Property Prices in Makati, Philippines

I agree with you George...I have gotten similar quotes...what I have found about the Makati market is that it is much much cheaper to rent and some developers will tell you that you can purchase the condo..and then rent it out to your hearts content...but only later to find out that the developer wants 50% of the monthly rental fees...hence the reason many owners will rent you their property but request you say you are a friend of the family. This is so they do not have to give the misleading developers half the monthly rental. Also...the market it Makati seems to be the opposite of most industrialized countries...where for instance...if you were to buy a condo and the payment was 1,000 US per month...you would obviously rent it out for more than $1,000 US so you can make a profit. Here in Makati...if your payment is $1,000 US per month....your neighbor is renting theirs out theirs for $650...and so is the is your other neighbor...hence very difficult to make money. Just seems more practical and more economic to rent the neighbors out for $650 than to make an investment in a property that you can not make rental profit off if you wanted to. This is a weird market. Just a thought...and something to check into before buying...even if you are paying cash...you would still want to rent it out for above what you would have to pay if you had to make payments....otherwise...where is the investment?