Regatta Bay condo, Puerto Princessa, Palawan.

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robert k
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No title insurance in the Philippines.

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Guy F.
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You must never have had a bad neighbor. Never under any circumstances would I commit to buying real estate without spending a few days scouting the area in person. I've spent a few days in Puerto Princesa and it's excellent in many respects, but problems can crop up that you would never have imagined before you see them. Is it far enough away from the new airport so that jet noise won't be a problem? Is there a pig farm upwind? Could a videoke joint ever be located nearby? There seem to be no zoning laws in the Phils.

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Snowy79
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1 hour ago, Guy F. said:

You must never have had a bad neighbor. Never under any circumstances would I commit to buying real estate without spending a few days scouting the area in person. I've spent a few days in Puerto Princesa and it's excellent in many respects, but problems can crop up that you would never have imagined before you see them. Is it far enough away from the new airport so that jet noise won't be a problem? Is there a pig farm upwind? Could a videoke joint ever be located nearby? There seem to be no zoning laws in the Phils.

That's one of the reasons I'm heading over this month to physically check the place out prior to parting with serious money. I've been over twice previously and know the area. It's well away from the Airport on the Honda Bay side. I've also spoke to some locals who see no issues with the area. There is a large what looks like a mangrove swamp (mosquitoes) just away form the site and it's within a gated community.

I'll be checking it for a flood zone but as they've been building there since 2014 I'd hope it's as dry as possible. If the water reaches the fourth floor where the condo is I'll be surprised :shades:

Touch wood there will be no cockerels, dogs barking all night and vidoeke parties. I can safely say there won't be the first two but the jury is out on the videoke parties. Worst case scenario I'll throw it on AirnB and move into a cheaper rental. It's a prime location with no chance of Condos being built closer to the beach or city.

The only honest downside I can see is they are charging Boracay prices. That in itself may keep the undesirables away and ultimately I wont have to worry about paying rent so my pension can be spent on damaging my health :nudie:

 

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bows00
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42 minutes ago, Snowy79 said:

The only honest downside I can see is they are charging Boracay prices. That in itself may keep the undesirables away...

Did you mention how much you paid for the condo?  And how much are the monthly condo fees?

Everything sounds great, if all the stars are in alignment.  But personally, it would be too much of a risk for me buying a place sight unseen, and not even built yet. 

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Snowy79
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20 minutes ago, bows00 said:

Did you mention how much you paid for the condo?  And how much are the monthly condo fees?

Everything sounds great, if all the stars are in alignment.  But personally, it would be too much of a risk for me buying a place sight unseen, and not even built yet. 

Disounted to just over 5,000,000 php if paid up front for a loft condo of 43m sq. The condo fees are to be clarified in writing and also as to the standard of service before I part with the big bucks.

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Happyhorn52
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5,000,000 sounds like a fair price for a new condo, but 43m sq sounds really small. I currently live in a 233m sq house and can't imagine downsizing to a 43m sq unit. I'm from Texas and that's about half the size of the average apartment over here. To me the big question is how good is the sea view? If you have a great view you will be fine until you find a girlfriend with a kid. Anyway good luck and keep us posted on how it works out for you. 

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bows00
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21 minutes ago, Happyhorn52 said:

5,000,000 sounds like a fair price for a new condo, but 43m sq sounds really small. I currently live in a 233m sq house and can't imagine downsizing to a 43m sq unit. I'm from Texas and that's about half the size of the average apartment over here.

Like they say, they make um big in Texas!  A 43 square meter condo in Hawaii would cost you triple that.

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Guy F.
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Fourth floor? Two years ago a tour guide told us no buildings over 3 stories were allowed. They are proud of being "the city in a forest."

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scott h
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A very little thought of problem with condos here in the Philippines. I have yet to see a reasonably priced condo with 2 bath rooms. Now as we all know ladies tend to occupy the water closets for long periods of time. Here in the Philippines it is perfectly acceptable to run out side, find a handy tree, wall, telephone pole, car tire or road side to take care of business.

Its a heck of a long elevator ride 7-8 floors down hopping from one foot to the other.:hystery:

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JJReyes
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1 hour ago, bows00 said:

Like they say, they make um big in Texas!  A 43 square meter condo in Hawaii would cost you triple that.

One new Hawaii condo project constructed on a former parking lot of Ala Moana Center offers one bedroom condos at a starting price of $1.4 million. There is a two story penthouse unit with helipad at another new development. It does not have an asking price. If you ask, "How much?" means you can't afford it. The expected buyer's offering price will probably be $100 million.

My personal experience in attempting to purchase a Philippine condo is no bank financing available. Developer's installment payment scheme includes a hefty interest rate. The only option is to pay cash. I finally gave up on the idea.

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