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An In-Depth Look at SMDC Sail Residences at Manila Bay Area, Philippines


Everyone’s dream is to live in a luxurious waterfront home. But Singapore properties of similar distinction can cost a bomb, and are most of the time, way out of reach for many Singaporeans. One way we can fulfil this dream is to look elsewhere for overseas properties, whether to turn them as our vacation home or rent them out for investment.


A prime example of a modern luxury high-rise residential development that takes inspiration from waterfront living is Sail Residences at Pasay City / Manila Bay Area. The project is developed by SM Development Corporation (SMDC), one of the country’s most well-known real estate developers.


Manila Bay Area


Sail Residences is located in Metro Manila’s Bay Area, the western part of Luzon, bounded by Metro Manila and the province of Cavite. This part of the Philippines’ capital city houses top-tier casinos, making up the region’s Entertainment City, also known as the Las Vegas of Asia.

Source: www.officialgazette.gov.ph


The area’s burgeoning business is largely influenced by the influx of foreign investors, more particularly the Chinese connected to the Philippine Offshore Gaming Operators (POGOs).


With the recent developments in the area, experts predict that by year 2022, the Manila Bay area to rival Metro Manila’s Makati City, Bonifacio Global City in Taguig and Ortigas Center in Pasig City in terms of investment opportunities.


Experts also noted that land values in the Manila Bay area grew 28% year on year from 2010 to 2018.


By the first quarter of 2019, Manila Bay area was named the third-largest residential market in Metro Manila, accounting to nearly half of all new completed condominium units.


Accessibility


Sail Residences is strategically situated near three of Metro Manila’s major thoroughfares - Gil Puyat Avenue, Roxas Boulevard, and Epifanio de los Santos Avenue (commonly known as EDSA), travelling to the city’s prime central business districts, Makati City, Bonifacio Global City in Taguig, and even Quezon City is a breeze.

MOA Complex / Source: www.rappler.com


Located about 800m away is the Mall of Asia (MOA) complex. Besides branded shops and restaurants, the MOA offers a host of entertainment features for both leisure and educational purposes. It had the first ever IMAX theatre in the Philippines and has an Olympic-sized ice-skating rink, concert grounds, an amusement park, Science Centre, and Convention Centre.


It is also highly accessible to some of Manila’s cultural institutions, such as the Cultural Center of the Philippines and The National Museum.


Amenities


The waterfront living experience happens once you arrive at the development. The expansive lobby is decorated with fixtures and furniture mimicking the soothing motion of waves. Spacious and charming, the lobby is a wonderful place to come greet visitors or spend time relaxing in.


Living at Sail Residences of SMDC offers the experience of modern luxury island resort living through nature-inspired hues of sandy whites and ocean blues. Its architectural elements are reflects the fluidity, the crest and the fall of a wave, thus giving you the relaxing and tranquil atmosphere waterfront living.


There are so many amenities to enjoy in this development. There are relaxing pool areas where you can lounge at your pleasure, or go for a relaxing swim. For the fitness enthusiast, you can enjoy an early morning jog outdoors or work out in the state-of-the-art gym.


For relaxation, take a meditative walk in the manicured gardens of the Pacific Park or relax by the still waters of the Serenity Pool, or take a dip in the Deluxe Jacuzzi. For more intimate celebrations, there are designer cabanas poolside and the Tropical Clubhouse for functions and events. For families with young children, there is a children’s play area to keep the kids entertained.


Available in 1- and 2-bedroom units with generously allocated floor areas, this is a foreign property investment worth looking at.


Buying Process


As of writing, Sail Residences is a pre-selling project, expected to be completed by May 2023. Interested investors may pre-book condo units by paying a reservation fee (to be deducted from the original retail price). As with any other countries, you will be required to provide IDs, along with the reservation documents.


After this initial payment, there will be a documentation process. Around 30 days after that, the investor is to provide a 15% down payment, which can be paid in 52 months.


Why Foreign Investors are Looking at Philippine Properties


The Philippines is South East Asia’s second most populous country with over 100 million people and amongst the region’s fastest growing economy. Many investors are looking at not only the real estate market, but they are also buying stocks, and starting businesses there.


Aside from the Philippines being named the world’s top housing market in March 2020, foreigners look to invest in the country because they can legally own condominium units, apartments, or part of any multi-storey building. The only limit is that the total number of foreign-owned units in a single building cannot exceed 40%. Land ownership is reserved for local citizens only.


When it comes to financing your investment, a handful of Philippine banks allow foreigners to get a loan albeit limited. Foreigners may need to show proof that they plan to stay in the Philippines for a long period of time. Alternatively, foreigners can avail of loans from banks from their home countries.


The Philippines also offers one of the lower prices for real estate compared to its neighbour countries, while rental yield is among the highest in Southeast Asia (from 6% to 10%).


One thing to note: taxes and other transaction fees are often charged on top of the property selling price. This includes but not limited to Documentary Stamp Tax, Transfer Tax, and Title Registration Fee.


If you're looking to invest in overseas waterfront homes, Sail Residences at Pasay City, Philippines is the perfect investment opportunity for you. To learn more about the property and get in touch with their developers, click HERE.

 

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