Federal Land and the ready-for-occupancy market at BGC
Grand Central Park in BGC is a master-planned community patterned after the dynamic New York City.
If you ask any real estate broker, they’ll assure you that BGC continues to be one of the most in-demand, fast-developing areas within Metro Manila. Thanks to its proximity to so many of the new corporate addresses of the more desirable employers, the demand for residential options is strong. From the upper-middle to the triple A market, a BGC residential unit is the dream address one aspires for.
As one of the leading real estate developers in the country, Federal Land can proudly claim that over its 48 years, it has established an enviable track record of delivering high-quality developments and building dynamic communities in prime areas and key cities. So it’s no surprise to find that within BGC, there are a host of Federal Land properties that meet the approval of any discriminating and discerning eye.
In fact, in the ready-for-occupancy (RFO) section of the market, Federal Land can offer the options of Central Park West and Park West. For professionals and families, these RFO offerings are proving to be very popular, as they allow for mobility and immediate gratification.
As a trusted developer, these Federal Land properties guarantee project features, benefits, and amenities that will pass the stringent standards and budget considerations of these niche home-seekers.
Before we go into these two developments in detail, let’s recognize how these RFO units have steadily gained in popularity over the years for the investing sector of the market. As opposed to the pre-selling units, these RFOs are tangible assets that you can gain from in two ways — first, through the rentals that can give you an additional monthly income, and secondly, through capital gains, as the prices of these condominiums have seen to appreciate over time. But be wary, this is not on a perpetually escalating basis, and one should also know when to let go and reinvest.
Based on Colliers Philippines, at the end of 2020, 14,879 condo units were classified as RFOs, out of the remaining inventory of 42,521 here in Metro Manila. So when electing to choose an RFO, whether as a passive investor or as an end-user, make sure it’s in a strategic location, near essential establishments and services, that it’s a well-built structure with choice amenities. Besides being the ideal home for you, it should not only stand the test of time, but also be an ideal home for others. This is looking long term, and that as you upgrade or relocate, the investment will still prove rewarding for you as someone renting the unit out.
There are several smart choices to make here, and let’s bear in mind that the Philippine real estate market has managed to remain resilient in spite of the pandemic. Global Property Guide reported that the estimated rental yield for a 120-square meter residential space in Metro Manila, with a buying price of P23.5 million and monthly rental rate of P120,000, stood steady at 6.13 percent despite the challenges of the pandemic.
Read more: Manila Bulletin