MANILA, Philippines - Everyone reaches a point in their life when they dream of owning something substantial. Perhaps, you start off with a designer bag or watch, then move on to bigger things like home appliances or nice furniture, and then, maybe a car. But the ultimate dream for most is buying or building their very own home. The process, however, can be daunting, to say the least. When and where do you start looking? How much will it cost? Can you afford it?
Buying property and building your dream home were the hot topics at a panel discussion recently hosted by HSBC. The event, held at Makati Shangri-La, featured experts in the field of real estate and architectural design — David Leechiu, country head, Jones Lang LaSalle Leechiu; and Luigi Sison and Cocoy Leyva of 3Arkitektura, who shared the ins and outs of where to build your first home, how much it could cost you, and everything else in between.
The event was held to promote HSBC Advance’s latest home loan promo and also featured simulations of different areas of a house — living room, lanai and formal dining room to give guests the feel of being “at home.”
“When the time is right, owning your own home climbs to the top of almost everyone’s priority list,” says Johanna Garcia, HSBC SVP and head, Group Communications and Sustainability. “Whether it’s a cozy little studio for someone on the way up the corporate ladder, a starter house for a young couple or an upgrade to an existing home to reflect a new phase in your life, nearly everyone dreams of one day buying their own home. And with HSBC’s new home loan proposition and latest promo, you might be surprised at how close you actually are to realizing that dream.”
Property Investment
“The Philippines is in the early stages of a boom,” says Leechiu. “Land values in some prime villages in Metro Manila — such as Corinthian Gardens, Ayala Alabang, and Dasmariñas — have increased from 50 to 100 percent.”
Citing some examples, Leechiu said that in Makati, one could buy a condo unit in Paseo Parkview for P3 million and then rent it out for P18,000 a month. A unit at Essensa in Bonifacio Global City can fetch up to P28 million with monthly rental at P165,000. He added that these prices are based on unfurnished units and do not include association dues.
Leechiu says that before investing in a property, prospective buyers should educate themselves on issues such as trends in interest rates, infrastructure, credit ratings, developer profiles, and changes in policies. “Respect your asset — real estate is long term. It will make money for you whether in good times or bad.”
Investing in a property is a huge step, but there are many more to take to achieve your dream, such as determining the design of your dream home. “Some homeowners want to bring into their homes their previous experiences from abroad, according to Luigi Sison and Cocoy Leyva of 3Arkitektura. “Some may want to go home to a ‘resort feel’ kind of house that allows them to get away from the daily grind; some want to use antique elements and old materials to evoke the character of the olden days,” Sison said. “Although it can be a bit more difficult to maintain, the Modern Minimalist is a popular and affordable design to execute,” Leyva said.
HSBC Advance Home Loan
Faced with all the choices, audience members wondered about available options for financing their dream home. “In the local retail banking arena, HSBC has always been known as one of the best providers of wealth management services, but what our customers may not know is that HSBC currently provides one of the strongest home loan propositions available,” said Ron Logan, HSBC’s SVP and head of Personal Financial Services. “Recognizing the upward trend in real estate, we’ve recently launched a breakthrough home loan package with the lowest interest rates available. And if you’ve already taken out a loan from another bank, come speak to one of our home loan specialists and see what we have to offer, anyway. If you decide to transfer your loan to us, we’ll not only waive all service fees, we’ll even pay any penalties and expenses you incur from the loan transfer!”
HSBC Home Loan gives you the lowest interest rate at 6.99 percent, with huge savings on waived home loan fees and charges. Logan said, “With the HSBC Home Loan, you potentially save P33,846 for every P1,000,000 you borrow. That can come out to nearly P100,000 saved on a P3,000,000 loan. We also work with you to come up with the repayment option that’s right for you. As the world’s local bank, we’re already known for our warm, personalized service and global expertise in wealth-building and wealth management. So when you get a home loan from HSBC, rest assured, not only will we help you build your dream home, we’ll also help you build your dream future.”
For more information, log on to www.hsbc.com.ph or call 976-8000.