Philippines, On The Verge Of Real Estate Boom!
“We believe, gauged on sales activities for the past 12 months, that THE PHILIPPINES is on the crest of what could be the country's biggest property boom in nearly three decades fueled by money from overseas Filipinos, investments from businessmen, Foreign Property Investors” said Beth Collingz of PLC International, one of the lead listing partners and marketing managers of Pacific Concord Properties, Inc., Lancaster Suites developments in Metro Manila.
At least $1 billion in remittances from Filipinos alone, living or working abroad flow in every month, not to mention the inflow of Foreign Real Estate Investors as the market in the United States turns from a sellers to buyer’s market advantage amidst highest ever Oil and Commodity prices. A high percentage of these inward remittances goes into buying new houses for their families, high-end condos or resort homes for their own use and in Condo Hotel or “Condotel” Investments as Income Earning Properties.
Pacific Concord Properties, Inc., was one of the first firms to tap the overseas market, which now accounts for more than two third’s of its sales in both it’s Lancaster Suites Manila and Lancaster Cebu developments. The Lancaster Suites Manila Tower I development located along Shaw Boulevard, Metro Manila was completely “Sold Out” during 2005… “The only thing I have available in Tower I is a Parking Slot” enthuses PLC International Marketing Networks Director Beth Collingz continuing “We could have sold Tower I Twice Over” such is the demand for Condotel Suites”
Condotels or Condo Hotels are probably the fastest growth areas in the hotel industry today. Condotels have been around for quite a while now, and have been "Hot Investment Properties In The US" for some time. Condotels that used to be available in vacation locations are now popping up all over the US thanks to the biggest names in the industry like Donald Trump as well as smaller companies who are making huge profits in less known areas. In the United States the highest concentration of Condotels today can be found in Las Vegas or Florida. In the Philippines Condotels can now be found in Manila and Cebu. Pacific Concord Properties Inc., The Lancaster Cebu Resort Residences in Mactan, Cebu and Lancaster Suites Manila are prime examples of the new breed of Smart Real Estate Investment Properties now available in the Philippine Real Estate Market.
But what exactly are "Condotels". A Condotel or Condo Hotel, is a combination of hotel and a condo. You can think of it as the best of all worlds. Operating like a hotel, usually with more amenities that a normal residential condominium building, the Condotel units are individually owned by many different owners. While different complexes and resorts may vary, most give you the choice of renting the units out or using them for personal use. Many of them have a rental program and management on the premises, getting rid of all the hassles that landlords always encounter.
Benefits of owning a Condotel
What are the benefits to owning a Condotel rather than other real estate investments? There are many!
Rent Revenue: Condotel units will produce rental revenues. That revenue can partially or completely offset the costs of owning and maintaining the Vacation Home
Appreciation Potential: The best selling point of Condotels as investment property is the rate at which they appreciate. Especially when purchasing at the pre-construction stage of the project. The rate of appreciation throughout the Philippines is generally negative especially in rural areas. However, cities such as Metro Manila and Cebu see annual property appreciation rates depending upon locations between 10% to 18%. Most Condotels are located specifically in areas that have seen and continue to see high appreciation rates such as Metro Manila and Mactan, Cebu. Furthermore, it is the Condotel Properties that are seeing higher appreciation rates than traditional single family homes and condos.
Diminished Supply Of Available Land: Desirable locations to build in the Philippines are not limitless. There is a dwindling supply of available land in key markets such as Metro Manila's much sought after Ortigas Center and Makati locales. In Cebu, the highly desirable Mactan is an Island and available building land at prime locations are fast being sold which ensures that Condotels built in these locations will have seen significant real property appreciation.
Condotels Appeal To International Investors: Condotels are particularly attractive to International Investors whom wish to own a Vacation Home and an Investment Property in the Philippines and yet don't have any of the hassles of maintenance or renting out the property when they are not using it. With property values flattening off and rental incomes weakening in US the Philippines, only 16 hours away, offers an idea alternative at prices far less than anything available in the US. Less than $49,500 will purchase a reasonable, fully furnished, 400sqft Studio at the Lancaster Cebu with projected Annual ROI through Rental Incomes of some 12-14%. The new Lancaster Suites Manila Atrium Tower II presents an even better purchase opportunity for International Property Investors. Studio Suites, at the Initial Launch Price can be purchased from $29,300.00 with current projected Real Property Appreciation of some 80-100% during construction and a projected 120% Appreciation on turnover of the unit in 2010. Purchasing at this Launch Price would give a projected Annual ROI through future Rental Incomes of some 16-18% per annum when operational from later part of 2010. Additionally, the value of the Philippine Peso has enabled many European and American Investors to obtain upscale Condotel units for what amounts to "Bargain Prices" or for the same price as a "Garage" back home.What most people do is have the management rent the units out for them to defray the costs, and sometimes even creating a positive cash-flow, it becomes a "Self-Liquidating" investment free from maintenance expense. If you feel like going on vacation, simply call up the management company and let them know that you'll be using your unit on specific dates, and they set it aside so no-one else uses it. Normally 30 days per annum are allowed for Owner Use of the units enrolled in a Condotel Rental Pool. Most Condotels now operate on a common or cooperative basis with rental incomes equitably divided between the unit owners irrespective of actual unit usage. This means that even if your unit was not rented out during any particular month you will always receive an equal share of the rental income from the pooled net operations income.
The Smart “Self-Liquidating” Investment Advantage !
Many of our clients are now purchasing the fully furnished “Ready-For-Occupancy” Condotel Suites at the Lancaster Cebu Resort Residences that will be become operational within the year, thereby realizing Rental Incomes, and using the rental income to Purchase a Studio Suite at the Lancaster Suites Manila Atrium Tower II on a “No-Down Payment” 5 year Interest Free Payment Plan with only $538 Monthly Installments enthuses Beth Collingz, Director, PLC International Marketing Networks. Condotels also have been appreciating in value at rapid rates in the last few years. Many investors have made incredible profits just purchasing and selling these units, which is known as flipping.
Where would I normally find Condotels?
PLC International Marketing Networks together with the PLC Global Filipino Agency focuses on the sale and marketing of Condotels in Manila & Cebu. If you want to learn more about where you can find condotels, check out Pacific Concord Properties Lancaster Cebu Resort Residences and Pacific Concord Properties Lancaster Suites Manila and the Mactan, Cebu
How much do Condotels cost and can you finance them?
Condotels have a vast range in price. This is another benefit of Condotel investments. Most offer Studio, One Bedroom, Two Bedroom, Three Bedroom and Penthouse Suites. No matter what your price range is, there is something out there for almost anyone. In the Philippines, Lancaster Suites Manila range between $29,000 and $250,000, Lancaster Cebu Resort Residences range between $49,600 and $105,000 so regardless of your price range, there should be something for you.
Although financing has been difficult in the past on real estate investments in Philippines especially for Foreign Nationals through local Banks, they have been getting much better in the past several years. Not too long ago, you would have to cough up a minimum of what amounts to 50% down in order to be able to finance the purchase of a unit. Now, developers have their own "In-House" No Qualification Finance Purchase Arrangements. Pacific Concord Properties adopts the International Standard of Escrow Trust Account Banking for all buyer's payments and units at the Lancaster Suites Manila may be purchased on No Down Payment Plans with payment periods up to 12 years. Interest Free No Down Payment Plans are also available for payment periods of up to 5 years. Whilst the Lancaster Cebu Resort Residences may also be purchase on minimal 15% Down Payment Plans with payment periods up to 5 years. Interest Free No Down Payment Plans are also available for period of up to 2 years. For more information on Pacific Concord Properties 'In-House No Pre-Qualification" financing plans, contact Beth Collingz of PLC International Marketing Networks in Manila or Cebu.
What is the best time to buy a Condotel unit?
There is a limited inventory of Condotel units, and there selling fast. Pacific Concord Properties The Lancaster Suites Manila Tower 1 "Sold Out" in record time. Most Condotels are sold out during the pre-construction and construction phase. As word continues to spread about the Condotel Developments of Pacific Concord Properties in Manila and Cebu, more and more investors from around the World, and not only Filipino Americans, are looking to participate in these solid investment opportunities.
Furthermore, because demand is outpacing supply, appreciation has been significant and rapid. In less than 24 months Pacific Concord Properties Lancaster Suites Manila Tower I saw prices appreciate from [Pesos] 43,000 to the current price of 78,000 per square meter or some 80% whilst the Lancaster Cebu Resort Residences have seen prices appreciate during the past 6 months alone from [Pesos] 64,000 to 83,200 per square meter or some 30%. With Foreign Exchange Rates stabilized, now is the best time to act. Better yet, Pacific Concord Properties Inc provides Buyer’s the opportunity to avail of “Fixed Price” US Dollar denominated Contracts taking out any risk in Exchange Rate Fluctuations.
Globalization of Philippine Real Estate Marketing
Total Globalization through use of the Internet has made an immediate impact on real estate markets in the Philippines attracting the attention of Real Estate Professionals Worldwide. Many Realtors heretofore with a local focus are looking to expand their businesses into the International Arena to take advantage of the Millions of Filipinos living and working all over the World. The rapid growth of the Internet has made the International Market accessible to millions of potential buyers and sellers of Real Estate. Current estimates are that more than 650 million people are directly online with another 300 million using Internet Cafes and by 2006 that number will have reached close to 1.5 billion. Most of the growth will take place in Asia, Latin America and parts of Europe.
Filipinos alone account for some 12 million Global Internet users !
The value of commerce connected to the real estate industry is staggering. Residential real estate sales in 2005 for the U.S. alone approximately one trillion U.S. dollars. As a result, many well-established companies and newly formed start-ups view the Global Real Estate market as a source for significant revenue potential.
PLC International Marketing Networks a Philippine Real Estate Internet Marketing Company specializing in the Sales & Marketing of Condotels in Manila & Cebu, announced the accreditation of the 1200th agent in their less than six-month marketing partnership with the PLC Global Filipino Agency. The alliance has resulted in immediate success for many of it’s Member Realtors, Brokers, Agents and International Marketing Partners.
Realtor surveys show that 70% of all buyers and sellers of Real Estate now begin their home search online.
PLC Global Filipino Agency gives the agent the ability to have a personalized, high performance, all-inclusive, website at an NO cost. Through PLC Global, buyers and sellers worldwide are able to quickly and easily reach the agent's website, participate in Real Estate Forums, ask questions and post properties for sale or properties wanted to buy. This key feature, in tandem with the proven visitor-to-lead conversion statistic of PLC International Marketing Networks Excellence in Website Service, turns PLC Global into a lead-generating machine for it’s members PLC Global allows agents to select local areas where they do business, post properties for sale or properties wanted and to receive website inquiries from potential buyers in those targeted markets. These inquiries are delivered directly to the agent's forum. The service is FREE and you can access the Global Market from anywhere PLC Global Director, Beth Collingz states, "Identifying and providing strong services to enhance our clients' success has always been a top priority for PLC International Marketing Networks.
PLC Global Filipino Agency is now providing the prospects our clients are receiving and some of the best available information on Philippine Real Estate via the Internet”. PLC Global is dedicated to broadening the agent's reach from traditional local marketing to the online marketplace where three out of four real estate transactions begin with an Internet search
PLC International Marketing Networks is a Real Estate Internet Marketing Company based in Metro Manila with Branch Office in Cebu serving thousands of Filipino Real Estate Agents across the Globe. The company specializes in Sales for the Lancaster Suites Manila Condotel consisting of Three 42 Storey Towers located in Shaw Boulevard, Metro Manila and the Lancaster Cebu Resort Residences Condotel Developments of Pacific Concord Properties by both direct marketing and email marketing and through it’s extensive International Network of Realtors, Brokers, Agents and Accredited Marketing Partners.
PLC International Marketing Networks were recently awarded “Best Broker Awards For 2005” by Pacific Concord Properties in recognition of the high volume of sales generate for the developments via the Global Agency. In 2006 PLC International Marketing Networks fully intends to maintain it’s Number 1 spot as the “Best Marketing Partner” of Pacific Concord Properties.
If you are interested to be a part of our Marketing Network for the Lancaster Condotel Developments in Manila or Mactan, Cebu or to reserve Prime location Units now at the Current Price Offering for the Condotel Suites and extended payment terms and stand to earn at least 70-80% in Property Appreciation by completion 2009/2010 please contact us as soon as possible so that we can forward to you full details, pricing, terms of payment, floor plans and our recommended selection of available units.....
To find out more info on Condotel Investments in the Philippines, join the Condotel Forum on http://www.lancastersuites.com
Or for more information call PLC Global in Manila [63 2] 717 1958 or in Cebu [63 32] 340 0721 or send us an Email on firstname.lastname@example.org
Website: http://www.plcsales.coms.ph/ [The Lancaster Suites Manila]
Website: http://www.lancastercebu.coms.ph/ [The Lancaster Cebu Resort Residences]
Watch for the Launch of our New Website & Forum on http://www.lancastersuites.com/