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Residential condominium units catering to the middle
class are emerging as a favored investment vehicle of a growing
group of entrepreneurs and investors. Counting on the strong demand
for housing by the Philippines’ young population in Metro Manila,
they are purchasing units which they intend to lease out to
newlyweds and young professionals just starting out on their own.
Businesswoman Vicky Ong, for
instance, is confident that the leasing market for units in
well-planned developments will help her build a retirement fund. She
particularly appreciates the good lighting and layout of Avida units
and has purchased four residences in Avida Towers Sucat. Avida is
the affordable housing arm of property giant Ayala Land. She adds:
“I like Avida because it is backed up by Ayala Land. You can
expect quality homes delivered on time.” Ong intends to rent out
some of her units once they are turned over to her.
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