Friday, August 01, 2008

Overseas Off Plan Investment Property and International Real Estate

Investing in overseas property in the Philippines has proven to be one of the most lucrative forms of investment with property values appreciating by anywhere up to 30% per annum. Philippine property investments were even more profitable than property investments in Europe or the US because prices start at far below their actual value in terms of what international buyers are willing to pay

Beth Collingz, overseas marketing director of PLC Global, lead marketing partners for the Lancaster Brand of Condo Hotels in the Philippines, said overseas property investments are far better than traditional investment schemes because with a property investment buyers see solid annual growth, but even if things take a downturn and value starts to drop, there isn't the chance that the property will drop to a very low worth overnight, as can happen with shares, and also because the property is unlikely to drop below a certain point.

Another advantage of overseas property investment is that, on top of the annual capital growth, investors can often start earning a weekly or monthly income from the rental of their overseas property almost immediately, which they can then possibly use to assist in paying off the finance of their investment property said Collingz.

Despite fears over the credit crunch, the massive upturn in buying property in the Philippines has shown no signs of abating.

Philippine property investments have become a popular choice due in part to the explosion of budget airlines on to the market made many more places accessible to the masses. People who had previously been able to afford only one holiday abroad per year, saw the chance to put that money towards financing a property abroad, now that repayments, plus the cost of cheap flights added up to less than the cost of their annual holiday. New airline carriers to the Philippines triggered a massive increase in tourism figures, and people then saw the opportunity to make a substantial second income from renting out their property when they weren't using it themselves.

Emerging market property investors are usually those eyeing a substantial profit in an unsubstantial timeframe. An ideal example of investors favoring emerging market property, are those that can't afford to get onto the property ladder in their country, and who make an overseas property investment in an emerging market in the hope that their rental income, and/or capital gain will increase their buying power back home said Collingz.

Condo hotels have quietly become one of the hottest areas of the real estate market in the Philippines.

The condotel concept provides buyers the benefit by owning a property in a hotel environment that they can use for themselves, and take advantage of the amenities not normally found in typical residential condominium developments. When unit owners are not using the condo hotel suite, the unit is put in the managed pool and rented out for them. The buyers have what is considered "hassle free" ownership.

Condo hotel unit owners also benefit from having a professional onsite management company to handle to marketing, booking of their room and general expertise they bring to the table. If a problem should arise with their condo hotel unit, the management company will take care of it instead of the owner having to worry about it. This makes the traditional landlord tenant issues a thing of the past.

The condo hotel buyer sees the benefit to owning a vacation property that also has the potential to produce income for them. The typical condo hotel produces higher levels of income than the traditional vacation home (and less headaches), making it all the more appealing to buyers said Collingz

Developments such as the Lancaster Suites Manila Tower I was sold out in less than 18 months in 2007 and the building is now ready for occupancy. Condo hotels are different from traditional condos because they are sold "turn key". Clients initially purchase the standard condo unit and then when the time comes for interior ‘fit-out’ they can avail of the in house Condotel package of furniture’s and furnishings for the unit. This means buyers do not have to worry about hiring a designer or contractor to come in to finish out the unit. Everything is included from linens, dishes, pillows etc…

Leading the way in the Metro Manila condo hotel market is Pacific Concord Properties Lancaster Brand of condotel investments. Pricing for condo hotels can range anywhere from $60,000’s up to $400,000 for Penthouse suites. Of course the pricing depends on location, views and types of finishes. The Lancaster Suites Manila Tower I development has enjoyed great success for its clientele with property appreciation already exceeding 100% for its initial buyers. Lancaster – The Atrium, the latest development by PCPI in Shaw Boulevard, Metro Manila, is currently on preconstruction selling and looks set to sell out within the next few months. Lancaster – The Atrium offers clients the choice of Studio, One, Two and Three Bedroom suites that all have kitchen facilities as regular residential condo unit. In addition, Lancaster – The Atrium, as with the Lancaster Suites Tower I, offers unit owners and guests an extensive range of services and amenities said Collingz

Pacific Concord Properties recently introduced affordable easy payment plans for the Lancaster Atrium Manila Condotel Suites where a studio unit can be purchased without any down payment, and 67% of the contract price payable over 60 months interest free and the 33% balance payable on turnover of the unit or to be extended for another 60 months through PCPI’s no prequalification no hassle finance plan, sales of the companies inventory of units will surely sell out quickly to investors seeking to take advantage of the Condotel Investment “Boom” in the Philippines.

For further info on Philippine Condo-Hotel investment opportunities 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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