Philippines property market gap opens up for Savvy Investors in Condotels
Philippine Condo Hotel offers new investment opportunities
US economic woes are affecting a key sector of the Philippines residential property market but it is hoped the shortfall will soon be picked up by increasingly affluent Filipinos seeking investment opportunities as well as new overseas investors.
The number of Philippines properties being bought by Filipinos based in the US and other countries has began to fall because of the global credit crunch. 'It is a blow but not significant as there are new investment clients out there and we do not focus on the US as a sole marketplace for our sales,' said Beth Collingz, International Marketing Director for PLC Global, a company specializing in the Lancaster Brand of condotel investments in the Philippines.
'Many new investors are looking to replace failed pension plans and other future saving schemes with a solid investment in real estate. Many are looking for investments that will give them an income for retirement. Savvy investors are now looking for a more solid investment with potential for monthly income and Philippine Condo Hotel investments are ideal because Hotel rates in the Philippines are the same if not more expensive than those in the US but the entry level to purchase real estate is only about 10% of what you would have to pay for a Studio in Manhattan,' she added.
There are also indications that the Russians may take up some of the slack. First-time Russian overseas buyers are now looking at South-East Asia and particularly the Philippines. According to statistics from the Philippines Department of Tourism, the country was able to attract some 12,000 Russian visitors last year.
Overall visitor numbers are growing. Airlines are reporting record numbers. For example, the country's flagship Philippine Airlines registered the highest number of international passengers ever last year - 3.38 million, up from 3.05 million in 2006.
Most interest is in condominiums and apartment hotel complexes.
PLC’s overseas property specialists and marketing partners, David Stanley Redfern Ltd., whom based in the UK, have predicted sustained growth of at 24% per year in the Philippines, for the next 5 years.
However the Philippines remains undiscovered as far as British and many European investors are concerned. Yet because of its close links to the US, English is widely spoken and it is well regarded for its beaches and diving.
'Buying property here is easier than many people think and investment from overseas is growing, especially in the resort areas of Cebu and Manila itself where rental potential is good,' said Collingz.
However, 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.
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 on up to 12 year ‘In-House’ developer extended no pre-qualification payment terms available to non-resident foreign nationals and investors with the option of enrolling their units in the Lancaster Hotels Rental Pool and earn Rental Incomes when not using their units through our own Lancaster Hotels Condo Management. This makes Lancaster Suites Manila, one of the Hottest Investment Opportunities in the Philippines said Collingz.
For further info regarding Lancaster Philippines Condo Hotel Investments please do not hesitate to contact us....
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
Phone: Manila  717 1958
Fax: Manila  718 1828
Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan. Cebu. Philippines
Phone: Cebu  340 0721
Fax:  495 4938
Web: http://www.condotel-sales.com [Lancaster Atrium Manila]
Web: http://www.condotel-manila.com [Lancaster Suites Manila]