Posted November 4, 2021
Even with the uncertainties brought about by the COVID-19 pandemic, the Philippine property market continues to be a top choice for a safe investment vehicle for OFWs. Image from: https://www.freepik.com/free-photo/miniature-house-living-room_3398407.htm
Where do you see yourself in 10 years? Are you traveling around the world? Or running your own business enterprise? Or perhaps enjoying much-deserved quality moments with family in a happy neighborhood? For many Filipinos, attaining a life of comfort and luxury means having to expand their horizon abroad to earn a higher salary and have a better quality of life. Overseas Filipino Workers or OFWs who work in such diverse capacities as nurses, doctors, teachers, and engineers, among others, opt to work in foreign countries to provide for their families and save for their long-term financial goals.
This is why, more and more OFWs have become empowered to make diversified investments with the goal of sustaining their families for the long term. However, the COVID-19 pandemic has changed the landscape of economies all over the world, prompting various lockdowns, a year-long recession, and stock market volatility affecting investments and businesses worldwide.
With the country’s vaccination program gaining momentum, however, sustained infrastructure spending, and anticipated economic boost due to election spending and the gradual lifting of lockdown restrictions, the Philippines is poised for a recovery next year.
If you’re an OFW thinking where and when to invest your money, you might often hear that amid the ongoing pandemic, the best time to invest in Philippine real estate is now. This is sound advice especially at a time when property prices in more developed countries may shoot up and drive investors to look for opportunities elsewhere.
During these uncertain times, while it is sensible to keep aside an emergency fund from your savings, investing your hard-earned money in smart opportunities will be the next best thing to ensure that you will reap enviable returns in the future. Today, more than ever, OFW investors are looking beyond riskier and more volatile options and considering the steady and long-term growth potential of real estate.
What makes Philippine real estate a safe and worthy investment for OFWs in the middle of a pandemic?
1. Value Appreciation
A lot of OFWs invest in real estate because it is a tangible, long-term investment. They can physically see where their money actually goes, in the form of a plot of land, a house and lot, or a condo unit. With the right location, real estate value increases over time. With booming infrastructure and property development in Metro Manila and its peripheries, it is uncommon for real estate in business districts to depreciate in value over time. Especially when the property is properly maintained. This is why in Torre Lorenzo, the in-house property management team ensures that maintenance and sanitation are at par with standards even long after the unit has been turned over.
If you know where to look, some investment options that provide safe opportunities for OFW investors can be found in business districts and south of Manila such as in Lipa, Batangas. Location is the real value indicator in real estate and purchasing premium lifestyle residences like in 3Torre Lorenzo and Torre Lorenzo Malate in Manila or Torre Lorenzo Loyola in Quezon City are sensible investment opportunities. Rising leisure hubs and establishments in the city and surrounding areas ensure that investors have diverse options when it comes to work and play. The economic potential of these areas and existing and planned infrastructure projects have driven more and more businesses to locate there. These key urban areas continue to increase in real estate value, so whether you are investing for your family, your business, or your own financial security goals, your property in this area can only grow in value with you.
2. Flexible payment options
Due to the pandemic, Collier’s Philippines observed reduced prices of properties across Metro Manila in the second quarter of 2021, which is expected to persist until the end of year. For the OFW investor who is considering to make an investment, this is the perfect time to take advantage as there is anticipated rise in prices in the medium term when the country’s economy is projected to recover.
Likewise, property developers are currently ramping up flexible payment terms, discounts, and promos to attract ready investors. For young OFWs, availing of flexible terms is a viable option to investing as the risks are more manageable while still getting your hard-earned money’s worth.
3. Profitable investment
Many seasoned real estate investors rent out their properties, allowing their investments to build wealth for them over time. This passive income is an appealing opportunity for hardworking OFW investors especially if they don’t intend to utilize their property as a family home. You can also have the option to resell it at an increased value to recover your investment.
If you’ve chosen the right area to invest in, such as the ones close to commercial retail developments, tourist spots, offices, hospitals, and even schools, your property can be an ideal source of income and can even pay for itself. Even in the midst of prolonged COVID-19 pandemic or stock market instability, the real estate industry is seen to remain resilient and is expected to bounce back in due time.
Invest in the community you deserve
Investing in a strategic location close to necessities and infrastructure like Torre Lorenzo Loyola ensures that your property will grow in value over time.
While now is the most opportune time to grow that well-earned money, always remember to do your research prior to taking the plunge. Only invest in something that fits your goals, the life you envision for yourself and your loved ones, and your capabilities and means. Determine how much capital you can commit in the next number of years. Also consider the property’s potential. Is the location strategic and accessible? Is it near establishments that matter to you, your family, or your potential tenants? Is there infrastructure being built around the area? Is the property well maintained? Can it accommodate growth and change? OFW investors should know that there's more to choosing a property investment than the luxuries offered by the physical space or the most attractive discounts on offer. A property's real value lies outside the structure, which can be fixed, revamped, and renovated as the owner sees fit. It is more about the inherent value and livability of the project and its surrounding area. Property values rise and fall depending on location and how the area is projected to grow in the future. They also rely on a neighborhood that assures convenience, comfort, and connectedness.
In the years to come, whether you use your property investment as a space for you, your family, or as a personal income generating asset through leasing or reselling, a smart and strategic decision today will provide financial stability for you in the future. Take it from the many OFWs who have chosen to invest in the Philippine property market. Their investments in real estate provide them with security, stability, and many other great returns in between, and it’s waiting to do the same for you and your family.
Make sure that you choose a trusted property developer to invest your money. Torre Lorenzo Development Corporation (TLDC) is at the forefront of creating new opportunities in real estate. From pioneering premium university residences in the country, the company has grown its portfolio to include mixed-use and leisure developments in Manila, Quezon City, and Las Pinas, as well as in key emerging regions like South Luzon and Davao.
Quality and investment value are the hallmarks of TLDC’s premium residences, which have become distinct addresses in the metro’s university districts. In Davao, TLDC has partnered with international hospitality brand Dusit to bring Dusit Thani Residence Davao, Dusitd2 Hotel, and Dusit Thani Lubi Plantation resort - providing the most rewarding residential and leisure experiences in the region.