The Philippines is currently one of Asia’s fastest-growing economies. While it is considered a newly industrialized country, the service and tourism industries remain integral sectors.
Like the rest of the world, the 2020 pandemic has impacted the Philippines’ real estate market. Condos were becoming quite popular, and prices were rising as the supply shrank. But, the demand for single-family homes spiked once health and safety restrictions were put in place. Though this trend is expected to continue, the spike will level off and demand for condo units will never disappear. Below are the places where condo ownership is common and condo management companies are needed:
Places to live in the Philippines
Quezon City
With a population of about 2.68 million people, Quezon City is the largest city in the Philippines. Located in central Luzon (northeast of Manila), Quezon City was the country’s capital from 1946 until 1972. At that time, the government returned to neighboring Manila. Recently, it has evolved into a tech and information hub. It also has a vibrant entertainment industry.
The location and accessibility of properties in Quezon City are expected to translate to greater long-term value. Given the positive outlook of the city’s economy, coupled with the ongoing developments in the area, it’s safe to say that the value of properties in Quezon City will go up in the future.
Manila
Located on the island of Luzon, Manila is the capital and chief city of the Philippines. Manila is the center of the country’s economic, political, social and cultural activity. There are roughly 1.78 million people who live in the city.
It can be challenging to find a house in Manila, which is why condo and apartment buildings remain popular. Like most cities in the Philippines, property prices have surpassed local wages. However, ex-pats may find the cost of housing relatively affordable, and there are some gorgeous condos in the vicinity.
Makati
Makati is considered a financial hub known for its skyscrapers, shopping malls, and historic landmarks. Roughly 629,616 people live in Makati. It has a large, modern manufacturing complex along its segment of the regional belt highway, and a number of national and foreign firms can be found here. Makati’s Forbes Park sector, called Millionaires Row, houses a lot of foreign residents. This city is very expensive and inaccessible to many born in the Philippines.
One of the best parts about Makati is that it’s a great place to collaborate with local and foreign professionals. The city is walkable, but vehicle traffic can be very heavy.
Popular condo management companies
Condo buildings that are fortunate enough to have a management company oversee operations generally function with fewer glitches. These professionals can help keep the peace, too. These are some of the most popular condo management companies in the Philippines.
Greenmist Property Management Corp.
Greenmist Property Management Corporation (GPMC) is founded on a commitment to provide consistent, first-rate property management service. This company is qualified to care for the specialized requirements of large residential developments. GPMC takes a client-centric approach to property management, and strives to make every owner feel as though they are a part of an elegant and secure environment.
In addition to management of operations and maintenance, GPMC also offers financial services and will perform property audits.
FCP Group Phils., Inc.
FCP Group Phils., Inc. was founded in 2007. The company specializes in the management of condominiums and HOAs. It takes great care to stay on top of the ever-changing government regulations that condominiums are required to follow. It also works hard to follow best practices in community management.
FCP always establishes a healthy balance between the board, owners and management team. It takes a proactive role in ensuring condos are well-maintained, financially sound and efficiently managed. It offers a full range of financial, administrative and property management services.
Hospitality Innovators, Inc. (Hi!)
Hospitality Innovators, Inc., or “Hi!” for short, has been providing personalized experiences and the best in hospitality for over 20 years. In addition to boutique hotels and resorts, Hi! also manages residential properties geared towards students, families and young professionals. The condos that it cares for are strategically located near universities and business centers around Manila.
Hi! is committed to providing reliable management and professional administration services to condo communities. Hi! works closely with the Board of Directors to ensure finances are healthy, rules are followed and buildings are clean and maintained.
KMC Savills
KMC is a leading full-service real estate solutions provider. It offers a wide range of services, including tailor-fit property management services and turnkey solutions.
The company has a strong track record in property management, with a managed portfolio that includes major high-rise buildings and Grade A properties in premium locations. KMC is proactive, and uses local data and trends to anticipate changes and prepare for the future.
Goldcrest Property Management Group
During the 1986 economic downturn, Crestito C. Carolino, a former building administrator, decided this was the time for a big change. Mr. Carolino upgraded his credentials and then formed Crest Realty in 1988. The company has grown tremendously since that time, and today, the Goldcrest Property Management Group oversees a number of properties across the Philippines.
H&D Group of Companies, Inc.
H&D Group of Companies is a duly registered Filipino entity engaged in providing full service, professional property and facilities management solutions. It launched back in 1968, and has established itself as a premier exporter of Philippine-made household accessories to the United States and Japan. After the EDSA revolution, the company ventured into building administration and property management.
H&D can confidently provide full service, day-to-day operations and management to condominium associations. Marketing operations, budget preparation, community relations, utility services management and building maintenance are all services that this company will happily offer.
First Oceanic Property Management
First Oceanic Property Management (FOPM) oversees a diverse collection of property assets all over the Philippines. Founded in 1994, FOPM was originally called Oceanic Realty & Property Management Services, Inc. The name was changed in 2005 with the purpose of strengthening and reinforcing their customer-centric management style and experience.
Currently, the company cares for 250+ residential condominiums and office buildings, 53,000+ residents and 200,000+ office employees.
FOPM aims to deliver a mixture of security, prestige, affection and comfort (with an economic edge) to each community it serves.
Bonus: Self-Managed Condo Buildings
Condo managers are fantastic, but not every condo community can afford to bring on a full-time manager. If that’s the case, communities may want to consider investing in condo management software. User-friendly platforms like Condo Control allow boards to engage in communications, track service requests, create detailed unit files, document violations, and much more. It’s a simple solution that helps communities streamline tasks and save money.