INVESTOR SEES GOOD RETURNS
It took only one meeting to convince Sandra Mae Sta. Rita to invest in a premier condominium development in the Iloilo province.
For Sta. Rita, the reasons are compelling enough as it is, as the two condo units that she purchased were located within a premier residential development that boasts of wide open spaces, lush greenery, picturesque views, and a stunning man made lake, where various sports activities can be held. But there is another reason. Sta. Rita was among those who purchased units at the SotoGrande, a six-storey full hotel development rising within Green Meadows reportedly Iloilo’s first residential lake community.
Like the other “condotel” projects under the same brand, the SotoGrande Iloilo by Sta. Lucia Land Inc. offers the same opportunity to those seeking to get lucrative returns from their investments in the property sector.
In recent years, the concept of “condotels”—coined to mean a condominium with hotel units and facilities—is emerging to be a more attractive, and a relatively hassle free way of making your real estate assets earn for you.
“We chose SotoGrande since it’s a condotel. Unlike other condos wherein you have to maintain the unit, at SotoGrande, we enjoy free maintenance for 15 years. I believe this is also a practical move for us especially since we travel a lot and our purchase of the units allow us free stay in other SotoGrande condotels,” Sta. Rita said.
“That’s why right at the first meeting, I
was already convinced. We already knew how condos work as we have previously invested in one. But our two SotoGrande units will provide us actual returns plus that (privilege) of being able to stay for free in other SotoGrande hotels for a total of 60 nights a year. And of course, it’s practically maintenance free for us,” she further explained.
According to Sta. Rita, she even recommended SotoGrande to a friend, as she believed in the viability of the said project.
“I also believe that SLLI is a good developer to begin with and that’s why we decided to go for it. This is really one investment that we are looking forward to,” Sta. Rita added.
In a nutshell, purchasing a condotel unit— provided that it’s from a trusted, credible developer— would mean no headache, no marketing, no cleaning, and no contracting with outside providers for maintenance.
Sta. Lucia Hotel Management Group general manager Imee S. Yu explained in an earlier interview that the condotel concept is a hassle free investment because “somebody can manage it for you. Someone can market it for you. You don’t need to worry about unit maintenance and in fact, the amount that you can earn can also help pay for your dues, taxes and other expenses.”
“Ownership is 100 percent hassle-free as all maintenance and rental issues are handled by hotel management company,” Yu earlier said. “At the same time, there is a cash flow or an income that can help pay for expenses. How much you’ll earn will be subject to occupancy rates, inflation, and foreign exchange movements.”
Based on their estimates, Yu claimed that a condotel unit owner’s return on his or her investment can be 11 times better to a regular savings account in a bank, assuming even just a 35 percent occupancy rate.