Fans of electronic dance music are rejoicing that one of the genre’s most popular DJs, Skrillex, is coming to our shores on September 26, 2015. Skrillex is a DJ, music producer, singer, and songwriter who has won six Grammys over the past few years. And after his successful run in 2014, he can add another notch to his list of accomplishments: millionaire.
In the past year alone, he earned $16.5 million, placing him in 9th place in Forbes list of highest-paid DJs of 2014. While he’s far from claiming top place (that honor goes to Calvin Harris, who made $66 million last year), his 2014 earnings is still substantial, especially when you consider that it actually converts to over Php770 million. This got us thinking: with that kind of money, what kind of property (and how many of them) could he buy should he choose to hang up his headphones early and retire here? Let’s look at high-end houses and condos in four of the most-searched real estate locations in the Philippines.
As the foremost financial district and site of some of the most popular malls and restaurants in the country, Makati understandably has some of the most sought-after condominiums as well, many of which command a price that only a star like Skrillex can easily afford. With units priced as high as Php79 million and as low as Php9 million, the average price of a three-bedroom, fully furnished condo can sell for an estimated Php44.5 million. At that average, he can afford to buy 17 condos in Makati.
If he wanted to live in an ultra-luxurious house in one of the most prestigious addresses in Makati, he might be paying an average of Php566 million for just one home. A 10-bedroom house can sell for a whopping Php 1.1 billion, which he wouldn’t be able to afford at all. He can always settle for 24 lower-priced, 6-bedroom residences, which can sell for Php32 million each.
The boom of Taguig’s business, commercial, and residential landscape over the years has been undeniable, turning the city into the place to be. With the wide assortment of condos catering to the high-end to ultra-high-end crowd, it would only make sense for Skrillex to consider living here. At the higher end of the scale, a three-bedroom, fully furnished condo can sell for as much as Php45 million. On the other hand, a payment of Php7 million is common for the lower-priced condos with similar characteristics. At an average of Php26 million, the world-renowned musician can purchase about 29 Taguig condos.
A five-bedroom bungalow in Taguig can be priced at Php68 million, while a relatively more “affordable” five-bedroom house might sell for around Php7.5 million. This means the superstar DJ can easily purchase about 20 houses in Taguig City at an average price of Php37.7 million each.
Quezon City remains to be one of the most popular places to live in in the country because it contains many of the country’s best hospitals, top universities, and biggest shopping centers. A fully furnished condo with three bedrooms can start from Php4.9 million and go as high as Php10 million, translating to an average of Php7.4 million, so it would be easy enough for Skrillex to buy about 100 condo units in QC.
A five-bedroom house in one of the most exclusive villages in QC carries a price tag of Php265.5 million, while a more “affordable” alternative is an eight-bedroom home that costs Php16 million. Skrillex can be a proud owner of about five houses in Quezon City, with prices averaging Php140.75 million.
Pasay City is poised to put the Philippines on the map as a premier entertainment destination with the emergence of SM Mall of Asia and Resorts World Manila. As a result, many developers have been building condos in the area, bringing up the real estate value of surrounding locations in the city. One developer is offering a bare three-bedroom condo unit for Php20 million, while another unit with three bedrooms is selling for a much lower rate of Php5.2 million. If priced at an average of Php12.8 million each, a total of 60 Pasay condo units could have Skrillex’s name on them.
Of course, Skrillex could go the other way and purchase a total of 20 houses in Pasay if he wanted to. In some cases, a house measuring 1,000 sqm with 10 bedrooms can be priced as high as Php 70 million, while a more modest home could fetch Php6.5 million, leading to an average price of Php38.2 million.
You don’t have to have a multimillion-dollar salary to own a home. Search for your dream property at MyProperty.ph today!
Image courtesy of digboston/Flickr Creative Commons