Condotel Property Boom in the Philippines fueled by tourism & retirement opportunities

Dec. 14, 2006 – Villar also mentioned that “I’m very bullish that this time, it will be stronger and longer-lasting than the one we enjoyed in the nineties. The real estate industry will drive our economy. The tourism boom which is also benefiting the property sector. It looks like we will be finishing the year with close to three million visitors, which is an all-time high. Just three years ago it would have been unthinkable to have three million tourists a year, but it looks like we’re on a roll as far as tourism is concerned.” He further added, “For the first time, we see a lot of people really talking about tourism. Old tourist sites are being reopened and new ones are being built. Existing hotels are enjoying higher occupancy rates.”

And it is not likely to end there. Tourism Secretary Ace Durano projects that the Philippines will be the destination of choice of some five million tourists by 2010, two million of which are expected to head for Cebu. To reach this target, however, the Philippines needs some 40,000 more hotel rooms. If there’s a perfect time to invest in rental real estate, especially in condominiums and hotels, it’s now.

Success in one’s personal and professional life can be attributed to two things – the right opportunity and the right timing. A critical mix of both these things can spell the difference between launching a successful venture and incurring a painful and possibly costly lesson on investing. With the current real estate boom which the Philippines is experiencing right now, opportunities in real estate investing are popping up everywhere. The question now lies as to when one should seize those opportunities. Right now it is not only a question of which opportunities to grab but when to grab them.

Pacific Concord Properties, Inc. is offering the perfect mix of both the right opportunity and the right timing. In recognizing the financial and emotional value of their investment, PCPI designed a program for all unit owners of Lancaster Suites and Lancaster Cebu that will help them maintain and generate income from their investment. More popularly known as the Condotel Advantage, this program will enable unit owners to gain access to PCPI’s experienced world-class property managers who will make sure of the complete and hotel-quality maintenance of the units enrolled in the condotel pool.

As part of the condotel pool, unit owners can relax knowing that their properties will be managed like hotel rooms. Finding tenants will not be a concern also as the property managers will be tasked in finding tenants for them to make sure that their units will earn a competitive rental income. By joining the condotel pool, unit owners will get to enjoy total hassle-free property management while earning rental income whether they are staying in the Philippines or residing in another country anywhere in the world.

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