Real estate is probably the favorite investment of Filipinos, according to renowned financial literacy advocate, Randell Tiongson.
“While less than 1 percent of the Philippine population invests in stocks, bonds, and mutual funds, 7 in 10 Filipinos own their homes, according to the Bangko Sentral ng Pilipinas’ (BSP) 2012 Consumer Finance Survey,” Tiongson said.
The expert said real estate is an advisable investment for retirement because the value of property appreciates through the years.
“Real estate property isn’t like a time deposit which gives you interest after a year (or less). You won’t make much by selling your property just after 6 or 12 months,” he said.
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