Luxury and grandeur

That is what living in condominiums is all about. Given the expensive cost of owning a condominium unit, you might as well say that it is ideal for individuals who have a lavish lifestyle and earns a good salary.

A condominium is a complex structure composed of individual units, which are often referred to as ‘condo units’. Unlike apartment-type complexes wherein individual units are for rent, condominiums are leased for sale. These units may be renovated apartments and townhouses or even warehouses previously used for commercial purposes.

Individuals or families who have purchased units in a condominium own everything from the walls of their units inwards. Individual condominium unit owners share rights to common areas inside the premises like elevators, swimming pools, hallways, and clubhouses. The maintenance of these common areas becomes the obligation of the condominium association, which is composed of individual owners. Every owner have their share of interest in the association, adhering them to make monthly due payments or so-called ‘special assessment fees’ for huge maintenance problems.

Condominiums provide an alternative lifestyle for many individuals especially those who want to be independent and have their own place that they can call home. Contrary to popular belief, there are condominiums that are affordable. They cost less than paying for conventional home purchases. It is quite cheaper compared to building your own home from ground up. This kind of living quarters is ideal for young professionals as well as small families. In addition, it provides essential amenities such as round-the-clock security and low maintenance (since you own a small portion of the whole condominium).

However, there are certain disadvantages of living in a condominium. There is a lack of privacy in common areas where every homeowner has their respective shares of interest. Condominium arrangements are not the best options for individuals who prefer owning all the amenities and want to maintain their own lawn and garden. In this case, they must pursue single home ownership. Moreover, it is also difficult to sell a condominium unit compared to a conventional home. Remember that you only own the unit and not the ground beneath it.

Despite of the aforementioned disadvantages, there are still individuals who prefer living on condominiums. They do not mind having close neighbors at all and they do not want to be bothered by the responsibility of the lawn or other external maintenance matters. And since the total price of purchasing a condominium unit is relatively lower than an equivalent single-unit home, there are many individuals who are tempted to take this cost-efficient advantage.

Apart from the overall price and amenities available when you decide to live in a condominium, you must be aware of the reality that your stint in your unit may be affected by the condominium association’s decisions. Such decisions may be made in regular meetings that can cost an individual unit owner more money, and is virtually impossible to avoid being affected by at least a single decision. It is encouraged that you actively participate in the association’s meetings and forums. Living in a condominium is financially advantageous than apartment rentals, yet it will require your active participation in community-related events.

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The condominium market has ido rising steadily in recent years. According to the National Association of REALTORS (R), condominium values increased by more than 27 percent between 2000 and 2002, and the median value of condos ($ 163500) sat just below that of single-family homes ($ 168400) in mid – 2003. While this trend is not guaranteed to continue, the condominium market has regained momentum and the importance it had in the initial boom of condominiums the 1980′s.

Condo buyers are divided into three main groups: for the first time buyers to quit rent; people looking to buy a second home that will use part-time and retirees who are trading in high-end housing for low-maintenance a lifestyle offers condominiums.

A condominium can be a great purchase under the right set of circumstances, but some people still dismiss as glorified apartments. If you do not feel comfortable living in condominium rules and restrictions, and in close proximity to others, then a condominium is probably not the place for you. Before buying a condominium, be sure to understand exactly what is involved in condominium living.

What exactly is a condominium?

A condominium development can take the form of style apartment complexes, townhouses or become multi-family dwellings. What distinguishes it from other multi-tenant buildings is that the developer has legally declared that a condominium, and individuals can purchase units in the building or complex. In most states, this means that development is specially designated under the laws and regulations applied to condominiums.

When buying a condominium, the owner acquires title to his unit, until the walls, but not between them. A description of a condominium is a “box in the air.”

The common areas of development, such as stairways, dividing and exterior walls, gyms and rooftop gardens, are shared ownership. Each unit owner has any interest in these spaces. In order to manage the maintenance and repair of common areas shared, each condominium development has a condominium association, also known as a unit owners association. The association is elected by the owners of condominiums and makes decisions in the communal interest of the community.

Condo costs include:

* Arras, mortgage and property tax
* Condo fees, also known as maintenance fees. Condo fees are paid by all residents to help with building maintenance, salaries of groundskeepers, janitors or tasks, and provide facilities such as luxury swimming pool, gym or rooftop garden. Condo fees are paid monthly and are subject to change
* Special assessment rates. These rates can be requested when an unexpected repair or planned modification exceeds the cost of fees collected condominium

Rules to live by

Condominiums are governed by a set of rules called covenants, conditions and restrictions (CC & Rs). The rules vary from one to another condominium development. They can impose restrictions on ownership of pets, noise levels, remodeling projects, and rent. The CC & R are implemented by the condominium association. It’s a good idea to read the CC & R to make sure you’re comfortable with them before buying a condominium.

Condo associations and fees

The condominium association budgets and determines the fees for all condominium units. Condo fees are often determined by the size of your drive, how many units are currently occupied, and projected costs for building maintenance and repair.

Condo associations vary in their organization and experience. Some questions you may want to see are as follows:

* Whether the association to maintain a reserve fund to pay for the unexpected and potentially costly repairs? This will help determine whether it is likely to beat with a special assessment rates.
* Has the association maintains the building in good condition? Can Handle repairs and maintenance before they become major problems? Before you buy, is a good idea to get an inspection in the unit you fancy, as well as the entire structure in order to identify potential problems.
* Whether the association intends to add facilities, such as a swimming pool or gym, in the near future? This could cause a sudden increase in their fees. Ask to see the minutes of recent meetings of condominium associations, which should disclose any such plans.
* The development is pending lawsuits? Are there any conflicts between landowners, developers or the association you should know about?
* What is the reputation of the association in the building? Talk to other owners for comments or complaints about the activities of the association.

A word about developers

The developers do not usually maintain a long-term interest in a building, but the work they put into it is important. A home inspection can turn up major structural faults in the building, but not based on this alone. You should investigate the developer’s history, and find out if there had been any problem with its evolution. Also find out if the developer is still in business and whether it is financially stable. If the developer is no longer in business, its condominium association may have little or no legal recourse in the event of serious flaws are discovered on the property.

The planning of some projects home improvement? Finance with a home loan or credit line.

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By capitalizing your Angeles city investment, you allow your condo hotel unit to be leased to the hotels guest when it is not in use. The hotel and condo management would maintain the units and other property’s common areas, amenities and provide first class hospitality services. This allows condo hotel owners to receive higher return on their investment in just a period of time without worrying on how to manage their units on their own. Owning your own unit in this type of complex allows you to avail of the hotels luxurious amenities and services of the respective property.
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Here are a few things that you should know in planning to purchase an Angeles City condo hotel:

What type of services and amenities does a condo hotel offers to its residences?

An Angeles city condo hotel provides similar necessities of an upscale condo hotel. Most of the time it features fine dining restaurants, roof top pool, concierge services, room service and spa.

What is the difference of purchasing a unit in a condo hotel complex than of a typical condominium?

A condo hotel complex may be individual or a corporate ownership however; the complex is sold off by unit per unit. Therefore; if a condo hotel complex has 400 units or more it could have 300 unit owners etc.

Can you live in a condo hotel?

Condo hotel are typically offered as non-primary residences. Though there are Angeles City condo hotel complexes that provide terms to condo owners to reside in their perspective units.

To who does the money goes when the hotel is rented out?

Usually, the hotel’s management would split its revenues to the condo hotel owner. The exact percentage may vary from property to property in some condo hotel units.

Which should you prefer an Angeles city condo hotel that have been built or a pre-constructed complex?

Unless you are in a hurry to get started on your vacation it is advisable to purchase a pre-constructed condo hotel complex. This is so that you could still purchase the unit/s that you like and the prices are low. Upon deciding to purchase a pre-constructed condo hotel unit, you will have to wait for a year or two before taking possession of your owned condo hotel unit.

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THINGS YOU NEED TO KNOW BEFORE BUYING A CONDOMINIUM

Buying a condominium is somewhat like buying stock in a new company; you shouldn’t invest your lifesavings in either unless you are satisfied that it is a sound investment and that means asking questions.

1. ARE YOU READY FOR THE CONDOMINIUM LIFESTYLE?

Moving into a condominium involves trading some of the privileges you might enjoy by owning a ordinary home, such as choosing the colour of paint for your front door, for the benefits of condominium living, (somebody else has to paint  the door!). While some people may be concerned about the restrictions that sometimes apply to the condominium lifestyle there are many advantages, including:

• relief from  maintenance and repairs;
• enjoyment of recreational facilities;
• security;
• a sense of community that, all too often, is not present in normal subdivision developments;
• the comfort in knowing that the condominium has certain rules that will ensure your enjoyment of your unit and the common elements, which are not available in normal subdivisions; and
• the ability to exercise some control over your living environment by utilizing your voting privileges.

2. GET GOOD HELP

Start by talking to a realtor who is experienced in condominiums and explain what it is you are looking for, (e.g. a downtown loft close to the subway or a town house near a school). Retain a real estate lawyer who is also familiar with condominiums before you make an offer.  You will only have a matter of days to firm up a conditional offer and you can waste precious time searching for one who can help you

3. KNOW WHAT KIND OF CONDOMINIUM ARE YOU BUYING

Up until the time the current Condominium Act came into force, all condominiums were treated the same, regardless of whether they were a high rise tower or a townhouse or bungalow unit. The new Act now recognizes five (5) different types of condominiums which are briefly described as follows:

1.       Common Elements Condominium: this is a condominium where there are no “units”. Instead an interest in the common elements is attached to an adjoining, piece of land referred to as a “Parcel of Tied Land” or “POTL”. The POTL is usually a freehold detached home.

2.       Vacant Land Condominium: a vacant land condominium is a condominium in which there are both common elements and “units” however, the units are actually created as a piece of vacant land, similar to buying a vacant lot in a subdivision, upon which the owner will have a house constructed. The “unit” would then include all of the land in its boundaries as well as any dwelling units or other structures constructed on it.

3.       Leasehold Condominium: this is a condominium in which the ownership of the land upon which the condominium buildings are constructed will remain with a developer or be owned by investors. The owner then leases the land and buildings to the condominium corporation for a minimum initial term of forty (40) years. Purchasers will then acquire a leasehold interest in their unit. The corporation will pay rent to the owner from the common expenses.

4.       Phased Condominium: a phased condominium is a condominium corporation that is built in stages. When stage one is complete, a condominium corporation is then registered to include the units that have been constructed. The developer can then build the next stage. Once it is completed, it is then merged into the original corporation and so on until all of the condominium units are completed.

5.       Standard Condominium: essentially, a standard condominium refers to all condominiums other than the ones noted above.

These are the legal terms used to describe the type of condominium that you might be purchasing. However, there are many different “styles” of condominiums such as, high-rise, low-rise, loft, townhouse, bungalow, detached home, work/live (i.e. commercial unit on ground floor with residential living space above), recreational (e.g.. cottages), commercial and industrial, as well as combinations thereof.

4. GET A STATUS CERTIFICATE – EXISTING CONDOMINIUMS

You can find out a great deal of information about a condominium by purchasing a “Status Certificate” from it. You should buy one before you firm up your offer. The simplest way to do this is to have your agent make the offer conditional for 10 days to allow you to obtain the certificate, review it with your lawyer and be satisfied with its contents and attachments.

These certificates contain, among other things:

• confirmation of the amount of the reserve fund;
• whether the unit you are buying is up-to-date for common expense payments;
• whether there are any large increases in monthly common expenses being considered;
• whether there are any special assessments being considered;
• whether the corporation is a party to any legal actions;
• a copy of the current budget;
• the most recent audited financial statements; and
• copies of the condominium’s Declaration, By-laws and Rules

(Tip: Read the rules carefully: if you don’t think you can abide by them look somewhere else but also keep in mind that all condos have rules.)

5. THE AGREEMENT OF PURCHASE AND SALE – OLDER CONDOMINUMS

Local real estate associations have developed standardized forms specifically designed to be used when purchasing a condominium. Make sure the offer you are making is the one used locally for condominiums. Ensure your offer contains a condition allowing you time to get a status certificate and get it to him/her promptly so they have time to review it and discuss it with you. Watch out for standard clauses that are crossed off when the offer is returned and discuss them with your lawyer.  If you are borrowing money from a bank for your purchase make sure you know how much you will be able to borrow and are pre-qualified for the loan before you make an offer.

6. DISCLOSURE STATEMENT- NEW CONDOMINIUMS

A Disclosure Statement is a package of information about a new condominium that is to be built or is under construction. It contains much of the same information as the Status Certificate. When buying a new condominium unit from a developer, a purchaser is guaranteed a 10-day “rescission” period, within which they can review the disclosure package, preferably with your lawyer. If you don’t like what you see, you can rescind your offer to purchase and receive your deposits back if you do it within the ten day rescission period.

7. THE AGREEMENT OF PURCHASE AND SALE – NEW CONDOMIUMS

In a seller’s market, it is often difficult to negotiate any changes to the sales agreement being offered by the developer, however, there is no harm in asking. As an example, most agreements contain provisions setting out what additional costs may be charged back to the buyer at the time of final closing. These are called “adjustments”. It may be possible to negotiate some of these charges. These provisions must be read carefully as they can easily add several thousand dollars on to the purchase price. Make sure you have your lawyer review the Agreement; he or she may have additional recommendations.

You will also be asked to make additional deposits, so make sure that you have funds available to meet all deposit requirements before you firm up your offer.

In a new condominium, it is not unusual for you to be asked to take occupancy of the unit months before the developer is in a position to transfer the ownership of the unit to you. During this “occupancy period” you must pay an occupancy fee, (similar to rent), to the developer. When budgeting for your purchase, you should ensure that you have at least three – six months’ worth of occupancy fees available.

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They often include five-star amenities, making them the ultimate vacation getaway. As real estate, they offer appreciation potential. Combine all these qualities with the ability to generate rental income, and you’ve got yourself one good deal.

Is a condo hotel right for you? Consider these 10 factors to decide:

1. Escape to your second home any time. With timeshares or partial ownership, you can use your condo one, maybe two, weeks of the year. Condo hotels, on the other hand, allow you to use your vacation home any time, given the proper notice.

2. Visit your favorite vacation destination over and over again. Condo hotels tend to be built in fantastic locations. They may be overlooking the ocean in Miami Beach, near theme parks in Orlando, on a golf course in California, slope-side in Telluride, or right on the exciting Las Vegas Strip.

3. Live in the lap of luxury. Enjoy premier living right in your own second home! Your condo hotel unit will be delivered designer furnished. But it’s the resort’s amenities that really make it special: the brand-name spa, resort-style pool, gourmet restaurants and state-of-the-art fitness center, all right on-site. Plus, don’t forget the hospitality extras, from daily housekeeping and room service to 24-hour concierge assistance.

4. Relax with hassle-free ownership. Don’t have the time or desire to handle the upkeep of your property? Condo hotels offer a built-in property management team that takes care of everything, from maintenance and housekeeping to operation of all the amenities.

5. Have pride of ownership. With a condo hotel you can possess your very own Trump, Hyatt, Hilton or Ritz-Carlton. How cool is that!

6. Receive rent revenue. When you’re not using your condo hotel unit, simply place it in the hotel’s rental program. The hotel management team takes care of finding the guests, and you’ll get a share (usually around 50%) of any revenue your unit generates. This income can help offset your costs of ownership.

7. Resell your condo unit at any time. With timeshares reselling is difficult to do since you only own a particular week of the year. With a condo hotel unit, you have deeded whole ownership and can resell your property just as you would any other type of real estate.

8. Get in early on the condo hotel craze. Condo hotels are a fairly new type of real estate. As the market increases in popularity, demand for these units will grow. Now is the time to get in at the ground-level phase.

9. Gain appreciation potential. Condo hotels, like most quality real estate in highly desirable destinations, are likely to appreciate. Maximize the appreciation potential by buying your condo hotel unit in the pre-construction phase, when prices are at introductory levels.

10. Diversify your investment portfolio. If you’re looking for an alternative to the stock market, condo hotels offer a means to invest in real estate without assuming the responsibilities of becoming a landlord.

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Then consider a condo hotel. You might find that this new type of real estate is the ultimate, hassle-free vacation home.

1. Exactly what are condo hotels?

Condo hotels are typically high-rise, luxury properties in popular vacation destinations, such as near beaches, golf courses, casinos and theme parks. They are operated by prestigious hospitality companies like Hilton, Starwood, Trump International, Four Seasons, Hyatt, Ritz-Carlton and Sonesta.

While to guests they may look like a regular hotel, the suites are individually owned as condos. The owners can use them when they want and place them in the hotel’s rental program when they’re not there, sharing in the revenue their condo generates.

An on-site management company takes care of everything from renting out the unit to operating and maintaining the property. For that reason, condo hotels are often referred to as problem-free vacation homes.

2. What are the typical amenities found at condo hotels?

Of course, every condo hotel is different, but these properties usually offer the amenities and guest services you’d find at a hotel of four-star caliber or better.

These can include pools, spas, fitness facilities, business centers, restaurants, night clubs, retail stores, meeting facilities, concierge services, 24-hour security, room service, valet parking and daily housekeeping.

The individual condo hotel suites are usually slightly larger than your typical hotel room, professionally furnished, and have kitchens or small kitchenettes.

3. Where are condo hotels found?

The condo hotel concept started in Florida, but these days condo hotels are popping up all around the U.S. and the world. They are found in popular vacation destinations such as Miami Beach, Orlando, Las Vegas, Myrtle Beach and throughout the Caribbean.

Each location has something unique to offer. Decide what you love to do when on vacation, and find a condo hotel to fit your needs.

4. How does a condo hotel differ from a timeshare?

With a timeshare you are purchasing one or two weeks of usage of your vacation home per year, and it’s usually the same weeks each year. That doesn’t allow you a lot of flexibility with your vacation schedule, unless you participate in an exchange program.

A condo hotel unit provides you, the owner, deeded whole ownership. You can use your vacation home as often and whenever you want, (although some restrictions may apply if you choose to participate in the optional rental program).

5. What expenses should be expected when owning a condo hotel?

The individual condo hotel unit owner typically pays for real estate taxes, insurance, capital improvements and his or her debt service.

The on-site management company pays operating expenses such as housekeeping, front office, maintenance of common areas and amenities, marketing and guest services.

6. Who operates the rental program in a condo hotel?

The on-site management company runs the rental program. Their job is to promote the property and generate a steady flow of guests to rent the units.

One of the key benefits to purchasing a condo hotel unit in a major franchise like Hilton, Trump International, Hyatt or Starwood is that its name recognition and multi-million dollar, worldwide reservation system help to keep your room rented and generating revenue year-round.

7. How much revenue does a condo hotel unit generate?

This, of course, varies between properties. Some of the factors that affect revenue are the quality of the property, whether it has a brand name, its location, and even how often the unit is used by the owner as opposed to being placed in the rental program.

Buyers of condo hotel units are advised to be conservative in their expectations and look upon the revenue their unit generates as helping to offset their costs of ownership, as opposed to creating a positive cash flow.

Total revenue is split between the hotel management company and the individual unit owner, usually on a 50-50 basis after expenses, although these percentages can vary.

8. Do condo hotels appreciate like other types of real estate?

They certainly can, and many people feel this is the key selling point of condo hotels. They see condo hotels as investments which, like other types of real estate, can increase in value over time, especially if the property has a good location, is well-managed and offers a full array of amenities and services.

9. How much do condo hotels cost?

Condo hotel prices vary, depending on quality, brand, amenities and location. The range can be anywhere from $200,000 to over $1 million for prime properties.

The highest prices are commanded at upscale locations such as Miami Beach and Las Vegas. In places outside the U.S., like Dubai, Mexico and Panama, for example, quality condo hotel units can often be had for bargain prices because of the much cheaper land and construction costs abroad.

10. Is financing available for condo hotels?

Yes, many lenders now offer financing on condo hotel units. However, the rate is usually slightly higher for this type of residence, because lenders assume more risk on a second home than a primary residence.

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Currently in the pre-construction phase, the Blue Rose will consist of three towers housing 256 condominiums and 1,284 condo hotel suites. It will offer everything from lofts and one- and two-bedroom units to 3,000 sq. ft. penthouse suites. The property will be a resort oasis, with a promenade, European cafes, five themed restaurants, private pool cabanas, and a 1,000-seat theater.

The investment opportunity presented by condo hotels is unprecedented. Indeed, most new properties sell out in the pre-construction phase. In doing so, investors are able to obtain lower prices, secure many of the best units, and gain appreciation on their investments before ground is even broken.
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Many people opt to purchase a condo hotel not only as an investment, but also as a vacation home. Generally, condo hotels provide first class accommodations in highly desirable locations. When the owner is not using the property, the condo hotel unit can be rented out to tourists. Typically, the owner doesn’t have to take responsibility for renting, managing, and maintaining the unit, making the process free of the headaches and hassles of owning other rental properties.

Like any real estate investment, the key is location, location, location. For example, the Blue Rose Condo Hotel is located in Orlando, Florida, one of the hottest housing markets in both the United States and the world. Recently, analysts have reported that Orlando property is undervalued by as much as 30 percent when compared to other major U.S. markets. That, together with an average hotel occupancy rate of almost 80 percent and 40 to 55 million annual visitors, makes Orlando condo hotels prime investment opportunities.

It’s easy to understand why Orlando is such a desirable destination. After all, Florida boasts 300 days of sunshine a year, over 1,000 miles of coastline, and an average temperature of 70 degrees. And Orlando is the center of family-friendly theme park destinations. Walt Disney World was first on the block, with 28,000 acres of family fun. Universal Studios and Sea World round out the top three, again with thrills for the whole family. It’s estimated that it would take you over two months of eight-hour days to experience Orlando’s 95 attractions. It’s clear why tens of millions of tourists visit Orlando each year.

It’s equally obvious why investors are flocking to buy property in Orlando. Condo hotels, like the Blue Rose condo hotel, are the latest real estate investment trend in hot destinations like Orlando. Between the theme parks, the world-class restaurants, the golf courses, and the opportunities to engage in water sports, Orlando investors are seeing phenomenal returns on their investments.

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1. You can own a piece of a world-class property.  Most condo hotels are of three- to five-star quality.

2. You’ll have a vacation home in a fantastic destination.  Most condo hotels are located in premium locales – on the beach, near golf courses, next to ski slopes and in bustling downtowns.  Miami Beach, Fort Lauderdale, Orlando, Myrtle Beach, Las Vegas, Chicago and the Bahamas are some of the most popular condo hotel locations.

3. Use your vacation home when you want.  Flexibility in use means you always have a place to “get away from it all.”  When you’re not using your vacation home, place it in the rental program.

4. A professional management company will take care of all maintenance and operational issues.  Most condo hotels are managed by premier hospitality firms, often the biggest names in the business, Ritz-Carlton, Trump International, Hilton, Starwood and Hyatt, to name a few.

5. You receive approximately half of the rent revenue your condo hotel unit generates when you’re not using it.  The management company takes care of renting your condo for you.  The revenue helps offset your costs of ownership.  Plus, most management companies have sophisticated reservation systems and invest in professional marketing, enabling them to keep your unit rented far more than you likely could on your own.

6. The management company deals with the guests.  Part of the hassle-free nature of condo hotel ownership is that the management company handles everything regarding guests, from attracting them to checking them in and out of the hotel and solving any problems that arise during their stay.

7. You’ll have access to luxury hotel services.  Unlike a single-family home, in a condo hotel vacation home, you can take advantage of all the perks of the hotel such as a brand-name spa like Canyon Ranch or Elizabeth Arden Red Door, concierge, room service, fitness facilities, pool, fine dining restaurant and more.

8. Share your condo hotel unit with family and friends.  The unit is yours, so you decide how it’s used.  Want to lend it to your Aunt Betty and Uncle Lou?  No problem.

9. Purchase your condo hotel unit with traditional financing or even as part of a 1031 exchange.  A variety of loans are available to invest in condo hotels.  Condo hotels also qualify for tax-deferring strategies like 1031 exchanges.

10. Realize appreciation when you resell your condo hotel.  Like traditional real estate, over time your condo hotel unit has potential to appreciate.  Because of its quality location, professional hotel management and on-site luxury amenities, the value of your vacation home should increase.  You keep the profits when you sell.

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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.

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