Sharia Compliant Buy-to-Let Finance Launched for Philippine Condo Hotel Investors from the Middle East
|Lancaster Brand of Condotel Investments in the Philippines|
08.07.2008 08:54:45 Manila Condo Hotel developer Pacific Concord Properties has launched a new 12 year buy-to-let finance product designed for investors looking at making long-term rental returns in the Philippines
The no prequalification no down payment finance is available to anyone wishing to invest. Foreign Nationals, whether resident or not in the Philippines, local residents, including non-nationals based in the country together with overseas investors.
“The property market in the Philippines is one of the most attractive markets in terms of rental yields because the entry level for the purchase of the property is extremely low compared to similar property in the US, Puerto Rico or Panama markets but Hotel rates are more or less the same if not more expensive in Manila,” said Beth Collingz, Overseas Sales Director of PLC International Marketing Networks the lead marketing partners for Pacific Concord Properties Lancaster Brand of Condotels in the Philippines. “For property investors, self-employed professionals and others participating in this high-growth market, our ‘In-House’ financing or developer extended loans allow investors the opportunity to partially utilize rental returns to cover the cost of finance. In other words, some 50% of the finance will pay for itself. This unique value proposition, with its Sharia-compliant structure, offers significant opportunities for new and current investors to participate in the country’s real estate success story.”
The new Twelve  Year Payment Plan provides for Lancaster Atrium Executive Studio [Semi Fitted] Condotel Suites to be purchased with Reservation of only -Php-25,000.00 for a 28.17sqm [304sqft Executive Studio [Contract Price -Php-2,574,963.36] then 48 consecutive monthly payments of only -Php-23,905.91 [No Interest for the first 4 years] and thereafter 96 consecutive monthly payments of -Pph-27,661.41 to complete the balance of the purchase price. Anyone from Overseas Filipinos to Offshore Property Investors and Foreign Nationals looking to start saving for retirement, the Philippines with its comparative low cost of real estate yet high rates of Hotel Accommodations, make the Condo Hotel 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” said Collingz.
“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 Condo Hotels 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 Philippine Condo Hotel units. Many or our clients are coming from different countries such as Russia, 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 Condo Hotel Investment Opportunity” encouraged Lim.
For further info please do not hesitate to contact us:
PLC International Marketing Networks
Pacific Concord Properties Inc., Manila Head Office
Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines
Phone: +6332 340 0721