Can’t decide between house and lot, condo, or hotel? Experts from DoubleDragon Development Corporation and Sta. Lucia Inc. have laid out investment options for OFWs which they can purchase for as low as Dh500 during the 8th edition of Philippine Property and Investment Exhibition (PPIE).
Janice Original, Sales Representative of DoubleDragon Development introduced not only an affordable option but also also an income generating investment through their latest development named Hotel 101.
“Currently, we have Hotel 101 Manila and Fort. We have also available in Davao and Cebu, Mactan airport. These locations are conducive since we have a lot of travelers.” Said original.
Apart from the in-demand Hotel 101, DoubleDragon also have residential properties and socialize housing.
On the other hand, the Chief Executive Officer of Sta Lucia Land, Inc. Liezel Magpoc shared that for first-time investors, she highly recommends investing in a lot.
Liezel Magpoc, CEO of Sta. Lucia Inc.
“If you can start with a lot, start with a lot. If you start with a house and lot first, mas mataas na talaga ng downpayment mo since it’s not socialize at least mga nasa 3 million ‘yun, not unlike kapag nagstart ka sa lote, you can buy for as low as 500 dirhams per month,” said Magpoc.
She also advised that once the payment has been completed, the lot owners can not use the title as a collateral for bank financing. They can now use the money to put up their dream home.
For those who are looking for vacation houses or investments for recreation, Sta. Lucia also mentioned several other properties.
‘We have in Cebu, Arterra, which is at the tip of Punta Enganyo island and we have residential subdivisions with sea views, we also have in Batangas and Davao. Davao is a beach place, you are 10-15 mins away from beach,” said Magpoc.
Likewise, DoubleDragon also has several developments near the fascinating views or sandy beaches of the Philippines.
“We have developments which are 15 minutes away from beaches. Hotel 101, if you purchase, you are not limited to using the facilities in where you bought it. You can use Hotel 101 in Davao, Palawan, Bohol and soon in Japan,” said Original.
Janice Original of DoubleDragon Development Corporation
Vince Ang highlighted that with investing in Hotel 101, even if you own just in one location but you can use all the network.
“Start somewhere, choose one. But at the end you can use it outside Manila. Here in PPIE, you have lot of options like tourists destination investments for as low as 500 dirhams,” said Ang.
Changing perspective
In the end of the discussion, Magpoc encouraged OFWs to change their mindset on choosing the location of their target property.
“One common notion of Filipinos is, for example, if I am from Cebu, I have to invest in Cebu only. I have been in the real estate industry for 30 years now. Investment is where you can afford. If you will wait a moment where you say you can already invest in Cebu, that time may not come. We’ve been selling these properties abroad. We’re proud t say hat the buyers of these properties are not from this cities. But because that’s the property that they can buy,” said Magpoc.
Once the property value appreciates, OFWs can then sell their initial investment with a guarantee of an appreciated money.
Speaking of location, Original also shared various other property locations of DoubleDragon.
“We have available properties such as one in Ilo-ilo, we have in Leyte, we also Skies Suites. If you have children who are looking into schools we have one in Taft,” said Original.
She also highlighted the fact that having a condotel allows you to also generate income and eventually help with the bank financing.
“There are so many ways to pay for the bank loan because it is an income generating investment. It can help you pay your monthly amortization sa bank. You’re only paying the downpayment and do through bank financing without spending any money in your pocket,” said Original.
Budget friendly investments
During the discussion, the two panelists also emphasized that interested home buyers only need to look, ask questions to find the property that best fits their budget.
“We can offer you almost 300 options based on your budget. We can explain to you every property, every type of property. And we can help you decide which property is goo for you. We want to make sure na may pinuntahan yung pinagtrabahahunan mo. I’ve seen OFWs around the world and nakita kong talagang pinaghihirapan nila yan. So we want to make sure to make these properties very affordable. Please invest on things on assets that earn. It’s a good investment when it earns,” said Magpoc.
As an example, Magpoc relayed that a typical house and lot has at least 10% yearly escalation on the investment. If you are making 10% in 5yrs, that is at least 50% already of your initial investment.
“I agree with everything Liezel said. Properties in the Philippines never go down. I also want to reiterate the message in our previous speakers said which is know your purpose. Ano ba ang purpose of purchasing? Is it something where you want to live or is it something na gusto mong kumita buwan buwan? Para ma-asess mo bago purchasing , make an informed decision before purchasing any property,” said Original.
In the end, they encouraged everyone to not be afraid to ask questions and begin investing with what they can, even if it may be as low as 500 dirhams per month.
