Park Terraces Outlines
Makati’s finest property worthy of the Ayala Premium name.
Image taken by our staff. 1 Bedroom, 72 square meters, 22 million pesos ($402,000) type
|Property information in 1 minute|
|Property Name||Park Terraces|
|Assumed Rent||Studio type 55,000pesos〜|
|Number of Floors||53 floors|
|Total number of houses||388 houses|
Location of Park Terraces
Address:Park Terraces, San Lorenzo, Makati, Metro Manila, Philippines
Area Info:Surrounded by 5 huge shopping malls such as “glorietta”, “SM Makati”, the Philippine version of “Aeon Mall”, “Greenbelt”, and “Greenbelt”. The building is located in the middle of the city. The Skywalk (pedestrian walkway) provides comfortable access to the business district.
Surroundings:SM Mall and LandMark huge supermarket are both within 5 minutes walking distance. There are more than 10 mega-malls in the neighborhood, so everything is available, including dining, shopping, beauty, massage, and movies. On the rooftop of the adjacent “glorietta” shopping mall, there is a Japanese restaurant area called Japan Town.
The glorietta also houses the famous Mos Burger and Gyudon restaurants in Japan. It would be hard to find a better location for Japanese people.
Park Terraces Amenities
24-hour manned management, lobby, swimming pool (with pool for kids), outdoor children’s playground, direct phone line to front desk, gym, sauna, steam sauna, meeting rooms, elevator, parcel delivery service
Due to the high percentage of foreigners, many residents keep their homes open, and common facilities, lobbies, etc. are relatively always available.
Park Terraces’s special features
- Relatively large number of Japanese: Compared to neighboring condominiums, the percentage of Japanese is large (but still small compared to the overall percentage)
- High security: Elevators cannot go to your floor unless you hold up your card key, guests must leave their ID at the entrance and fill out an entry list
- High age and quality of residents: The volume zone of residents is from late 30s to 50s. Many are married couples or one-person households, and there are not that many with children. Many residents are calm, and the main lobby is basically quiet.
The properties themselves are quite calmly designed, and the interiors are simple and similar to those in Japan.
Park Terraces’s special features
- No elevators for high-rise floors: There are no elevators for high-rise or penthouse floors. 4 elevators per tower.
- Direct access to supermarket: The building has a direct underground connection to the “Landmark” shopping mall, which has the largest supermarket in the area, so you can shop without getting wet even on rainy days.
- Cost of living in the area is equal to or higher than in Japan: Many first-class shopping malls are located in the area, and prices at restaurants, cafes, and supermarkets are the same as or higher than in Japan. You cannot expect to live at the local price level.
- Security in the area is excellent: There is a dog run and park run by Ayala with a plaza in front of it, but it is impossible to sit on the benches at 10:00 p.m. There are many hotels, shopping malls, and banks in the area, and 24-hour security is played.
In Philippine condos, security inside the building is often good, but the surrounding area is often unsafe. In this respect, Park Terrace has a very safe neighborhood, and you can walk around safely even at night.
Park Terraces Reviews
Park Terraces is a property to be gutted for the long term.
With a pool sauna and a 5-minute walk to Japanese food, it is an excellent choice for residential use. I would recommend this property to expatriates with company-owned rent and families. However, you should be prepared for the cost of living to be comparable to Tokyo.
Capgain (gain on sale): Some properties have increased in value more than three times since the pre-build stage, and are expected to increase in value in the future. The developer is Ayala Land, so you can rest assured that repairs will be carried out safely, and the property’s unbeatable location is a strong source of added value.
Income Gain (rental income): The estimated rent is from 55,000 pesos, so most of the tenants are expected to be foreigners. 90,000 pesos or more for 2 bedrooms and above limits the number of tenants who can afford the rent, In order to attract customers, it may be necessary to make some small adjustments to make it easier for foreigners to rent, such as renting fully furnished apartments.
Park Terrace is representative of a property that can be held for 10 years with peace of mind, and would be the first choice for a long-term holding premise.