Why did Victoria Sports Tower Monumento’s prices increase?
Price Increase
On January 6, 2021, the lowest price of a studio unit in Victoria Sports Tower Monumento went up from ₱2.7 mil to ₱3.6 mil, or in the down payment's terms, from ₱7,360 to ₱9,500 per month for 72 months (or 6 years).
There are three reasons for this.
- Other fees increase from 7% to 8%
- 12% Value Added Tax - previously, the Net selling price of a unit (price after discounts) where the value-added tax is applicable was at around ₱3,200,000 meaning any condo property below that number doesn't qualify for value-added tax. Due to the TRAIN law and other tax policies implemented by the government, the number has been lowered to just ₱2,000,000
- 10% Price increase implemented by the management for Victoria Sports Tower Monumento due to high demand and decreasing supply of the pre-selling condo.
The early-bird investors are very lucky to take advantage of such a very good deal early on.
It's never too late for you! The real estate industry remains resilient in the face of the economic downturns caused by the Covid-19 pandemic. It is expected that the price of a unit at Victoria Sports Tower Monumento will rise up to a conservative estimate of ₱5-6 million by 2027, looking back to the history of property price increases, I mean, it just went up almost a million 4 months after it's launch. So even if you purchase now after the January 6 price increase, your investment is still poised to be profitable in the long run!
Your Investment
Victoria condos are known to be pet-friendly and allow unit owners to use the units as a rental and/or for Airbnb, so you can use this investment and generate passive income when the tourism industry returns to its former if not a better contributor of the economy.