Park Terraces Review for investors

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Image taken by our staff. 1 Bedroom, 72 square meters, 22 million pesos ($402,000) type

Location of Park Terraces

Address:Park Terraces, San Lorenzo, Makati, Metro Manila, Philippines

Area Info:Surrounded by 5 huge shopping malls such as “glorietta”, “SM Makati”, the Philippine version of “Aeon Mall”, “Greenbelt”, and “Greenbelt”. The building is located in the middle of the city. The Skywalk (pedestrian walkway) provides comfortable access to the business district.

Surroundings:SM Mall and LandMark huge supermarket are both within 5 minutes walking distance. There are more than 10 mega-malls in the neighborhood, so everything is available, including dining, shopping, beauty, massage, and movies. On the rooftop of the adjacent “glorietta” shopping mall, there is a Japanese restaurant area called Japan Town.

Park Terraces Amenities

24-hour manned management, lobby, swimming pool (with pool for kids), outdoor children’s playground, direct phone line to front desk, gym, sauna, steam sauna, meeting rooms, elevator, parcel delivery service

Park Terraces’s special features

• Relatively large number of Japanese: Compared to neighboring condominiums, the percentage of Japanese is large (but still small compared to the overall percentage)
• High security: Elevators cannot go to your floor unless you hold up your card key, guests must leave their ID at the entrance and fill out an entry list
• High age and quality of residents: The volume zone of residents is from late 30s to 50s. Many are married couples or one-person households, and there are not that many with children. Many residents are calm, and the main lobby is basically quiet.

Park Terraces’s special features

• No elevators for high-rise floors: There are no elevators for high-rise or penthouse floors. 4 elevators per tower.
• Direct access to supermarket: The building has a direct underground connection to the “Landmark” shopping mall, which has the largest supermarket in the area, so you can shop without getting wet even on rainy days.
• Cost of living in the area is equal to or higher than in Japan: Many first-class shopping malls are located in the area, and prices at restaurants, cafes, and supermarkets are the same as or higher than in Japan. You cannot expect to live at the local price level.
• Security in the area is excellent: There is a dog run and park run by Ayala with a plaza in front of it, but it is impossible to sit on the benches at 10:00 p.m. There are many hotels, shopping malls, and banks in the area, and 24-hour security is played.

Property Reviews

With a pool sauna and a 5-minute walk to Japanese food, it is an excellent choice for residential use. I would recommend this property to expatriates with company-owned rent and families. However, you should be prepared for the cost of living to be comparable to Tokyo.

Capgain (gain on sale): Some properties have increased in value more than three times since the pre-build stage, and are expected to increase in value in the future. The developer is Ayala Land, so you can rest assured that repairs will be carried out safely, and the property’s unbeatable location is a strong source of added value.

Income Gain (rental income): The estimated rent is from 55,000 pesos, so most of the tenants are expected to be foreigners. 90,000 pesos or more for 2 bedrooms and above limits the number of tenants who can afford the rent, In order to attract customers, it may be necessary to make some small adjustments to make it easier for foreigners to rent, such as renting fully furnished apartments.