Another prestige project fully sold

Prestige project: Lakeshore Drive behind SM Premier Lanang / Davao

It is known now  that two condo towers  of "Lake Shore Drive" have been completely sold - even though the  customers have to wait about 5 years to move in. It's about the two residential towers with 21 floors and 354 condos that have views across the sea to the island of Samal. This means for "Suntrust Properties"  a sales revenue of about 2.1 billion pesos. Not bad.

It was a surprisingly good start in the real estate market in Davao and probably the other two residential towers will follow soon.

The attraction is certainly the large artificial lake with jogging opportunities (= eco-tourism), the proposed exclusive restaurants, the school complex and the generous "Davao Finance Center" - a building with 15 floors for offices. Even a small hospital and a church will be built. Everything should be like in Makati / Manila , according to the motto: Live, work, learn and play. "All from one hand”

It is not clear if someone has thought of the new amount of extra cars and the expected traffic problems.  

With best regards

Ludwig from Davao.

Is it worth buying condos in Davao?

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

Megaworld will build a new Makati in Davao

Megaworld will build a new Makati in Davao

Dec. 8, 2014

That it is: A lot is happening in the real estate area of Davao. Now since a month  the preselling is on the way  for the condos in  the 2 condo towers with 21 floors of SunTrust (= subsidiary of Mega World). The address is: "One Lake Shore Drive" and is located next to the SM Lanang Premier in Davao City. Very good place.  Prices range from 1.9 million pesos for a condo with 24 sqm. This means  price / sqm of 80,000 pesos. Prices are similar  to Manila.

At the moment there are  the sales of the condos in the 2 towers. But it is planned  - as in 3 years - that a TOWNSHIP will arise with offices, shops, school and hospital. And with  much quality of life. The model  is Makati in Manila.

Mega World has chosen this huge project for Davao, because in the perspective of the next 20 years Davao  will have the biggest development in trade, business and housing.

With best regards,

Ludwig from Davao

1000 new low-cost condos for Davao

Also PHINMA is building  low-cost condos in Davao

Now it the news have spread  to Manila, Davao that is a good place for real estate. The well-known company PHINMA Realty Corp., which has so far raised many low-cost condo houses  in and around Manila, now has a foothold in Davao.

In the area of Pampanga, this is between Sasa naval port and airport, 9 condo houses will be built with the proprietary modular system with each 5 floors and with 90 Condos in a house  with living space 30-32 sqm (incl. small balcony). The first 2 houses to be ready for move in at April 2015. Around 2016, all the houses will  be built  and then Davao has approximately 1,000 condominiums more.

The prices for the apartments are said at about 1.32 million pesos, which is much lower than from other companies. The equipment should be simple: low cost. The house monthly allowance will be  at  approximately 1,120 pesos, or about 35 pesos per square meter of living space. This is significantly low because  other building companies charge between 60 -90 pesos.

The initiators of PHINMA also believe that Davao is on a huge demand for housing, as it is in Manila at the moment. With a  price of 44,000 pesos/ sqm the company is located in an interesting  low price segment.  Other construction companies will ask  around 70,000 pesos /sqm and more - of course with another, better equipment and higher priced location.

The offer is interesting. 

Best regards,

Ludwig from Davao