{"id":568,"date":"2020-08-04T09:24:59","date_gmt":"2020-08-04T09:24:59","guid":{"rendered":"http:\/\/ppie.ae\/?p=568"},"modified":"2020-08-04T09:24:59","modified_gmt":"2020-08-04T09:24:59","slug":"why-many-ofws-in-their-20s-get-their-own-condo","status":"publish","type":"post","link":"https:\/\/ppie.ae\/ppie_old\/2020\/08\/04\/why-many-ofws-in-their-20s-get-their-own-condo\/","title":{"rendered":"Why many OFWs in their 20s get their own condo"},"content":{"rendered":"

According to property experts, the age group of Overseas Filipino Workers (OFW) now who are investing in properties such as condo units is getting younger, unlike 10 years ago.
\nThe Filipino Times talked to stakeholders and they said the younger OFWs are becoming more educated now about investing. Most of them are even registering for events where they can get more investment knowledge and opportunities, such as the Philippine Property and Investment Exhibition (PPIE)\u2014the biggest, longest running and most trusted Philippine business and investment forum in the Middle East\u2014via:\u00a0http:\/\/events.ppie.ae\/register\/<\/a>
\nManuel \u201cManny\u201d Arbues II, Ayala Land International Sales regional head for North America and the Middle East, said that most of today\u2019s OFWs are children of the previous generation of OFWs themselves, who, through hard work, were able provide for their offspring\u2019s fundamentals for life, education among them.
\n\u201cDito sa UAE, yung mga buyers natin are getting younger and younger. A lot of them are in their late 20s,\u201d Arbues said, adding that retirement money by way of passive income and a small business always top the reasons why they are investing in real property.
\nThe previous batches of OFWs were mostly construction workers and domestic helps who could not have thought of putting their money in condominiums because they rightfully placed their priorities on their children\u2019s education, Arbues said.
\nThis, in turn, caused their children to be employed in better positions and ergo, make good money, he explained.
\nThe downside to this, said Arbues, is that the OFW parents were not able to save for their own retirement.
\n\u201cAnd so, they learn from their parents. Natuto sila that they really have to secure their future,\u201d Arbues said.
\nMa. Teresa A. Tatco, Avida Land assistant vice president for corporate marketing and rental leasing, meanwhile said, the trend among young OFW buyers is to secure their own property first then get another one for income generation.
\n\u201cThey buy their own home. Then, once natapos nang bayaran, they get another unit naman for passive income,\u201d Tatco said.
\nShe said OFWs in the older age bracket are now making haste to invest in real property to make up for lost time.
\n\u201cThey really want to invest now kasi before ay padala lang ng padala,\u201d Tatco said.
\nArbues said Ayala Land had a 173% year-on-year sales growth in the UAE, citing the company\u2019s residential business group report.
\nREAD ALSO:<\/strong>\u00a0Meet the OFW couple with many properties who believe it\u2019s never too late to invest<\/a>
\nMindset<\/strong>
\nBack in the earlier days of the Filipino diaspora, there were not too many OFWs who were into investing in real property, said Vince Lubrin, Robinsons Land International group area manager for Middle East, North America and Canada.
\n\u201cDati, hindi pa ganun ka-educated mga tao pag-dating sa usaping investment. Ngayon, we have a strong base of middle-class professionals na ang karamihan ay mga OFWs na kayang bumili ng condominium for investments,\u201d Lubrin said.
\nAdded Daisy Bayan, Greenfield Marketers UAE business development manager: \u201cStatistically, marami nang nagiging open ang isip sa pag-iinvest sa condo or property.\u201d
\nBayan, who has been in the property industry for some 10 years too, having done the rounds in at least three major developers in the Philippines, said: \u201cLumakas ang demand kaya dumami ang supply at mga developers na rin.\u201d
\nGreenfield Marketers UAE is an affiliate of Greenfield Development Corp. (GDC).
\nFinancial literacy<\/strong>
\nRandell Tiongson, a renowned financial literacy advocate, said there is growth in the number of OFWs buying properties whether for investment or personal use.
\n\u201cMay increased capacity. Gusto nila ng passive income. Ang savings level at investment level ay umaakyat,\u201d he said. \u201cNamumulat na sila na kailangan nilang mag-invest; natuto na sila ng financial literacy. Yung iba naman na-impluwensiyahan ng kaibigan na nag-invest na dati at kumikita na sa pinaparentahan condo, kaya tuloy gusto rin nilang gumaya para magkaroon rin ng sariling condo investment.\u201d
\nREAD ALSO:<\/strong>\u00a0More OFWs upbeat about investing in PH properties<\/a>
\nAggressive marketing and a robust property sector<\/strong>
\nTiongson said real estate companies continue to market because there is a potential. \u201cKapag walang benta hindi naman magma-marketing,\u201d he said.
\nAs Bayan said, the demand actually went up and so supply caught up, likewise did the number of developers most of which, she said, have also put up satellite offices in countries with the most concentration of OFWs like the UAE, and started participating in property exhibitions PPIE organized by New Perspective Media (NPM).
\nREAD ALSO:<\/strong>\u00a0PPIE holds comprehensive seminars on property investments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

According to property experts, the age group of Overseas Filipino Workers (OFW) now who are investing in properties such as condo units is getting younger, unlike 10 years ago. The Filipino Times talked to stakeholders and they said the younger OFWs are becoming more educated now about investing. Most of them are even registering for […]<\/p>\n","protected":false},"author":1,"featured_media":569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/comments?post=568"}],"version-history":[{"count":1,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/568\/revisions"}],"predecessor-version":[{"id":570,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/posts\/568\/revisions\/570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/media\/569"}],"wp:attachment":[{"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/media?parent=568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/categories?post=568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ppie.ae\/ppie_old\/wp-json\/wp\/v2\/tags?post=568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}