2 BEDROOM CONDO FOR SALE, IT PARK, CEBU CITY! POOL, GYM & 2 PARKING SPACES!

This 2 Bedroom condo comes fully furnished with kitchen, living room, dining room, and 2 bedroom furniture and appliances. 2 balconies and 4 air conditioners. The condo building has a pool and a gym. 2 parking spaces are included with this unit.

[seo]

These are my observations after about 10 days staying in IT Park. It's an odd alternative reality. I'm 50. As an American, it feels a lot like living on a college campus. It's probably the neatest and most secure place you can live in central Cebu. There are restaurants, many coffee shops, maybe 5 Jolllibees and a half-dozen 7-Elevens, barbers, a considerable mall, dentists and general doctors, gyms, basically, all you need. But I feel like I'm living in someone else's reality. That someone else is in their 20s, maybe 30s, works at night, is Filipino, lives in a poorer area, and busses in and out. There are TONS of taxis and habal-habals (informal motorcycle taxis), mini-buses to all points. It's designed for those who work in the call centers.

A lot's made about the Sugbo Mercado night market, but if you've spent any time in Thailand, Malaysia, etc. you'll wonder where the rest of it is. It's a couple dozen stalls selling the same stuff you can get at the mall. And they're not especially friendly. Far faaar less than the average mall-front night market in BKK.

I enjoy my Airbnb here and feel relieved to come back here. It's, like, just not living in the real world. Great place to stay for a week or two, but I wouldn't live here. It's not "really" living in the Philippines. I see some older foreigners, but not that many. They seem a bit lost. Unlike around other parts. You won't turn any heads here unless you're young and handsome, or Korean. You walk outside the IT Park gates and you're immediately amid noise, poverty, and stuff falling apart.

If it's your first time in Cebu, IT Park is a great place to get your bearings for a week or two. Not much more if you want to experience and enjoy this country.

Always appreciate your content, Rod.

[eachoneteachone]

mil stayed in IT for years, definitely a nice upscale environment, but the asking price is Halloween scary...

[dddtrump]

I like Cebu IT Park area but this is an INSANE PRICE. 19M? = 340k usd. I'll rent a 2BR furnished condo for 700usd/month (8, 400/year) in same location instead. And have complete freedom to move anywhere I want at anytime. With zero risk and a full bank account.

[gregson]

Where are the 60k condos for poor people like me lol.

[mikeburns]

Good job Rod. The 19MM pesos sounds very pricey for a 2BR. How much are the association dues per month? Those typically increase faster than inflation and become pretty awful after a while.

[Darkmatter]

So glad to have found this video. I was thinking about investing in a property in the Philippines. But this video changed my mind forever. It makes less and less sense for expats to invest in properties in the Philippines. If you calculate how much you would have to pay rent for this apt. per year, it will come to roughly 3-4% of the purchase price. Which is reasonable. The owner on the other hand, has to deal with maintenance fees and actual maintenance of the apt. And if you're purchasing as a rental income investment, you have to deal with it sitting empty from time to time, while you are still paying all the fees. As well as bad tenants who will destroy the furniture.
In SE Asia it's much better to rent than to own. Same goes for Malaysia

[josephkephart]

i agree i had $352, 000 i would stay in the usa, , , NOT REALLYY IMPRESSED

[chrislaveen]

Nice condo in a convenient location close to needed amenities. For the asking price, I will just continue to rent and move around various places within the Visayas to adapt with challenges that comes with living here. Found a beautiful condo in Bacolod and will probably move there soon. Thanks for the heads up Rod.🎉😊

[hankyoung]

Thanks as always for the informative real estate info, Rod. $352k USD is a USA price even though I was impressed by the area. Please keep this up, Cebu is on my list of potential retirement destinations and your presentation style seems designed for me and my friends watching to see if the Philippines is our best choice

[mattbraban]

You could buy one as good as this at this price in Australia

[dennisb]

For the rich only some people have the luxury of paying what ever if they want to be there good video once again Rod

[ianlewis]

Easy to buy hard to sell...rent is very cheap in Cebu city, Philippines.
Rent for a few years first things can change ....WOW 19 MILLION.

[John-vhig]

Maybe next time let natural light flow in every room. It looks very dark with all the curtains. Not too inviting. Just suggestions. Thanks.

[thomasc]

Thanks Rod. Very informative. If I've surmised correctly, it would appear that Cebu City is desirable with the availability of many western-like amenities. Further, IT Park is a premium location in the city. I'd prefer to rent rather than own, regardless of the location. However, I plan to visit Cebu City later this year. From my observations (thanks to you), I'll compare condo and apartment rentals throughout the city, including IT Park. It's definitely worth a look. And I'll pay a premium to avert the roosters too. That's a sanity buster, at least for me. Thanks again. Stay safe and well.

[surfboy]

invested at a 7% dividend distribution rate and you're making over $24, 000 per year or $2000 per month. What kind of place can you get for $2, 000 per month?

[janedudynsky]

Hi Rod. I've been very busy lately and I was not able to watch your videos. Anyway, condo is in a good location but a little bit pricey. Good luck to the owner selling it. Take care always Rod and God bless.

[TeamMaric]

I'm moving to Cebu at the end of the summer to be with my wife. I'm so thankful that you can show things like this and what they go for on today's market. I was looking into cheaper places like 5-9million peso but IT Park is the top of the top. If you make a video like this over in the buildings in Mactan Newtown I'd like to see that. Anything JRC is selling over there I'd be interested in seeing and your honest impression is wonderful as well. Keep it up man, doing a public service

[denscorpioftw]

The approx 50:1 currency exchange rate with the US still perplexes me to this day -- especially when it comes to property. This same unit would go for practically the same price in many parts of the US, including major cities. As many times as I've visited the Philippines, where does the 50:1 manifest most? I've experienced some savings, depending upon the products or services in question, but yet to see 50:1 in virtually any circumstance.

[Themanfromohio]

Why are condo prices so high in the philippines, compared to Thailand?

[yinfangcheng]

It's a stupid price that only stupid people can afford it. pls. forgive my rudeness