Condotels, A Growing Investment Option!
Condominium units used for short-term guests, otherwise known as “condotels,” are an increasingly attractive property investment.
The rise of hospitality service websites like Airbnb is part of the reason the condotel trend is growing, as travelers are increasingly drawn to alternatives to traditional hotels, particularly for longer visits.
Condotel units are typically individually owned and managed by the owner himself. Yet, there is an option for it to be included in a property management program, with the manager handling renting out of the unit (along with regular building management and maintenance services) and retaining a percentage of the rental income as payment for services.
“The main advantage of owning a condotel unit is its ability to generate passive income. Depending on its location and season of the year, it can potentially earn a lot of money.
The growth in tourist arrivals surpassing 600,000 in January of this year, about ten percent more than in the same month last year, is one factor that makes condotels a potentially lucrative investment, the online listing service added, particularly in peak seasons. Locations near airports or near popular tourism areas are the most likely to generate the highest incomes.
Benefit for OFWs
Investing in a condotel is particularly beneficial to overseas Filipino workers, who wish to own a property but are unable to oversee their investments in the Philippines.
The condotel concept is a hassle-free investment for them because even if you’re out of the country, 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.
For overseas Filipino workers (OFWs), having a condotel means getting to stay for free in a stylish unit that is ideally close to everything whenever they are in the country. It also gives their family here at home the chance to ‘check in’ whenever they are in the mood for a staycation without having to pay for a hotel.
SM Development Corporation (SMDC)
Every single day, SM touches the lives of millions of people through its stores, malls, banks, hotels and leisure facilities. And now, Filipinos can live in style, comfort, and convenience at SM Development Corporation (SMDC).
SMDC commits itself to provide access to luxurious urban living through vertical villages perfectly integrated with a commercial retail environment, giving its residents a truly cosmopolitan lifestyle.
SMDC developments are strategically situated in key areas across Metro Manila specifically the Central Business Districts of Makati, Ortigas, Quezon City, Pasay, Paranaque and Las Pinas.
Welcome to the World of SM
An ownership of an SMDC property is a ticket to perks and privileges across the world of SM, exclusive to SMDC homeowners like you.
As the residential arm of property conglomerate SM Prime Holdings, SMDC is proud to be a member of the SM Group. With substantial interests in retail (SM Store, SM Supermarket & Hypermarket, Walter Mart stores), banking (BDO Unibank and China Banking Corporation) and property development (SM Malls, SMDC, SM Land), we are the leading and biggest conglomerate in the Philippines.
True to our vision of uplifting the lifestyle of the Filipino, we strive to provide you a whole new spectrum of living experience, bringing you closer to world-class dining, top international fashion labels, top notch entertainment and recreational facilities, all within a few steps from where you live.
For Inquiry and Reservation:
Call or Message Our International Broker based in KSA: +966564835038 ( sms | whatsapp | imo )
The rise of hospitality service websites like Airbnb is part of the reason the condotel trend is growing, as travelers are increasingly drawn to alternatives to traditional hotels, particularly for longer visits.
Condotel units are typically individually owned and managed by the owner himself. Yet, there is an option for it to be included in a property management program, with the manager handling renting out of the unit (along with regular building management and maintenance services) and retaining a percentage of the rental income as payment for services.
“The main advantage of owning a condotel unit is its ability to generate passive income. Depending on its location and season of the year, it can potentially earn a lot of money.
The growth in tourist arrivals surpassing 600,000 in January of this year, about ten percent more than in the same month last year, is one factor that makes condotels a potentially lucrative investment, the online listing service added, particularly in peak seasons. Locations near airports or near popular tourism areas are the most likely to generate the highest incomes.
Benefit for OFWs
Investing in a condotel is particularly beneficial to overseas Filipino workers, who wish to own a property but are unable to oversee their investments in the Philippines.
The condotel concept is a hassle-free investment for them because even if you’re out of the country, 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.
For overseas Filipino workers (OFWs), having a condotel means getting to stay for free in a stylish unit that is ideally close to everything whenever they are in the country. It also gives their family here at home the chance to ‘check in’ whenever they are in the mood for a staycation without having to pay for a hotel.
SM Development Corporation (SMDC)
Every single day, SM touches the lives of millions of people through its stores, malls, banks, hotels and leisure facilities. And now, Filipinos can live in style, comfort, and convenience at SM Development Corporation (SMDC).
SMDC commits itself to provide access to luxurious urban living through vertical villages perfectly integrated with a commercial retail environment, giving its residents a truly cosmopolitan lifestyle.
SMDC developments are strategically situated in key areas across Metro Manila specifically the Central Business Districts of Makati, Ortigas, Quezon City, Pasay, Paranaque and Las Pinas.
Welcome to the World of SM
An ownership of an SMDC property is a ticket to perks and privileges across the world of SM, exclusive to SMDC homeowners like you.
As the residential arm of property conglomerate SM Prime Holdings, SMDC is proud to be a member of the SM Group. With substantial interests in retail (SM Store, SM Supermarket & Hypermarket, Walter Mart stores), banking (BDO Unibank and China Banking Corporation) and property development (SM Malls, SMDC, SM Land), we are the leading and biggest conglomerate in the Philippines.
True to our vision of uplifting the lifestyle of the Filipino, we strive to provide you a whole new spectrum of living experience, bringing you closer to world-class dining, top international fashion labels, top notch entertainment and recreational facilities, all within a few steps from where you live.
For Inquiry and Reservation:
Call or Message Our International Broker based in KSA: +966564835038 ( sms | whatsapp | imo )
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