The Milano Residences Outlines
The one and only property by Versace
|Property information in 1 minute|
|Property Name||The Milano Residences|
|Assumed Rent||Studio type(26 Sqm) 25,000pesos~|
|Number of Floors||53 floors|
Location of The Milano Residences
Address: Kalayaan Ave, Makati, Metro Manila, Philippines
Area Info: Located in Century City within Poblacion. Poblacion is a busier area at night than during the day, and the adjacent Burgos area is crowded with many tourists and locals. There are many local-like markets, cafes, and private stores in the surrounding area, where you can also enjoy the local lifestyle.
Surroundings: Chinese supermarket (convenience store), 7-Eleven, and several Chinese restaurants are located directly below the building. Right next door is Century Medical Makati, a 24-hour general hospital, and Century Mall, a large, upscale mall. Perhaps the best feature of the building is that it is only a 5-minute walk to P Burgos Street, one of the best drinking streets in the country.
Century City itself is a fairly compact city with everything you need, so you can get most things done within a 5-minute walk.
The Milano Residences Amenities
24-hour manned management, lobby, swimming pool, gym, sauna, steam spa, juice bar, parking, library, meeting rooms, elevator, package delivery service
Elevators are secure in the building, for example, you cannot go to your floor unless you hold up your card key.
The design is by Versace, so the library and pool are very elaborately decorated. Even the restrooms in the lobby common area are stylish.
The Milano Residences’s special features
- The number of Chinese: According to a local broker, 50% Chinese, 20% Westerners, and 30% others, but the experience is that 70% of the residents are Chinese.
- Young age range of residents: The volume of residents is in their 20s to 30s.
- There is a hotel in the same building: SIGLO SUITES, a 4-star hotel, is located in the same building, and hotel guests can also use the sauna and swimming pool.
Since the hotel is in the same building, all staff speak a high standard of English. On the other hand, there were quite a few times when residents did not speak English.
The Milano Residences’s special features
- Exclusive elevators for penthouse floors: 8 elevators, 1 of which is for the penthouse floors.
- Many residents have a high sense of style: You can often see residents wearing Versace pajamas and other trendy brand-name goods.
- Many residents have pets: The apartments themselves are pet-friendly, and many residents seem to have cats or dogs.
It is a different atmosphere from the residents of the nearby Trump Tower and Century Spire (condos decorated by Armani) by the same developer, and is an attractive condo that will attract a core group of fans.
The Milano Residences Reviews
The Milano Residence has the potential to turn into a great property.
The property is recommended for single aristocrats due to the high taste of the property and its access to the drinking district. It would be a good idea to stay at a hotel in the same building once before purchasing the property.
Capgain (gain on sale): Due to the uniqueness of the property and the youth of the residents, this property is likely to benefit greatly from the increase in the number of wealthy people due to future economic growth. When purchasing a property as an investment, Studio type or 1 bedroom smaller properties would be more suitable because the residents are young and many of them are singles or two-person households. (Conversely, we do not recommend larger properties with 3 bed rooms or more for families.)
Income Gain (Rental Income): When renting out the property, most of the tenants are expected to be foreigners (mainly Chinese) due to the interior design. The image is that many households move out at the end of the contract period rather than living in the property for a long, long time. Due to the large number of single occupancy households, the property is recommended to be rented out as fully furnished. Also, since the properties themselves are very popular, it may be acceptable to renew the lease for 6 months at a slightly higher rent than the market rate (usually renewed for 1 year). If you choose a management company, you should choose one that has Chinese-speaking staff.
I have the impression that this is not a property that you want to buy for your first shot at real estate investment, but rather one that you want to include in a portfolio of multiple real estate assets, betting on its potential to become a big player in the future. I think it could be the first property for a single aristocrat to live in.