Thursday, July 10, 2008

Brits taking advantage of low investment property prices in the Philippines

British property investors are increasingly taking advantage of low Buy-to-Let Condo Hotel prices in the Philippines.

Manila real estate sales agents, PLC Global, the lead marketing partner for the Lancaster Brand of Condotels in the Philippines, are reporting more enquiries than ever from the UK. Investors want to buy property that they can use as a holiday home and then rent out for the rest of the year said Beth Collingz, overseas sales director for the firm.

Nearly one in three new sales enquiries for our Lancaster Suites ready for occupancy Condo Hotel in Manila are coming from the UK, up 50% on last years figures said Collingz.

With favorable exchange rates on GBP the trend has become stronger in past couple of months as more and more foreign clients, especially those from the UK, take advantage of current price levels and our 12 year no qualification no down payment terms.

Collingz added that another factor influencing the Brits to invest in Philippine ‘Buy-to-Let’ property is that UK Tax Payers can take advantage of tax incentives and Invest their Self-Invested Pension Plan [SIPP] in Condo Hotel Investment Real Estate for rental Income and retirement. In the UK "Thousands of people are now beginning to catch on".

A year or so ago, few people in the UK realized that they could manage their Pension Plan portfolios themselves, and even fewer knew that they could invest their SIPP retirement money in homes in the sun which now prove to be among the most popular potential investments to include in a SIPP

If you’re considering using your SIPP to invest in real estate, there are some excellent reasons that you should choose Philippine Condo Hotel Investment real estate to drive your retirement portfolio into high profit margins. The Philippines is ideal for this type of investment because a SIPP can establish title to a property in a country whose legal framework recognizes trusts – and a SIPP is simply another form of trust.

Investing in foreign real estate is neither as risky nor as tricky as a lot of people would have you believe. While land and housing prices in the U.K. have soared astronomically in the past decade, the world real estate market is a far different story. It’s still possible to buy a preconstruction Condotel suite at Lancaster – The Atrium located in Metro Manila, Philippines, for less than GBP £30,000.00”.

Lancaster Manila Atrium Tower A, Shaw Boulevard, Metro Manila, Philippines is a "Full Service" Condominium Hotel ["Condotel"] offering Studio, One, Two and Three Bedroom Suites for sale with the option of enrolling their units in the Lancaster Condotel Rental Pool and earn Rental Incomes [at current purchase levels] of some 12-16% ROI per annum as Owner Non-Residents when not using their units through Condo Hotel Management.

"The beauty of holding property in the Philippines is the low cost of property taxes and maintenance. A GBP £30,000 Condotel suite may set you back GBP £200 in property taxes per year, and maintenance costs are similarly low. When you add in the tax-protected status of investments made in your IRA, and the 12-16% returns through rental income through the Condotel advantage, you have an incredible ROI on a purchase of Philippine Condotel investment real estate" enthused Collingz.

With the impending slowdown of the UK housing market and failing pension plans, many investors are turning to using their SIPP’s to invest in overseas properties and earn tax-free or tax-deferred income. This creates an outstanding opportunity for by offering self-directed pension plan vehicle to invest in the Lancaster Suites Atrium Tower preconstruction units.

Collingz says that many new investors are looking to replace failed pension plans and other future saving schemes with a solid investment in Real Estate. Clients are looking for investments that will give them an income for retirement as an alternative to traditional private pension plans that have failed. Most company pension plans are insufficient as are Government Pensions. Bank rates for Savings accounts are at record lows. Savvy investors are now looking for a more solid investment with potential for monthly income.

Condo Hotel developer, Pacific Concord Properties Inc., [PCPI] have taken advantage of the current market opportunities as "new hotel and resort developments are currently being constructed in strategic business locations such as the Ortigas Center business district of Metro Manila as well as top tourist destinations such as Mactan, Cebu" continued Collingz.

The Lancaster Brand of Condo Hotels, a new development by PCPI, includes the US$100 million Lancaster Suites Tower 1, a combined hotel and residential condominium that is now operational and Lancaster - The Atrium Condotel that will rise adjacent to Tower 1 in Shaw Boulevard, Metro Manila.

However, construction costs in the Philippines are seen to increase by more than 35% this year due to record oil, steel and cement and global shipping price rises on the back of US Dollar devaluation said Collingz.

Nearly all construction materials used in the development of Philippine high-rise buildings are imported. With the strong depreciation of the US Dollar value in the South-East Asia combined with record high oil prices that may see crude hit 150/160 USD per barrel in July and August 2008, construction materials exported from China, Korea, Malaysia and Taiwan, together with their shipping costs, continue to increase in price at a phenomenal rate as exporters of steel reinforcement bars, electrical wirings, aluminum, copper based components and Portland cement in the region set upwards of 40/50% price increases.

Anyone considering Philippine Real Estate Investments should move now and lock in at current price levels said Collingz who’s Lancaster Condo Hotel brand offer the security of International Standards of Trust Account Escrow Banking facilities for all buyers’ payments. ‘We are looking at another round of 10% price increases within the next 30 days [effective July 16, 2008] on all our inventories of Condo Hotel units at both Lancaster Suites and Lancaster - The Atrium Manila. Buyers whom reserve now can take advantage of current prices locked in for their units and see an immediate equity return on their investment” said Collingz.

For further info regarding Lancaster Philippines Condo Hotel Investments please do not hesitate to contact us....

Beth Collingz
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
Phone: Manila [632] 717 1958
Fax: Manila [632] 718 1828

Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan. Cebu. Philippines
Phone: Cebu [6332] 340 0721
Fax: [6332] 495 4938
Web: [Lancaster Atrium Manila]
Web: [Lancaster Suites Manila]

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