The young generation is savvier than ever when it comes to investments. According to studies, 54 percent of the Gen Z population are already active investors, with real estate topping the list as their investment of choice.
And as the real estate landscape in the Philippines grows, now is the perfect time for young Filipinos to start thinking about investing in property. Not only are there plenty of opportunities available, but with the proper guidance, anyone can start building their wealth through real estate.
Here are some real estate investment options that every young Filipino should consider:
Buying a condo unit
Condo units are a great way to get into the real estate market. Prices of condo units in the Philippines have been rising in recent years, with 171.8 index points. This figure is expected to grow in the next few years, making condos a solid investment for the long term.
Not only are condo units a good investment, but they’re also perfect for young professionals. Most condos are in the city center, so it’s easy to commute to work or go out on the weekends. Plus, condo buildings have plenty of amenities like swimming pools, gyms, and function rooms, perfect for the young and active.
Depending on your desired ambiance, you can find many condo units around the metro. Suppose you want to see the night lights and stay close to popular hotels and restaurants. In that case, you might want to look for a condominium for sale in Paranaque. This place is home to the famous City of Dreams Manila and Okada Manila, as well as a variety of other dining and entertainment establishments. But a condo in Tagaytay would be ideal if you’re looking for a more laid-back vibe. This city is famous for its breathtaking views of Taal Lake, as well as its cooler temperatures.
Whichever location you choose, make sure to do your research first. This way, you can be sure that you’re getting the best value for your money and that your investment will grow over time.
Investing in a house and lot
Buying a house and lot is always an option for those looking for a more traditional investment. Although prices for homes have been on the rise, they’re still relatively affordable compared to other property types.
It’s a common misconception that you need a lot of money to buy a house. But in reality, plenty of financing options are available, such as bank loans and in-house financing. With these options, you can spread out the cost of the property over time, making it more affordable in the short term.
Another advantage of buying a house is that you have the choice to live in it or rent it out. Renting your property is an excellent option to generate income from your investment. You can charge monthly or daily, depending on your tenants’ needs. And if you live in the house, you can rent rooms to cover part of your mortgage.
Of course, before buying a house, you need to consider the location carefully. Look for an area close to essential establishments like schools, hospitals, and malls. Doing so, you’ll have no trouble finding tenants in the future. Ideally, places like Makati, Pasay, and Ortigas Center are perfect for rental properties since these areas are close to central business districts. As a result, they have a high demand for rental units.
Building a rental property
If you’re looking for a more hands-off investment, you might consider building a rental property. It might be a more expensive option but also more profitable in the long run. You can either manage the property yourself or hire a property management company to do it for you.
A rental property can be anything from an apartment building to a row of townhouses. The key is to choose a location with high demand for rental units. This way, you can be sure that your investment will generate income quickly.
For example, places like Cubao and Quezon City are always in need of more rental units because of the high population density. So if you build rental property in either of these locations, you will find tenants in no time.
However, before you start building your rental property, you must have the necessary permits and approvals. Otherwise, you might run into legal trouble down the line. But once you get everything in order, you can sit back and watch your investment grow.
Investing at a young age is critical to ensure a comfortable retirement. But with so many options available, it can be tough to decide where to put your money. The above are some of young Filipinos’ best real estate investments. With careful planning and research, you can be sure to find an investment that will suit your needs.