With depreciation of the US Dollar and continuing strengthening of the Philippine Peso, Lancaster Suites Manila preconstruction condotel investors are now projected upwards of 16%-24% ROI on their investments during the first 6 months of operations from January 2008
Mandaluyong City, Metro Manila, Philippies -- (ReleaseWire) -- 11/12/2007 -- Lancaster Suites Tower I Manila, located along Shaw Boulevard, Metro Manila, is a Brand Name Condotel Investment of Pacific Concord Properties Inc, and soon ready to accept guests in the Condo Hotel. Under the management of Lancaster Hotels, Land and Properties, Inc. [LHLPI] rental operations of LCRR will be soft launched January 1, 2008.
Beth Collingz, International Marketing Director of PLC Global an internet based sales and marketing company and lead marketing partners with Pacific Concord Properties, Inc., for the Lancaster Brand of Condotels in the Philippines, said the original or early bird Lancaster Suites preconstruction investors whom purchased at our pre-launch purchase price on the back of the depreciating US Dollar are now projected to earn upwards of 16%-24% ROI on their investments, depending upon their purchase price and terms of payment, in the first 6 months of operations from January 2008 and have seen a 90% appreciation in their real estate investment over the past 3 years.
Clients whom purchased Tower I condotel suites at the pre-selling price 3 years ago are now set to earn even more on current room rates in Manila of up to 24% per annum returns on their investment through the Condotel rental incomes. Three major factors are driving returns on Philippine Condotel Investments to exceptional highs. 1. High Room Rental Rates; Hotel rates in Manila of U$100/120 per night are the same as those in Honolulu for example. 2. Low Operating Costs; the Philippines remains one the cheapest labor markets in South East Asia, and; 3. Shortage of short term Rental Accommodation; as anyone whom has tried finding rooms or apartments to rent for one or two months stay has undoubtedly found out said Collingz.
Property is all about LOCATION said Collingz. Lancaster Suites, centrally located along Shaw Boulevard, Metro Manila some 200 meters from EDSA-Shaw Boulevard Light Rail Transit Station and the Ortigas Center business district, SM Mega Mall, Shangri-La Mall, Edsa Plaza Hotel, and the Asian Development Bank, San Miguel Corporation and Banco de Oro Head Office, provides guest access to its own unique Mini Mall feature with prerequisites of the urban dweller. Schools, hospitals, banks, restaurants, shopping malls, and leisure are all found within a few minutes from the Condotel. This ideal location will complement the Condotel operation since Lancaster Suites Manila will function as a condominium hotel – a preferred accommodation choice of businessmen and holiday travelers alike. Clients can either purchase Condotel Suites for investment purposes or lease the units on weekly, monthly or yearly basis.
For the soft launch, LHLPI will prepare special promotional room rates aimed at budget and business travelers whilst longer term discounted rates for monthly and yearly lease rentals are also to be made available said Collingz. Room Rates, from January 1, 2008 for a fully furnished Studio run from US$82.00 on monthly rentals up to US$ 100/night for daily rates and are inclusive of service charge and government tax with Complimentary breakfast daily
Clients wishing to purchase units may do so and we currently have a few Executive Studio Suite and One-Bedroom Suites available at Lancaster Suites at Pre-Operational Prices that will be “Ready For Use from January 2008”… at the current price said Collingz.
Tower I Executive Studio Suites may be purchased with a Reservation Fee of -Pph- 25,000.00 then 30% Down Payment of -Pph-659,583.34 within 30 days and the resulting balance payable over 12 equal consecutive monthly installments of -Pph-128,252.32. Interest Free. For clients intending to enroll units in the Condo Hotel Rental Pool a complete Condotel Suite "Fit-Out" package including all required items of furniture's, furnishings, appliances, air-conditioning, kitchen utensils, dinnerware's, linens etc is now available for Studio Suites ranging from -Pph-403,715.00 said Collingz
US based investors at Lancaster Suites Manila can take advantage of their 401K or IRA allotments whilst UK clients can avail of retirement tax incentives for the purchase of condo units under their Self Invested Pension Program [SIPP].
Metro Manila remains a popular choice with international buyers and institutional investors. Collingz says clients tell her that it makes more sense to buy in a year-round vacation destinations and business centers. Lancaster - The Atrium Condotel developments by Pacific Concord Properties located in Shaw Boulevard, Metro Manila - fits the bill with all it offers to International buyers.
Accessibility is also a factor. “Flights from London to Manila, for example, average just 16 hours, add to that the many airline specials and it’s easy to see why this area 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 its flagship Lancaster Condotel Developments fit’s the bill enthuses Collingz