioneer Woodlands, P90,000; San Lorenzo Place, P97,000; Little Baguio Terraces, P82,000.