Affordable Rent to Own House in Paranaque

 

BACK

 

 

A ‘resdiential city’, Paranaque has some of the most varied prices of houses for sale. In 2016, prices in the city ranged from as little as Php3.15 million for two-bedroom homes, to as much as Php15.8 million for a house with four bedrooms.

Paranaque is well known for being the location BF Homes, which is considered as the largest subdivision in Asia. The residential development covers not only portions of Paranaque, but also Las Pinas, and Muntinlupa.

The city is known as the Novena Mecca of Metro Manila, mostly due to the fact that the Redemptorist Church in Baclaran garners thousands of devotees every Wednesday for the novena mass.

It is also home to one of the several terminals of the Ninoy Aquino International Airport, while most of the other terminals are located on the border of Pasay and Paranaque.

 

 

A City of Many Names

Paranaque is located south of Metro Manila, and is often frequented due to the presence of the Ninoy Aquino International Airport within its borders. Its name was originally Palanyag, which translates to “my beloved”.

Other accounts say the city’s name comes from the term palayan or palalayag, both of which translate to the rice fields and the fishing industry, respectively. These resemble the industries that the people of Paranaque used to work on in the past.

Another supposed origin tells of how the name came from Spanish phrase, Para aniya aqui, which is said to have been derived from an exchange between a Spanish soldier and a Filipino driver of a horse-drawn carriage, where the former was trying to ask the driver to stop, but the latter, not understanding what the other was saying, kept prodding his horse forward. The onlookers repeatedly told the driver the said phrase, until it stuck. Interestingly enough, when commuters ask drivers to stop at their destinations, they more often than not shout para out loud, signalling their intention to get off the vehicle.

Paranaque is also known as the mecca for novena goers all around the country, as a result of its being the location the Redemptorist Church. Specifically situated in Baclaran, the church receives thousands of visits from devotees who flock to the church every Wednesday for the novena tradition.

For others, Paranaque City is an urban jungle, with some of the largest residential areas in the county. It is the location of the largest subdivision in the Asian continent, BF Homes. It is but one of the many villages in the Paranaque area. The entire village spans 3 nearby cities: Paranaque, Las Pinas, and Muntinlupa. Founded by Don Tomas Aguirre in 1968, BF Homes has become a self-contained community that houses thousands of residential homes, several schools and malls, as well as a plethora of bars, restaurants, and other establishments.

 

Rent-to-Own House in Paranaque

As mentioned, there are a lot of residential areas in Paranaque. BF Homes alone houses at least 80 residential subdivisions that may cater to the middle to upper class individuals or families seeking to rent a house with the purpose of ultimately owning it for themselves.

Prices of rent-to-own houses in Paranaque, of course, continues to vary depending on both the location of the houses and their size and features. Houses in middle to upper class subdivisions and villages, such as BF Homes, may be more expensive than houses located in other areas. For instance, a four-bedroom house in BF Homes would go for around Php 9.8 million, while a three-bedroom home in Don Bosco is priced significantly lower at Php5.3 million

Other factors that should be taken into account in selecting a house to rent in the Paranaque area is its proximity not only to the main road, but also to the various facilities that the city has to offer. For instance, one may look for a house in the areas close to the airport or to the South Luzon Expressway. Others may also opt to rent a house in BF Homes to gain access to gates leading to Muntinlupa or Las Pinas. When renting-to-own in Paranaque, home seekers can expect rates of Php 22,000 to Php 100,000 per month, which like overall for-sale prices, depend on the size and location of the home, as well as the conditions agreed upon with the seller.