Northpoint meets criteria for good condo investment-A A +A
Thursday, March 7, 2013
WHETHER you're an expert or novice investor, these three points are critical considerations you should look into before putting in your money on a real estate investment. See how Camella Northpoint measures up to the yardstick of a wise condo investment.
Developer track record. Beware of developers that promise you the moon and stars, or those that sell you hype rather than actual brick and mortar. It is difficult to buy and invest in a condo home when all you see is a flyer and illustrations and no actual development yet to see and inspect.
Camella Northpoint's first three building are already up, with homeowners already living in the first two. This British colonial themed condo community is now on its fourth tower, soon to be constructed amidst strong demand for its units. Camella's other projects in Davao are already living, thriving communities that are among the few most admired communities in the city.
Camella caters to the mid-market segment of the country's premier homebuilder, Vista Land & Lifescapes, where it is a subsidiary. A 2011 study by Colliers International Research showed Vista Land as the leader in Philippine residential real estate development with over 18,422 houses, houses and lots, and condominiums sold out in that year alone.
As the country's largest homebuilder, Camella has built over 100,000 homes in 18 provinces and 41 cities and municipalities. Its portfolio of successful real estate projects all over the country makes Camella a solid, reliable, and reputable real estate company.
Check the numbers. Rental numbers are another key consideration when investing in a condo. You need to make sure amortization, dues and property taxes can be covered by the rent. Otherwise it can become a money pit that will drain your resources.
Rental rates in north Davao remain competitive for properties within the class and reputation of Camella Northpoint. Prevailing rental rates in Northpoint are up to P50,000 for a three-bedroom unit, P30,000 for two-bedroom unit, and P20,000 for studio.
Owing to its world-class facilities, prime location, and well-appointed condo homes, Northpoint commands rental rates even higher than in Manila. This is also bolstered by the asset management service offered by Northpoint's property management team that takes care of the maintenance and leasing for the unit owner.
Northpoint's rental rates are more than enough to cover amortization and expenses pertaining to its upkeep, and still have a good margin for profit for the investor. With a professional property management team handling the maintenance of the condo property, a future resale value is also guaranteed to yield a profit.
In fact, even before the first building was built, Northpoint's value has already gone up, and in the next three years has appreciated between 15 percent and 40 percent.
With its lifestyle center currently housing a fine dining restaurant and wine cellar, with a coffee shop, boutique hotel, specialty stores and even a supermarket to follow, Northpoint's value will continue to rise.
As a green condo community, Northpoint's value is not hinged on its brick and mortar alone. The green living it espouses reduces the carbon footprint of its residents -- a priceless investment on nature that residents and unit owners can both feel good about.
It's still the location. Keen investors always think ahead. Will their condo investment have a solid resale value in the future, assuring capital gain? Will rental capacity remain strong in the years to come? Answers to these usually point to location.
While other condo projects rely on its immediate neighborhood to drive its value, Camella Northpoint holds its own. Located at the junction of Buhangin and JP Laurel Avenue in Bajada, it is situated at the pulse of the growth area of north Davao. Here is where major real estate development is taking place, with the construction of top-brand malls, new hotels, business and commercial centers taking place.
Northpoint's location alone is a big selling point for Camella, making it the city's newest premier address. Its proximity to all public utilities and major locators are what makes it attractive, driving more people to want to live in this exclusive address.
Published in the Sun.Star Davao newspaper on March 08, 2013.