The Rise Makati, located on Malugay Street in Bel-Air, Makati, has been a hotspot for Airbnb investors. But with changing regulations and increasing competition, is the Airbnb gold rush coming to an end, leaving landlords in a tricky situation? Let’s dive in and find out.
Location, Location, Location: Why The Rise Makati?
The Rise Makati scores major points for its prime location. Being smack-dab in Bel-Air puts you right on the edge of Makati’s central business district (CBD). We’re talking a short commute (or even a walk, depending on where you work!) to offices, restaurants, and all the action Makati has to offer. The location is a huge draw for young professionals and expats wanting to be close to everything. It’s also close to Ayala Avenue, one of the Philippines’ most important financial districts.
What Makes The Rise Makati Desirable?
Beyond the location, The Rise boasts a lifestyle appeal that attracts a specific kind of renter and buyer. It’s modern, sleek, and packed with amenities that cater to a younger, more active crowd. Think co-working spaces, gyms, swimming pools, and even a karaoke room! This focus on lifestyle is a big reason why units in The Rise have been so popular on Airbnb. The building aims to offer a complete living experience, not just a place to sleep.
A Look at Unit Types and Prices
The Rise offers a variety of unit types, from studios perfect for single professionals to larger one and two-bedroom apartments ideal for couples or small families. Prices vary greatly depending on the size, layout, and floor level of the unit. Generally, you can expect studio units to start around PHP 5 million, while one-bedroom units can range from PHP 7 million to PHP 10 million or more. Two-bedroom units, being the largest, can easily exceed PHP 12 million. Keep in mind that these are just general estimates; actual prices fluctuate based on market conditions. You can often find properties listed on popular real estate websites to get a sense of current pricing trends.
HOA Dues: What to Expect
Like all condominiums, The Rise Makati has Homeowners Association (HOA) dues. These fees cover the upkeep of the building, including the amenities, security, and common areas. HOA dues at The Rise can vary depending on the size of your unit, but you can generally expect to pay somewhere in the range of PHP 70 to PHP 90 per square meter per month. This is an important factor to consider when budgeting for your investment, as it’s an ongoing expense that can significantly impact your cash flow. Make sure to factor this when estimating profitability.
Commercial Hubs: Convenience at Your Doorstep
One of the biggest advantages of living in The Rise is its proximity to numerous commercial hubs. You’re just a stone’s throw away from Century City Mall, offering a wide range of dining, shopping, and entertainment options. You’re also within easy reach of other major malls like Power Plant Mall and Greenbelt, providing even more choices. The convenience of having these amenities so close makes life at The Rise incredibly convenient and appealing. The area is designed for walkability, allowing residents to easily run errands or enjoy a meal without needing a car.
Safety and Security: Peace of Mind
The Rise Makati takes security seriously. The building has 24/7 security personnel, CCTV surveillance, and controlled access to ensure the safety of its residents. You can expect to see security guards at the lobby, in the parking areas, and patrolling the grounds. This focus on security is a major selling point, especially for those who are new to the city or prioritize safety above all else. The Rise offers a safe and secure environment for its residents.
The Local Demand: Who Wants to Live Here?
The Rise Makati attracts a diverse mix of residents, including young professionals, expats, students, and even small families. The central location, modern amenities, and vibrant atmosphere make it a popular choice for those seeking a convenient and stylish urban lifestyle. The demand for rental units in The Rise has been particularly strong, driven in part by the Airbnb market. The proximity to offices and entertainment venues is a strong appeal for potential tenants.
Airbnb Legality and Feasibility: The Million-Peso Question
This is where things get tricky. The legality of Airbnb operations in condominiums in the Philippines is a gray area. While there isn’t a specific law banning Airbnb outright, many condominium corporations have their own rules and regulations that restrict or prohibit short-term rentals. Whether The Rise Makati allows Airbnb operations depends on the specific policies of the building administration. It’s crucial to check with the management office before investing in a unit with the intention of renting it out on Airbnb. There are often restrictions and requirements such as only allowing rentals of 6-month terms. Failure to comply with building regulations can result in fines or even eviction. The Airbnb “gold rush” is slowing down significantly with more and more regulations.
Potential Rental Income: What Can You Expect?
If Airbnb is allowed (or if you plan on renting out your unit long-term), what kind of income can you realistically expect? Rental income varies depending on the size and condition of the unit, as well as market conditions. As a general estimate, a studio unit in The Rise could potentially generate anywhere from PHP 25,000 to PHP 40,000 per month in rental income, while a one-bedroom unit could fetch PHP 40,000 to PHP 60,000 or more. Of course, these are just estimates, and actual income may vary. It’s essential to do your research and analyze the market to get a more accurate picture of potential returns. Many factors will influence this, including seasonality and market demand.
Pros and Cons: The Rise vs. the Competition
Let’s weigh the pros and cons of investing in The Rise compared to other similar developments in the area. Pros: Prime location, modern amenities, strong rental demand (historically), and convenient access to commercial hubs. Cons: Potentially high HOA dues, possible restrictions on Airbnb rentals, and potentially higher price per square meter compared to older developments. Compared to developments like Gramercy Residences, The Rise offers a more contemporary feel. Versus older buildings like Salcedo Village condos, The Rise offers better amenities. It is important to note that the price reflects these benefits.
Flood and Earthquake Risk: Is The Rise Safe?
It’s crucial to consider potential risks when investing in any property, including flood and earthquake risks. Makati is generally considered to be at moderate risk for flooding, especially during heavy rainfall. While The Rise is not directly located on a major fault line, the Philippines is located in an earthquake-prone region, so seismic activity is always a concern. Recent reports from the Philippine Institute of Volcanology and Seismology (PHIVOLCS) PHIVOLCS is a great way to see general location risk in the Philippines. The building’s construction should adhere to current building codes designed to withstand earthquakes. Investing in earthquake insurance is a wise move, regardless of where you live in the Philippines.
Walkability and Noise Levels: City Living Realities
Living in The Rise offers excellent walkability, with numerous restaurants, shops, and entertainment options within easy walking distance. However, being located in the heart of Makati also means that noise levels can be higher than in quieter residential areas. Expect to hear traffic noise, construction noise, and the general hustle and bustle of city life. If you’re sensitive to noise, consider choosing a unit on a higher floor or one that faces away from the main street. The trade off for convience is often noise.
Connectivity: Getting Around Makati
The Rise Makati boasts excellent connectivity to transportation options. It’s within easy reach of the MRT and LRT stations, making it easy to commute to other parts of Metro Manila. It’s also close to major thoroughfares like Ayala Avenue and EDSA, providing convenient access to other business districts and residential areas. Taxis and ride-hailing services are readily available, making it easy to get around even without a car. Public transportation is easily accessible.
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Nearby Amenities: Schools, Malls, and Hospitals
The Rise is surrounded by a wealth of amenities, including top schools, world-class hospitals, and a plethora of shopping malls. Reputable schools like the Asian Institute of Management and Ateneo Graduate School of Business are nearby. Makati Medical Center is one of the top hospitals in the Philippines, is within easy reach. As previously mentioned, you’re also surrounded by a plethora of malls, including Century City Mall, Power Plant Mall, and Greenbelt. All of these amenities make The Rise a desirable place to live, work, and play.
Frequently Asked Questions (FAQ)
What are the average HOA dues at The Rise Makati? The HOA dues typically range from PHP 70 to PHP 90 per square meter per month.
Is Airbnb allowed at The Rise Makati? This depends on the building management’s policies. It is best to contact the building administrators to verify if it is allowed.
What is the average rental income for a studio unit at The Rise? You can expect to see between PHP 25,000 to PHP 40,000 per month in rental income.
Is The Rise Makati near any major malls? Yes, it is very close to Century City Mall, Power Plant Mall and Greenbelt.
Is it safe to live in The Rise Makati? The Rise has 24/7 security and CCTV surveillance.
References
Philippine Institute of Volcanology and Seismology (PHIVOLCS)
Various Real Estate Listing Websites
Interested in exploring the potential of The Rise Makati? Whether you’re looking for a personal residence or an investment opportunity, now is the time to take a closer look. Contact a reputable real estate agent familiar with The Rise to schedule a viewing and discuss your options. Don’t miss out on the chance to own a piece of this vibrant Makati community!
