Is it worth buying condos in Davao?
There is a lot of constructions in Davao already and more
are to come in the next year. So it is no longer a secret place to make money.
Many small and especially the big construction companies are pushing to Davao.
First of all there are the big companies, like Ayala Land, Mega World and SMDC.
The buyer can choose from a variety of purchase options.
According to a statement of the company LAMUDI DATA there
are at the moment about 2,400 offers for houses, townhouses and condos. And
who wants to rent, there are about 130
options to choose from.
It is not surprising that in Davao there are a number of
super homes that cost more than 40 million pesos, followed by about 130 deals,
which cost 10 million pesos and more. Most of the offers are well below 10
million pesos. This explains that the average price is around 4 million pesos.
It is also interesting what is the price of 1 square meter of a new constructed condo .
You must spend an average of about 71,000 pesos per square meter. According to
a statement of the company LAMUDI DATA
the possible rent is about 650 pesos per square meter. This means a return of investment of just under 1%. Not much.
One should note that these are average values - but to
compare the offers in Davao it is worth to know these actual numbers.
With best regards,
Ludwig from Davao
