Why Not in the Philippines?


by Don Magsino - Date: 2007-01-21 - Word Count: 580 Share This!

According to an Ibon research, an estimated 3,000 Filipinos leave the country everyday to find jobs abroad. The scarcity of jobs is already a sign that all is not well and that the economy lacks an internal dynamism that is able to productively harness and employ the Filipino workforce. Many talented Pinoys don't have a choice but to be attracted to the "greener pasteur" that major developed countries offer. Due to a higher exchange rate of foreign currencies against Philippine peso, Overseas Filipino Workers (OFW) have the most purchasing power to acquire properties and put their hard-earned money into; wisely invest it to something which will give them a higher financial gain.

Many foreigners believe that the Philippines is a great destination and a great place to retire. Filipinos are generally, polite and hospitable. Aside from this, transport is cheap, food is good and shopping is a delight, English is widely spoken so communication is great. According to Yahoo! Travel: "If you believe that the most important living environment and travel experience is to learn about people, make friends and be with great company, then the Philippines is your country."

No matter how many Filipinos leave their country, their values of closer family ties and being so regionalistic remain. They want to be intact and look after their elderlies at home. They buy properties mainly for the benefit of their families to enjoy a bit quality of life. This what makes these people unique compare to other cultures. They don't mind the hardships of life in a foreign land. It is their pleasure to see their loved ones proud of what they do and what they give.

Based on my experience, property investment, with commitment, discipline and preparation to take a bit of risk, will provide a higher return on investment. Housing is always a rewarding investment which gives someone a sense of pride and ownership. Property is tangible and you know it is there, you can see it and you can feel its value. Unlike other form of investments which is unseen and you need a lot of info to know the name of the game.

So why chose property? Why not invest in stocks and shares or start a business? The main reason is that property will not go out of fashion or become obsolete like services and products. Shelter is a basic necessity for survival of us all and the demand for it is always guaranteed.

In economics, if the demand is greater than supply, it dictates prices to go up. If there is a food and mouth disease on poultries, meat vendor will still sell (supply) meat but people won't buy (demand) it. Prices tend to go down due to a lower demand. Should the 'red tide' a sort of toxic in the sea that affect fish occurs, the demand for meat will then increase and so the price. All things are parallel. This is the case on property. Due to a rapid expanding population of Filipinos which estimated to hit the 100 million mark in 2010, fragmenting families, an increasingly mobile workforce and major infrastructure mandated by the government, the demand for properties will always be greater than supply. Property prices keep increasing which give investors something to smile about.

Philippines is still a sound investment to put your money into. It helps your family, our economy and increase your chance to enjoy life. When a property is set up properly, you just sit back and watch the money roll in.


Related Tags: money, wealth, prosperity, investment, real estate, invest, philippines, ofw

Don Magsino MBA Ateneo De Manila University Professional School of Business

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