Owning a home just getting more attractive

With economic growth unlikely to see significant improvement from last year’s 5.8 percent, local property developers and their sales force believe they could still make significant strides.

Their outlook remained positive despite the uncertainties the upcoming national elections bring; the fluctuating price of oil and geopolitical tensions in various parts of the world that could impact on overseas Filipino cash remittances; and the worsening dry spells in several parts of the country.

“We believe more and more Filipinos will still be hunting for well-built homes because this is one of the smartest financial decisions they can make amid these uncertain times. It is inflation—protected and this is one physical asset that doesn’t disappear,” said PA Properties chair Romarico Alvarez, during a recent awards night for top sellers and 2016 sales kickoff.

Alvarez urged his sales force to continue to let their clients recognize the benefits of home ownership.

“It is important for our sales force to remind their prospective buyers that they will be spending smarter in new homes as rent payment only goes into the pocket of landlords. This is why as developers, we should continue to provide projects—whether mid-rise condominiums, self-contained communities with single-detached or -attached units—that are worth spending their hard-earned money on,” he said.

Ongoing projects

PA Properties has ongoing projects in Barangay Balibago, Sta. Rosa, Laguna (San Jose Residencias); Barangay Tagapo, Sta. Rosa City, Laguna (St. Joseph Richfield); Sto. Cristo, City of San Jose del Monte, Bulacan (NuVista San Jose); Barangays Antipolo del Norte and Anilao, Lipa City, Batangas (NuVista Lipa); Barangay Burol and Laguerta, Calamba City, Laguna (St. Joseph Homes Calamba); Barangay Gulod, Cabuyao, Laguna (St. Joseph Homes Cabuyao); Barangay Paliparan II, Dasmariñas, Cavite (St. Joseph Ridgeview); and Barangay Balibago, Sta. Rosa, Laguna (Ciudad de San Jose).

PA Properties president Jonathan Lu added: “We should let our clients realize there is a sense of pride in home ownership. Home ownership has emotional benefits and owners are more likely to be invested in the local community and develop interpersonal relationships that create a reliable support system than those who just rent.”

Even if remittances from overseas Filipino workers grow at just half the pace this year, as expected by the monetary authorities citing prolonged slump in global oil prices, Lu said this would only make buyers even more prudent in choosing where they would put their hard-earned money on.