Condotel Investments - Speculative but Profitable in the Philippines

A would-be real estate investor at a conference in London in April said he'd researched the Philippines property market for five years, considering making a buy. Meantime, prices appreciated, maybe, 200% in that period. The market became too expensive for him and he never did act.

Another investor at a Real Estate Forum, explained that he'd been watching the market in the Philippines, for more than two years but was still uncertain as to whether or where to buy. He lamented the rate of appreciation of property values during those 24 months.

Two pieces of advice: First, yes, do your homework. But, second, don't become paralyzed by the analysis. Nothing is guaranteed. You'll rarely identify a "perfect" time to buy. You'll never know you're making the right move. In any market, at any time, you could lose everything you invest.

If those things make you uneasy...you shouldn't be thinking about investing in international real estate. This is risky business...often speculative...in unregulated, Wild West markets. Dealing with people you wouldn't do business with if you had any choice (sometimes you don't). If something goes wrong, you'll likely have little or no recourse.

That's the game. Investing in foreign real estate is more risky and more complicated than investing in U.S. real estate. Recognize these truths. Choose your markets. Do your research and due diligence.

You must have the answers to the six primary factors to consider when making a real estate investment--and how each one affects your level of income:

1. Why you're making the investment. Do you intend to use and enjoy the property? Or, are you only looking at the investment potential? That's important to your initial outlay and your long-(or short-) term returns.
2. What's your tolerance for risk? Learn your Risk Comfort Level, is this investment within those parameters?
3. Your options for financing. Cash or credit? Your answer helps determine your investment.
4. What fits well in your existing portfolio? To be well-balanced, your portfolio should have a range of assets including real estate--and your portfolio should include a range of properties.
5. Your level of experience in the market. Experience is the roughest teacher--because it gives the test before it gives the lesson.
6. Your desired level of involvement. Your level of participation will help you determine your type of investment.

Then act. Take a first step. Don't invest money you can't afford to lose. Control the circumstances as much as possible. But don't wait for a sign from above that the timing and the opportunity are ideal. The sign won't come...and the market won't wait. For a first deal you should probably invest no more than $50,000.

Here are some buys you could make right now with that budget:

1. A Freehold Studio Condotel Suite at the Lancaster Atrium Manila for Initial Property Appreciation Investment and Rental Income from 2010 in Metro Manila, Philippines. Floor Area 28.17 square meter [304sqft] at $1,518.00/sqm. Total Contract Price: USD 42,762.06. Pay Cash and take a full 20% discount [Save USD 8,552.41] on the unit price. Pay 90% Now [USD 30,788.68] and the remaining 10% [USD 3,420.96] on unit turnover from December 2009

2. A Freehold Studio Condotel Suite at the Lancaster Suites Manila for Rental Income from 2007 in Metro Manila, Philippines. Floor Area of 27.23 square meters [293sqft] at $1,618.00/sqm. Total Contract Price: USD 44,058.14 [Tax Exempt]. Pay Cash and take a 10% discount on the Contract Price. Save USD 4,405.81 Pay 90% of the contract price now [USD 35,687.09] and the remaining 10% balance [USD 3,965.23] on unit turnover from March 2007

3. A Freehold Studio Condotel Suite at the Lancaster Cebu Resort Residences for rental income from 2007 in Cebu, Philippines. Fully Furnished Studio 36.5625sqm [395sqft] $1,507.00/sqm USD 55,099.69. Pay Cash and take a full 10% discount [Save USD 5,509.96] Pay Reservation [USD 1,820.00] and Cash Balance within 30 days [USD 47,769.72] for an Effective Total Cash Price of USD 49,589.72. Immediate Occupancy.

UK Property Investors, London Stockbrokers, Property & Estate Agents and Overseas Filipinos based in London are taking advantage of the Cheap Philippine Real Estate market and easy terms of payment, to snap up Condotel investment properties in Metro Manila and Cebu

Pacific Concord Properties, Inc., Flagship Lancaster Atrium Suites Condotel [Manila] development located along Shaw Boulevard, Mandaluyong City, Metro Manila, is one of the hottest Condotel Investments in the Philippines where property investors, apart from real estate appreciation initially reckoned to be 100% for early investors, will get projected Rental Incomes on their units of up to 16% per annum once fully operational from 2010

To be called Lancaster Atrium [which is the second Tower adjacent to the existing “Sold Out” Tower I] Condotel Studios, One, Two & Three Bedroom Suites are currently available to Property Investors adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with 6 year interest free payment terms or up to 12 year no prequalification "In-House" financing [available to all overseas buyers], full condo ownership, no management costs for Condotel Suites, no enrollment charges for joining the Condotel Rental Pool, 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

According to Beth Collingz, of PLC International Marketing Networks, a Lead Marketing Partner with Pacific Concord Properties Inc., whom have Condotel developments in Metro Manila and Cebu, and specializes in working with international clients: “My phone has been very busy with buyers from the UK, Scotland and Australia interested in purchasing investment properties and holiday homes here. A lot of this interest is being driven by the relatively cheap market prices in the Philippines compared to Europe, specially UK Housing prices, and the easy payment options available for our Condotel Developments, but there are other factors, too. Offshore Property Investors, Foreign baby boomers as well as overseas Filipinos, are looking for ways to maximize their return on investments as they approach retirement, and so are purchasing second homes, particularly Condotel Investments where they can use the Condo for vacations and rent it out through our In-House Condotel 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 12-16% depending upon the mode of payment for the unit”

Beth Collingz, who runs PLC Global Pinoy, an internet based marketing network specializing in Condotel Investments in the Philippines, indicated that more than 85% of all Condotel sales in Metro Manila were to international clients. While such a level of foreign-purchasing activity is not as high in the Philippines provinces, Cebu in particular, has seen a sharp increase in real estate purchases by international buyers in the past several years.

“These international buyers know it’s a buyer’s market in the Philippines right now—there are a lot of properties available and fewer local buyers,” Collingz said. “I’m working with clients who are purchasing their second property with me. We also have referrals from many of our prior customers and new clients who have found us through our Web sites, lancastersuites.com and plcglobalpinoy.com which include a special section for international buyers”

While Metro Manila is still a popular choice with international buyers, Collingz says clients tell her that it makes more sense to buy in a year-round vacation destination. The Lancaster Cebu Resort Residences Condotel development by Pacific Concord Properties located in Mactan, Cebu — the area around Cebu International Airport — fits the bill with all it offers to International buyers.

Accessibility from Europe is also a factor.

“London to Qatar, London to Amsterdam to Singapore or Hong Kong direct flights to Cebu and Manila, for example, average just 16 hours, add to that the many airline specials from Qatar Airlines whom probably offer the cheapest air fares, that fly directly into Cebu and Manila, and it’s easy to see why the Philippines 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.

Financing Options and Security open up Philippine real estate market to International buyers.

Previously a stumbling block for some international buyers was the perception that it is difficult —if not impossible — to obtain financing in the Philippines. As a result, many purchases in the past were cash sales.

Pacific Concord Properties recently introduced the new 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.

“Where can you find a 350 sqft Freehold Flat in the heart of Central London for only 25,000 Pounds and then get up to 18% per annum ROI from rental returns UK Tax Free” enthuses Collingz. “These figures probably seem Crazy to London Property Buyers unless they remember the prices of Flats and Apartments back in the late 70’s” and all of this comes complete with average 85 degree temperatures and sunshine nearly all year round” said Beth Collingz whom used to live in South Kensington and still owns several Chelsea Embankment Townhouses and St. Catherine’s Dock Flats before coming over to the Philippines

A major stumbling block for some Investors from the UK was the perception that purchasing property in the Philippines was risky with nightmare stories of fraud and deception abounding due to the lack of Professional Realtors and Internationally accepted principles’ of Real Estate Transactions.

With Pacific Concord Properties Inc adopting International Property Standards and the only Philippine Real Estate Developer to operate the Internationally accepted practice of Escrow Trust Account Banking for all payments made by buyers of it’s Condotel Suites, international offshore property investors need no longer worry about the security of their investments

Another drawback to purchasing property in the Philippines was that most overseas buyers of the real estate have become accustomed to normal home buyers standards like putting their money in escrow (which protects them if the developer does not deliver on its commitments) whenever they buy real property.

Pacific Concord Properties Inc., now sets that “International Standard’ in the Philippines with the “Buy Safe Payment Policy” of Escrow Trust Account Banking with Equitable PCI Bank, one the Philippines largest Banks, for the purchase of a Condotel unit in either the Lancaster Suites Manila, Lancaster Atrium Manila or Lancaster Cebu developments.

Buyers of Condotel units at the Lancaster Suites Manila, Lancaster Atrium Manila and Lancaster Cebu Resort Residences in Cebu, pay their Reservations, down payments and all monthly payments directly to the Companies Trust Account with the Bank thereby ensuring that funds are maintained and ultimately used only for the purpose of direct construction related costs. This not only guarantees that the buyers money is safe, but more importantly the development will be completed on schedule and within projected time frames for the project.

Collingz highlights the importance of working with those experienced in this type of transaction. “Buying property in the Philippines is significantly different from buying in the UK and other European countries, for example,” said Collingz. “The purchase process is more direct, with less stress and more accountability; and we work directly with the buyer or collaboratively with the client’s agent or representatives. Our goal—and that of Pacific Concord Properties Inc — is to make the whole process as easy as possible. Prospective buyers can view properties online on our Web site and save listings they’re interested in an online portfolio”

Communication is the key to the process, according to Collingz. “We spend a lot of time communicating with buyers before they visit, so that we all have a clear picture of the type of property that’s right for them. We also make travel arrangements and hotel accommodations and provide them with information in advance of their visit so they understand the process and their options. That way they can make the best use of their time here—and we can ensure they have time to get to know and enjoy the area.”

In many cases, buyers arrive for a three to five-day visit and sign a sales agreement before heading home. Pacific Concord Properties’ staff then handles every detail of the closing so that on their next visit, the buyers can enjoy their new home or investment property.

To further penetrate the UK Offshore Property Investors Market potential, PLC International Marketing Networks recently appointed SICO PROPERTY INVESTMENTS as their lead marketing partner in London, UK for Pacific Concord Properties Inc., Condotel Investments in the Philippines

Simon Dixon of Sico Investments, a Stockbroker on the London Exchange, recently visited the Philippines on behalf of several private investors and investments trusts in the United Kingdom to take a look at the Lancaster Suites Condotel developments in Metro Manila and Cebu

After personally doing his inspection tour, Simon purchased several Lancaster Condotel Suites and, is convinced the Philippines truly offers World Class Investment Opportunities in Real Estate for offshore investors from the UK whom are looking to purchase investment real estate specially Condotel Developments where the unit owner not only gains from property appreciation but receives a rental income through the Condotel Management representing some 14-16% ROI on their investments.

For more info on Condotel Investments in the Philippines please contact:

Beth Collingz
PLC International Marketing Networks
Pacific Concord Properties Inc
Lancaster Suites Condotels
Shaw Boulevard, Mandaluyong City
Metro Manila, Philippines 1552
EMail: plcsales@pldtdsl.net
Web: http://www.lancastersuites.com [Lancaster Condotels]
Web: http://www.plcglobalpinoy.com [Condotel Webring]

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The Lancaster Suites Team

Pacific Concord Properties, Inc. is proud to announce its collaboration with some of the real estate industry’s best players to complete and put the finishing touches on its Lancaster Suites Tower 1.

The task of providing efficient and state-of-the-art elevators has been entrusted to the Jardine Schindler Group. Founded in 1974, it is a joint venture between Jardine Matheson of Hong Kong and Schindler Group of Switzerland, and currently covers thirteen countries while employing approximately 3,000 people. Schindler is the preferred elevator of most 5-star hotels and commercial developments in the Philippines, with units installed at The Makati Shangri-La Hotel, The EDSA Plaza Hotel, The Shangri-La Plaza Mall, The Peninsula Manila, among others.

Songsong + Periquet Architecture Interiors (S+P) are at the helm of interior design works for the entire project, from the lobby to the commercial area and the condominium units for Condotel Pool participants. Established in 1987 by Arch. Joel L. Songsong and Ogie Periquet, PIID, S+P initially concentrated in providing personalized service for residential and commercial projects, but has expanded its services to include a variety of large-scale commercial/industrial projects, educational, recreational as well as mixed-use developments. Their recently completed projects include The Crowne Plaza Galleria-Manila, Cebu Midtown Hotel, De La Salle University College of Education, Holiday-Inn Galleria Manila, One Corporate Plaza and Baguio Country Club. 

Electrical, mechanical and water-proofing works are being undertaken by Romago Incorporated, backed by over 60 years of quality commitment to excellence in the electro-mechanical design and installation business. Included in their prestigious roster of projects are The Philippine International Convention Center (PICC), Cultural Center of the Philippines (CCP), The Manila Hotel, The Central Bank of the Philippines, SM North, SM Megamall, Metro Rail Transit (MRT), Rizal Commercial Bank Plaza, Far East Bank and Trust Co. Head Office, and The Manila Southwoods Golf and Country Club.

To ensure the quality and aesthetic value of our Aluminum and Glass Works, we have commissioned Wall Vision Corporation, one of the leading providers of finishing systems in the country. Since 1998, the company has strived to make a name for itself in the industry by providing high quality and uncompromising design, planning, fabrication, installation and management of architectural aluminum and glass products application. Its key technical staff has an average of 14 years’ experience in the industry, most of whom had pivotal roles in the aluminum and glass works of monumental projects in the Philippines. Their latest projects include the ABS-CBN Building, The Rockwell Center, The Philippine Aerospace Museum and The Insular Life Building.

We will start inviting unit owners to view their units commencing January 2007. The full completion of the building is estimated as early as February/March 2007 however, commissioniing of machineries and equipment such as water pumps, generators, etc. to ensure that everything is running smoothly will take a month or two later. At this point initial occupancy of unit owners (who will not join the condotel pool) can be expected. Actual turnover will depend on the acceptance of the unit buyers of his/her unit. For those who will be joining the condotel pool, unit turnover will start on the from 2nd quarter of 2007 since we have to fit out and furnish the units based on hotel standards.

For more info please do not hesitate to contact us:

PLC International Marketing Networks
Pacific Concord Properties Inc
EMail: plcsales@pldtdsl.net
Web: http://www.lancastersuites.com
Web: http://www.plcglobalpinoy.com

Foreign Nationals and Overseas Filipinos can now avail of mortgage loans for Lancaster Suites Tower I Condotel Suites in the Philippines or take Equity from their existing Condo Units for the purchase of new preconstruction condotel suites at the Lancaster Atrium

This is “really good news” for all existing unit owners and prospective buyers of Lancaster Suites Tower 1 Condotel Suites in the Philippines enthuses Beth Collingz, Director of PLC International, lead marketing partners of Pacific Concord Properties Lancaster Suites Condotel developments in Metro Manila, Philippines.

Banco De Oro (BDO) a commercial Bank in Metro Manila has just approved a buyer’s financing or mortgage scheme for the said project. Collingz stated that “The new financing scheme, a first providing Philippine Mortgages to Foreign Nationals residing overseas for the purchase of Condo units in the Philippines, is now available to unit owners (i.e., Filipinos, Filipino-Americans and Foreign Nationals alike) whom are looking to purchase a Condotel Suite or refinance their investments through BDO’s Home Loan”

Open to both residential and commercial unit owners and existing buyers of Lancaster Suites Tower I units whom have paid at least 30% of the total contract price of their units can loan up to 70% of the current unit market value.

Existing unit owners who are availing of Pacific Concord Properties in-house financing have the option to pay off their units in 144 months. With BDO’s Home Loan, unit owners can now opt to pay off the balance for up to 15 years [180 months] at only 11.5% per annum. By converting the existing in-house loan to BDO’s Home Loan, buyers will have more flexibility in paying off their loans at a much lower interest rate. What’s more, with BDO’s Home Loan, buyers can loan the full amount equivalent to 70% of the current value of their units regardless if they have already paid more than 30% of the units’ TCP. After paying the balance of the unit price to PCPI, the net amount will then be released directly to them. Buyers can take advantage of this offer to free up some cash as well as to finance the fit-out of their units in the condotel pool or their business set up requirements in their commercial units.

“Many of my previous clients whom have purchased units in Lancaster Suites Tower I are now set to cash in on their equity by availing of the new 15 year financing option to be able to reinvest in new units at Lancaster Atrium which is currently on preconstruction selling” said Collingz.

Collingz continued, “Not only will buyers of units in Tower I have rental income from their units from the middle part of 2007 that will partially offset mortgage payments, they can now free up their equity and take advantage of the current low prices for Condotel Suites in the new Lancaster Atrium and stand to make another 70-80% in property appreciation by the time the building is fully completed in 2010. This is really a fantastic offer from BDO and is initially available only to unit owners of Lancaster Suites Tower I Condotel units”

Pacific Concord Properties, Inc. is offering the perfect mix of both the right opportunity and the right timing. In recognizing the financial and emotional value of their investment, PCPI designed a program for all unit owners of Lancaster Suites and Lancaster Cebu that will help them maintain and generate income from their investment. More popularly known as the Condotel Advantage, this program will enable unit owners to gain access to PCPI’s experienced world-class property managers who will make sure of the complete and hotel-quality maintenance of the units enrolled in the condotel pool.
As part of the condotel pool, unit owners can relax knowing that their properties will be managed like hotel rooms. Finding tenants will not be a concern also as the property managers will be tasked in finding tenants for them to make sure that their units will earn a competitive rental income. By joining the condotel pool, unit owners will get to enjoy total hassle-free property management while earning rental income whether they are staying in the Philippines or residing in another country anywhere in the world

The Banco De Oro Super Value Home Loan program is open to ALL residential unit, commercial unit and parking slots owners of Lancaster Suites, whether:

a. Individual, Single, Married or Corporation
b. Filipino citizen
c. Filipinos married to foreigners
d. Foreign Nationals

For further info please do not hesitate to contact us:

Beth Collingz
PLC International Marketing Networks
EMail: plcsales@pldtdsl.net
Web: http://www.lancastersuites.com
Web" http://www.plcglobalpinoy.com