(Architect Francisco “Bobby” Mañosa (seated) is shown with his children (from left) Gelo Mañosa, Mañosa & Company CEO, daughter Bambi Mañosa, Interior Designer, and Dino Mañosa, Mañosa Properties CEO.)
Mañosa Properties Inc (MPI) targets second home buyers for its latest master-planned vacation community development in Tagô, Tagaytay City via a shared-ownership solution allowing them to co-own property and cut maintenance costs.
Already, MPI has pre-sold 30 percent of Tagô, a 3-hectare community of 52 single detached homes with a combined worth of over P900 million. The company expects the property to be sold out in two years.
Tago offers two types of classic bahay kubo-inspired residences, with a dozen Ara-al homes worth P22 million per unit and 40 Adobe homes at P15-16 million each.
The 240-sqm Adobe homes occupy 250-sqm lots while the larger 300-sqm Ara-al homes are on 350–400 sqm lot. Both homes have 2 storeys with three bedrooms and a maid’s room.
However, “We discovered that when buying second homes, people are concerned that the amount of time they spend doesn’t justify the investment for purchasing and maintaining the properties,” explained MPI CEO Dino Mañosa.
Hence, they came up with the Fractional Ownership option – a legally divided title deed, owned and shared by more than one person.
Under fractional ownership, three people can equitably divide the time for using the home, as well as the maintenance and upkeep costs according to the size of the fraction they bought.
“Unlike a time share, which offers units of time in a common property, fractional ownership gives you partial ownership of the property itself,” he pointed out.
Tagô homeowners can avail of a unique community management via MPI’s tie-up with the Nurture Wellness Village who will provide services for cleaning their residences before and after their stay.
They can also arrange for regular garden maintenance and butler assistance (in meal service, etc.) whenever occupants are in residence as well as Nurture’s signature Filipino-themed spa treatments.
Fractional owners can save from 50 up to 75 percent on the cost of purchasing, running and maintaining their home.
But MPI will not match random prospective buyers for fractional ownership.
“No one wants to share a home with complete strangers. Fractional owners should already have their group of co-owners in place,” Mañosa elaborated. “Ideally these should be family members or friends with whom you are comfortable sharing a vacation home with.”
MPI can then provide all estate planning assistance for co-owners from incorporation to shared titles.