Thursday, May 16, 2024

OFW Investment: Real Estate Investing In The Philippines

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Overseas Filipino Workers should understand how real estate investments can benefit them in the long term. Since they sacrifice so much by having to work abroad, it’s best to put their money in the proper financial vehicles to get enduring results.

People can invest in various ventures and businesses but if you’re aiming to get long-lasting benefits, fixed assets like real estate are the way to go. Property has more value compared to other things where you might consider placing your money.

In the Philippines, the cost of land can be very affordable in some areas and their value constantly rises over time. If you’re working abroad and intend to grow your money to enjoy retirement, it’s best to invest in land and discover how you can make money out of it.

Land Appreciation in General

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OFWs who invest in real estate discover that their investment on properties usually have bigger and more stable returns after a few years.

This is because properties in the Philippines go up in value anywhere between 3 percent and 5 percent every year because of appreciation. There are even some areas that suddenly undergo major developments, such as the building of a huge shopping mall or the construction of a main highway and transport system nearby, thus increasing the surrounding lands’ value two or three times their original price in less than a decade.

It is very rare for real estate to depreciate in value, so you can expect your investment to last a lifetime and longer. The value of the property will continue to rise with little or zero monitoring which will be beneficial in your case since you’ll be spending most of your time abroad.

More Advantages of Investing in Real Estate

  • People who work abroad and invest in real estate in the Philippines can also enjoy other advantages, such as having permanent property where they can build their retirement or dream home.
  • You can also allocate land for extended family members and guarantee that your children will have an inheritance. Although living abroad, you can do a lot of things with real estate, such as offering it for lease or rent during your absence, building a commercial or residential structure, growing a farm or garden and reselling it at a higher price.
  • Many OFWs buy and sell property by studying and comparing the values after several months or years — and then selling when the asking price hits their rate of profitable comfort. With this money, they again buy another property with the prospect of selling in the future.
  • Paying for real estate in the Philippines as an OFW is also more convenient since there are programs and payment schemes available.
  • Those coming from low or medium-income brackets can avail of long term plans so you can save a small percentage from your monthly income to pay for the property in installments.
  • The amount you save each month to pay for the property compared to the long term benefits and returns that you will get will be a worthwhile investment. It’s recommended to discuss matters with a reliable real estate expert who can provide you with options and the average growth rates.
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  1. Real estate is one of the most reliable and profitable forms of placement for one’s savings. The value may go down but it will always go up because the number of people looking for home space, business space, agricultural production and industrial activities keep growing. There are pitfalls however like how safe is the purchase of a land whom the buyer do not know, or how stable is the developer who develop subdivisions and condominium.

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