Frequently Ask Questions
Who should I contact to visit or purchase a property?
A Licensed Real Estate Salesperson/Broker can help you with the acquisition of property. I am MONIQUE ONG, Sales Manager, and have the license to sell properties. I am directly affiliated with Megaworld Corporation and you can call or message me at (+63) 956 788 7034 so I can assist you. I will be happy to provide you the complete details and computations. I can give you a free consultation so you will be more aware about this investment. We can schedule a meeting, showroom visit, and site viewing so I can discuss everything clearly and answer all of your questions
Are Megaworld Makati condominiums freehold?
Yes, Megaworld Makati condominiums are freehold which means it is entitled for perpetual/lifetime ownership. You will receive a CCT(Condominium Certificate of Title) after the turn-over when the title has already been processed by the government.
Can I name the property under a company?
Yes, a condominium can be owned under a Company which was incorporated here in the Philippines. This will be considered as a Local account and you just have to provide the complete requirements.
Can foreigners acquire property in the Philippines?
Yes, foreigners can own a condominium in the Philippines. The Condominium Act of the Philippines, R.A. 4726, states that foreigners are allowed to acquire condo units and shares for up to 40% of the total capital stock of a Filipino owned or controlled condominium corporation. For full details regarding this matter, read: https://lawphil.net/statutes/repacts/ra1966/ra_4726_1966.html
For land ownership, No. However, there are cases on which they allow foreigners to acquire a piece of land as long as it's not outright 100% ownership. The simplest of which is having a Filipino spouse and the Filipino is registered as the principal owner. Another way is to have an existing corporation or partnership that is at least 60% Filipino owned makes it entitled for the buyer to acquire land in the Philippines.
How much are the association dues?
Association dues varies per development and location. In Makati, the average rate is around P100 per square meter and this will be discussed to the owner/s during inspection or turnover of unit. For further details, kindly consult this matter with your property consultant or direct your concern/s to the Megaworld Makati Customer Service.
Can I redesign my unit interiors prior turnover?
Any desired renovation or redesigning of the unit’s interior can be made as long as it is approved by the property management AFTER the unit has already been turned over to the owner.
Can I sell or transfer the property even during the pre-selling stage?
Yes, this is possible and there is an assignment fee for the transfer of property. Any changes in the ownership will have a transfer/assignment fee. The account must be updated (all amounts of dues are paid prior with the decision to sell) and the owner must provide necessary documents, all subject for management approval.
Are there any hidden charges and fees on or after turnover?
In Megaworld, there are no hidden charges or closing fees since the price given is already VAT (Value Added Tax) inclusive. The “taxes and fees” to the government such as the real estate tax, documentary stamp tax, registration fee, transfer tax, processing fee, electricity & water deposit, and move-in fees will just be around 3-5% of the net contract price.
How to reserve a unit?
Once you have decided on the exact unit/s and payment option you want to avail, to reserve;
1. Sign completed Request for Reservation and Offer to Purchase (to be provided by us)
2. Sign and accomplish the Buyer's Information Sheet (to be provided by us)
3. Submit a copy of at least one (1) government issued identification card (I.D).
4. Pay respective reservation fee/s thru cash, check, credit card or wire transfer of Php50,000 per unit (company bank account for wire transfer to be provided by us)
What are the modes of payment?
We accept cash, cheques, cash deposits, wire transfer and credit card (applicable for reservation fee only) payments.
For Cheques and Cash payments:
Only US dollar & Philippine peso currencies are accepted.
Cheque(s) should be payable to MEGAWORLD CORPORATION.
For Cash Payments:
We can give assistance to client wherein they can pay directly to our Accounts Management Department (AMD) of project in-charge located at: 17th floor, Accounts Management Department, Alliance Global Tower, 36th cor. 11th Avenue, Uptown Bonifacio, Taguig City, Philippines
For Wire transfer/Deposit payments:
For Credit Card payments
Applicable for reservation ONLY.
Mastercard and Visa Cards are accepted.
American Express, Diner’s card & Debit card are not valid.