Saturday, August 14, 2010

How to Retire Comfortably for Under $1,500 a Month in the Philippines

Paul and Edna moved from London to Cebu two years ago. They sold their house in Fulham and bought some buy to let condos in Cebu. A year later, they purchased a piece of land and built a small house. Today, they live in a beachfront property near Compostella, Cebu.

Beth Collingz, Overseas Sales Director of PLC International Marketing Networks, the lead marketing partners for Pacific Concord Properties Lancaster Brand of Condotel Investments in the Philippines said the pair lives comfortably without financial worries. They had no trouble making friends because the folks in Cebu speak English. They eat out in numerous restaurants three or four times a week. They can barbecue fresh seafood at home. They have reliable Internet to keep them connected to the outside world. The retired couple has a live in maid and houseboy and with their rental income from the 5 condotel buy to let units they purchased earning them $1,500 each month they can easily afford a comfortable lifestyle in Cebu.

In the recent years, the Philippines has enjoyed the privilege of being considered as a preferred retirement destination of retirees from all over the world. World-renowned Filipino hospitality, diverse culture, and reasonable standard of living are only a few of the reasons cited by retirees in choosing the Philippines as their new home.

The country's retirement program is managed by the Philippine Retirement Authority (PRA). Its primary role is to promote and grant the Special Resident Retiree Visa (SRRV) to would-be retirees, and to offer a range of services, benefits, and comfort that would make their stay in the Philippines truly worthwhile.

The PRA is mandated to attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines with the end-view of accelerating the socio-economic development of the country, contributing to the foreign currency reserve of the economy and by providing them the best quality of life in the most attractive package.

Applicants for a PRA Retirement Visa are required to make an initial USD cash deposit which provides for conversion of the required deposit into active investments in the Country. Retirees who qualified to join the PRA Retirement Program have the option to convert their time deposit into active investments after a holding period of thirty (30) days from the date of SRRV issuance. A retiree can choose to invest their required deposit through the following means: a. Purchase, acquisition and ownership of a condominium unit b. Long-term lease of house and lot, condominium or townhouse for a period not shorter than twenty (20) years, and; c. Purchase, acquisition and ownership of golf or country club shares.

This means that retirees can apply for their Visa then withdraw their temporary cash deposits to purchase a Condo unit in the Philippines.

Collingz said Lancaster Cebu is an ideal retirement investment for applicants in the PRA program. “Property has always been about location”. Mactan, Cebu, provides one with both the laid back pace of provincial living, as well as prerequisites of the urban dweller. Schools, hospitals, restaurants, shopping malls, and leisure are all found on the island itself and within 5-10 minutes from the condo complex.

Lancaster Cebu Resort Residences located a few minutes from Mactan-Cebu International Airport in Cebu, Philippines is now accepting Reservations for Studio and Two Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with up to 5 year "In-House" no prequalification financing available, full condo ownership, no management costs for Condotel Suites and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity

Now operational, Lancaster Cebu provides unit owners with premier residential condo units with option of enrolling their units in the Lancaster Condotel Rental Pool. Great Investment for Fil-Am's whom visit Manila for Vacations or Business as they can earn Rental Incomes [at current purchase levels] of some 8% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Suites Manila. This makes the Lancaster brand of Condo Hotels one of the Hottest Investment Opportunities in the Philippines.

Units at the Lancaster Cebu are sold fully fitted, furnished and Condotel ready.

Fully Furnished Executive Studio Suite 36.5625sqm [395sqft] -Pph-75,321.00/sqm -Pph-2,753,924.06. We currently have a few Executive Fully Furnished Studio ready occupancy Condotel Suites that may be purchased with initial Reservation Fee -Pph-100,000.00 Balance Payable without interest over 24 consecutive equal monthly payments of -Pph-110,580.17 [Tax Inclusive]. Alternatively Save -Pph-106,156.96 by making the initial Reservation Fee [-Pph-100,000.00] and then within 30 days 40% a Net Discounted Down Payment of -Pph-955,412.70 with the resulting Balance payable without interest over 24 consecutive equal monthly payments -Pph-66,348.10.

Pay Cash and take a full 10% discount [Save -Pph-275,392.40] on the contract price. Pay the initial Reservation Now [-Pph-100,000.00] and the Cash Balance within 30 days [-Pph-2,378,531.66] for an Effective Total Cash Price of -Pph-2,478,531.66.

Studio Suites may be purchased on Five Year Payment Terms through our no qualification “In-House” Finance with 15% Down Payment. Reservation [-Pph-100,000.00] and down payment within 30 days [-Pph-313,088.61] with resulting Balance payable over 60 consecutive equal monthly payments -Pph-56,924.57.

Fully Furnished Executive Two Bedroom Suite 65.74sqm [710sqft] -Pph-83,161.00/sqm: -Pph-5,467,004.14. These ready occupancy units may be purchased with an initial Reservation Fee -Pph-100,000.00 Balance Payable without interest over 24 consecutive equal monthly payments of -Pph-223,625.18 Tax Inclusive. Alternatively take a Saving of -Pph-214,680.16 by making the initial Reservation -Pph-100,000.00 then within 30 days 40% Net Discounted Down Payment of -Pph-1,932,121.50 and then the resulting Balance is payable without any interest over 24 consecutive equal monthly payments –Pph-134,175.10.

Pay cash and take a full 10% discount [Save -Pph-546,700.00] on ready occupancy Suites. Pay the initial Reservation Now [-Pph-100,000.00] and the cash balance within 30 days [-Pph-4,820,303.70] for an Effective Total Cash Price of -Pph-4,920,303.70

These Two Bedroom Fully Furnished Suites may also be purchased on Five Year Payment Terms through our simple no qualification “In-House” Finance plans and are available with a 15% Down Payment. Pay the Reservation Now [-Pph-100,000.00] and the down payment within 30 days [-Pph-720,050.62] with resulting Balance payable over 60 consecutive equal monthly payments -Pph-113,004.88

For more information, specifications and reservations please do not hesitate to contact us:

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

Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan.
Cebu. Philippines
Phone: Cebu [6332] 340 0721
Email: plcmarketing@lancastersuites.com
Web: http://www.lancastersuites.com [Philippine Condotel Investments]
Web: http://www.condotel-rentals.com [Cebu Condotel Rentals]
Web: http://www.condotel-cebu.com [Cebu Condotel Investments]

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