Three Years Of Guaranteed Yields… And That’s Just The Beginning
“What we are offering now, Kathleen,” writes Correspondent and Asian property developer Jeff Finney, “is a 35% discount off the price of a fully furnished unit. That is to say, you can buy now for US$64,000.
“When you consider what you’re buying, that’s a ridiculously low price. And, of course, the real point is that the unit comes with a guaranteed yield from rental income of 7.8% per year for three years.
“That is for a cash sale. For 50% down, the discount is 25%, making the purchase price US$74,025. Down payment is US$37,012.50.
“Local financing is available. Philippine banks, including China Bank, Allied Bank, and PS Bank, will write 10- to 15-year mortgages for foreign buyers.
“Yields are the name of the game right now. In the current climate, you want to put your money someplace where you know it’s going to return some income for you.
“In this case, you’re doing that…you’re guaranteeing yourself an income of 7.8% per year for three years. In addition, though, here, you’re buying a hard asset with long-term potential for both rental yield and personal use.
“This Eden hotel-condo project on the island of Boracay in the Philippines is on both a beach and a golf course. In fact, this 127-hectare golf course development is the only one on this island.
“The condotel project overlooks the 8th hole of the course, and ownership includes full playing rights (for the 18-hole course), access to the private beach cove, plus access to all property amenities–the pool, the restaurants, the spa, even the property sailboat.
“Each unit comes fully furnished, complete with wireless Internet and cable TV. Because it’s a condo-hotel property, owners (and residents) also have access to room service, laundry, and an on-site concierge.
“This is as turn-key as it gets, with full furnishing package and rental and property management.
“Turn-key, low price of entry, financing available, easy access (Boracay is a half-hour flight from Manila, and there are 45 flights back and forth a day), and three years of good guaranteed yields from rental.
“Thinking bigger picture, the Philippines offer one of the most affordable retirement and beach-holiday options in the world right now. Specifically, the little island of Boracay is becoming the ‘in’ spot for Asian sun-seekers.
“Americans aren’t the only ones who like the beach. Asians, too, head to the sand and the sun when it’s time for vacation, and, increasingly, the sun and sand they seek is on Boracay.
“Investors worldwide are feeling battered and bruised, but you still need someplace to put your money. The smart money right now is moving to fixed-income property paying out at least 5% per annum over three to five years.
“In other words, into deals like the one on the table right now at Eden.
“Condotels like this one are maintaining strong income flows. And no other Asian country has developed the condotel idea as successfully.
“The Philippine peso has dropped back from 42 to US$1 to 48 to US$1 as of this writing. An attractive discount on the currency. In addition, the overall health of the economy, compared with almost all other countries in the region, is bloody good.”
A limited number of units is being offered with this current discount and yield guarantee.
Frankly, these kinds of low-cost-to-entry, yield-guaranteed deals in active tourism markets make more sense than ever…and aren’t easy to come by.