Frequently Asked Questions (FAQs)
Bare units are condominium units that still need to be finished with tiles, cabinetry, and maybe a partition that separates the bedrooms from the living/dining/common area. This gives you the power to choose the design that is best for you! Here you can select a layout and what size of a room you want it to be. The kitchen sink, the bathroom toilet, and bathroom sink and shower fixtures are included in the purchase.
To "finish" a unit, it is done by a contractor/interior designer, you have the option to select your own contractor or avail the services of our accredited contractor: One Draft Design
The average cost for basic design ranges around 240K-400K depending on the quality of materials used and speed of the renovation.
Finished units are condominium units where you can move-in immediately since there are already walls that separate the bedroom(s) from the living/dining areas and tiles for the rooms and the bathroom. All you have to do is move in with the furniture and you're all set!
Finished units are applicable for Buildings/Condo Projects that are Ready-for-occupancy
These are projects that are being sold before construction even starts, which usually finishes after 3-5 years form launching. This is a long-term investment and is most cheaper than ready-made properties and can be sold with high-yield returns.
RFO properties are much more expensive because they are already built, depending if it's finished or bare, you can move-in as soon as possible!
Also known as: "Lifetime Ownership"
Yes! We offer Perpetual ownership for the properties listed on this website. In comparison to other developers, they only offer leasehold ownership which means after a certain amount of time (usually 50 years) the land that the structure stands on may need to be sold or repurposed, losing your home. This does not usually happen for Lifetime ownership contracts, depending on the economy when a certain time lapses.
Rent-to-own is a commonly misunderstood term. It can differ in meaning depending on the status of a project.
If a condominium project is pre-selling, a rent-to-own payment scheme is applied for the downpayment, where you pay two months in advance, and the rest of the downpayment is paid in installments usually starting at around 8,000 a month. But since the condo is pre-selling/under-construction you cannot live in it yet, so technically you're not renting it, it's just that the payments you make is similar to a rental property.
If a condominium property is RFO, you're actually renting-to-own it, where the initial payment required to move-in immediately is 5% of the unit's price (or starting at 165K) in most cases. After the huge downpayment, the monthly payments come after which then may be similar to a rent-to-own payment scheme but you may be living in the condo already.
For both cases mentioned above, the monthly payment would increase after the downpayment has been finished. This is caused by transitioning to the second phase of payment which is the payment method for the balance could be financed with in-house financing or bank financing.
You can loan from a bank to pay the remaining balance of your unit. Our accredited banks include (but not limited to) BDO, Chinabank, PNB Savings, UCPB.
Our company offers in-house financing for those unable to avail bank financing (like foreigners, etc.) interest rates start at 10% for 5 years.
You can find them here: https://victoriamanila.com/reservation-requirements/
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