What is a Condotel? Is it a Preconstruction Condos for Sale? Is it a hotel?
Well, it is a combination of both. Well, it's a mixture of both. it's also one of the foremost popular kinds of investment property on the planet and is now available within the Philippines.
The Lancaster Suites of Pacific Concord Properties Inc in Metro Manila is a condominium hotel (Condotel) on Shaw Boulevard near the Ortigas Center. Scheduled to open this year, prices in Lancaster have appreciated very quickly, almost 100% in the last 3 years.
You buy a condo as a vacation home on hotel property and the hotel rents the new condos for sale when you are not there. Many condos have superior amenities like spas, health and fitness centers, restaurants, and business centers. Lancaster Suites are also configured to provide a broader range of hotel services, such as valet, concierge, and housekeeping.
Preconstruction Condos for Sale unit owners can receive income from participating in the rental program, helping them offset their property expenses and the surplus that results in an annual return on their investments. The rental program operator, in exchange for a 40% revenue share, markets the units as a hotel, takes reservations, operates the front desk, staff, and maintenance of the entire property, and provides the services that guests The hotel's waiting as housekeeping, food and drink, and concierge.
Almost all developers begin selling their Preconstruction Condos for Sale-hotel units 18-24 months before construction is complete. One such development within the Philippines is Lancaster - The Atrium, which now offers its Condotel suites that are available for purchase.
By reserving a Preconstruction Condos for Sale-hotel unit at this stage, you will be able to pay today's prices for tomorrow's real estate. Of course, that also means that you will have to attend a touch before using your home within the condo, but an appreciation of the land can produce a really healthy return.
Lancaster Atrium suites are now available in the new highly affordable and competitive payment plan that allows suites to be purchased interest-free, no-deposit, with 67% of payment payable in 60 equal consecutive monthly installments without interest and 33% Balance payable on unit rotation or to purchase 5 more years from rotation through our "in-house" financial plans without prequalification and hassle-free
All payments are going to be made to the Lancaster Suites Manila Atrium Tower Manila Escrow Savings savings account trust.-80% upon completion and 100% unit billing as of December 2009/2010.
If anyone is interested in joining us or hosting one of Lancaster Philippines' Preconstruction Condos for Sale -hotel investment forums, feel free to contact us.