Rental biz: New trend in property investments

CEBU, Philippines - Buying a property and renting it out is slowly emerging as a new business venture for busy professionals, this according to Primary Homes Inc. vice president for sales and marketing Ramero Espina.

Espina said investing real estate is a good business opportunity for professionals, business people, and even the Overseas Filipino Workers (OFWs) who have money to spend and seeking ways to gain extra income for a financially secured future.

He added that the newly launched The Courtyards in Banawa is a perfect property investment because it is located near government offices, hospitals, universities and other establishments. 

Potential investors such as doctors, lawyers and maturing Business Process Outsourcing (BPO) professionals can surely gain money from buying the property and renting it out to people who are looking for a house. This is especially a good venture as property rental business in Cebu is now booming, he added.

Espina added that this type of investment is appropriate for busy people or the OFWs who have had bad experience with erring contractors, with this they are assured that their investment is protected.

He further said that real estate investment is still better compared to franchising as it assures fast returns especially when the house is being rented.

On the other hand, Espina said it remains a far-fetched idea to develop a low-cost housing for the middle-income people within the city since lot prices in highly urbanized areas are usually high.

However, the company is studying the possibility of developing a project for the middle-range segment in the city.

Meanwhile, the company's new project will be completed in the last quarter of  2015.

The Courtyards in Banawa is the first-of-its-kind walk up condominium.

"This is really different from the usual high rise condominium. Since low density siyapeople can easily familiarize with each other. Naakaysilingan. It creates a community," he said. (FREEMAN)