Are Memorial Lots Considered as a Real Estate Property in the Philippines?
A memorial lot is bought mainly for the purpose of making it the final resting place of our departed loved ones. But do you know that a memorial lot is considered a real estate property in the Philippines? And when you decide to invest in one, make sure that you do it with known private developers of beautiful memorial parks.
Memorial Lots are affordable type of property investment
Ironically, most types of real estate investments have experienced substantial market expansion for the past years even in the presence of a pandemic. How you choose to invest and how much of an investment you put into a particular property often depends on how deep your pocket is. Young professionals and OFWs find investing in real estate very favorable for them.
A real estate investor considers investing in memorial lots a lucrative business. As it generates very high returns at a very reasonable price. Like investing in other real estate properties such as condominiums or residential units, where your investment grows by the property’s value appreciation or by putting it up on lease. Young Filipino professionals and OFWs, as shown in a survey, are more interested to invest in memorial lots because of their price and value appreciation. They also require the least maintenance.
Real estate property is still the top investment choice for Filipinos not only those in the United Arab Emirates and the Gulf but in other parts of the world. They’re encouraged to purchase memorial lots because of the high capital gains that the market has consistently achieved in recent years.
This is shown in a survey of 10,000 Filipino ex-pats, where 80% of overseas Filipino workers (OFWs) in the region are interested in purchasing other real estate property in the Philippines within the next 12 months.
RELATED: Reasons to Invest in Memorial Lots in South Mindanao
Cost of Memorial Lot Investment
Maximize your profits.
Many business-minded people prefer to invest in real estate and the expanding memorial lot market. The demand is high as it never has been in recent years. Imagine an initial investment of 4 memorial lots that generate a 20 up to 30% value appreciation per year with almost no maintenance cost. Almost 20% of lot investors of Golden Haven are OFWs. For a low capital property, a memorial lot is a proven high-yielding investment.
- Lawn lots
Golden Haven Memorial Parks
Current market selling price:
53,800 pesos
Please take note that the prices of memorial lots vary mainly due to their location. Lots in Metro Manila and other high-end parks are priced higher than those in the outskirts. The closer the park is to the town center, the higher its price.
- Garden Lot or Garden Niche
This is a cluster of 3 or more lawn lots that can accommodate more than six body interments on a 7.5 sqm area.
Golden Haven Memorial Parks in General Santos City Premium Garden Niche 255,000 pesos.
- Family Patio
Golden Haven Memorial Park, Talamban, Cebu
Lot Price with 12% VAT: 1,523,000.00
A family patio has seven adjacent lots, an intimate outdoor space ideal for family gatherings while celebrating the life of our deceased loved ones.
- Mausoleum or family estate
A mausoleum or family estate is a building or structure built on a cluster of lots found in either public cemeteries or private memorial parks. It’s a good investment for those who can afford it, but it may not be a viable option for an average investor because of its price, which starts at 647,000 to millions of pesos.
It’s an area that can cater to underground and aboveground interments.
Mausoleums have an open or closed memorial structure called crypts, which can be used to store human cremated remains, or whole-body burial. Mausoleums are wide enough to accommodate multiple interments as long as they fit into the structure.
Investing for the unforeseen
The number of cemeteries and memorial parks allowed in a city or municipality is based on its population, death statistics, and future catchment areas. A grave space or burial plot is the actual land space permitted under the rules and regulations of the Housing and Land Use Regulatory Board (HLURB) to be used for burial purposes.
A common grave should be 1.6 meters by 3.00 meters inside dimensions. Or 2.5′ x 8′, including both the headstone and the grave.
Just the base price for lawn lots is 200,000 pesos. Garden lots cost 2,000,000.
And estate lots can cost up to 18,000,000.
Should you opt to leave the cremated remains of your loved one in a columbarium, be prepared to shell out anywhere from 46,000 to 240,000.
At need and pre-need lots
At-need lots are memorial lots purchased at the time of urgent need. The stress it entails in shopping for a place to rest while grieving is something you would want your family to spare from. Investing in a memorial lot early can help the entire family deal with the pain of loss.
Pre-need lots are memorial lots bought way ahead. It’s equivalent to buying insurance and paying it in advance.
Memorial lots are easy to sell.
Once fully paid, you get perpetual ownership of the lot you bought. No annual fees, no capital gains tax should you opt to sell it years from now.
You could keep it for yourself or your family for future needs. Or set it aside as an investment that continues to grow in value every year. Investing in memorial lots is a smart financial decision. It will help reduce your family’s possible financial burden in the future and help grow your hard-earned money. This tangible asset can also be used as collateral when you need to avail of a loan.
About the company
Golden Haven Memorial Parks is owned by Golden MV Holdings, Inc., one of the largest real estate companies in the Philippines in terms of market capitalization.
Golden MV Holdings, Inc. builds and operates well-maintained parks, and engages in selling memorial lots in established park locations across the country. Not all memorial parks offer world-class amenities and have well-manicured lots with regularly trimmed grass.
The company remains one of the prominent names in the real estate market. It also builds and operates columbarium facilities, crematoriums, and memorial chapels.
Golden Haven Online Services
Golden Haven is committed to the well-being and safety of its employees and clients alike. So it’s now offering various online services for online payments and other administrative transactions. If you want to settle outstanding bills or schedule appointments, please get in touch for any of your concerns.
Sales: [email protected]
Customer Related Concerns: [email protected]
Payments and Accounts: [email protected]
Final thoughts:
Death is a delicate topic a few members of the family (or maybe more) feel uncomfortable talking about. But whether we like it or not, death is an important, as much as a dreadful aspect of human life. At some point, death shall either take us away or it’ll take a loved one away from us. Either way, nobody would want to add up to his family’s financial burden. So while you still can, what about venturing into a real estate investment?
READ MORE: Golden Haven Memorial Parks News and Update
