UK Investors Buying Philippine Condo Hotel Investments like crazy

May 5, 2007 - PRLog -- 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: “Since the UK Pound Sterling hit 94:1 on the Philippine Peso, my phone has been very busy with buyers from the UK and Scotland interested in purchasing investment properties and holiday homes here in the Philippines"

"A lot of this interest is being driven by the relatively cheap market prices in the Philippines compared to Europe, especially 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 8-14% 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”

The Condo Hotel concept is attractive to many who are interested in investing their hard earned pennies in real estate. One type of condotel purchaser is someone seeking a vacation place, but due to the limited amount of time they anticipate being able to spend there, buying a traditional condominium would not seem an economically sensible investment.

Another condotel purchaser is just too busy to focus time and attention on the maintenance and upkeep of another property, but sees the benefit of having professionals manage their property while still having the ability to use the property when they choose, and appreciates an investment with the ability to offset expenses through the rental program.

In Philippine hotspots such as Metro Manila, and Cebu, where the condo hotel market is considered to be extremely lucrative, typical buyers are investors looking for promising real estate deals in an area with a proven track record of appreciating in value. Many buyers in Metro Manila are from America, Australia and Europe, places where Philippine real estate prices are seen as bargains, and the Philippine Condotel market with the Lancaster Brand of condotels adopting International standard escrow trust account banking, is considered a safe place to invest.

Condo-hotel-unit purchasers are in essence unique in the opportunity to buy into multimillion-dollar hotel developments for a relatively small cost, and not just investing in a single unit. Buyers can choose to lease their units when they are not occupying them. Most condo hotel units include hotel services in the package deal. Buyers at the Lancaster Condotels are treated as guests, and able to enjoy amenities such as room service.

Investors choose the condotel avenue for different reasons. Some enjoy ownership of real estate, with attractive amenities someone else maintains for them. Others look at the potential the long-term appreciation value, with little investment of time and attention, offering them the financial stability that may one day afford them the ability to enjoy retirement.

Website: www.lancastersuites.com