Overseas Filipino Workers (OFW) are one of the most enthusiastic groups of home buyers in the Philippines. But what type of property should these modern heroes buy? This is a very tough decision and one that will impact your life and finances for years to come.
Here is a list of the top types of properties perfect for OFWs looking to make a real estate investment.
Condominiums
Modern and accessible, condominiums are very popular with millennials thanks to a live and play atmosphere. OFWs might also find condominiums enticing. Condominiums can provide rental income for OFWs or serve as a place for their family to live.
Beachfront houses
Who doesn’t want a vacation house in a tropical location? Nothing says successful quite like a beautiful home located in one of the most beautiful destinations in the Philippines. It can also work as an investment since vacation homes are always a top rental option during the summer and Christmas seasons.
Pre-selling condominium
Pre-selling condominiums are affordable with low introductory prices. In some cases these units cost less than 30 to 50 percent of completed condominiums. The value of pre-selling condominiums is that it appreciates in value from the time that it’s built. You also have the freedom to choose which floor you want to own and take advantage of the amenities.
Commercial lots
Want to invest in a business? Buying or renting a commercial lot can help you jump start the business of your dreams. Choose the right location and you’ll surely get to the right start. Good locations such as Makati and Quezon City are hard to come by so be careful when choosing where to put up your business.
