Updated April 17, 2009 12:00 AM
MANILA, Philippines - Jose Mari Cuervo, CEO of Cuervo Appraisers Inc., one of the country’s most respected property valuers says those looking to buy real estate for personal use or as an investment, should look into real estate syndication to get the most value for their money.
The Syndicator charges a “professional fee” for its services—usually about 10 to 15 percent of project cost. It does not make any profit over and above the project cost like a Developer would normally make.
The traditional developers’ profits range anywhere from 30% and higher. In a syndication, this margin goes directly to the investor in the form of savings. This is why syndications are usually 40% lower in cost than developer-led projects in the same vicinity with similar specifications.
“The syndication concept though first used in the country for residential high-rise condominiums can also work with other projects,” according to Cuervo. Mañosa Properties, Inc., sister company of Mañosa & Co. has thrown their hat in the ring by offering boutique residential townhomes along Lantana St. in New Manila, Quezon City.
Lantana Lane (www.manosa-properties.com, 497-7302 or 0927-3837442) is a development that has been truly designed for the Owner-Occupier. The sprawling 3,230 sqm lot will only have 16 units, making this boutique residential project unlike any other townhouse development in the area. Each 380 sqm unit comes with 4 full bedrooms, dining and living areas, a family room, maids’ and drivers’ quarters and a penthouse roof deck.
Each unit at Lantana Lane costs about P39,000 per sqm, or approximately P15.5 million for a 380 sqm townhouse. The project will also use Banco de Oro as its escrow bank for investors, making sure that all funds are used solely for this development.
No comments:
Post a Comment