Sunday, August 24, 2008
Arriva Avida!
Avida Land is making headway with their Makati West project. Located between Yakal and Mayapis street and covering one block, tower one's foundation is complete and they've already started with the ground floor.
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When we purchased our units via pre-selling mid last year, we were told that the 300 something unit tower one is 70% sold out. It was initially offered to Ayala Corp employees. Lucky them! We got a 10th floor unit with a Manila Bay view. It was not an ideal floor for us (currently living on the 18th floor of a condo in Salcedo Village) but what we got is acceptable.
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Our loan in BPI should kick in this month. Seems like they're a bit delayed. Not sure if it's the sales agent's fault or the bank. How much does this delay cost? I was recently told that the annual interest increased from 10.99% to 11.75%. Somebody didn't do their job properly and we were charged additional 0.76%. Only in the Philippines. And the messenger of the bad news even had the gall to lecture me about inflation reason why the interest went up. Anyway, I knew that the situation was similar to a hostage taking (since Avida Land and BPI both belong to the Ayala Corp) and there was no recourse but to pay the ransom.
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The turnover is Y2010. That's 2 full years from now. We're excited to move to our own home. As for now, home sweet home will be at a rented condo in Salcedo Village.
Labels:
investment
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