Foregoing the comforts of home and the physical company of their friends and family, Filipinos working overseas are indeed modern-day heroes. Apart from making a living to meet their loved ones’ needs back home, their efforts abroad also contribute greatly to the Philippine economy.
Through their regular remittances, OFWs continue to fuel domestic spending and consumption and also factor significantly in local investment. Among the most common investments they make are on properties for sale in the Philippines, as a shared goal among many OFWs is to eventually buy their own home.
Searching from abroad
Unfortunately, the ongoing Covid-19 pandemic has prevented some Filipinos overseas from being able to come back and pay their families a visit, as well as take trips to view homes for sale in the Philippines in person. The travel restrictions, however, have not dampened their interest in investing in real estate.
Here at Ohmyhome, our research has shown us that Filipinos based abroad have continued taking a closer look at cross-border investment. Since launching in September 2020 our platform continues to receive a significant amount of traffic and inquiries from property seekers overseas aiming to buy local houses and condos for sale.
Paused market
Another unfortunate circumstance stemming from the Covid-19 pandemic has been how some real estate projects’ completion has had to be put on hold. Be it due to the revolving community quarantines imposed by the government or having to deal with the economic ramifications of the crisis, some new homes were simply not completed as scheduled.
As a result, some OFWs have had to wait a little longer for the turnover of their pre-sold homes, while others delayed investing in the Philippines because of the limited availability of brand new properties for sale. The pause on the market had meant unmet property demand from Filipinos overseas who, according to a report, had previously spurred growth in their local economies by sending as much as $30 million worth in remittances in as little as 11 months.
Providing worthy investment options to OFWs
Touting over 50 housing projects all over the country that is backed by its formula of “Affordability (Mura) + Quality (Dekalidad) = A beautiful BRIA Home for Every Filipino”, Bria Homes has positioned itself as the developer OFWs can turn to at this time for viable real estate investment options. Its projects being in multiple locations nationwide gives OFWs the choice to not only invest in property but also actually do so in or close to their provincial hometown.
This prospect has proven appealing to Filipinos who had been overseas for an extended period of time. As they look forward to making up for the added lost time caused by the pandemic, they will have a brand new home that will be ready for them by the time they get back and is easy to travel to and from by their family and friends.
While considerably affordable, another aspect about owning a Bria Home that OFWs and all other buyers can look forward to is that what they have is a full-on house and lot that offer substantially more space than a condo. Space that they can decorate or renovate how they see fit and is comparably more valuable in the market because it includes an exclusive lot.
Along with a place to call their own upon their return, Bria Homes’ ready-for-occupancy (RFO) houses provide a reliable, low-maintenance source of income with very little risk for OFWs who opt to buy then, at least for the time they are abroad, lease the property out. By being in different areas in the country, a Bria Home can be rented out for the short term to visitors of the province it is in, or for the long-term to tenants who don’t see as many home options as they do in bigger cities.
A subsidiary of Golden MV Holdings Inc., one of the largest real estate companies in the country, Bria Homes projects is rising all over the Philippines. Some of their projects include Bria Sta. Cruz in Santa Cruz, Laguna, Bria Homes Flats Mactan in the island of Mactan, and Bria Magalang in Mabalacat, Pampanga.
Interested in buying a new Bria Home? Visit Ohmyhome for the best and latest homes for sale in the Philippines, or download the official Ohmyhome app to access the newest property listings at your convenience on your mobile device!
Written by Braulio Giron Jr
Source: Ohmyhome
