Construction costs in the Philippines are seen to increase by more than 25% this year due to steep global steel, cement and copper prices rises on the back of US Dollar devaluation.
Nearly all construction materials used in the development of Philippine high-rise buildings are imported. With the strong continued depreciation of the US Dollar value in the South-East Asia, construction materials exported from China, Korea and Taiwan, together with shipping costs, are increasing at a phenomenal rate as exporters of steel, electrical components and cement in the region set upwards of 20% price increases to offset the Dollar’s regional devaluation.
Beth Collingz, PLC International Marketing Networks Sales Director and lead Marketing Partners for Pacific Concord Properties Inc’s Lancaster Brand of Philippine Condotels anticipates substantial increases in construction costs over the next 18-24 months will force developers in the Country to make adjustments to their selling price for new condo developments going up in Manila and other cities.
Now is the time to invest in Philippine Real Estate and lock in at current price levels said Collingz who’s Lancaster Condo Hotel brand offer the security of International Standards of Trust Account Escrow Banking facilities for all buyers payments. We are looking at 17% price increases within the next 30 days on all our inventories of Condo Hotel units at Lancaster Atrium Manila. Buyers whom reserve now can take advantage of current prices locked in for their units and see an immediate equity return on their investment.
With these price adjustments Studio Suites will be priced from Pesos: 88,888.00/sqm whilst One, Two and Three Bedroom will run from Pesos: 99,554.56/sqm effective April 16, 2008
The Lancaster Atrium Suites are available on the very affordable and competitive New Payment Plan that provides for Suites to be purchased on a 12 year Payment Plan that provides for 50% of the purchase price of the unit to be paid over 4 years without interest and the remaining 50% over 8 years which can be partially or fully offset from income on the Condotel rentals
The current selling price [effective until April 16, 2008] for the Lancaster Manila Atrium Tower A Tax Exempt [Semi Fitted] Studio Units are priced at Philippines Pesos [PHP] 75,888 per sqm. One Bedroom, Two and Three Bedroom [Semi Fitted] Suites are priced at Pesos [PHP] 84,994.56 per sqm including Government Taxes [R-Vat 12%].
Units may be purchased on a Six Year No Interest Charge Term of payment or longer term "In-House" financing plans. Turnover of units for Tower A will be from December 2010
All payments will be made to the Lancaster Suites Manila Atrium Tower A Equitable PCI Bank Escrow Trust Account. It is anticipated, given the track record on sales of Tower I Units that property appreciation for initial buyers of Tower A Atrium Units will be at least 60-70% on turnover of units.
Executive Deluxe Studio Condotel Suites [Semi-Fitted Option 2]
Price: January 1, 2008
Lancaster Suites Manila Atrium Tower II Executive [Semi Fitted] Studio Suites. Average Floor Area 32.50 square meter [350sqft] at -Pph-75,888.00.00/
Alternatively Save -Pph-171,482.00 by making the Reservation, -Pph-25,000.00 then within 30 days a 30% Net Discounted Down Payment of -Pph-585,926.40 and Balance payable without interest over 72 consecutive equal monthly payments of -Pph-23,735.44.
The Lancaster Atrium Executive Studio Suites are also now available on the very affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans...
Pay only -Pph-25,000.00 Reservation for a 32.50 sqm [350 sqft Executive Deluxe [Semi-Fitted]
Cash Payment option, take a 20% discount on the contract price of the unit [Save -Pph-493,272.00]
Lancaster Atrium Semi Fitted Executive Studio Suites may now be Purchased on 12 Year Payment Plan Options
The New Twelve [12] Year Payment Plan provides for Executive Studio [Semi Fitted] Condotel Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 32.50sqm [350sqft Executive Studio [Contract Price -Pph-2,466,360.00]
All Lancaster [Semi Fitted] Residential Suites Unit Features Include:
• Vitrified ceramic tiles in living, dining areas
• Ceramic tiles in kitchen and toilet and bath
• Toilets with mechanical ventilation
• Plastered cement walls and cielings with painted finishes
• Provisions for split type air-conditioners
