Filipinos are innately hardworking people. We work, we earn, and invest in the hope of becoming financially stable. However, saving up today has not come as easy as before given the current economic climate.
While many of us were affected by the COVID-19 pandemic, our OFWs are probably one of the heavily affected. This is why, as an OFW, it is always a good time to start looking for new ways to increase your income despite your current salary, and real estate is always a good place to start.
By owning a piece of real estate, you can be assured that regardless of what you decide to do with it, you will be getting your money’s worth. This is because real estate values appreciate over time. Regardless if you decide to rent out your property or for residential use, the value of the piece of land you own will eventually appreciate, allowing you to eventually sell your property at a higher price than when you initially bought it.
The most popular form of real estate investment often used by businessmen and other OFWs are through the form of home rentals. In this article, we will share with you the different types of rental businesses that you can choose from for your next real estate investment.
In key cities such as Metro Manila, condominium rentals are highly in demand as it is convenient for people who want to live near the place they work or go to school. Students and young professionals alike have opted for condominium rentals in the central business districts not just to be closer to offices and universities, but also to be near social establishments and to save on transportation costs. For this reason, when investing in a condominium unit, consider the nearby establishments and conduct more research on the nearest universities, work establishments, or hospitals in the vicinity. The presence of nearby establishments will allow you to eventually rent out your unit faster or even resell your unit to another buyer after a few years.