CLOSE to 200 houses were sold in a four-day series of roadshows in Dubai and Canada last month, which indicates a strong preference for real estate as an investment choice among overseas Filipino workers (OFWs), a Cebu-based property broker said. Filipino Homes founder Anthony Leuterio said that OFWs have realized that buying property in the Philippines is a sound investment with the potential for great returns. “OFWs, especially in Dubai, are now ready to buy units as an investment since most of them are not going to settle down there,” said Leuterio.
Dubai was the first destination for Filipino Homes’ property roadshow this year in partnership with Cebu Landmasters Inc. (CLI). A separate team also went to Edmonton, Canada last month. The Filipino Homes team showcased the popular “go-to” places of locals and foreign tourists in the Philippines. It highlighted CLI’s house and lot projects in key destinations like Bacolod, Cebu, Davao, Dumaguete, Iloilo, and Cagayan de Oro.
End-use and investment
There are more than 700,000 Filipinos who live in the United Arab Emirates, of whom 450,000 live in Dubai, and they account for 21.3 percent of the population of Dubai. Filipinos in Canada, on the other hand, account for 2.5 percent of the total population. The Philippines is still the largest source of immigrants to Canada. According to Leuterio, the booming real estate industry in the Philippines attracts both locals working abroad who want to own a unit for end-use and investment, and foreigners who want to retire here.
The Philippines landed top four out of 17 countries where expatriates lead the happiest lives, according to a new survey by InterNations, a network for people who live and work abroad. “Those with families rank the country (The Philippines) highly, thanks to a friendly attitude toward children and low cost of living,” said the survey.
The company asked 14,300 people living overseas, representing 174 nationalities and living in 191 countries or territories, to rate 43 aspects of life abroad on a scale of one to seven. One of the sub-indices is personal happiness. Other countries included in the survey were Ecuador (fifth), Mexico (third), Malta (second), and Costa Rica (first).