Sunday, September 22, 2019

Nov 26 18, 5:01 pm

Abu Dhabi grants legal status to churches, temple

Some 17 churches and a Hindu temple will be among the places of worship which will be granted legal status in Abu Dhabi. Among the churches which will be legalized is the St. Joseph's Cathedral, which is the UAE's oldest church that dates back to 1965. The move to...

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

UAE leaders congratulate King Salman on Saudi Nat’l Day

UAE leaders congratulate King Salman on Saudi Nat’l Day

President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy...

Sustento: Paano kung may asawa’t anak na ako?

Sustento: Paano kung may asawa’t anak na ako?

Money is a double-edged sword: As much as it brings comfort and happiness, it is also the reason why many relationships and personal connections are permanently damaged when poorly handled. This is most especially true for married couples here in the UAE – as they...

UAE condemns terrorist attack on two Saudi Aramco facilities

UAE condemns terrorist attack on two Saudi Aramco facilities

The UAE has strongly condemned the terrorist attack on Saturday that targeted two Saudi Aramco facilities in Abqaiq province and Hijrat Khurais in Saudi Arabia, causing fires that were later brought under control. In a statement issued today, the Ministry of Foreign...

DFA to OFWs in Saudi: Stay alert

DFA to OFWs in Saudi: Stay alert

The Department of Foreign Affairs has asked the more than two million Filipino workers in Saudi Arabia to exercise further caution and be alert following the drone bombings on Saudi Aramco’s two major facilities Sunday. “Sa ating mga kababayan sa Kingdom Saudi Arabia,...

Reunited!

Reunited!

DUBAI: The United Arab Emirates (UAE), being among the top destinations for overseas Filipino workers (OFWs) is second home to about a million Pinoys. Such being the case, the odds of one bumping into an old friend – even someone THEY grew up with back home – in the...

Abu Dhabi grants legal status to churches, temple

Some 17 churches and a Hindu temple will be among the places of worship which will be granted legal status in Abu Dhabi. Among the churches which will be legalized is the St. Joseph's Cathedral, which is the UAE's oldest church that dates back to 1965. The move to...

Maymay Entrata gives OFW mom a new house

Maymay Entrata has revealed that her life totally changed since winning in Pinoy Big Brother. She is now one of the most sought-after product endorsers today and landed on some international modeling stints. She was also part of the blockbuster film 'Hello, Love,...

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