✅ General Condo Buying FAQs in Iloilo

• What are the best pre-selling condominiums in Iloilo City right now?
  Currently, top pre-selling options include Firenze Residences and The Pinnacle. These are located in prime areas like Iloilo Business Park with flexible payment terms.

• How much is the reservation fee for a Megaworld Iloilo condo?
  The standard reservation fee is ₱25,000, deductible from the total contract price.

• What are the financing options available? (In-house, bank, PAG-IBIG?)
  You can choose from in-house financing, bank financing, or spot cash. PAG-IBIG is not available for Megaworld condos.

• Can foreigners buy a condominium in Iloilo?
  Yes, foreigners can legally own condominium units in the Philippines.

• Is it better to buy a condo in Iloilo now or wait?
  Now is the best time to buy, especially during pre-selling, when prices are lower and payment terms are more flexible. Iloilo is on an upward growth trend, especially in business and tourism.

• What is the average price of a 1-bedroom condo in Iloilo Business Park?
  A 1-bedroom unit typically ranges from ₱7 million to ₱12 million, depending on the tower, view, and floor level.

• Are condo prices in Iloilo increasing? What’s the trend?
  Yes, prices in Iloilo Business Park have been steadily increasing, with an average appreciation of 6–10% annually over the past few years.

• How much is the monthly amortization for a condo in Iloilo?
  It depends on the total contract price and payment term. For a ₱7M condo, expect around ₱17,000–₱30,000/month during the equity period.

• Can I reserve a unit even if I’m currently abroad?
  Yes, many buyers reserve units online via email or chat and pay the reservation fee through bank transfer or credit card.

• How do I choose the best condo unit for investment?
  Look for units with amenity views, high rental demand, proximity to commercial areas, and corner layouts. Consult a trusted agent for guidance.

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✅ Iloilo Business Park–Specific FAQs

• Why is Megaworld Iloilo Business Park a good investment location?
  It’s a prime investment location due to its “live-work-play-learn” township model, strong economic growth as a major business district, and a track record of property value appreciation.

• What are the current projects available in Iloilo Business Park?
  Active projects include Firenze Residences, The Pinnacle, Belmont Hotel Iloilo, and International Corporate Plaza (ICP).
  Ready-for-Occupancy units (Move-in Ready) are also available.

• What’s the difference between Firenze and The Pinnacle?
  Firenze has a more Italian-inspired, boutique design with lower density per floor. The Pinnacle is a high-rise with larger unit selections and panoramic views.

• Is the International Corporate Plaza for residential use?
  No. ICP is a purely office building, ideal for businesses, law firms, clinics, and startup offices.

• What commercial or lifestyle establishments are near these condos?
  You’re steps away from Festive Walk Mall, Richmonde Hotel, BPO towers, restaurants, parks, and the Iloilo Convention Center.

• How close is Iloilo Business Park to the airport or seaport?
  The airport is about 25–30 minutes away by car, and the seaport is 15–20 minutes away, depending on traffic.

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✅ OFW Buyer–Friendly FAQs

• I’m an OFW. Can I buy a unit even if I’m not in the Philippines?
  Yes. OFWs can purchase units remotely. Everything can be done digitally—from viewing units to submitting documents.

• What documents do I need to submit if I’m buying from abroad?
  You’ll need a valid ID (preferably two) and a filled-out buyer’s info sheet. We’ll assist you in every step.

• Can I pay the reservation fee from overseas? What’s the process?
  Yes. You can pay via cash, check, bank transfer, credit card, online payment app, Paypal, or GCash (via a representative). We’ll guide you through secure payment channels

• Can I assign a family member to transact on my behalf?
  Yes. A family member or friend can act as your representative with an authorization letter from the buyer.

• Do you have sample computations I can review online?
  Yes. We can send customized sample computations through email or WhatsApp or Viber, based on your preferred unit and payment scheme.

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✅ Short-Term Stay / Rental Investment FAQs

• Can I use my Iloilo condo for Airbnb or short-term rentals?
  Yes. Megaworld condos are Airbnb-friendly, and short-term rentals are allowed unless the condo corporation decides otherwise later on.

• What is the expected rental income from condos in Iloilo Business Park?
  A studio unit can earn around ₱25,000–₱45,000/month, while 1-bedroom units may fetch ₱30,000–₱60,000/month, depending on furnishings and location.

• Are there property management services available?
  Yes. We can connect you with rental property managers (company or individual) who can handle guest bookings, turnovers, and unit maintenance.

• What are the condo dues and other monthly fees?
  Condo dues are typically ₱120–₱150/sqm/month, depending on the building. These cover security, maintenance, and use of amenities.

• Is parking included with the unit?
  Parking is sold separately, but you may opt to buy a slot or rent from another owner. Some towers have limited parking availability.

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✅ Reservation & Ownership FAQs

• How long does the reservation last after payment?
  Your reservation is valid for 30 days, giving you time to submit requirements and sign the Reservation Agreement.

• When will I start paying my monthly amortization?
  Amortization begins 30 days after reservation, unless you request a later start date (depending on the developer’s policy).

• Can I transfer my reservation to another person or unit?
  Yes, but it’s subject to developer approval and may involve minimal processing fees or contract adjustments.

• Is there a penalty for missed monthly payments?
  Yes. Late payments are subject to minimal penalty charges, and failure to pay consistently may result in cancellation of the unit.

• When will the condo be turned over to me?
  Turnover depends on the project’s timeline. For pre-selling, expect 2–4 years from purchase. Exact turnover dates are in the contract.

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✅ Legal and Tax FAQs

• What taxes and fees do I need to pay when buying a condo?
  You’ll need to pay Documentary Stamp Tax, Transfer Tax, Registration Fees, and Notarial Fees upon turnover or full payment. In general, these should amount to approximately 4% to 5% of the Total Contract Price (TCP) of the unit.

• Are there additional costs after turnover?
  Yes. After turnover, you’ll need to pay real property tax (RPT) annually and monthly condo dues.

• Can I sell my condo before it’s turned over?
  Yes, you can. This is done via Rights Assignment or Deed of Assignment, depending on developer policies. Some fees and restrictions may apply.

• What documents will I receive upon full payment?
  You’ll get the Condominium Certificate of Title (CCT), Tax Declaration, and official receipts once all obligations are cleared.

• How long is the legal life of a condominium building in the Philippines?
  Under Philippine law, a condominium has a projected lifespan of 50 years. After that, if the structure is no longer viable, the unit owners may vote to renovate, redevelop, or sell the property collectively.