During this blog post we are still on Enhance Community Quarantine (ECQ) and Baguio City with the whole Cordillera Region will shift to General Community Quarantine (GCQ) soon. Shortly we are curving to the New Normal of activities while observing guidelines. Now, I want to tackle if it is good still to invest in real estate properties here in the Philippines, mainly focusing here in Baguio City and the nearby province of Benguet.
Disclaimer: This is an opinionated blog post of mine and not an investment forecast or financial advice for future real estate ventures.
Exclusively Baguio and Benguet Real Estate Areas Will Not Be Affected by the Economic Slowdown
When the ECQ was implemented, I was not able to post or actively enough to get client leads but even while doing my backyard gardening to maintain my sanity. Client call leads are still coming in local and international.
Apparently these people are serious buyers who are mostly OFW, near retiring folks and parents who would like to buy their son and daughters a place for them to stay while studying at a University. Baguio real estate has not still slowed that much in my own opinion because there is not a week that I had a new client lead even after ECQ.
The undeniable charm of Baguio has not still faded and people want this tranquil mountain city to be their home. Also adding the cool weather that also attracts many Filipino and foreigners to buy or lease and make business in Baguio.
For me, because of Baguio’s unique geographical location, its weather, culture, native people, and what the city can provide to its folks, students, and tourist. It has an unparalleled appeal that will not soften real estate buying for sure.
Anyways, there are still property owners who are selling at an under market value. Contact me if you would like to know, where this is located.
Banks will offer lower interest rates
Financial and banking institutions will surely offer lower interest charges if you plan to get financing. This is an advantage for investors and you. If you have a plan to buy a property with bank financing assistance. Then this is the right time for you if you have a business or work which is not affected by the pandemic.
I have already seen an email on one of the big banking institution that is already giving 5% low-interest program. If anyways you need bank assistance and you want to do it the right way and you can have an insider’s knowledge to do it well. Then call me, so we could talk more about it.
Some Owners Will Sell Their Property at Under Market Value
Sadly, big and small businesses are starting to close and declaring bankruptcy. More or fewer property owners will sell their real estate to cope up with the financial stress. For some investors and deep-pocketed individuals, this is again time for them.
I highly suggest to contact your agent/broker (me for Baguio) if they have an insider’s knowledge on what properties are under market value. This will save you a lot of time and effort in researching the best real estate out there to invest in.
Big and Small Property Developers Will Give Better Payment Options
If you are already looking at property postings of some real estate sellers that are in-house by developers. You could see that they are offering lower down payment or stretch out payment terms. I have seen some stretch out payment terms without interest and that is a steal for those who would like to buy a property of their own.
Always remember in buying pre-selling property developments is to do your own due diligence. Be smart and double-check and fact check everything they offer.
Conclusion
For those who would like to take a chance of buying a property right now. Then I say, GO! because there is always a good side on every slow economy and real estate is always one of the first and fast to recover.
Baguio properties are one of the fastest to have investment turn-overs in the Philippines. That’s why in my own opinion. Baguio Real Estate properties will not be affected much on the economic slowdown.
When you think about the 1990 Killer Earthquake that struck the city. Nobody would like to stay in the city but after a few years the real estate market had persevered.
Baguio and its connecting provinces is very ideal to invest your hard-earned money because most people would love to live in one of the coolest places in the Philippines which is Baguio City, Benguet.
I love reading this post. Looking forward to more ideas.