Resort Condominiums Lifestyle and Investments
Summer brings back memories of my childhood vacations
During the late 60's and early 70's my family used to stay at the Casa Blanca near gates of Camp John Hay that was then a rest and recreation facility of the US Armed Forced in Baguio.
After a week's stay, we would drive down to Cresta Ola in La Union for two or three days and enjoy the white beaches. We were fortunate because the owner of the properties was a friend of my father, During those times, only a privilege few could afford such properties. The condominium concept was not available in the local market then.
the first Resort Condominium in the Philippines was Marbella (Caylabne) in Ternate, Cavite where the rich enjoyed the priviledge of owning a unit. When the United States turned over Camp John Hay, Subic Naval Base and Clark Air Base to the Philippine Government, private developers started putting up resort condominiums so these former US US recreational facilities and offered this lifestyle as an investment to the public. Log cabins and hotel suites were built to Camp John Hay while vacation homes and condotels were developed in Subic and Clark. Aside from the three former Us facilities, Developers started to generate pocket subdivisions and condominiums in Tagaytay as an alternative to Baguio and it's cool weather.
Not to be left behind, Cebu and Mactan started developing its prime beaches as foreign and local investments poured in with direct flights from Japan and other destinations. Boracay, then a backpackers' destination, started as a timeshare destination. Now, the island is a major tourist destination and boasts several investment opportunities from golf villas, resort condo to timesharing. There are also condominium rising on locations as far as Ilocos, Bicol, Bohol, Palawan, and even Bolinao, Pangasinan.
Investing in resort condominium hotels provide investors not just a good return on investment but also different in lifestyle. There is a saying, You cannot have your cake and eat it, too, but in leisure condo investment, you can . Developers and hotel operators will ensure that your investment make money, and you will receive your dividends regularly. You will also enjoy the lifestyle of worry-free management of your family's enjoyment yearly. This privilege can also be extended to your friends and relatives. Resort condo investment offers 8% to 20% return on investment depending on the destination and resort operator. Benefits vary on the length of free stay and other privileges, too
About 10 million overseas Filipinos worldwide serve as modern-day heroes of our economy. If they invest in their homeland Philippines, the Best investment option would be in real estate. Our country needs more local investors to boost our tourism industry. The road for the Philippines to be major tourist destination is through real estate tourism.
by Renne Isidro
The Condo GURU; REW 3rd Qtr