The Winning Combination of Condo Hotels and Retirement

Considering retirement in a Tropical Climate? Formeets international standards.
many British, Australians and Americans, retirementA Japanese company is building a medical facility in
time is just around the corner. At home, with lowTagaytay city exclusively for Japanese nationals
interest rates and high cost of living, the prospect ofwithin the year. There are now close to 10,000
trying to live on a pension, in old age, is a dauntingJapanese retirees in the country, and the number is
one unless you are preapred to substantiallygrowing annually. The British government recently
downscale your lifestyle. For some, moving to retireacquired a large tract of land in Fort Bonifacio to build
in another country is an option which has beena new Embassy. The British ambassador explained
successful in the past with Spain, Portugal, Mexicothe larger facility is meant to help serve the growing
and Puerto Rico being among some of the morenumber of British nationals retiring there as well.
popular destinations. But why not consider retiring inJapanese and Korean investment groups are buying
the Philippines?homes and condominiums in Manila, and tracts of
Over the past decade, the Philippines has become aprovincial land for retirees. This has caused a mini-
retirement haven for thousands of foreigners,Real Estate boom in the country. A retirement village
particularly the Japanese, Korean, and Northernexclusively for Japanese nationals already exists in
Europeans. Along with Thailand and Malaysia, theTagaytay, and more are planned. These are strong
Philippines developed communications, infrastructure,indicators of what is on the horizon
and service delivery systems specifically geared toEnglish is the Philippines' official business language.
meet the needs of foreign retirees. Better yet, unlikeMost of the people you will meet, from hotel
most European Countries and South America, nearlyworkers, taxi drivers, sales or service people,
everyone speaks ENGLISH in the Philippines.government employeesa all speak English, or have a
The Philippines offers a significantly lower cost ofworking understanding of it. The middle class speak
living. The Philippine Peso (PhP) exchange rate isEnglish, without exception. All major newspapers, and
approximately PhP 45 to $ 1.00 or PhP 92 to 1 Poundmajor broadcast companies use English. An English
[Sterling (GBP)]. Housing, food, and labor costs arespeaking visitor will never get lost in the Philippines. It
quite reasonable. A One bedroom condominium canis the universal use of that language that has been a
be purchased for around $ 72,000 or GBP 37,000 orstrong incentive to foreigners. As well,
a Studio for only $ 45,000 or GBP 22,800 and onecommunications links within the country and to other
can dine out on average at a three star restaurantcountries via the various commercial gateways is up
for less than PhP 500. If you hire domestic help, ato international standards. For example, the use of
private driver's salary is approximately PhP 10,000cell phones and text messaging is so common that
month, while trained housekeepers earnhousemaids, street vendors and food hawkers can
approximately -PhP 5,000/month. These salaries arebe seen using their celphones incessantly.
lower if you live in the provinces.One will never want for adventure and sights to
Cable Television, Hi-Speed Internet and Satelliteexperience in the Philippines. There is always a colorful
Communications are cheap. One can hire anFiesta, pageants, street festivals, and open public
air-conditioned taxicab for eight hours for less thanevents going on. Lush with bountiful natural
$25.00. In a country where a provincial Governor'sresources, one can enjoy the numerous beaches,
salary is only PhP 28,000 per month, and aresorts, golf courses, and play just about any sport,
Presidential Cabinet Under-Secretary earns PhPexcept skiing. There is an ice skating rink in Manila,
35,000, your pension can go a long way. So, if youthough. Scuba diving and fishing are among the sports
have a retirement income of approximately $1,500 towhich draw the most number of foreigners to the
$2,000 per month ( PhP 80,000 to 100,000) you canrich aquatic offerings.
live quite well in the Philippines.Shopping is the Filipinos' second most popular activity,
As for health care, most U.S. Health Managementthe first is eating. Manila is Asia's undiscovered
Organizations pay for medical expenses incurred inshopping Mecca. You will love the golden purple
the Philippines. Check with your HMO. The Philippinesunsets, the fragrance of the flowers at dusk, and
Department of Foreign Affairs presently has a taskthe wonderful array of fruit and food. I used to
force headed by former Secretary Roberto Romuloenjoy watching the Sun set from the bar at the
working to have the U.S. government accredit aPhilippine Cultural Center. There, you can listen to the
number of first class Philippine hospitals for MedicareSymphony, check out a play, or enjoy Grand Opera.
reimbursement. The Makati Medical Center, one ofThere is just so much to explore and discover,
the nation's best already has such accreditation.specially in terms of nature, culture, and history. If
Unbeknown to many is that for years, citizens ofyou're a betting man, there's horse racing, the Jai Alai,
nearby countries such as Thailand, Nauru, Tonga,numerous first class casinos, and of course,
Indonesia, and Malaysia have flocked to the Philippinescok-fighting. Manila is well known for its exciting night
for medical care, particularly sensitive surgicallife.
procedures. The quality of medical care at the betterThe Philippines offers affordable real estate and good
Manila hospitals such as the Asian, St. Luke's, Medicalinvestment opportunities for those seeking a
city, Cardinal Santos, Philippine Heart Center for Asia,retirement haven.
National Kidney Institute, and Makati Medical Center