3 MIN READ
Richard pulled out his phone mid-tour and showed me his old apartment.
Two floors. Two bedrooms. 1,400 square feet. On the water in Long Island, New York. The kind of place you work your whole life to afford.
He was paying $5,400 a month for it.
In two years of rent he spent $128,000. Just on rent. Before food, before going out, before anything else. He sat with that number long enough and made a decision.
That is why he is here.
What BGC Actually Costs
Richard is looking at two-bedroom units in BGC between $800 and $2,000 per month. We spent a full day touring five different units across Serendra, Sequoia, Meridian, and Park Triangle.
The renovated unit in Sequoia with brand new finishes, a built-in oven, and an inverted AC — $1,200 per month after negotiation on a two-year lease. The Meridian unit on High Street with park views overlooking Track 30th — same price range. The Serendra unit at 85 square meters overlooking SM Aura — $1,400 per month.
Every single one of them is a fraction of what he was paying in New York.
When I pointed that out Richard said it simply.
I spent over $128,000 in two years of rent in New York. That is why I am here.
What He Is Looking For
Richard is not here to downsize. He wants a renovated unit with quality finishes. Close to malls, restaurants, and medical. A base he can leave from whenever he wants — flights to Thailand, Bali, South Korea — and come back to knowing everything he needs is right there.
He described BGC in one line. It is like living back in New York. You have everything you need in a small area.
The difference is he is saving $3,000 a month doing it. That $3,000 does not sit in a savings account. It becomes island trips. Dinners out every night without watching the bill. The retirement he spent decades building toward but could never quite afford while writing New York rent checks.
Why He Did Not Do It Alone
Richard had been to the Philippines before. Spent a month here on his own. He still came back and got help.
He said it directly. Doing it by yourself you are going to do a lot of trial and error. I did not know how to get a foreign bank account. I did not know the ins and outs of extending a visa. It is good to have people you can depend on who actually live here.
While Richard was walking through units our team was already preparing letters of intent on his top picks and planning lease negotiations around his two-year term to drive the rent down further. He does not have to figure any of it out alone.
What He Said at the End of the Day
After five viewings Richard had narrowed it down to three units he genuinely loved. All renovated. All prime BGC locations. All coming in at roughly a quarter of what he was paying in New York.
He put the whole thing simply.
You are living in the best area. That comes with the amenities and the western conveniences. And for $2,000 a month here you are saving a lot more than you ever could back home.
He is right. The math is not subtle. $5,400 in New York for a waterfront two-bedroom. $1,200 in BGC for the same size, the same amenities, and a city that keeps surprising you.
Travel Well,
Evan Lorezca
The Savvy Expat
If You Enjoyed This Newsletter, Check Out These Videos I Made:
What Does $2,000/Month Get You in BGC, Philippines - Worth it?
How I Saved This Expat $4,800 on His Condo in BGC, Philippines - Avoid Skin Tax!