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Chapter
5 -
Locating to the Philippines
Back
on Track | The
Business Districts
Negotiating
a Commercial Lease |
Residential Properties
Newcomers
to Manila will find a wide range of accommodation
available to suit all tastes and budgets.
Because of the traffic situation in Manila
many people choose to reside in close proximity
to their place of work. Serviced apartments
are often a viable option for a new arrival
- provided of course you have a corporate
allowance to cover the cost. Such apartments
offer full room services similar to the
hotels but with a more personal ambiance.
If your office is located in either of the
Makati or Ortigas business districts you
will have the widest range of options for
living. Depending on family circumstances
and lifestyle you can opt for condominium
or serviced apartment living or a freestanding
house in one of the many secure villages
that surround these areas. Prices in Ortigas
are slightly less than in Makati but in
Manila prices are generally more reasonable
than in many other Asian centers.
Expect to pay upwards of P20,000 a month
for a studio apartment or P35,000 a month
for a three-bedroom unit in a serviced condominium.
You can usually negotiate residential dues
for inclusion in the monthly rent.
For free standing houses prices usually
start from P50,000 upwards although a modern
house with a swimming pool will be priced
at least P100,000 a month or more.
Houses come in all conditions and it is
a wise precaution to check thoroughly before
committing to a lease. Some low-lying areas
of Manila flood regularly in the rainy season
and water supply can be a problem. Check
and double check water supply, electricity
(make sure all outlets work) and inspect
carefully for sign of rodent infestation.
Many
long time residents choose to locate to
Alabang or points in between such as Sucat
and Parañaque where quality accommodation
for rental or purchase is available at much
more reasonable rates - often around half
of Makati prices. Those working around the
port area of Manila usually choose to live
along Roxas Boulevard or environs and here
the choice is really limited to apartment
living. Prices are similar to Makati.
For those on more limited budgets, accommodation
in non secure areas is available starting
from P10,000 a month upwards although you
may need to shop around to find a place
that is in good condition and suitable for
western styles of living.
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Company
Profile
Jones
Lang LaSalle
Jones
Lang LaSalle Incorporated (NYSE:
JLL) is the world's leading real
estate services and investment
management firm, operating across
more than 100 markets on five
continents. With approximately
7,200 employees, the company provides
comprehensive integrated expertise,
including management services,
implementation services and investment
management services on a local,
regional and global level to owners,
occupiers and investors.
To effectively address the local
real estate needs of real estate
owners and occupiers, the Americas,
Europe and Asia Pacific regions
of Jones Lang LaSalle provide
a full spectrum of integrated
services. With a portfolio of
approximately 725 million square
feet (67 million square meters)
of property under management worldwide,
Jones Lang LaSalle is the industry
leader in property and corporate
facility management services.
Supported by innovative products
and services, a strong technology
platform and sophisticated research,
Jones Lang LaSalle is a unique
single source for clients' comprehensive
real estate requirements. Operating
under a single organizational
and ownership structure, Jones
Lang LaSalle takes a unified approach
with its business activities by
using and advancing the best practices
of the world's most innovative
companies to increase value for
its clients.
Capabilities
We operate in three geographic
regions-the Americas, Europe and
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of services to multinationals,
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and investors. Through our Corporate
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activities of investments, corporate
finance, advisory, research and
strategic consulting.
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