The naked fact is that people buy into a property for their value. Given that practically every piece of real estate project in the market promises distinct features and advantages, it still boils down to the value one gets in the long haul.
Really, that makes sense.
The naked fact is that future homeowners and investors are buying into residential condominiums of the 33-level Aeon Towers project of FTC Group of Companies for its high-yield investment and value.
Interest in the Aeon Towers property have generated sales from domestic as well as foreign clients and OFWs who view the project as either a high-yield investment or valuable property asset.
Now, we’re really making sense here.
Trends will bear out the fact. Ask FTC Group of Companies president and CEO Ian Y. Cruz and he will readily bare to everyone that many of Aeon Towers’ clients are interested in the high yields they can get for owning a part of the much-anticipated project.
“They’re looking at putting their money down here and just sit on the property and enjoy high yield for the asset,” he said.
A considerable number of units in the Aeon Towers project are owned by overseas-based clients.
“They’re looking to get higher returns on their money. That’s an interesting trend for us in the real estate development business,” he said.
While foreigners are not allowed to own land in the Philippines, they can own condominium units subject to conditions of the Condominium Act.
Cruz said he sees healthy demand in Davao’s real estate market.
Aeon Towers is the initial venture of the fledgling Davao-based real estate development firm. Despite being new in the market, FTC Group of Companies have sold out almost all of the units in the prime real estate building located along J.P. Laurel Avenue where most of Davao’s prime condominium properties are located.
According to Cruz, a strong growth in the economy means healthy demand for the real estate market.
According to experts in the real estate business, where there is a strong economic growth, the real estate market is also on the upswing.
It also helps that the Philippines currently has a stable interest rate.
There is also a sizeable market from young families or the so-called baby boomers.
Experts say that when there is an affluent economy, young people move out of the family home earlier, creating more demand for the housing market.
This is partly the reason why young families, along with OFWs, are emerging as the top buyers of condominium units.