Thursday, July 31, 2008

UK overseas property investors increasing investments in the Philippines

Most UK property investors who buy abroad are not put off by the rising cost of air travel and are still looking to South East Asia to buy, according to Philippine Condo-Hotel marketing company

Beth Collingz, overseas sales director of PLC International Marketing Networks and lead marketing partners for Pacific Concord Properties Inc Lancaster brand of Condo-Hotels in the Philippines reckons most second home owners with property abroad are more concerned about the impact of climate changes but they are not willing to cut back on traveling to their overseas property.

Overseas property investors are not just increasing in number, they are also going further to buy with the Philippines becoming more and more popular destination due to favorable currency exchange and relatively low entry price levels in real estate.

Investing in overseas property, both for leisure and investment purposes remains a key aspiration for many Brits Collingz said. Taking regular holidays is also a top consumer spending priority despite environmental concerns and the credit crunch. As a result, we expect to see continued growth in the condo-hotel sales and rental markets both in terms of supply and demand.

Property investors see the Philippine buy-to-let market as having good rental growth potential. In the UK, "Investors are moving to new areas to find value" said Collingz, "More and more of our clients for buy-to-let Condo Hotel Investments in Manila and Cebu are coming from the UK. There has been a distinct market shift from US based clients over the past few months and we see that trend continuing throughout 2008 well into 2009 as Sterling maintains its increase in value over the US Dollar.

“A lot of this interest is being driven by the relatively cheap market prices in the Philippines compared to Europe and the easy payment options available for our Condo Hotel Developments, but there are other factors, too. Offshore Property Investors, Foreign baby boomers as well as overseas Filipinos in the UK are looking for ways to maximize their return on investments as they approach retirement, and so are purchasing second homes, particularly Condo Hotel Investments where they can use the Condo for vacations and rent it out through our In-House Condo Hotel Management when they are not using the unit thereby gaining rental incomes that on today’s purchase prices, give a projected ROI on their investments of some 8-14% depending upon the mode of payment for the unit”

Metro Manila remains a popular choice with international buyers and institutional investors. Collingz says clients tell her that it makes more sense to buy in a year-round vacation destinations and business centers. Lancaster - The Atrium Condo Hotel developments by Pacific Concord Properties located in Shaw Boulevard, Metro Manila - fits the bill with all it offers to International buyers.

Accessibility is also a factor. “Flights from London to Manila, for example, average just 16 hours, add to that the many airline specials and it’s easy to see why this area 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. Pacific Concord Properties Inc with it’s flagship Lancaster Condotel Developments fit’s the bill

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 as Owner Non-Residents when not using their units through Condo Hotel Management and reciprocal arrangement with Lancaster Cebu Resort Residences. 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....

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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