5 Reasons Why Millennials Should Invest in CondosJanuary 3, 2022
What are the reasons why millennials should invest in condos?
- Prime location
- It is better than renting
- Condominiums adapt to the millennial lifestyle
- It is a high-value investment
- Now is the best time for condo investing
If you were born from 1981 to 1996, then you are considered a millennial. In the Philippines, millennials are the driving force of the labor force and they are the ones who have the financial capacity to start buying real estate properties. And while some millennials initially opted out of buying condos, many in this generation have shifted their mindsets into building long-term wealth. In this article, we list down 5 reasons why millennials should invest in condos.
Condominiums are located within city centers, which means they offer utmost convenience and smooth connectivity. With the pandemic and work-from-home setting fueling the need for more comfortable living spaces, condominiums are one of the best places to live in the Philippines for millennials like you. To add to that, as a form of real estate, investing in condos offer plenty of lucrative opportunities. There are several reasons why millennials should invest in condos, and these are just some of them. Continue reading on to learn more.
Millennials are geared toward living in prime locations such as in city centers. For a good reason, city centers offer easy access to every establishment one may need for daily living. By investing in a condo, it is possible to benefit from convenience without spending too much.
For example, if you live in a condo in Manila for sale like the Kingsquare Residential Suites by Megaworld Manila, you won’t have to travel far to head to restaurants, convenience stores, hospitals, schools, banks, malls, laundromats, and more. With a prime location in Manila, everything you need is within easy reach. A few walks away are enough to get to your destination. As a result, you don’t have to spend on transportation costs such as parking fees, bus or taxi fare, or fuel.
It Is Better Than Renting
Millennials are known for preferring rental properties because they can switch from one place to another without worrying about maintenance. While it is true that renting allows flexibility, it also results in putting one’s hard-earned money straight into the landlord’s pockets. The property you are living in will never be yours even after many years of rental payments. Why don’t you put your money into something that you could truly call your own?
Here in the Philippines, there are plenty of financing establishments available such as PAG-IBIG, bank financing, and third-party financing companies. If millennials invest in condos, they can apply for a loan and the monthly payments they make can pay off the mortgage. In as early as 10 years of payment, the condo can be yours. A condo can be an asset in the future, which makes it so much better than renting.
Condominiums Adapt to The Millennial Lifestyle
Millennials are known to be independent, free-spirited, and always chasing opportunities. They fear missing out. With this being said, the best condo developers in the Philippines kept up with the millennial lifestyle by ensuring their projects are equipped with everything needed for life.
Take the St. Marks Residences by Megaworld as an example. Tucked in the prime location of McKinley Hill, Taguig, the 23-story luxury condo caters to the needs of every millennial. Aside from its unmistakably sophisticated building design, the condo is equipped with the following amenities:
- Landscaped gardens (meditation garden, sculpture garden, rock garden)
- Adult pool
- Kiddie pool
- Pool decks
- Massage area
- Children’s playground
- Jogging paths
- Fully-equipped fitness gym with sauna
- Badminton courts
- Tennis court
- Audio-visual room/mini theater
- Male and female showers and changing rooms
- Function rooms
When you invest in a condo, you won’t only get the keys to the unit, but you are also purchasing a convenient and dynamic lifestyle. This scenario surely beats living in a rental house with no modern amenities.
It Is a High-Value Investment
The millennial is a generation that grew interested in building long-term wealth. They are more inclined than ever to think about property value appreciation and how it can benefit them in the future. With this being said, investing in a condo proves to be a smart move.
It should go without saying that most people prefer investing in condos to any other property type because they are more in-demand. Investing in a condo will pay off in the future because of the prime location and premium amenities. As soon as you feel like moving elsewhere, you can turn your condo into a rental unit. This allows you to have a new monthly income stream. You can also simply upgrade the unit and sell it for a higher price.
As stated earlier, rent payments go straight into the pocket of a landlord. By investing in a condo, you spend your money on what you can call your own instead of a property that does not have any value for your future.
Now Is the Best Time for Condo Investing
If you are planning to invest in a condo for sale in the Philippines, there has never been a better time than now. The Philippine economy is currently one of the fastest-growing across Asia and the country has also entered the Golden Age of Infrastructure. As more bridges and other mega structures are built, foreign investors from tech and industrial sectors are setting their eyes in the Philippines.
We’re on the cusp of the country’s development. This means it is also the time where most condo projects are affordable. Once more infrastructures are completed, you can benefit from high property appreciation rates. Take advantage of this era and invest in a condo now!
There are more reasons why millennials should invest in condos, and we’ve listed just five of them. What are you waiting for? Secure a unit from Megaworld Manila that offers value for your hard-earned money and a convenient lifestyle. Click here to check out Megaworld Manila’s condominium properties or contact us to request a quotation or more inquiries.