When people say they want to "buy property," the first question I ask is: what type? The Philippine real estate market has several distinct property categories, each with its own pros, cons, and buying process.
1. Condominium Units
Condos are individually owned units within a multi-story building. They're popular in Metro Manila because of their:
- Prime locations (BGC, Makati, Ortigas, Pasig)
- Access to amenities (gym, pool, security)
- Lower entry price compared to house-and-lots
Watch out for: Monthly HOA/condo dues, limited space, and building rules.
2. House and Lot
A standalone home on a titled piece of land. Best for families who want:
- More space and privacy
- Freedom to renovate or expand
- A yard, garden, or garage
Watch out for: Higher price points and more maintenance responsibility.
3. Townhouse
A middle-ground option — multi-story homes that share walls with neighbors, usually in a gated village. Good for urban families who want a house feel without full house prices.
4. Vacant Lot
Raw land with no structure. Great for investors or those who want to build their dream home from scratch.
Watch out for: Zoning restrictions and development timelines.
5. Foreclosed Properties
Properties taken back by banks due to unpaid loans. These can be bought at below-market prices — but require careful due diligence. Title issues can be complex.
6. Pre-Selling vs. Ready-for-Occupancy (RFO)
Pre-selling = bought before construction is complete (lower price, longer wait). RFO = move in now (higher price, immediate use).
Knowing which type fits your lifestyle and goals is step one. I'm here to help you figure that out.
Paulo "Pow" Salud
Facebook Messenger: m.me/514474608756049
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