Two launch events I attended recently has made me do a double take on the state of our economy. If real estate companies are building more condos and houses, is there hope for better times ahead? Probably. If there’s one belief that has been inculcated on me by other people, it is that you invest in land today with the hope that prices will appreciate in the future. Still have to test if the hypothesis is true, since I haven’t disposed of any piece of real estate to see if substantial gains can be had…or not.
Another real estate assumption is that it is always good to buy at “preselling” rates. This means plunking down your money on a piece of structure that hasn’t been built yet. The good thing is that you get it at the lowest possible price per square meter. The bad thing is that it will remain a “risk” until the structure or unit is finished and is formally turned over to you. The safest way is always to invest in reputable companies, with a portfolio of fully-completed projects. Another advice is to review the contract so that you can actually recover your downpayment when either the project or the company itself goes down the drain due to bankruptcy or some other reason.
One Pacific Place is one such condominium project that is being sold at preselling rates. The property proponents, ACI Group & Cactus Realty, enjoins its target market to invest in a unit today and occupy it by 2011. Two things it boasts about – a good location in Makati’s Salcedo Village and excellent track record of being the company behind Pan Pacific Hotel Manila. Investors can grab studio units now at P1.9 million or so which is not bad for prevailing prices in the prime business area.









