As a Kagayanon, there’s nothing more fulfilling than going back home and having your own place to live in. And with Cagayan de Oro quickly becoming a favorite among property investors, now is the best time to start investing in CDO real estate and take advantage of the city’s huge economic growth and potential.
In 2017, CDO’s region of northern Mindanao posted an economic growth rate of 5.9%. It is expected to increase further this year with the 2018 target set at 5.5% to 7.1%.
Thus, investing in a pre-selling condominium unit as early as now is like planting a seed in the fertile CDO soil. Buying a unit before it is even constructed can earn you huge savings and give you better returns in the future.
Discover the reasons why investing in pre-selling condos in CDO is a smart investment move:
CDO is on the rise
Considered as the gateway to northern Mindanao, Cagayan de Oro is one of the most accessible cities in Mindanao. It boasts a central location that is close to international land and sea transit. It also has modern telecommunication facilities, cheap but abundant power supply, solid infrastructure, and urban amenities that give the city a vibrant cosmopolitan vibe.
CDO’s business processing and outsourcing (BPO) sector is one of the fastest growing sectors contributing to the city’s economic growth. It is also the 9th most populous city in the Philippines with 600,000 residents, thus producing a demand for quality and upscale real estate properties, the prices of which are set to rise in the years to come.
Pre-selling units cost less than RFO units
Since pre-selling units are not yet constructed and ready for occupancy, expect to pay a whole lot less than finished units. In fact, you get to pay around 30 percent to even 50 percent less, thus giving you a higher returns margin, especially in an emerging prime location like CDO.
Some developers even offer introductory prices, promos and discounts, flexible payment schemes, and lower downpayment to suit your budget, making it easy for you to own a condo unit in no time.
You have better options as one of the early buyers
Another advantage of investing in pre-selling condos is that you can choose the specific unit you want to buy. If you’re planning on leasing your unit, it’s a plus point for renters if your unit is located on a higher floor with a good view or a balcony.
Once the condominium has been constructed, you’ll be left with units that might not bring in as many returns as other better-located units. For instance, those close to power lines or busy highways are much harder to market.
You can resell the unit or have it rented out
With CDO’s real estate market on an uptrend, buying a pre-selling unit has the potential to earn you more money once it’s done. In fact, the value of Avida Towers Aspira Tower 1 has increased by 38% since its launch, so you can resell the unit by more than a third of the price than what you paid for before it was completed.
And if you want to lease your condo, location is key. For instance, Avida Towers Aspira is situated right in the heart of CDO, just within striking distance of schools, malls, hospitals, hotels, and government institutions. The central location serves as an added draw to tourists who are looking to stay in CDO for quite some time, thus helping you earn a steady cash flow.
Investing in pre-selling condominiums requires examining your finances and finding great locations that suit your budget. Avida Towers Aspira, located in an up-and-coming city like CDO, can give you the convenience of modern city living.
Avail of the remaining studio units in Tower 1 for as low as P12,000 per month. And with the soon-to-be-launched Tower 2 at its pre-selling stage, you have more units to choose from.