As a new decade begins, more and more Filipinos are now seriously considering to begin their new investments in the form of owning a property as DoubleDragon notes that among the main drivers of the real estate market are OFWs.
Kristin Reyes, Head of Sales Operations at DoubleDragon, shares that the company is optimistic that many Filipinos overseas – particularly the UAE, will soon look into the possibility of getting their first property investment, or add on another property to their investment portfolio this year.
“We expect a strong Philippine real estate market in 2020, with sustained increase in land values. Main drivers of the market are high remittances from Overseas Filipinos and continuous Chinese spending on rentals of office spaces and even purchases of residential properties,” said Reyes.
A seasoned property expert for more than seven years, Reyes likewise furthered that with the ongoing expansion of new infrastructure projects linking several provinces with Duterte’s ‘Build build build’ campaign, OFWs should now look into the possibility of investing in properties from many key provinces before prices go even higher.
“Aside from Metro Manila, OFWs should consider key provinces, such as Davao, Cebu, Palawan, Bohol and Iloilo. It is also important that investors buy properties from reputable developers in the right locations,” advised Reyes.
Impeccable timing
The year 2020 doesn’t just mark the beginning of a new decade, it also marks a turning point for many OFWs who will soon grab the opportunity to invest in their future by purchasing and funding their own property as they continue to work in the UAE. “2020 is a great time to invest in property, as the real estate sector is stable and still on the rise. It is a good time to take advantage of positive market conditions, with upcoming additional infrastructure plus improved and new ports throughout the country,” said Reyes.
DoubleDragon’s Head of Sales Operations adds that with the upcoming Philippine Property and Investment Exhibition (PPIE) this 2020, more Filipinos will be-in-the-know and to make more informed decisions as to which property to opt and buy for their needs: “We might still in the infancy of penetrating the market in the UAE, but we expect a positive change in the coming months as we strengthen our marketing efforts, together with PPIE.”
