Rent To Own Penthouse BGC Philippines

Rent To Own Penthouse BGC Philippines
Insta: mergimvlogs
Email: [e-mail]
#philippines #bgc #manila

[@titodongplaylist2076]

You're like a celebrity now Mergim many people know you esp in the BGC area...Congrats dude..

[@janemariefuentes2988]

Lol bobo

[@nightwing4065]

The P64M 4 bedroom penthouse condo is HUGE! It's really nice. 😱👍

[@friarnewborg9213]

LOL. "Huge" Right, and the price is Behemoth-ic

[@Tahitipinks5]

Wow Mergim thank you for the condo tour there in Uptown. You can be a spokesperson for Megaworld!!

[@huneverknow]

Appreciate the nice presentation (Ad) Mergim. I might get a lot of heat for the below.. but been navigating the PH real estate market for a decade and learned a few things (also the hard way). 1. Association dues for luxury items like this are high and rising (nothing you can do about it once bought). This adds considerable to monthly costs. 2. You will pay the Real Property Taxes under RTO. There is a lot of talk in government about raising "assessed values" for that computation so expect taxes to go up significantly in the future. 3. When your balloon payment is due, your monthly will rise sharply, just look at current interest rates and compute what it would cost. You need serious income for a bank loan. In house financing etc is usually prohibitively expensive. 4 Rent to own usually has an imbedded/implicit interest rate.. i.e RTO is more expensive than outright cash buy. Today the narrative is probably that they don't charge a premium but the truth is that they charge you a peak price from 2019 (although the market value on secondary is much lower). Think of it.. PH equities are 25% below peak, bonds yields are massively higher, Bank loans are much higher, etc.. no way these units are worth the same... never seen a developer cut prices because it breaks the narrative of "prices only go up".. 5. The reason why these units are available "new" in RTO.. is because they didn't sell in pre-selling. Now they try to make a v expensive price more affordable through low early payments you think you can afford.. then trap you (see next point). 6. IF you can no longer pay, cannot get the balloon financing etc.. you can write off your accumulated equity to a large extend (if not all). The RTO contracts are very much in the favour of the developer. If money is not an issue and you are looking for a great place to live, these units are great. If you are a touch more savvy look elsewhere in property. The yield on units like these - after taxes, broker, assoc dues, furnishing, repairs - is probably lower than simply leaving the money at the bank in a money market fund. The primary market is not a market because price discovery is entirely driven by the developer setting the price and hence it is very misplaced for the economic situation in PH, the interest rate level, falling PHP, and the yield that boring "risk free" gov bonds give you. Just my 2cents

[@ihn2023]

Thanks so much for this info

[@mickiteoxon]

True very well said 👏

[@jocunningham]

Bureaucracy in the Philippines is terrible. Never again I'm buying a condo nor a house.

[@robocop581]

You said a lot but really didn't say much. Like for #1, you can't say association dues for luxury units like this are high if you don't provide a figure. What are the Association dues? For all we know it might be only 100 pesos per sq meter. As for ever increasing condo dues, maintenance on houses also go up due to inflation and deterioration of the property over time.

[@j134679]

@@robocop581 the main point is that current bank interest rates are at 7-9%, and further increasing as the BSP has announced it will match the US Fed's rate increase this December. You will end up with an insane mortgage that many won't be able to afford because they didn't do their due diligence with computing future expenses, and only looks at the initial RTO payments that only really cover the downpayment portion of the property value. Even if you can afford the mortage, >10% is an insane loan rate. Only makes sense if you have a very high income cashflow. The recommended sane plan is to have at least 30% of the total value in cash for down payment. That's the only moment you can say you can actually afford a property. And even then, the bank loan rate matters a lot.

[@leodantes3231]

Yes! Road to 100k silver button...No skipping of ads like subscribe comment and share...FAM(pinoy Friends who Adopted Mergim) here...

[@mirmir9806]

Shheeeesh!!! The first condo at @ 23 mil P. Definitely UPTOWN! $6k/sq meter!!! Alright, that's going to push my retirement later a couple of years while I save up. 😅

[@yvonnebondoc8707]

OMG 🥰i want that 2 bedroom! I hope it will be still there once i go for my holiday next year.

[@leotorio9815]

Thank you Mergim for the lovely tour and information. Cheers!

[@yugengamingph]

Thanks for doing these kinds of vlogs. I've been working in BGC for 5 years already and didn't know much about this type/kind of condos. Would you mind checking out the other side of BGC as there's a lot of condos there as well which are near High Street. I'm pretty eager to view condos from that side of BGC.

[@Canada93214]

i enjoy watching your daily blogs iam addicted already

[@lucillegil5306]

Love Mergim vlogs watching from the US

[@vantain20]

Everytime you this background music, all I can think of is the Trash Taste Podcast intro song

[@amaliahightower]

Craziness!! Why can’t they have a better closet wardrobes? Also idk why all the bathroom sinks have no cabinets to put your toiletries n towels and the half ass glass shower doors?! They can’t even install proper things for condos worth over 23 to 60+ millions.

[@jayb1590]

@amaliahightower3753. Agreed. The accessories and furnishings are low end for 23+ million. Even the washer/dryer combo looks like a budget model.

[@wavemaker2077]

The developer wants to earn as much as possible. lol.

[@kjh4878]

True! This is just an upscale condo

[@stephendunn2860]

Nice video. We already own in Uptown Parksuites. It was the right level of luxury for us - neither top end like Hyatt nor bottom. We are looking forward to moving in when we relocate.

[@perlaaguinaldo]

Good morning mergim nice and interesting content always.God bless you.

[@phanomkongker5060]

Looks like Korea and Japan 🇯🇵 also Chaina Great skyline

[@kjh4878]

Go for ayalaland premier or Rockwell if you are looking for a luxury properties.

[@kjh4878]

I used to rent a studio unit in mactan Newtown by megaworld here in lapulapu Cebu. I like the studio lay-out. The height from floor to ceiling is quite high compared to others. It's a European-asian inspired condo. What I'm surprised is the quality. They don't have Water proofing! The ceiling moist. Their grease trap is such a mess. The condo dues is quiet high considering nothing special with their amenities..just like the normal amenities u can see from the other developers. They are expensive because it's from megaworld..but the quality? Poor!

[@j134679]

I mean, it's megaworld. They mostly market to foreigners & Filipinos overseas. At this price level, locals usually only care about Ayala & Rockwell properties. Maybe even Ortigas land.

[@erikdc5796]

.........Mergim for Mayor of BGC!......... :D

[@abepagtama3803]

Thank you for showcasing Megaworld Projects, I’m a IPA international Property Ambassador for Megaworld International, base in Southern California for 13 years now. And have several real estate investment in the Philippines. #IAmMgaworldAbePagtama

[@MarkEdisonAlviz-official]

Hope to see you in Baguio, Mergim. Have a nice day always!!! 😊👍

[@Gemini530]

I just can't. Too small. Can't fit my wardrobe in that tiny closet. That closet is not even enough for my shoes and bags. Guess I can get a bigger condo, but that would be impractically and illogically expensive. Love BGC but living there will not work for me. They make their condos sooooo small in the Philippines. Similar to HongKong. Not good.

[@cdl6953]

Agree. Wardrobe space is not enough. I think the older condos are bigger like The Ritz, Twin Towers on Ayala Ave in Makati. The new build condos all have the same long/rectangular units. So many units in one floor. I wonder if it gets busy or noisy even.

[@amaliahightower]

Ikr...laughable cheap closet style!

[@dennisching7738]

YUP THATS MEGA WORLD FOR BETTER OR WORST CAUSE OWNER OF MEGAWORLD IS WORST DEVELOPER HERE BAIT FOR TOURIST

[@amaliahightower]

@@dennisching7738 😂 yup only the gullible will rent or buy these condos. They use cheap ass materials!

[@littlesparrow1284]

Ayala Premier knows well what you need or if you really have the budget you can buy several units or an entire floor for your satisfaction

[@SirLavik]

That music you used for your first part. Its used ALOT by a podcast called Trash Taste and its like... so wierd to hear it else where haha. its like its "their" song in my mind.

[@jayb1590]

23 million pesos? What the heck? I can get a similiar sized condo for less than that in a developed country including my own (Canada). I don’t know who would buy this except someone with too much money.

[@dcemt242]

Jay B😂 don't compared your own condo in the province of canada who is started to develope...bgc is 1 of a buisness area of the philippines..thats why😂 the prize is higher than ur expictation😂 but the own rent process here is very smooth and less stress just not like in other country including canada😂

[@littlesparrow1284]

Lol these are premier and top of the class residences

[@jayb1590]

What are you talking about? (a province?) Canada is a developed country already. It’s also the number one country that Filipinos emigrate to. So why would even a wealthy Filipino purchase a property in BGC instead of purchasing a similarly priced property abroad? Just to give you an idea you can buy a one bedroom condo in downtown Toronto or Montreal for this kind of money. Look it up.

[@jayb1590]

@theexplorer6780 I’m sure they exist, but many foreigners aren’t going to the Philippines to pay more than in the west.

[@littlesparrow1284]

@@jayb1590 I have relatives in Toronto and Quebec and you know what they too are saying that many canadians are leaving Canada due to high prices of properties.You have to understood that BGC is one of the most sought after addresses in Manila and its near or should I say neighbors to some of the most ultra exclusive villages where 2 to even 10 million dollars worth of properties are just peanuts

[@melsanches135]

Better if you can get license for real estate because you can explain Better and have knowledge of BGC area. Another source of free income .

[@screwupkiddy]

Anybody know how much are real estate taxes and condo association dues for a typical Uptown 2 bedroom?

[@kjh4878]

Which city are u?

[@kjh4878]

If you are in Cebu city (city center), a 2br 60sqm RPT will be around 13k. Condo dues depends on the amenities. But it will start from 90pesos per sqm to 120pesos per sqm

[@screwupkiddy]

@@kjh4878 Is the 13K per year or per month? Thanks!

[@kjh4878]

@@screwupkiddy per year..coz u will pay it annually

[@kjh4878]

@@screwupkiddy btw, if you are looking for a 2br condo in Cebu pls let me know..I'm a real estate agent here..I have a 2br listing fully furnished, corner unit at 53rd floor. Thanks

[@lucillegil5306]

So informative , thank you so much

[@Jay-qs2mb]

The first condo you showed in uptown has a great sized kitchen, great flooring and bathroom. Pity they only put in a 2 stove hob 😂 and cheap looking wardrobes. For the price being charged I am would expect a bit more thought about these finishing touches lol

[@random-fish]

_So gorgeous._ I'm texting my sister a link to this video now. Wow.

[@mickiteoxon]

23M pesos you can now have 2 story house with a swimming pool and probably a great nice car 😉

[@wavemaker2077]

The location really matters. 23M pesos in the province can get you a mansion with a big farm.

[@enriquejoseguidote6148]

Master realtor now Mergim.

[@frankiefernandez9225]

Beautiful unit🏆🏆🏆

[@danielito3766]

Amazing city! Im excited to visit february. Hope to meet u. Pls text me where to stay in bgc for 5 days rent

[@undiscloseduser2004]

Do you have a video which shows the rent to own process?

[@Lil-Mike-55]

Hiya dude!🤙🏻

[@armiemolon]

Everywhere in BGC knows you na! 😊

[@breakage959]

another amazing video!

[@Didi-z6u]

I get all not so good comments from buying condos that it gets run down after few years of use. Maintenance goes down the drain.

[@kjh4878]

Well, if you are a foreigner safest property to buy is a condo since it can be under your name. As the time goes by, it will deteriorate. If you have money, u can renovate/enhance from time to time.

[@j134679]

buy from Rockwell or Ayala for better maintained condos, DMCI for budget but also maintained. These are the developers that locals buy from to live in & have local reputation to protect. Most other developers are good as rental properties.

[@wilberemerson7905]

really love ur content

[@jeremyf5051]

Love the condo tours

[@KeonPH]

How is it I got an ad of SMDC before watching your video? Hehe. Also, I was there yesterday at that exact Pickup Coffee branch!!!

[@fascinationmama]

yeah by where are the bathtubs

[@balawisgaming462]

Loyal customer of pickup coffee 😁

[@aran5050]

You should be an ambassador of pickup coffee lol!

[@michaellim1606]

You look good together with Ms. Juvy hopefully you and her have mutual feelings in future

[@rhoelg]

she's married with kids

[@ArchieS-id8lf]

And Mergim has a beautiful Thai girlfriend

[@marisaboco1386]

Hello good morning!🌄😊

[@mpocholits]

We don't call them "Maid" anymore, we call them "Helpers" in tagalog, Kasambahay :)

[@floren879]

Awesome 👏

[@manuelcamomot5152]

Good info

[@007thematrix007]

@ 1:08 ".....put'n on 🎶 the ritz" P.S.,...heard from the grapevine, all the cool kids live in that area! 🌆🌉🌃

[@jemmrich]

I'm staying in the parksuites over looking the pool and uptown mall, it's a pretty nice building. I'm surprised at the prices, I was expecting they would start a little over 10 million pesos haha

[@jemmrich]

Also I am curious about the other things like taxes and condo fees. Also it seems like little things like a trash shoot that you would normally see in the west don't exist here and staff go door to door to pick up your garbage 🤔

[@fcf777]

@@jemmrich trash *chute*

[@jemmrich]

@@fcf777 haha thanks 😊

[@robocop581]

There is usually a garbage disposal room on every floor. There are separate bins where you can place recyclable items, organic waste and plastics.

[@j134679]

@@jemmrich it depends on the developer. Trash chutes definitely exist in Philippine condos... the shitty rip-off ones don't though. They're the type to usually market to foreigners & Filipinos from overseas as they're far away & can't always inspect what they're buying.

[@rinket7779]

How are you able to leave and come back to pilipinas so easily? Tourist visa or working visa? Do you have to buy an outbound ticket every time you come back in?

[@wavemaker2077]

He already explained it in one of his videos. They have to go out of the country when their tourist visa expires and they cannot extend the visa anymore. Of course a return outbound ticket is required.

[@feddiefranco4982]

It looks like you are now into real estate business too, aren't you?

[@Jocelyn1975]

I don’t know why all the apartment layouts are so ugly. They need new interior designers or architects

[@amaliahightower]

I noticed that most houses and condos in the 🇵🇭 are like that. It’s ridiculous how they use poor quality and cheap materials. Only the gullible will buy.

[@robocop581]

@@amaliahightower Load of crap. You haven't seen all the condos in Metro Manila so don't generalize

[@j134679]

@@amaliahightower it's because it's megaworld. Not a legitimate premium brand. All marketing.

[@ihn2023]

Mergim, what is your honest opinion about the prices of these Condominiums in BGC? I am not sure if you are getting paid to showcase these, so you do have to say nice things... but seriously is it worth it? Or is it a rip off compared to what else you can get in the Philippines? Would you, yourself pay for a condominium at these prices?

[@kjh4878]

Obviously it's a rip off. You got an obstructed view yet you pay that much..come to Cebu, price is reasonable. You can get a good price in the best location ever😊

[@007thematrix007]

+JACAJ ..... he's renting a unit in one of those bldgs. there so technically that kinda answers ur question on whether he'll pay for 'em [*rent-wise ofc]

[@ihn2023]

@@007thematrix007 Renting is different to purchasing

[@ihn2023]

@@kjh4878 Where in Cebu?

[@kjh4878]

@@ihn2023 Cebu city, Cebu business park and mango avenue.

[@nilachiong656]

Hi Mergim, for a change explore Manila Zoo, the most beautiful and modern Architectural designs in the world with Botanical and Butterfly gardens.

[@juanitawilms9842]

Nice Condo

[@rhoelg]

I'll probably spend my money in a condo in Spain just like Bea Alonzo did for this price i can get Golden Residnce visa haha.

[@Thigsy]

That's a good investment. Once you get Spanish residency/passport... You're open to EU countries. 😅

[@chrispbacon-r4v]

LMAO🤣

[@earlofbgc]

Megaworld condos are the best

[@eldybones517]

Carpark included?

[@TORCHTVsa]

😘

[@babylily2448]

😍😍😍

[@georgegolamco2102]

How do i contact ur lady agent we are very interested on the penthouse.😊

[@mariogallano1778]

Nice info.

[@jsabz3]

parking?

[@julzpogi17]

I love BGC

[@polh.c.3408]

Do you know that you sell better than most of the brokers. If I win the lottery I will get you as my broker hahaha

[@wavemaker2077]

He talks in front of the camera for hours everyday. Of course he became very good at selling things by now.

[@jgalz6384]

Mergim is pop...ular..now n bgc

[@perfectly22smith38]

Why not just rent

[@KingNewJersey]

Condo Living? No, thank you! Plus 23 to 27 Million PHP, or $450,000 a unit! 🤮🤮🤮🤮

[@jasonvlogs423]

You paying for the view ,but its still expensive for the price 23ml

[@mjfab74]

nice thumbnail

[@leandrobrosula3262]

☺️

[@faudungca8069]

❤

[@merryjoy5188]

Nice video showing condos in BGC 😍

[@fascinationmama]

how much are all the units ?

[@amaliahightower]

Oh wow! Didn’t u watch the video?

[@FootballFanv]

I have a great rent to own condo in tower two

[@jonesr227]

I look forward to your tour. :)

[@Didi-z6u]

I wonder if buying a condo in the Philippines is still an opportunity as an investment if you’re in a rental business…what do you guys think?

[@kjh4878]

Yes. Just go for a reputable developer. Go for the best location. Do your research before buying. Also you have to consider the property management.

[@landrodomingo981]

Can you get a small bathroom size rent own that can fit a sleeping bag, a blanket, a place to do the three S's (shower, shit and shave), and to relax in my tiny sleeping bed, staring at the lavish ceiling, and smooth luxurious white wall with luxury fixtures. Just like a 6x6 foot cell in a U.S. prison cell. What's the price for something like that? 👍

[@ericdgreat]

There's more to explore in the Philippines than just BGC. Just so you know sir 😊

[@frankiefernandez9225]

Rent to own🥸👍👍👍💙🇵🇭🇵🇭🇵🇭

[@francistv1506]

Baguio and Sagada Please or in Ilocos

[@AG-so4gl]

Manila overpriced and the quality is not that great, keeping it real

[@ArJuBEs]

W

[@yvonnebondoc8707]

Hi would you mind to send the contact details or email of this condo? Thanks Mergin.

[@janemariefuentes2988]

You need to start seeing real luxury condo. Everyone in the market know megaworld is not a real luxury developer lol poor design, low quality materials and horrible layout. Tour condos the likes of”the suites”, “horizon homes” which are the real luxury condos in bgc

[@DevilMadeMeDoIt666]

This.

[@Harzach-Hardcastle7685]

Agreed, on every count. Which condos in Makati would you recommend?

[@kjh4878]

Agree. He should go for ayalaland premier or rockwell

[@oldmanonamission8055]

Ask the Chinese regarding 'cashless' and they will say "don't do it. they are control you"

[@janemariefuentes2988]

Bat ganyan ung agent, mukhang buset at badtrip palagi lol

[@erikdc5796]

..........BGC Barangay Chairman Mergim..........