Thursday, July 17, 2008

Going in search of real estate and the good life in the Philippines

75% of young Brits are considering moving abroad and, according to Government statistics, some 5.5 million Brits have already made the move overseas

Beth Collingz, PLC International Marketing Director for Pacific Concord Properties Lancaster Brand of Condo Hotels in the Philippines in a Press Conference with International Investors from the United Kingdom held recently at Shangri-La Mactan Resort Hotel in Cebu, reckoned - There is no denying the fact that increasing numbers of British nationals are searching for the good life abroad. As the cost of living in the UK rises and the country flirts with another recession, those whose lives are affected are looking overseas for a better quality and more affordable life.

According to various surveys and public reports published in the UK, "every three minutes a British national packs their bags and starts a new life abroad," said Collingz. A staggering 75% of young Brits are considering moving and Government statistics show some 5.5 million Brits have already made the move overseas.

The reasons behind this mass exodus are easy to understand, for one thing the state of the economy in the UK leaves a lot to be desired as inflation increases, house values decrease, wages stagnate and companies' order books lie empty – unemployment rises. Adding to the sorry state of the nation are undeniable facts the summer is proving to be a washout, crime levels appear to be rising and the government has reduced the threshold at which individuals fall into the 40% tax bracket.

All in all it is unsurprising that so many Britons are contemplating a move overseas, and in their search for a nation that will offer them a better standard of more affordable living, the Philippines is one of the hottest countries luring in Brits who are fed up with life in the UK.

Many of my clients are purchasing several condo hotel properties with the intent to live in one and rent out the other units for monthly sustainable income. “Where can you find a 350sqft Freehold Flat in the heart of Central London for only 30,000 Pounds or a Studio in Manhattan for only 60,000 Dollars and then get up to 14% per annum ROI from rental returns” enthuses Collingz.

“These figures probably seem Crazy to London Property Buyers unless they remember the prices of Flats and Apartments back in the late 70’s” and all of this comes complete with average 85 degree temperatures and sunshine nearly all year round” said Beth Collingz whom used to live in South Kensington and still owns several Chelsea Embankment Townhouses and St. Catherine’s Dock Flats before coming over to the Philippines

The Philippines, with its predominantly English speaking population and strong American influence, is almost the perfect antidote to all that is wrong with life in Britain. The Philippines enjoys a good climate, a cost of living that is a fraction of that in the UK and a slower relaxed pace of life. The people are more friendly, open and relaxed. Friends and clients whom have moved from the UK to live in the Philippines are finding that their new life is everything that they could have dreamed of and more said Collingz.

Collingz said that “accessibility from Europe is also another major factor. Direct flights to Cebu and Manila, for example, average just 16 hours, add to that the many airline specials from Qatar Airlines whom probably offer the cheapest air fares that fly directly into Cebu and Manila and it’s easy to see why the Philippines is becoming an international community.”

Unlike other offshore rental properties, where the rental market is largely seasonal, in the Philippines there is a strong market for rental properties year round. This gives buyers greater flexibility in choosing when to use and when to rent their property. The strong rental/second home market also has resulted in a proliferation of professional property managers and rental agents, making property ownership and rental easy.

“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. To be completed and ready for turnover from December 2011, the Lancaster Suites Manila Atrium Tower II will provide unit owners with premier residential condo units with the option of enrolling their units in the Lancaster Condotel Rental Pool and earn Rental Incomes [at current purchase levels] of some 8-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management. This makes Lancaster Suites one of the Hottest Investment Opportunities in the Philippines.

“The beauty of holding property in the Philippines is the low cost of property taxes and maintenance. A GBP £30,000 Condo Hotel 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 up to 14% returns through rental income through the Condotel advantage, you have an incredible ROI on a purchase of Philippine Condo Hotel 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 Self Invested Pension Plans 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.

With preconstruction property appreciating at some 30% per annum not only does the Real Estate Appreciation look good but the rental income is in excess of what many Pension Plans offer for the same or similar investment.

Beth 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”.

”The potential high rate of rental returns from Condotel Investments, currently from 8% up to 14% per annum, opens up a huge market not traditionally looked at by Real Estate Agents and Brokers whom all so often run around looking for normal residential profile “buyers” without looking at the by far bigger picture of investments, investing and retirement. "We’re here to help our clients and advising them of emerging investment opportunities. Self-Invested Pension Plans and Lancaster Atrium Condo Hotel buy-to-let property, fit this bill exactly”; adds Collingz.

For further info regarding Lancaster Philippines Condo Hotel Investments using your UK SIPP [Self-Invested Pension Plan] 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 Branch Office
Lapu-Lapu City, Mactan.
Cebu. Philippines
Phone: Cebu [6332] 340 0721
Fax: [6332] 495 4938
Web: [Lancaster Condotels]
Web: [Lancaster Suites]
Web: [Lancaster Atrium]

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