Condotel Investments: Not Always a Smart Idea in the United States ! Even with record room rates, owning your piece of the condo-hotel business in the United States might not be so profitable, experts are saying. Yet thousands of investors have yet to figure that out. Economic indications show a trending towards recession in the United States real estate industry with lower demand, higher interest rates and falling property prices. Take Out from the equation recent yearly average appreciation of real estate in the short-mid term. Any US investment at this time is now viewed as long term. American Real Estate Investors are buying Studio Suites in Florida ranging in price from $500,000 each at a South Beach condo hotel. In other areas prices are even significantly higher. But will that be enough to cover the investment? Only time will tell whether it was wise to purchase a Condotel Suite in the United States for this kind of entry level price, with optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Analysing the current market prices and trend in interest and occupancy rates, we think there's going to be a lot of disappointed buyers of Condotels in the United States. Condo-hotel buyers in the United States shouldn't think revenue from the units they buy will cover a Florida mortgage, particularly with current prices. A new study goes further and predicts most South Florida real estate projects of this nature won't even cover maintenance fees, property taxes or other costs. In a recent report, issued by the National Association of Condo Hotel Owners (NACHO), it projects returns for typical condo-hotel units in Fort Lauderdale, Miami, Miami Beach and Coral Gables. Assuming owners keep 35-40 percent of the rent (the standard share) they would pay between $500-15,000 a year to cover expenses. That assumes they paid cash for their units, too. There's the small matter of Florida home mortgage payments and interest fees, which would be extra. On top of insurance, Florida mortgage payments and property taxes, and a flood of new luxury hotels, will keep rates too low to make the units profitable. In fact, the study cites the small hotel market of Coral Gables as the lone location where condo-hotel buyers could expect returns (of a modest 1-2 percent) on their units. Condotel Investments: A Smart Idea in the Philippines ! Owning your piece of the condo-hotel business in the Philippines will be more profitable than the same investment dollar for dollar in the United States. It's amazing that thousands of US property investors have yet to figure that out. Offshore Property Investors are buying Studio Suites in Metro Manila and Cebu, Philippines ranging in price from $36,000 each. At these entry levels, this will be more than enough to cover the investment. Only time will tell whether it was wise to purchase a Condotel Suite for this kind of entry level price, however simple mathmatics and common sense dictates in the positive with increased optimism about profits from condotel operations -- where buyers rent their units for a share of the rental revenue. Hotels in Metro Manila operate on an average high 80's% occupancy rate with Cebu even higher pushing into the 90's% occupancy. Analysing the current Philippine market prices and trend in the Countries interest and occupancy rates, we think there's going to be a lot of very happy investors and buyers of Condotels in the Philippines. Condo-hotel buyers in the Philippines dont even have to worry about interest rates because developers offer short term payment plans over 2-5 years at zero interest so buyers can immeadiately think revenue from the units they buy because they dont have to worry about computing income to cover the interest portion on a developers interest free payment plan. The savings on interest payments are more than enough to cover maintenance fees, property taxes or other costs. Returns for typical condo-hotel units in Metro Manila & Cebu, Philippines are much higher because owners keep 60 percent of the rent. With current market prices for Hotel Accomodation, assuming they paid cash for their units, rental ROI's could go as high 8%-14% per Annum and better yet, as most hotel clients pay their bills using major US Credit Cards, the overseas investors are going to receive their rentals in US Dollars avoiding any concerns over fluctuating exchange rates ! Moreover, because the entry level is 90% less per Studio Suite in the Philippines, the risk factor is greatly deminished. Moreover, real estate appreciation is running 25% per annum on pre-construction purchases and around 15% per annum on completed units..... combine this with possible Tax benefits for US Offshore Investors and the Philippines has to be a "Win-Win" opportunity.... For the price of garage in the US nothing to loose and everything to GAIN ?? Guessing on Revenue from Condotels in the United States Would-be buyers of condo-hotel projects in the United States are largely left to guess at the revenue their units will generate because Federal security law bars real estate developers from passing on the projected hotel guest rate to condo-hotel buyers. Real estate agents in the US can lose their licenses if they talk to you about how much income you're going to generate, as a matter of fact. With US hotels unable to provide their rate projections, staffers often urge buyers to do their own research on nearby hotels. But that's not exactly easy, as virtually no hotels release year-end financial data, and rates quoted at the front desk fluctuate day to day. Solid Information and Revenue Data from Condotels in the Philippines Buyers of condo-hotel projects in the Philippines are not left to guess at the revenue their units will generate because there are NO Federal security law that bars real estate developers from passing on the projected hotel guest rate to condo-hotel buyers. Real estate agents in the Philippines can't lose their licenses if they talk to you about how much income you're going to generate, as a matter of fact. Philippine hotels are readily able to provide their rate projections. This enables the Condotel unit investor all the information he needs to calculate the rental returns and ROI on his investments making the purchase practically risk free.... Condotel Investments in the Philippines. Condotel Developments are now available in the Philippines through Pacific Concord Properties Inc's Lancaster Suites Manila and Lancaster Cebu projects A Condominium Hotel or "Condotel" combines the convenience of a residential condo with the amenities of a hotel. It is not an ordinary Condo Building. It is specifically designed architecturaly, as a Hotel first and foremost with Hotel Style Suites which are normally larger than regular residential units. A Condotel normally has more amenities, facilities and services not found in condominiums. Condotels are completely different from Residential Condominiums where unit owners can act as a landlord and rent their units privately or have someone rent their units for them. Rental Income from a Condotel Unit is normally 30-40% higher that a regular rental because the Hotel concept offers the option of daily, weekly, monthly leases which ordinary private condo unit owners would not normally entertain. Unit owners in a "Condotel" may opt to join the rental pool where he signs with a professional hotel management team who will convert the project into a world class hotel / serviced apartment. A serviced apartment is run just like a hotel but guests usually stay on a long term basis. For the tenant, this means savings since he is not charged a daily rate nor does he have to put up a security deposit like in a regular apartment. Aside from real estate appreciation, unit owners receive a steady monthly income based on the size of their unit regardless of whether said unit was leased or not. This is because the hotel management will pool together the total income of the entire hotel and distribute this to unit owners net of any expense. This makes the investment cost efficient and practically risk free. Unit owners in the rental pool enjoy totally hassle-free CONDOTEL management. They need not worry about unpaid electricity bills, unpaid rent, and other problems so common in conventional leasing. All concerns, down to the payment of electricity bills and utilities are taken cared of by the professional hotel management operator. Condotel Suites can be purchased as vacation homes to buyers whom would probably only occupy the units no more than one month per year. In normal circumstances the unit owner pays the maintenance and upkeep of the unit for the entire year without deriving any benefit. However in a Condominium Hotel, during the time they do not occupy their units, they have the option to rent out their Condo through the hotel management and receive rental income on their property making the ownership of a unit an income generating property and self-liquidating investment with hassle-free property management as the hotel can rent out their unit, with all the services provided, by day, week or month. Because of the additional superior features and services provided by the hotel, Condotel Suites are normally valued 15 to 20 % higher than same size residential units without added hotel features and amenities.... In the Philippines, an example of this new breed of investment is the Lancaster Suites now under completion located along Shaw Boulevard, Metro Manila where unit owners can sit back, relax, and wait for their monthly rental income from anywhere around the world. Since Lancaster Suites is a full service Condotel, unit owners also enjoy full hotel services such as 24-hour telephone operator service, a local PABX telephone line in each unit (no need to apply for your own landline), 24 hour House Keeping service, Laundry pickup service on demand, even as a resident. Pacific Concord Properties’ President & CEO, Mr. Ronald Lim is the author of the professionalized Condotel Concept in the Philippines wherein unit owners in the rental pool get equal rental income per square meter; per month. Fairness is assured since all Lancaster Suites unit owners enrolled in the rental pool earn equal rental income based per square meter. All unit owners will earn the same amount per square meter regardless of actual unit usage. This makes the Lancaster Suites a profitable, transparent and fair investment especially for foreigners and overseas based Filipinos. At Lancaster Suites, there is no property Management Fee. The Lancaster Suites [Manila] is designed and conceptualized as a private residential Condominium Hotel ["Condotel"] or a fully serviced private residential condominium building with all facilities of a Hotel, Room Service, 24 Hour Security Guards and Reception, PABX Telephone Operators, High Speed Internet & Cable TV etc………… even an integrated Mini Mall ... The units in the building are all privately owned by the respective buyers. The unit owner has the "option" of enrolling his or her unit in the Lancaster Suites "Condotel" Rental Pool. The building and the rental pool will be managed and operated by Lancaster Hotels & Resorts which is a affiliate company of the Owner/developer Pacific Concord Properties, Inc., If the unit owner opts to enroll a unit in the "Rental Pool" there are no upfront or any kind of "Management Fees" payable whatsoever. The unit owner merely has to enroll the unit for a yearly period, however they may still use the unit for 1 month within the calendar year with notice…. The Lancaster Suites will operate as a Private Hotel and will source clientele from Travel Agencies, Advertising, Local Chambers of Commerce, Business Establishments and other prominent organizations in the Ortigas Center area etc as would any other Hotel in Manila……. The Lancaster rental pool will operate on a "Co-operative" basis. Example: There are 50 units enrolled in the pool with a total floor area of 1,500 square meters. The Hotel room operations derive a monthly rooms rental income of 2,640,000.00 pesos on 80% occupancy for the calendar month. The unit owners will receive a 60% share of the net proceeds as share of the rentals. This however will be paid as a "Dividend" based upon the total floor area of the rental pool. Example: Proceeds in Pesos 2,640,000.00 x 60% = 1,584,000.00 divided by the total floor area of the rental pool units [1,500 sqm] = 1,056 pesos per square meter which will be paid as the monthly rental dividend. Hence, if you owned a Studio Unit in the rental pool, you share of the proceeds for the month would be your floor area, example 30 square meters, multiplied by the dividend of 1,056 pesos. Ergo: your rental income would be 31,680.00 pesos monthly. This is pro-rated whether you own a Studio, 2 Bedroom or Penthouse Suite or an annual gross ROI through rental income of some 18% [16% net] on todays cash purchase price of a condotel suite. Moreover, because this is "Cooperative" basis, even if your unit was not actually used during the month you still get a share of rental proceeds because of the pro-rated pool sharing system of dividends… There are in all Condominiums the "Monthly Condominium Dues" payable to cover such recurring expenses as the maintenance of the common areas, security guards etc….. however, in a Condotel, building maintenance and operations is subsidized by the additional revenues a condotel provides the building management The Lancaster Suites is Full Property Ownership - Not Time Sharing Most real estate "Agents" would seem to have a totally incorrect about Condominium Ownership in the Philippines that a Condo Unit can be only be owned for 50 years. This idea wherever it came from is total bull. The property held by Pacific Concord Properties, Inc., for the Lancaster Developments is a "Freehold" property. It is free from all loans, mortgages and any other encumbrances. The property is not leased. The land where Lancaster Suites [Manila] is located is fully owned. It is covered by a Land Certificate of Title reproduced in the corresponding owners Transfer Certificate of Title [TCT]. This applies to all Condominiums in the Philippines registered under the Condominium Act [Republic Act 4726]…………… Lancaster Suites [Manila] is fully owned and titles issued and transferred into the name of the Condominium Corporation in accordance with the Condominium Law. The Lancaster Manila Condominium Associations are incorporated and registered with the Housing & Land Use Regulatory Board …. Each individual unit [as well as all the "Common Areas"] in the building are covered by, and owners will be issued a full Condominium Certificate of Title [CCT] representing their ownership in fee simple of the Condominium Unit. There is no "time limit" as to ownership of the Lancaster Condominium Units. This [Lancaster] is not a "time sharing" Condominium. However, where the "50 Year Term" is applicable is the charter of Corporations under the Corporation Code. This has nothing to do with ownership of a Condominium Unit per see. However, you must fully understand the mechanics of a Condominium Corporation, that owns and holds freehold titles to the land, of which the unit owners are automatically stockholders and members and the rights and privileges of owning a Condominium Unit covered by Condominium Certificates of Title representing ownership in fee simple of the unit. As with any Corporation, the Lancaster Suites Manila Condominium Associations will have stockholders and members. The Stockholders and Members will comprise of each and every holder of a Condominium Certificate of Title [CCT] of a unit in the building. This is where the 60% - 40% ownership rule by Filipinos/Non-Filipinos derives and is applicable as it is the Condominium Association that owns the Land and holds "Freehold" title thereto. Each holder of a CCT is automatically a stockholder and member of the Association and has all rights and privileges as a stockholder of any corporation. He has the right to vote [according to the number of units he owns] and he is also entitled to pro-rated share of the assets of the Corporation upon it’s dissolution which can only be done by a majority 2/3rds vote. In this case the "assets" of the Corporation are Freehold Land Titles together with Titles to the "Common Areas" of the building. Now here’s where the 50 year thing comes from…… A corporation under Philippine Law has for it’s Charter the existence in Law for a period of 50 Years. At the end of the 50 years, the then Stockholders of the Corporation [which are all CCT holding unit owners] may vote to renew the Corporate Charter for another 50 years…. Or vote to dissolve the Corporation in which case the "Assets" of the Corporation may be sold and proceeds equally divided among the stockholders on a pro-rated basis. This means that a unit owner in a building of let’s say 300 units assuming he owns one unit would get a 1/300th share of the proceeds of any sale of the assets…. For anyone interested in Condotel Investments at the Lancaster Suites, the Current Prices & Available Condotel Units are as follows... Pacific Concord Properties, Inc., Flagship Lancaster Suites Condotel [Manila] development located along Shaw Boulevard, Mandaluyong City, Metro Manila, one of the hottest Condotel Investments in the Philippines To be called Lancaster - The Atrium [which is the second Tower adjacent to the existing “Sold Out” Tower I] we are now accepting Reservations for Studio, One, Two & Three Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with 6 year interest free payment terms or up to 12 year "In-House" financing available, full condo ownership, no management costs for Condotel Suites, no enrollment charges for joining the Condotel Rental Pool, and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity Lancaster Manila Atrium Tower A, Shaw Boulevard, Metro Manila, Philippines is a "Full Service" Condominium Hotel ["Condotel"] offering Studio, One, Two and Three Bedroom Suites for sale. To be completed and ready for turnover from December 2010, the Lancaster Suites Manila Atrium Tower II will provide unit owners with premier residential condo units with option of enrolling their units in the Lancaster Condotel Rental Pool. Great Investment for Fil-Am's whom visit Manila for Vacations or Business as they can earn Rental Incomes [at current purchase levels] of some 12-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Cebu Resort Residences. This makes Lancaster Suites one of the Hottest Investment Opportunities in the Philippines. Units at the Lancaster Suites have basic kitchen facilities. The standard unit price [Option 2 – Semi Fitted Suites] provides for the suite to be semi-finished but not fully furnished or fitted. Included in the current standard basic price for the ‘Semi-Fitted’ units are the interior finishing’s such as tiled & fitted bathrooms, bedrooms with simulated wood plank flooring, semi-fitted living and dining area tiled floorings and lower kitchen cabinets/work tops installed. Ceilings and walls are painted cement finish. Units are also available on a Bare Unfinished basis [Option 1 – Bare Unfinished Units] for clients intending to fit-out their own suites or avail of the Condotel completion at a later date. A complete Condotel Suite optional extra interior fit-out package including unit fixtures and fittings, furniture’s, furnishings, light fittings and fixtures and appliances including air-conditioning will be available towards the time the units are closer to being completed towards the latter part of 2010. Monthly condo dues are currently around 80 pesos/square meter of the unit floor area/month. Executive Studio Deluxe Suites [Option 2 - Semi Fitted Suites] Price Effective: May 25, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster Atrium Tower A Executive Deluxe Studio Suites. Average Floor Area 32.50 square meters [350sqft] at -Php-75,888.00/sqm. -Php-2,466,360.00. These units are either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati and towards Manila Bay or Swimming Pool Deck. All units within the Lancaster Suites Manila Atrium. The Current Offer for a Studio Suite provides that it may be purchased with Reservation -Php-25,000.00 and Balance Payable without interest over 72 consecutive equal monthly payments of -Php-33,907.78. Alternatively Save -Php-146,481.92 by making Reservation -Php-25,000.00 then within 30 days a 30% Net Discounted Down Payment of -Php-585,926.40 and Balance payable without interest over 72 consecutive equal monthly payments of -Php-23,735.44. Lancaster Atrium Executive Deluxe Studio Suites are also available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay -Php-25,000.00 Reservation for a 32.50sqm [350sqft Executive Studio [Contract Price -Php-2,466,360.00] then 60 consecutive monthly payments of -Php-27,261.85 with the balance of -Php-805,648.80 either payable in cash on turnover or to be financed over another 60 months payment plan..... Cash Payment option, take 20% discount [Save -Php-493,272.00] make Reservation [-Php-25,000.00] and within 30 days pay 90% [-Php-1,753,279.20] the remaining 10% [-Php-194,808.80] on unit turnover from December 2010 Lancaster Atrium Semi Fitted Studio Suites may now be Purchased on 12 Year Payment Plan Options The New Twelve [12] Year Payment Plan provides for Executive Studio [Semi Fitted] Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 32.50sqm [350sqft] Studio [Contract Price -Pph-2,466,360.00] then 48 consecutive monthly payments of only -Pph-17,801.58 [No Interest for the first 4 years]. During the first 4 years there is an Annual Lump Sum payable on the anniversary of the reservation date of -Pph-91,551.00 and thereafter continue the 96 consecutive monthly payments of -Pph-24,075.73 to complete the balance of the purchase price. One Bedroom Corner Suites [Option 2 – Semi Fitted Suites] Price: May 25, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster – The Atrium Tower A One Bedroom Corner Suites. Average Floor Area 62.82 square meters [675 sqft] at Philippine Pesos -Pph-84,994.56/sqm. -Pph-5,339,358.26 [Including Taxes] These units are all Corner Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within the Lancaster Suites Manila Atrium. Current Special Offer for a One Bedroom Suite provides that it may be purchased with a Reservation Fee -Pph-25,000.00 and Balance Payable without interest over 72 consecutive equal monthly payments of -Pph-73,810.53. Alternatively Save -Pph-318,861.64 by making Reservation -Pph-25,000.00 then within 30 days a 30% Net Down Payment of -Pph-1,275,445.98 Balance payable without interest over 72 consecutive equal monthly payments of -Pph-51,667.37. Lancaster Atrium One Bedroom Corner Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay only -Pph-25,000.00 Reservation for a 62.82 sqm [675 sqft One Bedroom Suite [Contract Price -Pph-5,339,358.26] then 60 consecutive monthly payments of only -Pph-59,343.67 with the balance of -Pph-1,753,738.23 either payable in cash on turnover or to be financed over another 60 months payment plan..... Cash Payment option, take 20% discount [Save -Pph-1,067,871.65] Reservation –Pph-25,000.00 then within 30 days pay 90% [-Pph-3,821,837.95] and the remaining 10% [-Pph-424,648.66] on unit turnover from December 2010 Lancaster Atrium Semi Fitted One Bedroom Suites may now be purchased on 12 Year Payment Plans The New Twelve [12] Year Payment Plan provides for One Bedroom [Semi Fitted] Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 62.82sqm [675sqft One Bedroom Suite [Contract Price -Pph-5,339,358.26] then commecning within 30 days, 48 consecutive monthly payments of only -Pph-38,750.53 [No Interest for the first 4 years]. During the first 4 years there is a Annual Lump Sum payable on the anniversary of the reservation date of -Pph-199,288.43 and thereafter 96 consecutive monthly payments of -Pph-52,408.11 to complete balance of the purchase price. One Bedroom “Loft Type” Suites [Option 2 - Semi Fitted Units] Price: March 1, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster Atrium Tower A Executive 1 Bedroom "Loft Type" Suites. Floor Area 50.69 sqm [546 sqft] currently priced at Philippine Pesos -Pph-84,994.56/sqm. -Pph-4,308,374.25 [Including Taxes] These 2-Storey ‘Loft Type’ units are overlooking the Swimming Pool Deck. All units within Lancaster Suites Manila Atrium. Current Special Offer for a One Bedroom "Loft Type" Suite provides purchases with a Reservation Fee -Pph-25,000.00 and Balance Payable without interest over 72 consecutive equal monthly payments of only -Pph-59,491.31. Alternatively Save -Pph-257,002.19 by making Reservation -Pph-25,000.00 then within 30 days a 30% Net Down Payment of -Pph-1,028,009.82 resulting Balance payable without interest over 72 consecutive equal monthly payments of -Pph-41,643.92. Lancaster Atrium One Bedroom "Loft Type" Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay -Pph-25,000.00 Reservation for a 50.69 sqm [546 sqft One Bedroom "Loft Type" Suite [Contract Price -Pph-4,308,374.25] then 60 consecutive monthly payments of -Pph-50,792.22 with balance -Pph-1,501,023.90 either payable in cash on turnover or to be financed over another 60 months payment plan Cash Payment option, take 20% discount [Save -Pph-649,528.44] Reservation -Pph-25,000.00 then within 30 days pay 90% [-Pph-3,270,461.23] and the remaining 10% [-Pph-363,384.58] on unit turnover from December 2010 Lancaster Atrium Semi Fitted One Bedroom Bi-Level Suites may now be purchased on 12 Year Payment Plans The New Twelve [12] Year Payment Plan provides for One Bedroom [Semi Fitted] Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 50.69sqm [546sqft One Bedroom Suite [Contract Price -Pph-4,308,374.25] then commecning within 30 days, 48 consecutive monthly payments of only -Pph-31,232.94 [No Interest for the first 4 years]. During the first 4 years there is an Annual Lump Sum payable on the anniversary of the reservation date of -Pph-160,626.53 and thereafter 96 consecutive monthly payments of -Pph-42,240.95 to complete the balance of the purchase price. Two Bedroom Loft Type Suites [Option 2 - Semi Fitted Suites] Price: May 25, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster - Atrium Tower A Executive Two Bedroom Loft Type Suites. Floor Area 75.67 square meters [815sqft] at Philippine Pesos -Pph-84,994.56/sqm. -Pph-6,431,538.36 [Including Tax] These units are all 2-Storey "Loft-Type" Suites either facing towards Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo, Samat Street overlooking Mandaluyong, Makati and towards Manila Bay and the Swimming Pool Deck. All units are within Lancaster Suites Manila Atrium. The Special Offer for a Two Bedroom Suite provides that it may be purchased with a Reservation Fee -Pph-25,000.00 and the Balance then Payable without interest over 72 consecutive equal monthly payments of -Pph-88,979.70. Alternatively Save -Pph-384,392.27 by making a Reservation -Pph-25,000.00 then within 30 days a 30% Net Down Payment of -Pph-1,537,569.21 and Balance payable without interest over 72 consecutive equal monthly payments of -Pph-62,285.79. Lancaster Atrium Two Bedroom 'Loft Type" Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay -Pph-25,000.00 Reservation for a 75.67 sqm [815 sqft] Two Bedroom "Loft Type" Suite [Contract Price -Pph-6,431,538.36] then 60 equal consecutive monthly payments of only -Pph-71,539.68 with the balance of -Pph-2,114,157.66 either payable in cash on turnover or to be financed over another 60 months payment plan. Cash Payment option, take 20% discount [Save -Pph-1,286,307.67] Reservation -Pph-25,000.00 then within 30 days pay 90% [-Pph-4,608,207.62] and the remaining 10% [-Pph-512,023.07] on unit turnover from December 2010 Lancaster Atrium Semi Fitted Two Bedroom Bi-Level Suites may now be purchased on 12 Year Payment Plans The New Twelve [12] Year Payment Plan provides for Two Bedroom [Semi Fitted] Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 75.67sqm [815sqft Two Bedroom Suite [Contract Price -Pph-6,431,538.36] then commencing with 30 days, 48 consecutive monthly payments of -Pph-46,714.34 [No Interest for the first 4 years]. During the first 4 years there is an Annual Lump Sum payable on the anniversary of the reservation date of -Pph-240,245.19 and thereafter 96 consecutive monthly payments of -Pph-63,178.76 to complete the balance of the purchase price. Three Bedroom “Loft-Type Corner Suites [Option 2 – Semi Fitted Suites] Price: May 27, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster - Atrium Tower A Executive Three Bedroom Loft Type Suites. Floor Area 106.00 square meters [1140sqft] at Philippine Pesos -Pph-84,994.56/sqm. -Pph-9,009,423.36 [Including Taxes] These units are all "Corner Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay and Swimming Pool Deck. All units are within Lancaster Suites Manila Atrium. The Current Special Offer for the Three Bedroom Suites provides purchases can be made with only -Pph-25,000.00 Reservation Balance Payable without interest over 72 consecutive equal monthly payments -Pph-124,783.66. Alternatively Save -Pph-539,065.43 by making the Reservation -Pph-25,000.00 then within 30 days 30% Net Discounted Down Payment of -Pph-2,156,261.61 and Balance payable without interest over 72 consecutive equal monthly payments -Pph-87,348.56. The Lancaster Atrium Three Bedroom Corner Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay -Pph-25,000.00 Reservation for a 106.00 sqm [1140 sqft Three Bedroom Suite [Contract Price -Pph-9,009,423.36] then 60 consecutive monthly payments of only -Pph-100,326,06 with balance of -Pph-2,964,859.71 either payable in cash on turnover or to be financed over another 60 months payment plan. Cash Payment option, take 20% discount [Save -Pph-1,801,884.67] Reservation -Pph-25,000.00 then within 30 days pay 90% [-Pph-6,464,284.82] and the remaining 10% [-Pph-718,253.87] on unit turnover from December 2010 Lancaster Atrium Semi Fitted Three Bedroom Bi-Level Suites may now be purchased on 12 Year Payment Plans The New Twelve [12] Year Payment Plan provides for Three Bedroom [Semi Fitted] Condotel Suites to be purchased with a Reservation of only -Pph-25,000.00.00 for a 106.00sqm [1160sqft Three Bedroom Suite [Contract Price -Pph-9,009,423.36] then 48 consecutive monthly payments of only -Pph-65,511.42 [No Interest for the first 4 years]. During the first 4 years there is an Annual Lump Sum payable on the anniversary of the reservation date of -Pph-336,915.88 and thereafter 96 consecutive monthly payments of -Pph-88,600.85 to complete the balance of the purchase price. Three Bedroom Bi-Level Penthouse Suites [Option 2 – Semi Fitted Suites] Price: May 25, 2007. Prices Quoted in Philippine Pesos [PHP] Lancaster Atrium Tower A Bi-Level Three Bedroom Penthouse Suites. Floor Area 136.30 square meters [1467 sqft] at Philippine Pesos -Pph-92,834.56/sqm. Contract Price -Pph-12,653,350.53 [Including Taxes] These units are all 2-Storey Loft-Type or Bi-Level Suites" either facing Ortigas Center overlooking Pasig towards Laguna de Bay and Antipolo or overlooking Mandaluyong, Makati towards Manila Bay. Current Special Offer for Penthouse Suites provide purchases with -Pph-25,000.00 Reservation and Balance Payable without interest over 72 consecutive equal monthly payments -Pph-175,393.76. Alternatively Save -Pph-757,701.04 by making Reservation -Pph-25,000.00 then within 30 days 30% Net Down Payment of -Pph-3,030,804.13 and Balance payable without interest over 72 consecutive equal monthly payments -Pph-122,775.63. Lancaster Atrium Penthouse Suites are available on affordable and competitive New Payment Plan that provides for Executive Suites to be purchased on a No Interest No Down Payment basis with 67% of the payment payable over 60 equal consecutive monthly installments without interest and the 33% balance of the contract price payable upon turnover of the unit or to be paid over an additional 5 years from turnover through our hassle free no prequalification "In-House" Finance Plans... Pay -Pph-25,000.00 Reservation for a 136.30 sqm [1467 sqft One Bedroom Suite [Contract Price -Pph-12,653,350.53] then 60 consecutive monthly payments of only -Pph-141,016.58 with balance of -Pph-4,167,355.67 either payable in cash on turnover or to be financed over another 60 months payment plan. Cash Payment option, take 20% discount [Save -Pph-2,530,670.11] Reservation -Pph-25,000.00 then within 30 days pay 90% [-Pph-9,087,912.38] and the remaining 10% [-Pph-1,009,768.04] on unit turnover from December 2010 Lancaster Atrium Semi Fitted Three Bedroom Bi-Level Penthouse Suites may now be purchased on 12 Year Payment Plans The New Twelve [12] Year Payment Plan provides for Three Bedroom [Semi Fitted] Bi-Level Penthouse Suites to be purchased with a Reservation of only -Pph-25,000.00 for a 136.30sqm [1467sqft Penthouse Suite [Contract Price -Pph-12,653,350.53] then 48 consecutive monthly payments of only -Pph-92,081.72 [No Interest for the first 4 years]. During the first 4 years there is an Annual Lump Sum payable on the anniversary of the reservation date of -Pph-473,563.14 and thereafter 96 consecutive monthly payments of -Pph-124,535.83 to complete balance of purchase price. Available Lancaster Mall Shops, Restaurants & Store Units Price May 25, 2007. Prices quoted in Philippine Pesos [PHP] Lancaster Atrium Tower A Shops, Restaurants & Store Units. Example: Floor Area 45.11 sqm [485sqft] at Pph-95,760.00/sqm. -Pph-4,319,733.60 [Including Taxes] These units are all within the Lancaster Shopping Mall located on the Lower & Upper Ground Floors of the Podium. Current Special Offer for the example 45.11sqm Lower Ground Floor Shops, Restaurants and Store units provide purchases with -Pph-50,000.00 Reservation and Balance Payable without interest over 72 consecutive equal monthly payments -Pph-59,301.86. Alternatively Save -Pph-256,183.94 by making the Reservation -Pph-50,000.00 then within 30 days 30% Net Down Payment -Pph-1,024,736.06 and Balance payable without interest over 72 consecutive equal monthly payments -Pph-41,511.30. Pay Cash and take 20% discount [Save -Pph-863,946.72] by making the Reservation -Pph-50,000.00 then within 30 days pay 90% [-Pph-3,065,208.19] and 10% [-Pph-340,578.69] on unit Turnover from December 2010 Please note; these are average floor areas. Actual unit sizes vary from floor to floor. Please note all Unit offers on Cash Basis will be given Priority Reservation Status. Prices quoted are in Philippine Pesos [Effective May 25, 2007] All Lancaster [Semi-Fitted Option 2] Residential Suites Unit Features Include: * Vitrified ceramic tiles in living, dining areas * Ceramic tiles in kitchen and toilet and bath * Toilets with mechanical ventilation * Plastered cement walls and ceilings’ with painted finishes * Provisions for split type air-conditioners For a Copy of the Lancaster Suites Slide Show Presentation... Copy and paste the following URL directly into your Web Browser http://www.lancastersuites.com/lancastersuites-gallery/index.php For further info please do not hesitate to contact us: Beth Collingz PLC International Marketing Networks Pacific Concord Properties Inc., Manila Head Office Shaw Boulevard, Mandaluyong City. Metro Manila. Philippines Phone: Manila [632] 717 1958 Fax: Manila [632] 718 1828 Pacific Concord Properties Inc., Cebu Office Lapu-Lapu City, Mactan. Cebu. Philippines Phone: Cebu [6332] 340 0721 Fax: [6332] 495 4938 EMail: plcsales@pldtdsl.net Web: http://www.lancastersuites.com [Lancaster Condotels] This ad has had 42,697 displays and 1,988 readers