The outlook for real estate remains bright despite the pandemic, however, the “wait and see” attitude of buyers due to the impact of Covid-19 remains a challenge to property developers.
“Although, our market, middle and upscale, is not so much affected kasi a lot of them still have work. But nandoon pa rin ang thinking na that’s ‘hard earned money ilalabas ko ba ito during this time na may pandemic? Or diyan lang yan muna in case tumagal pa itong,” Marlon Escalicas, VisMin head of CoHo (Condo Homes) by VistaLand, told Edge Davao in an interview.
To entice the market, Escalicas said they are now positioning Camella projects in Davao particularly the Condo Homes (CoHo) by Vistaland as investments and income generating properties where unit buyers can earn by opening their units for rent.
“Rental is really very promising. It’s worth your money investing in CoHo because it is located in prime locations. Hopefully that will attract the buyers,” he said in an interview.
CoHo developments in Davao City are The Terraces in Ma-a, The Acropolis in Lanang, The Frontera in Tigatto, Buhangin; and The Evora in Communal, Buhangin which is five minutes away from the Davao International Airport (DIA).
Given its strategic location surrounded by property and key infrastructure developments, CoHo’s premium condominium developments including Northpoint Davao are well-poised to also appreciate in value. CoHo also provides a business opportunity for its privileged investors to grow the value of their money.
Units at Northpoint Davao can be offered for rent too
“That is why it is a good investment because right now our occupancy sa rentals is almost 100 percent in Northpoint and the rates there range from P18,000 to P20,000 a month. Hindi yan daily, sometimes may one year contract,” Escalicas said.
Most of their projects are located in the prime locations of Davao City, Butuan City, Cebu City, Palawan, and Bacolod City and these make their projects attractive to investors. “These are prime locations, tourist destinations, business centers and chances are people converge in the cities and they would need a place to stay for few days or months. Most of our projects are strategically located at sinasabi namin sa buyer na if you get a piece of these islands which are very prime but at the same time you have an investment. When everything will be normalized, puwede ka mag-bakasyon in Palawan or Cebu in Davao may condo ka doon but in times na hindi ka nagba-bakasyon, you can have it rented and you are earning. Even sa Camella it is the same ang mga houses ngayon are being rented for AirBnB na rin.” He said unit owners whose units are available for rent can be managed by Camella’s own leasing service called Vista Leasing. Maintaining the units is not a problem because the company has its in-house housekeeping service Happy Housekeeping.
“We have our own leasing service that will manage your property kugn wala ka. You just pay certain fee, ang tao na namin ang maglilinis. It will be operated like an AirBnB so deposit ng deposit na lang sa account mo. Ikaw nandoon ka lang sitting pretty but your investment is returning,” he said.