FAQ

常见问题

What is a condotel, and how does it differ from a traditional hotel?

A condotel combines the features of a condominium and a hotel. Owners purchase individual units that are managed by the hotel when they are not in use, offering the flexibility of ownership and the convenience of hotel services.
Can foreigners own a unit in the condotel in the Philippines, and are there any restrictions?

Yes, foreigners can own our condotel units. In the Philippines, foreign nationals are permitted to own condominium units within certain restrictions, typically up to 40% of the total units in a project. Our sales team is well-equipped to guide foreign buyers through the purchasing process, ensuring compliance with legal requirements and the availability of units for foreign ownership. Additionally, being part of PEZA and TIEZA allows JPark to offer competitive prices to foreign investors in economic and tourism zones, further enhancing the investment appeal.
What are the installment terms for buyers interested in purchasing a JPark condotel unit?

Purchasers are required to make a 10% down payment, followed by installment payments covering 40% of the total over the subsequent 22 months. The remaining balance is to be settled in cash.
Why should I consider investing in a condotel unit at JPark Island Resort, and what are the investment benefits of owning one?

Investing in a condotel unit at JPark Island Resort has some great perks. First off, there's a buyback program, so you can sell your investment after ten years if you want. The resort stays busy, so you'll likely make steady money from renting out your unit. Plus, JPark has a history of successful buyback programs, which makes investors feel good about it. The resort is also backed by Profood, a big company in dried fruits, which adds even more stability. For the first two years, you're guaranteed at least a 7% return on your investment, and after that, it goes to 5% for eight years. After ten years, you can sell your unit back to JPark for its original price plus a 20% premium. Overall, it's a solid investment for people who want a steady income and the chance for their investment to grow over time.
What documentation serves as proof of ownership for investors in JPark condotel units?

Investors will possess a Condominium Certificate of Title (CCT) as proof of ownership.
Can the investment be transferred? What are the tax implications, like inheritance tax and capital gains?

It is perpetual and transferable. It will be subject to taxes based on Philippine taxation laws.
Does the JPark condotel owner have the right to sell the property before the 10-year buyback period, and does the deed include a first right of refusal clause?

Yes, the unit owner can sell the condotel unit at any time without restrictions because the ownership is perpetual.
Do foreign buyers need to pay for legal assistance? Should they hire their lawyers?

The decision to hire legal assistance is at the discretion of the client. Clients have the option to engage lawyers to aid them in the purchasing process.
What amenities are available at the condotel?

Our property offers a range of amenities including a swimming pool, fitness center, restaurant, spa, concierge services, and more. These amenities provide guests and owners with a comfortable and enjoyable stay in Cebu.
Can I use my unit as a vacation home when visiting Cebu, and how do I book a stay at the condotel as a foreign guest?

Yes, you, as a unit owner, are entitled to enjoy 10 complimentary stays per year. If you exceed this limit, you can still reserve additional accommodations at a discounted rate.