How Much? We go Condo Shopping in Uptown Cagayan de Oro Philippines

[@artvandelay409]

I simply cannot believe that condo is worth anywhere near 8.5 million pesos. Maybe 4.5M at the outside. There is nothing to it. There is hardly any room for appliances in the kitchen. I could build a beautiful house in the province with beautiful interior decorating and a swimming pool on a 500 square meter lot for that kind of money.

[@timothyjohnson1511]

I agree. He probably paid P2.5M.

[@bryanking1065]

Agreed

[@FlyMeToThePhilippines]

Thanks for watching our video

[@Gregory-Masovutch]

Yes building is your best option however land prices are going up. We built 6 years ago and it was worth it.

[@Quest4us]

Your audience is 99% American, Canadian or Australian. You didn't mention the square footage or the usd price. Price was easy to figure out, but it always amazes me how often expats in the Philippines leave out details to the crowd that is considering a big move to whole a new culture. A little more about the island, the town, the nature parks, waterfalls, beaches, local food specialties would have been great. Thank you for the tour and best wishes with your sale.

[@FlyMeToThePhilippines]

We included price in text/graphic in Dollars. We have 180 videos many about the area.

[@careysretirementjourney]

Rob, as someone living in primavera, it again reminds me how nice the location and view is. After my workout I relax in the pool with my arms on the pool edge gazing at the city wondering how friends are enjoying the oncoming winter in Canada. Good video

[@FlyMeToThePhilippines]

Thanks for sharing your experience Carey.

[@bryanprehoda]

I was there for 1 month spent hours in the pool. Different times. Not once saw people use it. The pool needs work lots of work.

[@arcade-o8816]

No way that value of that condo is 8.5million. Its so basic and just looks very cheap. At most maybe 4million but even with that price i wouldn't pay for that. Buying condos or investing just doesn't make sense. For convenience yes but might as well just rent then to commit to live in a tiny box at one location.

[@stevesilver7437]

You could pay 50000 peso a month for 12.5 years that would equal 7500000 pesos about $860 USD a month.

[@TumbleweedRocks]

I’m guessing it’s nearly the price for the same size furnished in Metro Manila outside BGC/Makati,I think. But CDO isn’t Manila.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@bobbyjames4300]

@@stevesilver7437I was just thinking the same thing. 30k to 40k in CDO for rent per month easily. Why buy ? If something goes bad fast.

[@jeffcope100]

Three million at the very most. The condo looks very small/cramped and yes, it does look a bit cheap.

[@Eric-qm5xw]

You can buy a condos in taguig manila, slightly smaller for 8/9 million a walk away from arguably the best infrastructure in the Philippines. Youve got to be careful with these new condo’s..unfortunately he will be very lucky to get more than say 5’ million for that.

[@wanderingdoc5075]

Fact. Only buy condos (or any investment) in established, appreciating markets that a person richer than you and smarter than you will want to buy in 10 years. As a successful real estate investor the early retired me in my 30s nothing in the philippines made sense as an investment.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@lorandmagyar]

Very nice place ! I like the smaller space.

[@FlyMeToThePhilippines]

It really is!

[@TumbleweedRocks]

Since it’s brand NEW, it will be some cost to finish out & furnishings. If you’re looking for that, I’d suggest checking with the developer to see if there are any UNSOLD units. That will give you a better idea (not perfect) for comparison purposes of true value. Also, if they have many units left over/never occupied, it will suggest how much negotiating may be possible. PI’s seems to have a major over-build problem, from what I have experienced. Might be hard to rent/sell.

[@FlyMeToThePhilippines]

Interesting analysis thanks for watching our video

[@joe.man.]

Very small, and it sounds like you would be living next to loud construction projects for the next 7 years in retirement. No thanks. I'm still waiting for the updated budget video.

[@FlyMeToThePhilippines]

Thanks, Joe and appreciate the feedback

[@dimakonax]

living by road like that means ..... NOISE ALL NIGHT

[@FlyMeToThePhilippines]

Thanks for watching our video

[@johnclark7973]

Did tou say that land actoss the street was going to be a college amd mixed use development (restaurants, shopping)? Would you say that would be a good place to mix with the locals?

[@FlyMeToThePhilippines]

Yes, absolutely

[@BelleB-b9z]

BGC area has a price of 100million plus for condos. The elegant and descent the area the more expensive it is

[@FlyMeToThePhilippines]

👍

[@TumbleweedRocks]

@@BelleB-b9z Must be a really big 2 or 3 BR for that much!

[@albertmorrissette3640]

We appreciate your video, I will read all comments because good, bad or otherwise I enjoy what people think. By the way, price is negotiable and we offer owner financing at 3.5% for up to 15 years. The 7.5M price is an estimate including final cost.

[@FlyMeToThePhilippines]

Thanks Albert

[@uknursey1757]

That is the approximate total amount of my project a 3 floor building just few minutes away from this condo 😊 I have 3 units air b and b, it's just around the corner of PN Roa and SM bypass roads, few steps from the gate of The Courtyards Subdiv., if you wish to stay, we will have soft opening next month. Well, a lady came yesterday and looked around for a night to stay in Uptown and she ended up staying in one of the units, as she loved it 🤗🤗

[@FlyMeToThePhilippines]

Sounds great!

[@uknursey1757]

@FlyMeToThePhilippines thanks 😊

[@jefflynch3946]

Primavera City is wonderful. I bought two units at Primavera Residences, sold them and bought here before groundbreaking of Primavera City. We bought the space for a two bedroom unit and a one bedroom unit on the 9th floor here in Citta Verde and designed a two bedroom 108 square meter condo. The view is same as your rooftop view in your video, we see the bay, the city, the river and the mountains. There are five sliding glass doors each with a wonderful view. We own three condos downtown and think the uptown is much better. The condo was for us to live in while our house is being built. However, we have fallen in love with the view and next year when the house is complete, it will be difficult to leave. Currently we are selling our downtown condos and plan on replacing them with condos here in the next phase Citta Bella. There will be a third phase the same style 11 stories and then a 35 story building Citta Alta. The first 19 floors will be commercial and a hotel and the upper floors will be condos. One correction for your video-the structure above the pool is steel not wood and it is for transparent solar panels.

[@FlyMeToThePhilippines]

Thanks for watching our video and thanks for sharing this information. I found a very interesting.

[@JohnS-zq8ks]

What does the unit rent for on an annual basis (not Airbnb)? What kind of net makes sense if you take gross, less taxes, HOA, repairs, etc. assuming its rented all 12 months for market rent. By market rent, I'm saying maybe average exposure in order to get a tenant; say 30 days, whatever makes sense there.

[@FlyMeToThePhilippines]

Good question that analysis would be very informative. I suspect it would rent for 35,000 pesos a month, including Internet

[@JohnS-zq8ks]

@@FlyMeToThePhilippines so only about $90,000 of the asking price would be supported by net operating income. I know nothing of that market, but capital appreciation would have to be large to get to his ask, plus a real return on top of that. Highest and best use most likely an owner-occupant not as interested, or aware, of the economics.

[@paulmckeown6041]

Looking at other properties I can build a house including land for that price with a pool (building the Philippines) vloggers

[@FlyMeToThePhilippines]

Thanks for watching our video

[@bryanprehoda]

That’s expensive. I was there in march studio was 3.1 on 6th floor. Work with ownership as they lease out units and sell. They are Italian. Should be able to get a 1 bedroom for 5mil. Do it right you can air bnb it while u travel n pays for your air bnb . Win win

[@FlyMeToThePhilippines]

Thanks for watching our video

[@KYFHOme]

Rob, is the volcano causing noticable air quality issues currently (mid-November 2024)?

[@FlyMeToThePhilippines]

Nothing we’ve noticed here

[@Bob-g6n]

Nice of you to promote a friends condo but i suspect it wouldnt even sell for 4 million.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@skaidimusic]

I have no idea about condo prices, but this looked like a 40 sqm unit with a small living room, an even smaller bedroom, and a decent view. I guessed $4 million due to the roof, swimming pool, and gym, but it's always the case that there are buyers who fall in love with a Filipina - though they’re not easy to find. It’s well-known that buying is easy and selling is almost impossible in the Philippines, but of course, I wish him good luck.🙂

[@FlyMeToThePhilippines]

Thanks for watching our video

[@billyjohnson9166]

No Comment.

[@FlyMeToThePhilippines]

Thanks for watching Billy

[@dirtbikechannel154]

haha we have some great memories in that pool. It's a good location.

[@FlyMeToThePhilippines]

It really is!

[@Billy_B_Goat]

Dang, that seems pretty pricey for CDO. I would much rather invest the money in Cebu or BGC.... but that's just me. Peace and Love, B Goat

[@FlyMeToThePhilippines]

B Bgoat thanks for sharing your thoughts and watching our video

[@johnmurata7275]

I bought a condo in BGC to live in and not doing it as an investment. I think it's better to just buy a house and lot because you don't have to pay HOA for it and you more control on your own property.

[@FlyMeToThePhilippines]

Thanks for sharing your thoughts and thanks for watching our video

[@jefflynch3946]

7.5 million is fair- 8,5 million value they claim would before a completed unit- all cabinets etc. I spent 980,000 pesos for cabinets - remember there are NO closets -your cabinets in the bedrooms are your closets. That kitchen shown has no cabinets and baths had no glassed in shower enclosures. Additionally, if you want a parking space that is 895,000 pesos.

[@FlyMeToThePhilippines]

Thanks for offering your thoughts and thanks for watching our video

[@fransodekerken-sf7xs]

Thought earth quake areas ask fore more flexible building technology not rigid ( look up building techniek in San francisco)

[@FlyMeToThePhilippines]

Thanks for sharing

[@Benny-mp5bs]

I would love to come and check the Philippines out. I would love to discuss this more with you. I am a golfer so that part interest me. I have never traveled to Asia area so it would be a whole new experience.

[@FlyMeToThePhilippines]

Absolutely I would enjoy speaking with you. You can check links in the description box.

[@Jerry-fv9ix]

Plain Jane condo

[@FlyMeToThePhilippines]

Thanks for watching our video

[@jimdouthitt2831]

Oh my the HOA & TAX is about 5K/Mo? I always tell people that ask, Do NOT buy a condo in the Philippines! Very small, poor build quality and overpriced!

[@artvandelay409]

Not to mention they are a bitch to resell.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@petepinal8415]

Hi Rob & Chrissy, Thx for sharing a great blog, about “buying” a condo, in Cagayan De Oro. In the near future, could you & Chrissy share a video, about “renting” condos in Cagayan De Oro, in the $300 - $600 price range, for a one bedroom condo, with a balcony, and nice views? I think we’re a broader market, looking to rent, than to buy, 😎😉👍🏼.

[@FlyMeToThePhilippines]

Thanks for watching our video and thanks for the feedback

[@petepinal8415]

@ Walang anuman, Rob & Chrissy. I think, if there was a survey among us subscribers, as to “who” provides the most “valuable & informative information on “foreigner/Filipina relationships”, the two of you, would win it, hands down. Chrissy, it’s amazing how you’re so young, yet so very, very, very wise, beyond your years. I love you guys, and can’t say enough, about you. God bless you both, 😌🙏🏼❤️…

[@FlyMeToThePhilippines]

@ thank you so much, Pete

[@franciscoaguilar123]

I've seen so many articles that tell the condo cost to rent versus buy has gotten out of whack. It has all the signs of being a bubble.

[@FlyMeToThePhilippines]

Thanks for sharing your analysis and thought

[@richardhogeland8597]

What is post sale pre sale price

[@FlyMeToThePhilippines]

Good question

[@davidv.2050]

Kinda strange why your friend didn’t have the key to his own unit?

[@FlyMeToThePhilippines]

He has not taken possession from developer yet - no final walk through

[@marcrichard7251]

Too small and plain looking…people in the Philippines many times can’t even get an offer so buyer beware. Nice video otherwise…and Chrissy is always easy on the eyes 😊…

[@FlyMeToThePhilippines]

Thanks for watching

[@brownsuede4413]

Sorry that *Clapping* sound at the start of the video i thought I was watching something different...

[@FlyMeToThePhilippines]

Thanks for the feedback

[@mrbHanoi]

Fukuoka Japan much cheaper and u own the land forever Malaka Malaysia is much cheaper also but need a Malaysian partner. Japan can buy 100% in my name.

[@Tokyo-Ville]

Just purchased a house in Chiba, 1km from the sea and 1h30 from Tokyo. Same price as this condo with a 100m2 house, and 360m2 of land. Full ownership. Reformed and in pristine condition. Japan got so cheap with the recent Yen fall.

[@mrbHanoi]

@Tokyo-Ville also population decline leading to close to 10 million abandoned houes. Akiya houses

[@FlyMeToThePhilippines]

Thanks for watching our video

[@mrbbkk]

​@@Tokyo-Ville sounds great

[@johnclark7973]

21:31 to the end: 😳🤣👍

[@FlyMeToThePhilippines]

Thanks for watching our video

[@wanderingdoc5075]

Invest in real estate ONLY in established, appreciating markets that a person richer than you and smarter than you will want to buy in 10 years. As a successful real estate investor that early retired in my 30s, nothing in the philippines made sense as an investment. I've looked at over 100 condominium projects in the Philippines and why is it that the condos here it look 20 years old after 2 years? Bad management, corruption, and poor build quality. If you can't get your invested capital back after all expenses after 6 years it's also a bad investment. The resell market in the philippines is also extremely iliquid, it will take you three to four years to sell your condo and that's if it's even priced correctly.

[@etfremd]

☝️☝️what did you think of the price? That seems very expensive!

[@wanderingdoc5075]

@etfremd It's expensive for third world country with poor build quality and poor materials. I bet that condo doesn't even have adjustable hot / cold water pressure and temperature, something we had in the 1970s in the united states, for apartments that rented for $75/month and sold for $25,000. So even if this condo was selling at $25,000 it does not even have the amenities that a condo from 50 years ago did. But it's selling for $200,000.

[@FlyMeToThePhilippines]

Thanks for watching our video and sharing your thoughts

[@markmiddlestadt2655]

Sorry but the only good thing about it I the roof deck/ pool and views. Otherwise overpriced. Unit too small.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@bannertraveller5879]

Which is why he is probably selling it. Better to invest in Bitcoin and just rent at this point.

[@WhiskersAndWords]

You can easily find comps for 6m, you are way overpricing

[@FlyMeToThePhilippines]

🤔

[@Gregory-Masovutch]

Don't buy ANY condominiums in the Philippines. There is a 5 year oversupply and HOA certifications or sinking fund reserves are not disclosed to you. Plus the developer still owns the land and not the HOA. You have no idea on structural integrity issues and future supplemental assessments. Then the title transfer cost is expensive. Worst is the rate of return with massive airbnb rentals on over 80% of the building. There is little open space and future buildings are literally built right next to yours, obstructing any ocean or scenic views you might have presently. Cities only care about property tax and revenue and no interest on open space or preserving future values. Also many workers usually have their land allocated right next door to your balcony window. So prepare to look down on slums, roosters, Tricycles, shack slum housing, etc. That is part of your view looking straight down. STAY STAY STAY AWAY. You will get no appreciation, low rates if returns and endless headaches. 😢

[@FlyMeToThePhilippines]

Thanks for watching our video

[@jasonclark7049]

About owning a house and land: I know several guys from America that quickly found out they no longer owned their house, land, and other assets after them and their American wives got a divorce 😂😂😂

[@FlyMeToThePhilippines]

Thanks for sharing

[@theupsidetv2007]

That condo is way over priced. It does not have a kitchen, the room is very small. This condo does not worth more than, say, 3M pesos, or around $50,000. The only good thing about that condo is the proximity to the SM mall.

[@FlyMeToThePhilippines]

Thanks for watching our video

[@theupsidetv2007]

@@FlyMeToThePhilippines Love your videos.

[@stevesilver7437]

Did he say Sex now we have to wait for part two Rob!

[@FlyMeToThePhilippines]

😂😂 He Did

[@georgeusry511]

127,000 for a small 1 bedroom. To much $$$$

[@FlyMeToThePhilippines]

Perhaps

[@FlyMeToThePhilippines]

👉 flymetothephilippinesconsultation.as.me/ consultation calendar app

[@donalddemo]

Gonna be for sale for about forever at that price. In BGC maybe 8.5m pesos

[@FlyMeToThePhilippines]

Thanks for watching our video

[@rockycata6078]

That place is not worth $125,000. If he paid $50,000 on the build price for 5 years, he might not get his money back. Good location, but that's it.

[@FlyMeToThePhilippines]

It is a good location

[@mrbHanoi]

@@rockycata6078 agree close to 50% is profit

[@michaeldaviau5426]

Those types of bathrooms are useless fir western people . There is bo place for your products and the washroom would be wet all the rime . Seems small .

[@FlyMeToThePhilippines]

Thanks for watching

[@Tokyo-Ville]

I personally did not like this apartment. Above the gaz station, on the road side, soon to get a 30 floors building just in front, nothing attracting me in the layout and 7.5m Pesos...

[@FlyMeToThePhilippines]

Thanks for watching our video

[@jeffcope100]

Agree. Someone would have to be out of their mind to pay pay that much. Maybe 2.5 million at most. Not a great location for sure.