Why Rent When You Can Own a Condo in Mandaluyong?
Touted as the “Tiger City of the Philippines,” “The Heart if Metro Manila,” and “Shopping Mall Capital of the Philippines,” it is unquestionable that the progressive City of Mandaluyong is one of the Philippines’ most prime real estate hotspots. As the city gradually and steadily developed over the years, it is now almost at par with Quezon City, Taguig, and even Makati when it comes to economic performance, level of infrastructure, and employment opportunities. In fact, its population is steadily growing as well, which increases by about 3.12% per year according to the 2015 Census—testament to how popular the city is among homebuyers.
However, Mandaluyong is a small city in terms of land size, and as such, there is limited area on which landed properties, particularly subdivision and townhouse estates can be developed. In order to accommodate the city’s growing population, plenty of condo developments have been developed over the years and many more are currently under construction.
The following are some of the different condo projects in the different areas/neighborhoods of Mandaluyong:
Eastern Section of Ortigas Center
Pioneer and Boni Area
Other Mandaluyong Locations
Given Mandaluyong’s position as a prime real estate hotspot in Metro Manila, it is not surprising that condos in the city command a premium, especially those located in highly sought-after areas, such as Ortigas Center and Greenfield District. However, this does not mean that affordable condos for sale cannot be found in the city. In fact, there are a number of options available to cash-strapped condo buyers, and one of them is rent-to-own condos.
Where to Find Rent-to-Own Condos in Mandaluyong
The aforementioned locations all teem with rent-to-own condo listings of varying sizes and prices. However, as no two rent-to-own transactions are the same, these listings come in a myriad of payment schemes and options.
One example is a one-bedroom, 31-square-meter condo unit located in Gateway Regency—a condo tower located along Pioneer Street close to Robinsons’ Cybergate office developments. This particular condo property can be purchased via a rent-to-own option, which involves paying upfront a deposit worth two months’ of monthly installment, 24 months’ worth of postdated checks, two valid government IDs, and signed purchase contract. This particular condo’s selling price Php3,199,000, which when divided into 120 monthly payments (10 years) corresponds to monthly installments or rent of Php26,658.
Another rent-to-own condo option available in Mandaluyong is one that is located in the city’s EDSA–Boni area. This particular property has an asking price of Php2.8 million, which when purchased via a rent-to-own scheme entails paying 5% down-payment (Php140,000) upfront, then the remaining 15% spread out over 22 monthly installments. After this period, the buyer can then apply for a bank-financed housing loan to pay for the remaining 80%. It should be noted that upon payment of the 5% down-payment, the buyer can already move into the property.
Finally, another Mandaluyong condo unit available for purchase under a rent-to-own scheme is a property found in Tivoli Garden Residences located along Coronado Street close to the Makati–Mandaluyong Bridge. This two-bedroom, 48-square-meter condo has a selling price of Php3.867 million and under a rent-to-own payment option, the buyer needs to shell out 5% down-payment before move-in, another 5% down-payment spread out over six monthly installments, and the remaining 90% to be paid at the seventh month either through cash or bank financing.
These are just three of the condo properties in Mandaluyong available for sale via a rent-to-own scheme. It should noted, however, that no two rent-to-own transactions are exactly the same and buyers well advised to carefully choose the options that best suit their needs and financial capacity.
Find Other Rent to Own Condos in the Philippines