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Condo_Hotels_and_Retirement_-_A_Winning_Combination

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					Condo Hotels and Retirement - A Winning Combination

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942

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


Keywords:
retirement, investments, financial plans, condotels, investment
properties, real estate investment, condo, hotel


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 provinces.

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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posted:2/28/2010
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