Welcome to the third edition of Township Tales! This series of articles features different individuals who were able to experience the life-changing LIVE-WORK-PLAY-SHOP integrated lifestyle of Megaworld Corporation’s world-class townships.
Everyone dreams of owning a condominium unit in their twenties. But how does one actually do it? Between paying for monthly equity and saving up for the future, owning property at this age might prove to be a challenge. With the right investment, however, it can be done. The National Chairman of the Philippine Association of Real Estate Boards (PAREB), Dr. Samuel Lao stated:
“…young professionals with a salary ranging from PHP 15,000 to PHP 20,000 can afford an economic condominium unit which costs between PHP 1.2 to PHP 1.6 million.”
Like most people in their twenties, Ivan Enteria felt nervous when he first bought his condominium unit in Morgan Suites Residences, Taguig City back then. He had been working as an OFW in Malaysia at the time when he found an opportunity to invest in a studio unit in Megaworld’s largest township development in Metro Manila, McKinley Hill.
“Pikit mata ako nung kinuha ko yung unang unit ko in McKinley Hill. Back then, everyone was telling me to get a house, but I told them that getting a condo was a much better investment.”
(I took a risk when I invested in McKinley Hill. Back then, everyone was telling me to get a house, but I told them that getting a condo was a much better investment.”)
Now in his early 30s, a senior designer in Malaysia and the founder of IE Builders, Ivan owns three units in Morgan Suites Residences, Venice Luxury Residences and The Viceroy, respectively, which he rents out for staycations, parties and prenuptials while he is out of the country. He plans on keeping his three luxury condo units in McKinley Hill, in case he decides to move back in for good.
In this edition of Township Tales, we talk to Ivan about his experiences as a Filipino working abroad, his dreams of starting a real estate empire and why it’s never too early to secure a good investment.
Why did you choose McKinley Hill?
(View of Venice Grand Canal Mall along Campus Avenue, fronting the Enderun College.)
“Gusto ko yung diversity of design elements sa McKinley Hill. There are surprises at every turn. Hindi ka magsasawang tumingin sa painted walls o sa Italian-inspired architecture.”
(I love the diversity of design elements in McKinley Hill. There are surprises at every turn. You won’t get tired of looking at painted murals and the Italian-inspired architecture.)
Inspired by the cities of Italy and Spain, McKinley Hill’s distinctive facade proudly stands out against the backdrop of Metro Manila. Traces of European design can be seen in the township’s picturesque courtyards, luscious gardens and soaring structures which shape the skyline of Taguig. The Venice Grand Canal Mall in Upper McKinley Road offers a taste of Italian culture with its famed Gondola rides, varied foreign cuisine options and grandiose Venetian art.
McKinley Hill is strategically located just minutes away from key business districts like Makati and Ortigas which are accessible via Kalayaan flyover and C-5 Road. The township provides everything one might need for a holistic lifestyle. Landmarks such as the Venice Grand Canal Mall, St. Luke’s Medical Center, S&R Membership Shopping, the Uptown Mall, the British Embassy and nearby international schools are all within reach. Residents live in close proximity to the country’s top Business Process Outsourcing (BPO) offices in the township’s PEZA-accredited cyber park. And it doesn’t feel cluttered or chaotic.
“McKinley Hill is located near the airport, so sobrang laki ng potential niya for growth. The community is alive and thriving. Magkalapit lang yung bahay mo sa opisina kaya feel mo yung convenience. During rush hour, sobrang convenient para sakin yung in and out ng McKinley (Hill).”
(McKinley Hill is located near the airport, so there’s some potential for growth. Residences are conveniently built close to office buildings. During rush hour, it’s easy to travel in and out of McKinley (Hill).)
One of the key features of McKinley Hill’s township is accessibility. The township provides alternative routes to major thoroughfares, enabling residents to slip through traffic during peak hours. For residents who prefer commuting, there are a variety of transportation options like jeepneys, shuttle vans and buses, that lead in and out of McKinley Hill.
What is your favorite place in McKinley Hill?
(Morgan Suites Residences from street level.)
“My favorite place in McKinley Hill would have to be Morgan Suites. Ito ang condo na nabubukod tangi na may rooftop pool sa McKinley. Sobrang ganda niya during sunset. Pwede siyang puntahan kung gusto mo mag-isip-isip or when you want to spend time with your family or friends.”
(My favorite place in McKinley Hill would have to be Morgan Suites Residences. This is the only condominium in the entire township that has a rooftop pool. The view from up there is magnificent. Especially during sunset. You can go there to clear your mind or spend time with your family or friends.)
Morgan Suites Residences is among the first residential projects in McKinley Hill. This vibrant three-tower condominium is nestled in McKinley Hill’s sprawling and dynamic township community. From Morgan Suites, residents can take a leisurely stroll along McKinley Hill Village with its fleet of Mediterranean-style houses, lush greenery and rows of high-rise condominiums. The presence of international schools and embassies in the area makes Morgan Suites Residences an ideal place to raise a family.
What did you see in McKinley Hill that made you invest and decide to settle there?
“Nung nakita ko yung master plan ng McKinley Hill, one of the factors na nakapagdecide sa’kin na bilhin ang condo ko sa Morgan Suites was the amenities. Pagbaba ko lang ng condo, pwede ko nang puntahan yung Venice Grand Canal o maglakad-lakad sa McKinley Hill o Uptown Bonifacio na malapit lang. Paglabas mo naman ng McKinley, para kang na sa isang village tapos dalawa lang yung entry and exit points. Yun ang nagustuhan ko dito. Secured ako kasi may mga guards kaya pwede kang maglakad kahit gabing-gabi na.”
(When I first saw the master plan for McKinley Hill, one of the factors that led me to invest in my first condo, was the amenities. The Venice Grand Canal, McKinley Hill and Uptown Bonifacio nearby is just a walk away from Morgan Suites. When you go out of McKinley, it feels like you’re in a village because there are only points of entry. That’s what I liked about it. You feel secure because of the traffic marshalls roaming around. You can safely walk around the township at night.)
What do you look for when buying a condo unit for investment?
(Ivan’s condominium unit in Venice Luxury Residences gives off a warm and welcoming atmosphere with its mix of modern furniture, house plants and keepsake decorations)
“Inaalam ko muna yung dami ng units sa isang floor bago ako mag-invest. 15 (units) is the ideal number. Since investments ang target ko, I go for studio units. Kasi for me, fast selling yan pag pinarentahan ko. Marami sa guests ko ay single o magkakaibigan. Yung iba gusto lang magstay dito kasi malapit sa airport.”
(I want to know the number of units there will be in a floor before I invest. 15 (units per floor) is the ideal number. I personally go for studio units, since they are the easiest to rent out. Most of my tenants are single individuals or groups of friends. Some like to stay here to be closer to the airport.)
Before investing in a unit, serious buyers should look into a condominium’s density. Some condominiums can have 25 to 60 units per floor. When a project has limited floor and lot size, the units tend to be smaller. That is why Ivan suggests investing in residential condominiums that have a lower density. With only 15 units per floor, residents get to enjoy the exclusivity of living in a spacious condominium.
Banks and home loan institutions like PAG-IBIG can help young upstarts secure a home for themselves. The latter now accepts loan applications from combined income sources of family members. Acccording to PAREB National Chairman, Dr. Samuel Lao: “Those with combined income of P30,000 can have a monthly amortization of P12,000 so it is really possible to buy a property.”
Property developers like Megaworld offer pre-selling packages for buyers who want to get a head start on their investment. During the pre-selling stage, units are sold at a lower price. But, that rate accelerates in value as the condominium nears its completion. Buying a unit in its pre-selling project development stage lets buyers take advantage of the project’s more affordable pre-launch prices.
Towards the North of Metro Manila, buyers might want to invest in Chelsea Parkplace, Megaworld’s 12-storey residential condominium in the city of San Fernando, Pampanga. The project is currently in its pre-selling stage. The turnover is at 2022.
What made you decide to rent out your unit/s?
(Ivan added pops of yellow, green and orange to make his studio unit feel even more homey)
“Dream ko talaga maka-acquire ng 30 properties bago ako mag 40. Yun ang naging motivation ko sa pag-iinvest. Pag real estate kasi, long term investment yan. Sobrang secure ka pagdating ng panahon.”
(My dream is to acquire 30 properties before I turn 40 (years old). That became my motivation to invest. With real estate, it’s a long-term investment. You can be financially secure when the time comes.)
Since OFW ako, hindi ko din matitirahan yung mga condo na binili ko. That’s why I chose to rent them out. Kahit wala ako sa Pilipinas, meron akong properties na nagbibigay sa akin ng steady income. Kapag nagdecide na akong umuwi, pwede kong i-convert yung condo ko into a residence for my family. Kung hindi naman, pwede ko siya ipa-rent for prenuptials, birthday shoots or surprise parties.”
(As an Overseas Filipino worker, I don’t get to live in my own condo units. That’s why I chose to rent them out. I get to earn from my investments even when I’m not around. If I ever decide to come home, I can convert my condo into a residence for my family. Otherwise, I can rent them out for prenuptials, birthday shoots or surprise parties.)
What was your lifestyle before and how did it changed when you moved in to McKinley Hill?
(The rooftop of Morgan Suites Residences is where Ivan goes to relax and meditate.)
“10 years ago, I dropped out of college but then I got an opportunity in Malaysia. Nagkaroon ako ng trabaho and I started from the bottom. Mag-isa lang ako sa Pinas kaya ako nag desisyon pumunta ng Malaysia. Tapos sinabi ko sa sarili ko, ‘I have a dream, I have a goal, kaya kahit nag-drop out ako, I’ll become someone pagdating ng panahon’. Nung naka-accumulate na ko ng mga bagay bagay, after 5 years, nagisip ako ng mga investments, from property to stocks. I’m trying to secure a future for myself. Gusto ko na merong pinutuntahan yung ipon ko.
Kailangan kong maging stable sa sarili ko. Di ako pwedeng bumili ng bahay kaagad kasi wala akong pangsuporta dun. Kapag may gusto akong bagay, kailangan meron susuporta na ibang bagay…”
(10 years ago, I dropped out of college but then I got an opportunity in Malaysia. I got a job and I started from the bottom. I was alone in the Philippines at the time which influenced my decision to work in Malaysia. I said to myself. ‘I have a dream, I have a goal, even though I’m college dropout, I’ll become someone in the future.’ After 5 years, I accumulated enough resources to invest, from property to stocks. I’m trying to secure a future for myself. I need to be financially stable. I can’t just buy a house without the necessary support. If I’m going to invest in something, I need the financial backing to make it possible.)
Do you see your future self settling for good in McKinley Hill?
“Gustong gusto ko sa McKinley (Hill). I like to buy properties na dinevelop ng Megaworld. Kasi they care about giving you a holistic lifestyle. Baba ka lang, may mall na tapos ‘di lang siya basta bastang mall. Thematic siya. Hindi typical ang amenities dito.”
(I really like it in McKinley. I like to buy properties that are developed by Megaworld. Because they care about giving you a holistic lifestyle. They don’t just give you a mall. They give you a thematic one. The amenities here aren’t ones you can find anywhere else.)
Do you think people with the same age as you should invest in real estate?
“Oo naman. It’s about time na mag-invest sila. Mag-invest habang maaga pa kasi yung value ng property tumataas.”
(Yes, of course. It’s about time young people invested. It’s best if they invest early since property values keep on rising.)
In a report by Megaworld Corporation, McKinley Hill is among the top real estate destinations in the Philippines. With approximately 36 premier condominiums and a 10-hectare resident village, investment values of the township have risen over 228% in the past 10 years.
Would you recommend Megaworld’s townships to them as an investment?
“Oo, ibang klase eh. Etong McKinley (Hill), maganda yung location niya. May residential at commercial spaces. Hindi siya magulo. Kahit katapat mo lang office mo, you don’t feel like you’re in the business area. Ang ganda ng transition niya. The township is very walkable.”
(Yes. It’s unique and the location is great. There are residential and commercial spaces. It’s not chaotic. Even if you live next to the cyber park, you don’t feel like you’re in the business area. The township transitions smoothly between residential and commercial. It’s very walkable.)
Residents of McKinley Hill get to enjoy the perks of living in a master planned township community along with its vibrant residential blocks, towering condominium units and modern lifestyle facilities such as gyms, pools and jacuzzis. Megaworld’s LIVE-WORK-PLAY-SHOP signature concept is embodied in McKinley Hill, from its Grade-A office buildings to its wide walkable spaces, which feature great works of art from Gerry Leonardo, Ben-Hurr Villanueva and Jerry Araos. The Italian-inspired buildings complement the cityscape and give it character.
What advice can you give to those who want to invest early?
“Do your research. Alamin mo kung convenient ba yung location para sayo. Pasok ba to sa lifestyle mo? Malapit ba siya sa trabaho mo? Safe ba dito? Tahimik ba dito? Accessible ba? Yun ang mga dapat tanungin mo. Mahalaga din yung amenities. For example, gusto mo yung rooftop pool sa Morgan Suites. Pwede kang magswimming at kumuha ng litrato. Dito, pwede mong silayan ang ganda ng buong Manila tuwing gabi.”
(Do your research. Ask yourself if the location is convenient for you. Does it complement your lifestyle? Is it close to work? Is it safe? Is it peaceful? Is it accessible? Those are the things you should ask yourself. Amenities are also important. For example, I like the rooftop pool in Morgan Suites. You can swim and take photos. Here, you can survey the beauty of Manila at night.)
The LIVE-WORK-PLAY-SHOP way of life doesn’t stop at Taguig. Megaworld now brings the convenience of township living to the City of San Fernando, Pampanga, with Capital Town Pampanga.
Envisioned as the Philippines’ next Premier Business Destination, Capital Town Pampanga will offer its own set of amenities and components for a unique integrated lifestyle in the North. This 35.6 master planned township will feature an Events Trade Hall, a Rainwater Park with landscaped open spaces and trails for walking, jogging and biking activities, and a wide array of business concepts at the Shophouse District — complete with cobblestone-lined streets, donning Neoclassical Architecture with Art Deco details.
Capital Town Pampanga aims to stimulate Central Luzon’s fast-growing economy while showcasing the best of Kapampangan culture and heritage.
(Chelsea Parkplace façade at Capital Town Pampanga)
Discover a new kind of township living in Capital Town Pampanga’s flagship 12-storey condominium project, the Chelsea Parkplace. The residential masterpiece will feature a diverse selection of amenities for a holistic lifestyle. This includes a pool lounge, events space, fitness center, daycare and The Other Room— a modern speakeasy bar. The building’s own ground floor retail area will also feature delis, markets, coffee shops and more, all within reach.
For more information on Capital Town Pampanga, contact +63917-144-8696, email info@capitaltownpampanga.com or like our Facebook Page.
Source:
- Ruffolo, Chris Evert (February 2, 2018 – 9:33PM) 20s: The best age range to invest in a condo, house. Retrieved from https://cebudailynews.inquirer.net/162381/20s-best-age-range-invest-condo-house
- Adrian, Marc (September 9, 2015) Why Rentals in the Philippines Make Attractive Investments. Retrieved from https://www.imoney.ph/articles/why-rentals-in-the-philippines-make-attractive-investments/
- Remo, Amy R. (March 24, 2018 – 5:20AM) The dorm phenomenon. Retrieved from http://business.inquirer.net/248187/the-dorm-phenomenon
- Where the World Unfolds. (2018, October) Retrieved from http://www.megaworldatthefort.com/townships/mckinley-hill/
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