Noli Hernandez, property giant Megaworld Corp. senior vice-president for sales and marketing, told Hong Kong News that investing in real properties is not only lifesustaining for OFWs, but also incomegenerating.
“From interviews I’ve done with (OFWs), I think one of their biggest problems would be that they don’t know where to put their savings, if they have savings at all. So we try to provide that vehicle for them to invest,” he said.
OFWs are advised purchase a condominium unit or any real estate property while working abroad.
“They can earn from rental payments with it… More often than not, they make money [overseas] for a couple of years, five or 10 years… And when they start settling down here, they end up with nothing and when they reach old age they have nothing to support them,” Hernandez said.
He said the value of a purchase can appreciate from 5 to 10 percent a year depending on a property.
SM Development Corp. marketing head Nita Claravall, for her part, said investing in real estate is also equivalent to fulfilling a lifelong wish.
“If you were to look at their wish lists, most studies that cover OFWs, [it says that] owning their own house whether it’s a house or a condo is always up there, together with being able to give their children a good education,” Claravall explained.
Continue reading at Hong Kong News
