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1. President's Message
2. Condo of the Month
3. New Condo Towers
4. Article 1 - New Investor Visa great reason to buy a condo
5. Article 2 - Build-To-Own a better way to buy
6. News
7. Contacts
________________________________________________________________________________
PRESIDENT'S MESSAGE
Welcome to
our Quarter 4, 2004 Newsletter.
We have recently expanded
our listings into Cebu and Baguio; key tourist areas within the
Philippines.
Manhattan Suites in Baguio, and
Lancaster Cebu are examples of our reach into these fantastic cities.
So check them out. You won't be disappointed!
 |
"There's
a million reasons to buy a condo in the Philippines!"
Sante Delle-Vergini
President & CEO
CondoMillion.com |
________________________________________________________________________________
CONDO OF THE MONTH
Ortigas
-
2.1M, 32m2 studio
Furnished studio unit, with bonus car space on title, and over looking
Shangri-La mall. All for only 2.1M cash!
CLICK HERE for more details.
________________________________________________________________________________
NEW CONDO TOWERS
This section links to tower developments listed recently on our
website:
Malate Crown Plaza - Malate, Metro Manila
http://www.condomillion.com/listings/philippines/Towers/malate-crown-plaza/malate-crown-plaza.htm
The Biltmore @ Greenbelt
http://www.condomillion.com/listings/philippines/Towers/biltmore/biltmore.htm
________________________________________________________________________________
ARTICLES
Article 1 -
New Investor Visa great
reason to buy a condo
If you want to spend a lot more time in the Philippines, and tired of the
usual Visa requirements time after time, the
Special Resident
Retiree’s Visa (SRRV) could be for you.
What is the
SRRV?
The Special Resident Retiree’s
Visa is a special non-immigrant resident visa that provides its holders
with multiple-entry/indefinite stay status in the Philippines.
It also grants some tax-free incentives and privileges as well as
value-added services..
The
SRRV is especially designed for foreigners who wish to live in the
Philippines on an extended or permanent basis.
It is a
“lifestyle” visa for those who enjoy perks and privileges, a “hassle-free”
visa for the frequent business traveler, and a “retirement visa” for the
elderly.
It requires a "time
deposit" of USD $50,000 or $75,000 (or the deposit equivalent - see below).
The amount depends on your age.
Benefits of SRRV
1.
The right to
reside permanently, or for as long as you want
This
special permanent resident, non-immigrant visa gives you the right to have
another home away from home
2. The
SRRV provides you with Multiple-Entry Status
Allowing you to go in or
out of the country anytime at any Philippines port of entry
3. The
SRRV exempts you from having to secure the Exit & Re-Entry Clearances from
the Bureau of Immigration
Makes your
“Multiple-entry” status more convenient and comfortable for the business
person and the frequent traveler
4. No
need for Travel Taxes
Exemption from Travel Tax, provided
that the SRRV holder has not stayed in the Philippines for more than a
year from the date of last entry
5. You can work in
the Philippines
Upon issuance of
the Alien Employment Permit (AEP)
6. You can start a business in the Philippines
Convert
your deposit into an active investment (condominium, stocks, business etc.)
7.
SRRV entitles
you to bring your spouse & two of your dependents
8. Free importation of household items
Tax-free
importation of household goods/personal effects worth US$7,000.00
There are a number of steps to qualify for this great program. Please
email us for more information at
sales@condomillion.com, or contact:
PHILIPPINE
RETIREMENT AUTHORITY
29th Floor Citibank Tower
8741 Paseo de Roxas, 1207 Makati City, Philippines
________________________________________________________________________________
Article 2 -
Build-To-Own a better way to buy
The
Build to Own (BTO)
scheme is a construction industry initiated project wherein, by
eliminating the middleman and added costs (ie. excessive profits, various
overheads, executives' salaries, excessive loan & debt service), the price
of condominium units can be brought down by as much as 45 percent less
than current market prices, making condominiums more affordable.
The BTO
scheme lets buyers own residential units at direct cost by hiring the
services of technical professionals instead of purchasing mere end
products from the middleman. Buyers are more protected through this scheme
because unlike other projects where the project is mortgaged to a bank,
the BTO project is debt free. Unit owners are also protected through a
Trustee Bank or Escrow Account, that manages the release of funds strictly
for the project. Further, BTO projects are shorter and on time, as the
schedule does not rely exclusively on reaching a certain number of sales,
as with traditional development methods.
Here are some advantages of a
BTO scheme when compared to traditional ways of purchasing condos:
|
CONVENTIONAL
METHOD |
BTO METHOD |
|
Overpriced, debt
ridden, heavy overhead |
Debt free, direct
cost, price is up to 45% lower |
|
Construction fund
is raised through mortgaged on the land |
Project is fully
participated and fully funded upon start of construction |
|
Buyers own
nothing until completion and release of mortgage |
Buyers own land
and project |
|
Buyers' payments
are easily diverted to other ongoing projects or unrelated purposes |
Employment of a
trustee bank to make sure funds go only into the project |
|
Less mortgagable
value |
Higher
mortgagable value because of direct cost |
|
RENTAL NEGATIVE:
Rental income is insufficient to cover monthly ammortization |
RENTAL POSITIVE:
rental income has positive balance after deducting amortization
payment |
One
such BTO project
listed with CondoMillion.com is South of Market. In the last 6 months,
approximately 50% have already been sold, so the concept is definitely
appealing. The added bonus with South of Market of course is that they
come fully fitted and furnished. A double bonus! For more
information about the BTO project South of Market, just
CLICK HERE.
______________________________________________________________________________
NEWS
Julie
Formento, outshines the rest!
Julie Formento, who joined
CondoMillion.com in 2003, has certainly made her mark in
such a short time.
On November 18, at a special presentation at Century Properties and Meridien Development, Julie was awarded the number one salesperson from
July - September 2004, for the entire company.
"I feel so happy and honored receiving this award," said an excited Julie.
"I'm just so glad my hard work has been recognized in this way."
Julie sold approximately 18.5 Million Pesos of real estate, in towers such
as South of Market and Oxford Suites. The President of CondoMillion.com,
Mr. Sante Delle-Vergini was full of praise for his youngest recruit:
"Julie may be young, but hard work, enthusiasm and a winning smile go a
long way in sales, and she has proven that. It also shows that
CondoMillion.com hires the best performing agents."
Well done Julie!
Condos under a Million Pesos!
In case your weren't paying attention in our
last newsletter, we are offering luxury condos in the heart of Baguio
City, right opposite Camp John Hay, from under 1 Million Pesos. The
Manhattan Suites are Philippines' best kept real estate secret.
Please email
sales@condomillion.com or |