Property for sale in Cebu Central Visayas Philippines
90% SOLD!
An excellent development with a guaranteed rental return equating to net yields of up to 23.6% with the option of a developer mortgage of 60% LTV. This superb resort is projected to give returns on investment of 36.9%.
Whilst an emerging market for the property investor the tourism market in the Philippines is already established. Tourism in the Philippines breached 3 million in 2007. In Q1 2008 tourism grew by approximately 8%, with the Koreans being the highest source. The growth seen in 2008 was due to a high percentage increase in tourists from Hong Kong, Canada, Australia, China and the UK.
Located on the highly regarded eastern side of Mactan Island, this delightful resort and spa offers beauty & tranquillity, set within the Pearl of the Orient and just 20 minutes from Cebu International Airport. Covering 10,000 sqm and with its own private beach, this stunning development boasts views of the Bohol Straits and Cordova Island.
This is a select development of just 195 rooms only 95 studio suites, 25 two bedroom suites, 10 two bedroom and 10 three bedroom pool villas available for private ownership with a condominium title. This is complimented by 26 spa treatment rooms, swimming pools, play areas, restro bar, conference facilities, shopping, watersport facilities, including a diving centre, and a superb professional gymnasium.
This project we are advised is government bonded and the rental guarantee for this project is offered by the developer and is clearly defined in the legally binding Sales and Purchase contract for the property. Investment projections are available for the aprtments and the villas on request. There is also non-status finance available of 60% LTV. The location and the ease of transport is key to this development and will appeal to the established Korean and Australian tourism markets. The development will be of a 5* standard, and will be managed by an established global management company As you will observe, they are already actively advertising the resort, with a Korean tour operator already in place! The resort facilities include spa treatment rooms, swimming pools, play areas, restro bar, conference facilities, shopping, watersport facilities, gymnasium and private beach.
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