Top 3 Reasons Why OFWs Should Buy a Condo this Holiday Season

The Philippines has the world’s longest Christmas celebration – this is still undeniably true. As soon as the calendar turns to the much-anticipated “ber” months, we already start hearing familiar yuletide music. We also see establishments and public places decorated with traditional parols and other ornaments. This is also the season when our hardworking heroes, our Overseas Filipino Workers, return to our homeland to celebrate with their families and enjoy the fruits of their labor. For some OFWs, should they not be able to go back home for vacation, this is the time that they send balikbayan boxes filled with gifts for their loved ones.

The past two Christmases we had last, 2020 and 2021, were different from our usual celebrations, as we were still at the height of the pandemic during that time. Lockdowns and safety protocols were strictly in place, limiting our gatherings with relatives and friends. Many Filipinos, particularly the OFWs, were also reluctant in spending due to economic uncertainties.

But this 2022, as the impact of COVID-19 slows down and the Philippine economy recovers, can we all truly look forward to a merrier Christmas? How about the risks of inflation and the unstable USD-PHP exchange rates, will it still be a good time to spend money and invest?

For our dearest OFWs, we are listing down the top three reasons why buying real estate properties, such as condominium units, will be a timely move for you this holiday season:

1. You get the best value for your hard-earned money.

The apparent weakening of the Philippine Peso against the US Dollar may adversely affect some businesses that are dollar-dependent on their purchases and operations. But for dollar-earning OFWs, this is an opportunity that you should take advantage of. Recently standing at PHP 56 level to 1 USD, OFWs gain a stronger purchasing power when you are buying any products, particularly real estate properties, here in the Philippines as these become more affordable for you.

For instance, a pre-selling executive studio at Empire East Highland City in Pasig-Cainta, which can be availed for as low as PHP 6,000 monthly, will only cost an OFW approximately USD 105.26 (based on the exchange rate as of September 7, 2022, where USD 1 = PHP 57). Unlike when the exchange rate is USD 1 = PHP 55, your amortization will be estimated at USD 109.09. The biggest advantage of gaining the best value for your money’s worth is when you pay a huge sum for a down payment or you settle the total contract price of the condo unit in full amount at this time that, you have stronger purchasing power.

2. You can further help the Philippine economy.

The figures for various economic indicators have been very positive recently. For instance, according to the report of the Bangko Sentral ng Pilipinas, the amount of money remitted by OFWs to their families here in our country grew to 4.4% in June 2022 compared to the same period last year, the highest level in the span of six months. This influx of remittances which amounted to USD 3.06 Billion, is expected to continue over the next few months, especially since the holiday season is here. Economists are also expecting to surpass the USD 3.3 Billion mark remitted last December 2021.

Consumer spending drives the economy. Should your household members be more empowered by your higher dollar remittances, especially this Christmas season, we would all be enjoying a healthier and stronger local economy. You have once again proven that you, OFWs, are our modern-day heroes!

3. Real estate remains to be your best investment.

Aside from buying gadgets, clothes, accessories, or even food, that your family and loved ones can enjoy for a short period of time and whose values are depreciating fast, you should think of the best and ideal gift for them. With a real estate property such as a condo unit, you will never go wrong. If you desire to provide them with a convenient and on-the-go urban lifestyle, you can reserve a 1-bedroom or 2-bedroom suite at The Paddington Place near Ortigas CBD and MRT-3 Shaw Boulevard Station. If a sustainable township lifestyle is what you yearn for, the 22-hectare Empire East Highland City is the perfect choice for you. You also have the investment option of buying condo units and having them resold at a higher price when it becomes RFO or ready-for-occupancy, or earning your ROI through rental or leasing.

Both in the pre-selling stage, these premier communities of top-notch developer Empire East give you the opportunity to avail your luxurious condo properties at an affordable price with low monthly payments and huge discounts of as much as 5% up to 15%, exclusively offered only during this holiday season. As an intelligent homebuyer and investor, you should take advantage of these limited offers and promo packages so you can maximize enjoying your hard-earned money from working abroad.

Do not let this exciting holiday season simply pass by without giving yourself and your family the best gift of a home or a property investment. Talk to our Real Estate Salespersons today and explore the irresistible opportunity of investing in your own condo property under the ongoing sales promo dubbed as A-4-DABLE Holiday Luxury Gifts, where you can avail 4 gifts for your new home, such as:

1. 5% up to 15% promo discount
2. Low monthly payment of 6,000 for a studio, 9,000 for 1BR, and 15,000 for 2BR at Empire East Highland City
3. Low annual lump sum
4. Fresh inventory of units

Connect with Empire East through our social media accounts, or email us at inquiry@empire-east.com for more information.

Reference:https://www.philstar.com/business/2022/08/16/2202859/ofw-remittances-44-6-month-high-june