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The Philippines Offers Affordable Real Estate Investments And Retirement Opportunities
For many British and Americans retirement is just around the corner. At home with low interest rates and high living costs prospects of pension living are daunting unless you downscale your lifestyle. Moving to retire in the Philippines is an option
By: Beth Collingz
The Philippines offers a significantly lower cost of living. The Philippine Peso exchange rate is approximately 45 to $ 1.00 or 91 to 1 Pound [Sterling (GBP)]. Housing, food, and labor costs are quite reasonable. A One bedroom condominium can be purchased for around $ 100,000 or GBP 50,000 or a Studio for only $ 60,000 or GBP 30,000 and one can dine out on average at a three star restaurant for less than 500 pesos. If you hire domestic help, a private driver’s salary is approximately 15,000/month, while trained housekeepers earn approximately 8,000/month. These salaries are lower if you live in the provinces.
Cable Television, Hi-Speed Internet and Satellite Communications are cheap. One can hire an air-conditioned taxicab for eight hours for less than $30.00. In a country where a provincial Governor’s salary is only about 35,000 pesos per month, and a Presidential Cabinet Under-Secretary earns something like 45,000, your pension can go a long way. So, if you have a retirement income in the region of $1,500 to $2,000 per month (70,000 to 90,000 pesos) you can live quite well in the Philippines.
The Philippines offers affordable real estate and good investment opportunities for those seeking a retirement haven.
“Where can you find a 350sqft freehold flat in the heart of Central London for only 30,000 Pounds and then get up to 14% per annum ROI from rental returns” 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
If you have $60,000 or GBP 30,000 to invest, here are some buys you could make right now with that budget:
1. A Freehold 'off plan' unfurnished Studio Condotel Suite at the Lancaster Atrium Manila for Initial Property Appreciation Investment and Rental Income from 2011 in Metro Manila, Philippines.
2. A Freehold fully furnished ready for occupancy Studio Condotel Suite at the Lancaster Suites Manila or for Condo Hotel enrollment and immediate Rental Income in Metro Manila, Philippines.
3. A Freehold fully furnished ready for occupancy Studio Condotel Suite at the Lancaster Cebu Resort Residences or for Condo Hotel enrollment and immediate rental income in Cebu, Philippines.
Pacific Concord Properties, Inc., Flagship Lancaster Condotel developments located along Shaw Boulevard, Metro Manila, are 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 of up to 14% per annum once fully operational
Lancaster Atrium is offering Condotel Studios, One, Two and 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”
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 entry level prices in the Philippines and the easy payment options available for our condo hotel 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 Condo Hotel 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 up to 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 Condo 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.
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 conversion by Pacific Concord Properties located in Mactan, Cebu - the area around Cebu International Airport - fits the bill with all it offers to International buyers.
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 Condo Hotel 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 Condo Hotel 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 Condo Hotel Investment “Boom” in the Philippines.
Philippine real estate, medical, social services, and employment agencies are now working together under the government’s Philippine Retirement Authority (PRA) to set up standards and make the retirement industry truly world class. Under the active direction of retired Philippine National Police chief, Gen. Edgar B. Aglipay, chairman of the Philippine Retirement Authority, plans have been put in place to ensure that the growing demand for housing and ancillary services for the retirees are met. The objective is to turn the country into the retirement haven in Asia.
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PLC International Marketing Networks, with its internet based Global Agency, are the lead marketing partners with Pacific Concord Properties Inc for the Lancaster Brand of Condotels in the Philippines
PLC International Marketing Networks
Pacific Concord Properties Inc.,
Manila Head Office
Shaw Boulevard, Mandaluyong City.
Metro Manila. Philippines
Phone: Manila  717 1958
Fax: Manila  718 1828
Pacific Concord Properties Inc.,
Cebu Branch Office
Lapu-Lapu City, Mactan.
Phone: Cebu  340 0721
Fax:  495 4938
Web: http://www.lancastersuites.com [Lancaster Condotels]