New Payment Plans for Philippine Condotel Investments announced by Pacific Concord Properties Inc
Released on = August 11, 2007, 2:58 am
Press Release Author = Beth Collingz/PLC International
Industry = Real Estate
Press Release Summary = PCPI's Philippine Condotel Investments new 12 year Payment Plan allows clients to buy Hotel Suites at 50% of the purchase price that can be used as Pension or Early Retirement Plans
Press Release Body = Beth Collingz, International Marketing Director for PLC Global based in Manila, lead Marketing Partners for the Lancaster Brand of Condotels in the Philippines, announced new 12 Year Payment Plan Options that provides for Lancaster - The Atrium Executive Studio [Semi Fitted] Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 32.50sqm [350sqft] Studio then 48 consecutive monthly payments of only -Pph-17,801.58 [No Interest for the first 4 years]. Annual Lump Sum payable on the anniversary of the reservation date of -Pph-91,551.00 for the first 4 years and thereafter continue the 96 consecutive monthly payments of -Pph-24,075.73 to complete the balance of the purchase price"
"Anyone from Overseas Filipinos to Offshore Property Investors looking to start saving for retirement, the Philippines with its comparative low cost of real estate yet high rates of Hotel Accommodations, make the Condotel investment an extremely attractive investment proposition. Our clients are now looking at the preconstruction investment in a Lancaster Atrium Semi Fitted Studio Suite that may be purchased on a one of a kind 12 year plan" Collingz said.
"Having paid 50 percent of the purchase price within 4 years the Studio Condotel will be ready for occupancy and thereafter income positive with a projected ROI through rentals of at least 500 dollars per month makes the remaining 96 monthly payments on the unit balance self liquidating" said Collingz, and with preconstruction property appreciating at some 20-30% per annum not only does the Real Estate Appreciation look good but after paying for the unit, the rental income is in excess of what many Pension Plans offer for the same or similar investment of only 50 percent of the purchase price for the unit.
Ronald Lim, President/CEO of Pacific Concord Properties Inc., developer of the Lancaster Condotels in the Philippines whom is currently on a successful US Road Show for the Company said "The potential high rates of rental returns from Condo Hotel Investments, currently from 8% up to 16% per annum depending upon your payment plan for the unit, opens up a huge market not traditionally looked at by Real Estate Agents and Brokers whom all so often run around like headless chickens looking for normal residential profile "buyers" without looking at the far bigger picture of investments, investing and retirement"
"We look at Condotels as pure investments, Retirement Investing or alternate Pension Plans. Not primarily as Real Estate. If you look at the Condo Hotel market as investing for future income, and think outside of the box, it is plain to see that Hotel Condominiums are not only real estate investments but more importantly income generating property. Think of Condotels as a Managed Pension Plan. After all, Condotel units are fully managed property. The owner of the property does not have the hassle of renting out the unit and contend with all the normal pit falls of being an amateur land lord. This is taken care of by the Condo Hotel Management" said Lim.
"One of my clients from Chicago, purchased 4 Studio Condotel Suites at Lancaster - The Atrium Manila which is currently in preconstruction sales with a plan to retire in 2012. His outlay for the purchase of the units is only around 70 Dollars a day for 6 years by opting to purchase with a 30% down payment on a 6 year no prequalification, no down payment, no interest payment plan. Even before completing payment for the units, after buying the furniture's and appliances package for a studio at around 8,500 Dollars, upon completion he will be receiving more than $2,000 a month in rental income in additional to any Government or Private Company Pension Plan. Apply that to the 12 year payment plan and during the first 4 years prior to completion, where you would only be paying something like 25 Dollars a day including the annual lump sums and Studio completion package and after the units are already earning rental income, 45 Dollars a day, he would have a cash positive income of 20 Dollars a day or some 600 Dollars a month after 4 years. Better yet, the rental income is in tune with inflation and buying on preconstruction terms gives real estate appreciation of some 60-80% over 4 years enthused Collingz.
"At the end of 12 years, having only put out 50% of the original purchase price of the units, the owner would have earned something like 4,800 Dollars and the condo units are now in fee simple, owned free and clear, then earning more than 2,000 Dollars a month. Better yet, as Hotel Rates increase yearly, so does the rental income" added Lim.
Foreign Nationals are legally allowed to purchase as much as 40% of the total number of condominium units on the market at any given time. Overseas Filipinos and more and more foreigners are now emerging as a market for condotel units. Many or our clients are coming from different countries like South Korea, Australia, United Kingdom, Saudi Arabia and other parts of the Middle East.
Lancaster - The Atrium Tower II [which is the second Tower adjacent to the existing "Sold Out" Tower I] located along Shaw Boulevard, Metro Manila, is now accepting Reservations for Studio, One, Two & Three Bedroom Suites adopting International Standard Escrow Trust Account "Buyer Safe" Easy Secured Payment Plans. with either 6 year interest free payment terms or up to 12 year \"In-House\" financing available, full condo ownership and minimum monthly maintenance fees - "You really should take a moment to look at this Philippine Condotel Investment Opportunity" encouraged Lim
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