Monday, June 24, 2019

Nov 26 18, 5:01 pm

Bong Go serves as ‘private adviser’ to Duterte in ASEAN Summit

Senator-elect Bong Go defends himself from criticisms on why he was with President Rodrigo Duterte in Thailand for the ASEAN Summit.  Go said that he was there in his own capacity. He was not even allowed to attend other important meetings during the summit. “I am in...

UAE motorists to hear emergency announcements through car radio

Sharjah Police launched a device that could transmit messages to car radios to inform motorists to give way for an approaching emergency vehicles or patrol cars. The police said this would ensure rapid response to emergencies and help the authorities reach their...

What do OFWs need to consider when investing in property?

by | Feature, Finance

Nov. 26, 18 | 5:01 pm

Overseas Filipino workers (OFWs) go abroad to earn money primarily for their children’s education – get them to the best colleges.

After, this, they focus on investing for retirement where they hope to generate passive income.

Renowned financial literacy advocate Randell Tiongson points out that among the best way to invest is in real estate especially in school and central business districts (CBD), where there’s no shortage of rental properties.

“This is because continuous demand directly relates to the flow of income. If your property is near a university, every four or five years, there’s always a new batch of students looking for a place to stay. You can expect there’s always an individual eyeing a home near one’s workplace if your rental property is in a CBD,” Tiongson said.

But before you go any further, consider this four-point validation, he said:

1. Is the property location strategic?

Easy access to malls, parks, hospitals, and accessibility to public transportation increase the profitability of university towns and central business districts.

Quezon City, Makati City, and Paranaque City are the three most searched cities in the Philippines according to Lamudi’s 2015 white paper report. Why?

• Quezon City has many universities and colleges, research institutes, and commercial developments.
• Makati City is the financial center of the country with the highest concentration of local corporations and multinational companies.
• Paranaque is close to Makati City and Pasay City but offers more affordable housing options.

2. Will the area develop and grow in the coming years?

The search traffic for properties in CALABARZON, Central Luzon, and Central Visayas continues to increase in the same Lamudi white paper report. Search traffic in CALABARZON surged 130% from the 4th quarter of 2014 to the 1st of 2015. The reason for this is current and future developments in the region, namely in Cavite and Laguna.

The developments in these two areas show no signs of stopping. Nuvali, in Sta. Rosa, Laguna, has easy access to numerous commercial establishments, schools, leisure areas such as a wakeboarding park, and residential properties where the price per square meter is starting to match Metro Manila’s. Ayala Land, Inc.’s vision for Nuvali is to make it the next financial district south of Makati. This area will continue to grow and thus makes it a strategic location to invest in.

The area is a good investment opportunity if the area is situated in a less developed area that is primed to grow and progress in the future. Don’t join the race when it has already started; invest in properties in the early stages of development.

3. Can you handle the monthly amortization?

Having enough to make the downpayment is one thing, paying your monthly amortization is another. Your payment terms, interest rate, and timeframe varies on your personal preferences. The only thing that stays permanent is the necessity to keep up with the monthly payments. Avoid late payments as this leads to paying more in interest. Do the math first and ensure you can afford the monthly amortization before you decide to invest in real estate.

You can use MoneyMax.ph’s comparison portal for housing loans to give you an idea at how much you can expect to pay on a monthly basis depending on your time frame and loan amount.

4. Do you have savings for emergency situations?

As the landlord, you are liable to cover for unnecessary situations that may arise (unless otherwise stated in the contract). You should shoulder expenses for water leaks, roof repairs, and floor re-tiling among many other repairs. You’ll also be covering for utility bills and the homeowner’s association fees f your property is left vacant for several months.

The importance of having savings or an emergency fund is to cover for emergency situations in relation to your rental property.

You’re on the right track in buying a profitable property if you find yourself saying ‘yes’ to the questions above. Remember that when you invest in real estate, your intention is to earn and make money because you are investing. Make sure that the property you’re eyeing is profitable before you make a down payment.

The longest-running, most trusted and biggest Philippine investment event in the Middle East region, Philippine Property and Investment Exhibition (PPIE), is back. It has helped thousands of OFWs own their very own home. Be part of PPIE 2019 on April 26-27 at the JW Marriott, Deira, Dubai to reach your aspired home. Like @ppieuae on facebook to get tips and alerts on unbeatable deals.

Jobs

Editors Choice

Biggest PH Independence Day celebration in UAE’s history

Biggest PH Independence Day celebration in UAE’s history

DUBAI: For the first time in UAE’s history, two of the country’s top tourist destinations, namely Burj Khalifa, the world’s tallest tower; and Dubai Festival City Mall, displayed a light show on Philippine Independence Day. For the first time as well, major parks in...

Duterte signs ‘Magna Carta for the Poor’

Duterte signs ‘Magna Carta for the Poor’

DUBAI: Staying true to his campaign promise three years ago on effecting changes for the common good of the Filipino people, President Duterte, who has further consolidated his grip on power with the recently-concluded midterm polls and apparently determined on...

Pinoys in UAE upbeat about Expo 2020

Pinoys in UAE upbeat about Expo 2020

DUBAI: Preparations for the Philippines’ participation at Expo 2020 is fast gathering steam with the one-million-strong local Filipino community upbeat about the chance to showcase the country to the world through the much-anticipated event. A recent post on The...

‘OFW’ now part of Oxford Dictionary

The newest edition of the Oxford English Dictionary (OED) makes a space for a number of Filipino words, and ‘OFW’ is one of these. ‘Bongga’ is defined as a slang word for extravagant and flamboyant. ‘Halo-halo’ is a Filipino snack or dessert. ‘Despedida' is a farewell...

OFW falls to her death in Morocco after fleeing employer

A Filipina Overseas Filipino Worker (OFW) falls to her death in Morocco after trying to escape the hands of employer. Philippine Embassy in Tripoli Chargé d’Affaires Elmer Cato said in a statemment that a 49 year old victim had a spat with her employer prior to her...

Recent posts

We listed over 1,000,000 jobs from United Arab Emirates monthly.

Accomodation option available in the market.

Latest News
Subscribe to our free weekly newsletter and never miss a thing. No spam. Only hand-picked trending news.

THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

FOLLOW US

SIGN UP FOR NEWSLETTER

THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

FOLLOW US

SIGN UP FOR NEWSLETTER

© 2018 The Filipino Times. All rights reserved

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

More in Feature, Finance
Tips to remember when driving in the rain
Published On  November 26, 2018
Wishful 5 to delight UAE fans with performances from their certified Platinum album
Published On  November 26, 2018
Abu Dhabi-based Pinay tops SPLE for Architects in the Middle East
Published On  November 26, 2018
Close