Financials – Lancaster Atrium, Manila, Philippines
Pricing
Prices are for a fully furnished property and are inclusive of VAT
Studios range 28m2 to 32m2 and cost from 3,221,875.36 PHP circa $80k USD1 beds range from 44m2 to 62m2 and cost from 5,465,741.21 PHP circa $125k USD
2 beds range from 77m2 to 98m2 and cost from 9,821,436.62 PHP circa $225k USD
3 beds range from 135m2 to 160m2 – SOLD OUT!
Payment Schedule
$2000 usd reservation fee as a holding deposit *
30% on signing, less the $2k deposit (after 30 days due diligence) $23,254 usd
70% a) balance in 36 equal monthly payments of $1636 (with a 6% net rental guarantee for 5 years)
b) balance in 72 equal monthly payments of $818 usd (without the rental guarantee)
* refundable for 30 days if there is a legal encumbrance that prevents sale
** 6% net rental guarantee for 5 years - uncapped
The titling and turnover payment will be due Q1 2013
Rental income will commence Q3/Q4 2013 so this can offset the monthly payments
Finance
This in-house finance offer is non status and open to foreign buyers as well and Filipino nationals, the first monthly payment starts 30 days after the contracts are signed
Rental Return
Owners have the option to lease their apartments back to the management company and join the rental pool. Rental income starts after the unit is fully fitted out, furnished and turned over to the Condotel Management for enrolment. The projected income for the unit is approximately 8% per annum and expected to rise in the coming years. For those taking the rental guarantee, the guarantee is uncapped at 6.3%
Case study
For a property of 32.5m2 priced at 3,703,960.00 PHP - (44php/ $1usd) so a total contract price $84,181 usdThe payment schedule would be as follows (calculated in $usd as guide reference)
$2000 usd reservation fee as a holding deposit *
30% on signing, less the $2k deposit (after 30 days due diligence) $23,254 usd
70% a) balance in 36 equal monthly payments of $1636 and then a 6% net rental guarantee for 5 years
b) balance in 72 equal monthly payments $818 usd without the rental guarantee
Q1 2013 - The titling and turnover payment will be due: $2600 usd
Maintenance costs
The maintenance cost is variable depending upon size of your apartment and is payable monthly. The followingare based on estimated costs and are subject to final assessment:
Association Dues is estimated at about Php 60.00/sqm payable monthly
Real Estate Taxes are estimated at circa Php 350.00/sqm payable yearly 
Other costs
Titling and turnover
Based on Studio Unit: (One Time Payment Only)
Titling expenses estimate Php 82,000.00
Turnover expenses estimate Php 39,000.00
Total Php 121,000.00 circa $2,600 usd
Tenure
Apartments in The Lancaster Atrium can be purchased on a Freehold basis.
This investment opportunity is second to none - the Filipino economy is delivering sustained yet aggressive growth and this is your chance to own real estate in the capital. The Lancaster Atrium’s location is a diamond site, in the heart of the central business district and the development company is a blue chip organisation. The units are keenly priced offering the chance for substantial capital growth, whereas the interest free credit allows buyers to spread their payments thus reducing the amount of cash required to make the purchase. The units can come fully furnished, fully managed and ready to rent.
Take advantage of this hands free, high returning investment opportunity by contacting us today… / +852 (0) 6807 9560 / +44 (0) 7894 469 974
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