Close

How long to sell a condo in Manila?

I flip houses in Houston and am looking into doing the same in Manila. Does anyone know how long it takes, on average, to sell a condo in Manila? I'm not talking about a high-end condo.

Typically a month or two, depending of course on the pricing and how good your sales agent is. =)

Hi,
It takes time to sell a condo now in the Philippines because there are lot of them are being built.  It also depends on your expertise and target market.  Check out what we're selling and possibly flip it.

I'm a Filipino-American New York based broker.  My family there is selling an Eastwood City Condo with 2 bedroom + 2 full bathroom and parking space included.

Since this is our own family property, we're selling it as a 'direct seller'.  The price is Php 5,990,000 and it's advertised in this website.  If your not familiar with Eastwood City, Quezon City (I think I'm not allowed to put a website link here), please Google it.

It's like a City within a City where you can work, live, play and not even have to go out of the Complex for everyday life's needs.  Almost everything are in the Complex like a shopping mall, supermarket, gym, 7Eleven, restaurants, banks, repair shops (except for cars) and lots more.

Thanks. Ray

With 1,000's of condos being built in Manila the marketplace will likely be saturated soon.

Somewhat related to your question, if you are flipping property in the Philippines, be aware that there is an effective 6% sales tax on the transfer of title.  This is usually called capital gains tax but the basis of the 6% is the total reported price of the transaction. 
Many try to minimize this by having two sets of deeds of sale, one with the correct price and another with a price close to the zonal valuation of the area by the BIR.  You cannot transfer property without paying this.  This is usually paid by the seller while the buyer is responsible of another  2-3% in doc stamps, transfer fee etc.

I have a loft condo in Rockwell that  I will be putting in the market next month. I'll update this thread if it ever sells.

how much is your asking price and details of your condo ? il try to sell it if its a clean title.. and if the price is right and the unit is well maintained and at the bery good strategic location..

tequilajordan23 :

how much is your asking price and details of your condo ? il try to sell it if its a clean title.. and if the price is right and the unit is well maintained and at the bery good strategic location..

I'm also selling my condo. Can you help me sell it?

@ Jblondke,
If a person is going to Flip real-estate property in the PI and they are not a Phil citizen, much research is needed on the laws here that prevent ownership on other than approved CCT titled condos/town homes. 

Any attempt to flip even a condo on a CCT that is not in the seller's name may be way more complicated that most expats think.  Imagine attempting to flip property that you do not have legal title or ownership to? 

It is recommended that you invest in some research that includes a complete understanding to the Philippine Constitution, TCT/CCT and the page that covers "encumbrances" verily closely. 

Problem Examples:

1.  In the PI, all loans stay with the property regardless of there being a new owner.
2.  Receiving a new title can take 4-6 months - How can a property be flipped if you don't have title yet?

Research, research, research ..than give careful thought on what ROI figures you seek and how risk adverse you may/may not be.   

Best of luck!

What about a contract on a unit that is being built. I have one that is supposed to over in 2019 but as we now have different family plans the unit won't support our needs.  Have been told by developer that can transfer contract but having very hard time listing or getting responses.

No desire to take anyone on deal, willing to sell near price I entered into contract with in 2014.

New topic

Expatriate health insurance in Manila

Free advice and quotation service to choose an expat health insurance in Manila

Moving to Manila

Find tips from professionals about moving to Manila

Travel insurance in Manila

Enjoy stress-free travel to Manila