Condo_Hotels_and_Retirement_-_A_Winning_Combination by hashournonos


Condo Hotels and Retirement - A Winning Combination

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Considering retirement in a Tropical Climate? For many British, Australians and Americans, retirement time
is just around the corner.

retirement, investments, financial plans, condotels, investment properties, real estate investment, condo,

Article Body:
Considering retirement in a Tropical Climate? For many British, Australians and Americans, retirement time
is just around the corner. At home, with low interest rates and high cost of living, the prospect of trying to
live on a pension, in old age, is a daunting one unless you are preapred to substantially downscale your
lifestyle. For some, moving to retire in another country is an option which has been successful in the past
with Spain, Portugal, Mexico and Puerto Rico being among some of the more popular destinations. But why
not consider retiring in the Philippines?

Over the past decade, the Philippines has become a retirement haven for thousands of foreigners,
particularly the Japanese, Korean, and Northern Europeans. Along with Thailand and Malaysia, the
Philippines developed communications, infrastructure, and service delivery systems specifically geared to
meet the needs of foreign retirees. Better yet, unlike most European Countries and South America, nearly
everyone speaks ENGLISH in the Philippines.

The Philippines offers a significantly lower cost of living. The Philippine Peso (PhP) exchange rate is
approximately PhP 45 to $ 1.00 or PhP 92 to 1 Pound [Sterling (GBP)]. Housing, food, and labor costs are
quite reasonable. A One bedroom condominium can be purchased for around $ 72,000 or GBP 37,000 or a
Studio for only $ 45,000 or GBP 22,800 and one can dine out on average at a three star restaurant for less
than PhP 500. If you hire domestic help, a private driver's salary is approximately PhP 10,000/month, while
trained housekeepers earn approximately -PhP 5,000/month. These salaries are lower if you live in the

Cable Television, Hi-Speed Internet and Satellite Communications are cheap. One can hire an air-
conditioned taxicab for eight hours for less than $25.00. In a country where a provincial Governor's salary is
only PhP 28,000 per month, and a Presidential Cabinet Under-Secretary earns PhP 35,000, your pension can
go a long way. So, if you have a retirement income of approximately $1,500 to $2,000 per month ( PhP
80,000 to 100,000) you can live quite well in the Philippines.

As for health care, most U.S. Health Management Organizations pay for medical expenses incurred in the
Philippines. Check with your HMO. The Philippine Department of Foreign Affairs presently has a task force
headed by former Secretary Roberto Romulo working to have the U.S. government accredit a number of
first class Philippine hospitals for Medicare reimbursement. The Makati Medical Center, one of the nation's
best already has such accreditation. Unbeknown to many is that for years, citizens of nearby countries such
as Thailand, Nauru, Tonga, Indonesia, and Malaysia have flocked to the Philippines for medical care,
particularly sensitive surgical procedures. The quality of medical care at the better Manila hospitals such as
the Asian, St. Luke's, Medical city, Cardinal Santos, Philippine Heart Center for Asia, National Kidney
Institute, and Makati Medical Center meets international standards.

A Japanese company is building a medical facility in Tagaytay city exclusively for Japanese nationals within
the year. There are now close to 10,000 Japanese retirees in the country, and the number is growing
annually. The British government recently acquired a large tract of land in Fort Bonifacio to build a new
Embassy. The British ambassador explained the larger facility is meant to help serve the growing number of
British nationals retiring there as well. Japanese and Korean investment groups are buying homes and
condominiums in Manila, and tracts of provincial land for retirees. This has caused a mini- Real Estate
boom in the country. A retirement village exclusively for Japanese nationals already exists in Tagaytay, and
more are planned. These are strong indicators of what is on the horizon

English is the Philippines' official business language. Most of the people you will meet, from hotel workers,
taxi drivers, sales or service people, government employeesa all speak English, or have a working
understanding of it. The middle class speak English, without exception. All major newspapers, and major
broadcast companies use English. An English speaking visitor will never get lost in the Philippines. It is the
universal use of that language that has been a strong incentive to foreigners. As well, communications links
within the country and to other countries via the various commercial gateways is up to international
standards. For example, the use of cell phones and text messaging is so common that housemaids, street
vendors and food hawkers can be seen using their celphones incessantly.

One will never want for adventure and sights to experience in the Philippines. There is always a colorful
Fiesta, pageants, street festivals, and open public events going on. Lush with bountiful natural resources, one
can enjoy the numerous beaches, resorts, golf courses, and play just about any sport, except skiing. There is
an ice skating rink in Manila, though. Scuba diving and fishing are among the sports which draw the most
number of foreigners to the rich aquatic offerings.

Shopping is the Filipinos' second most popular activity, the first is eating. Manila is Asia's undiscovered
shopping Mecca. You will love the golden purple sunsets, the fragrance of the flowers at dusk, and the
wonderful array of fruit and food. I used to enjoy watching the Sun set from the bar at the Philippine
Cultural Center. There, you can listen to the Symphony, check out a play, or enjoy Grand Opera. There is
just so much to explore and discover, specially in terms of nature, culture, and history. If you're a betting
man, there's horse racing, the Jai Alai, numerous first class casinos, and of course, cok-fighting. Manila is
well known for its exciting night life.

The Philippines offers affordable real estate and good investment opportunities for those seeking a
retirement haven.

For further info please do not hesitate to contact us:

Beth Collingz

PLC International Marketing Networks

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