Condotels in the Philippines
By Lauren on Aug 4, 2008 in For Sale, Real Estate Features
Condo-hotels or condotels are high-rise buildings that are developed and operate as a luxury hotel, but they also have condominium units that serve as fully-functional vacation homes. Condotel units are a great investment. As a unit owner, you can can live in the unit for about thirty days per year; during this time, you have access to world-class amenities like room service, a gym, and a spa. For the rest of the year, you can choose to rent out the unit together with the hotel and receive a percentage from it. Alternately, you can also live in the unit permanently and enjoy five-star hotel living day in, day out.
Condotels operate just like serviced apartments and are great for investors who want to test the waters in hotel investment in the Philippines. Buyers own their condotel units just as though they were regular condos - there is no time limit to ownership, and all units come with freehold title deeds.
The best cities to invest in a condotel are Metro Manila and Cebu. The hotel-condo investment trend in the Philippines is already accelerating in these major metropolitan hubs. Given the country’s expertise in the service and hotel management industries, there’s no doubt that condotels are a profitable operation that ensures maximum return on investment.
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