Filipinos Real estate investments at all-time high
An increasing number of Filipinos in the UAE are starting to value the need for savings and investments through real estate, with industry leaders welcoming as high as 20 per cent year-on-year increase in sales of their properties amongst Filipino buyers in the UAE.
The Philippine property market is expected to achieve double-digit growth this year, with real estate values seen scaling all-time highs across all sectors, according to a report from Leechiu Property Consultants.
The Philippine government’s ‘Build. Build. Build program’, President Duterte administration’s medium-term goal to effectively usher in the Golden Age of infrastructure in the Philippines by raising the infrastructure spending from 5.4 per cent of the country’s GDP in 2017 to 7.3 per cent by the end of 2022, supports leasing and selling opportunities in real estate investment particularly in growth centres near the subway stations in Quezon City, Bonifacio Global City and Taguig City. A growing number of UAE-based Filipinos are taking advantage of investing in the Philippines because of this.
Real estate companies are taking advantage of these windfall in terms of overseas Filipinos who eye to purchase properties in the Philippines. This is also the trend observed by the organisers of Philippine Property and Investment Exhibition (PPIE), the largest Philippine property and investment event in the region which will be back in April 26-27, 2019.