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Real estate business in the Philippines

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A good friend from Europe told me once, the way to sell a new condominium here in the Philippines is unexpected different from the way in his country. Let's explain such an offer.

Possible examples

A 'Studio' example:
Total Contract Price P 2,777,000.00
2 bedrooms
Down payment P16,731.25 payable in 18 months. In studio 10% down to move in. A few studio left but we have a pre selling medium rise condo for construction soon.
MOLDEX RESIDENCES IN VALENZUELA: For only 6k per month. Ready for occupancy.
Bathrooms 1
Bedrooms 1-2
Floor area 20-30sqm, floor number 6, floor total 6

AMENITIES:
Lap pool, children's pool, Play ground, Jogging path, Landscaped, Garden clubhouse, Barbeque grill area, Basketball court, Billiard hall

A 'Condo' example:
Total List Price 1,302,442.00
10% down payment 130,344.20
Less reservation fee 15,000
Net down payment 115,344.20
18 months to pay 0% interest rate 6,408.01
90% balance 1,173,097.80
INHOUSE FINANCING 5YRS 16% 28,898.45
INHOUSE FINANCING 10 YRS 19% 21,898.45
BANK FINANCING 20 YRS 9.75% 11,127.03
PAG IBIG FINANCING 30 YRS 9,863.99

Prices are subject to change prior notice.

example picture This might be the whole offer you can see somewhere. But for sure, there are some questions open for a foreigner who might be interested to buy just a place to stay without a partner. Filipino like to invest money for such a unit and rent it later to guests. This way they have already in a nice area a place for their kids to study or to have just a spot for vacation or relatives temporary.

Questions are:
How much do you have to pay every month while the 20 years Bank Financing plan?
Paying 18 months without an interest but the remaining balance increase. Why?
What does the amount behind the interest means?

Let's talk on the next page about the 'Bank loan'

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