An opportune time for OFWs to invest in real estate
Written by: Amy R. Remo
The Philippine real estate industry sees an encouraging upward trend amid growing demand, rising property prices, and a recovering economy.
The residential segment has remained resilient despite market volatilities, as shown in Bangko Sentral ng Pilipinas’ latest Residential Real Estate Price Index (RREPI). According to the Q2 RREPI, nationwide residential property prices rose by 2.6 percent compared to the same period a year ago, and 1.6 percent against the previous quarter. In the capital region alone, residential property prices grew by 6.3 percent in the second quarter, due largely to increases in the prices of townhouses and condominium units.
Even Colliers Philippines officials, in a briefing on Thursday, said they see a “nascent recovery in the offing” with mid-income and luxury residential projects likely to remain resilient for the remainder of 2022.
Despite headwinds like rising interest rates and high inflation rates, there are still a few factors that will prop up the residential segment’s recovery including improvements in consumer and business sentiment, flexible payment terms, economic recovery, and the projected 4 percent growth in remittances sent by Filipinos working overseas.
An opportune time
As such, now may be an opportune time to invest in real estate, as it can offer a haven for your hard-earned savings. Betting big on these assets may enable you to cash in on numerous earning opportunities whether over the short- or long-term, and especially once the Philippine economy has fully bounced back from the pandemic.
After all, real estate’s resilience is anchored primarily on the fact that it’s a tangible asset that you can use for your own needs, hold, resell or lease out, and whose values will appreciate over time.
Overseas Filipino workers (OFWs) stand to gain from investing in real estate, with the return of jobs abroad and with the improvement in their purchasing power on the back of a stronger dollar. As it is, OFWs are already helping drive demand for residential properties across segments—from house-and-lot to condominium units.
Colliers Philippines even noted in its latest report that it expects the steady inflow of OFW remittances, along with improving consumer and business sentiment, to prop up residential property prices by 3.7 percent this year.
Discernment is key
But as with any venture or investment, discernment is key. OFWs will only be able to maximize earning opportunities in real estate if it entrusts its hard-earned funds with a reliable, trustworthy developer like Avida Land.
With its over 30 years of expertise and experience in building quality, sensible homes in masterplanned communities, Avida Land presents an impressive array of investment choices for OFWs on the lookout for properties they can give to their families, retire to, or sell in the future.
Today, the mid market residential arm of Ayala Land has an extensive portfolio of more than a hundred house-and-lot and condominium projects in the capital region as well as in other city centers from Pampanga to as far south as Davao City. These communities are often part of the much bigger estates by Ayala Land, enabling residents to be within close proximity to essential establishments, offices, business and leisure hubs as well as other points of interest.
That Avida Land has remained one of the market leaders in its segment can only be expected. Its growth since its inception has been unstoppable, with the last three decades marked by numerous milestones and a series of firsts in its segment.
That thrust for breaking records continues even to this day with Avida Land aptly showing how its agility, resilience, and flexibility allowed it to quickly pivot during the most challenging times—from the Asian financial crisis, global financial crisis, to the ongoing COVID-19 pandemic.
As seen over the last two years, Avida Land has learned to evolve faster, adapting to today’s many changes. During the pandemic for instance, it was one of the first realty firms to hold online conferences, set up virtual tours, conduct digitally enabled trainings, and deploy contactless connections among buyers and agents—all while helping ensure that its employees, residents in existing developments, and other stakeholders are safe.
This is why Avida continues to thrive and contribute to the growth of Ayala Land. Because of its agile organization, it was able to expand its footprint, develop better communities, and transform more lives. And by constantly collaborating to deliver its promise of sure, secure and sensible homes to the growing middle class, this trusted real estate brand has created more ways to connect with current and potential customers as well as its employees.
All these efforts have laid down a solid foundation that makes Avida well positioned to withstand future headwinds.
Indeed, Avida Land proves to be a sound investment choice with its roster of quality, sensible developments in strategic key centers, its pioneering efforts to deliver remarkable firsts for Filipino homebuyers, a solid and reputable foundation that mirrors the excellence of its parent firm Ayala Land, and an expertise skillfully honed by more than three decades of experience.
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