spot_img
27.6 C
Philippines
Friday, March 29, 2024

Ohmyhome launches feature allowing OFWs to ‘buy homes from overseas’

- Advertisement -

Purchasing properties in the Philippines used to be a complicated process—especially for prospective buyers and investors residing in other countries. For instance, overseas Filipino workers seeking to buy a house for their families were often daunted by the tedious paperwork involved. Similar concerns deterred potential property investors that are based abroad.

Ohmyhome launches feature allowing OFWs to ‘buy homes from overseas’
With the government’s heightened optimism on economic recovery, Ohmyhome encourages OFWs and other overseas investors to explore investment opportunities here.

All these challenges are now addressed by industry game-changer Ohmyhome’s recently launched ‘Buying from Overseas’ page, which is specifically primed to help users abroad initiate their buying journey. The new service will make the homebuying process straightforward and simple for OFWs who want to purchase properties in the Philippines while allowing overseas property investors to explore opportunities here.

According to Ohmyhome, users simply need to visit the “Buying from Overseas” page available on its website and chat with one of Ohmyhome’s agents to begin their housing journey. Interested homebuyers or investors will then be guided through all the steps of the process.

The page comes at a time when data from Ohmyhome research found that Filipinos based abroad are taking a closer look at cross-border investment. This may be spurred by the government’s heightened optimism in the country’s economic recovery. 

Finance Secretary Carlos Dominguez III and his economic team projected a gross domestic product growth of 6.5 percent to 7.5 percent in 2021.

- Advertisement -

The Philippines was likewise included in the 42 most improving economies in 2018 and 2019, according to the World Bank Group, a family of five international organizations known as the largest development bank in the world.

In 2020, net equity capital investments climbed 32.9 percent to $107 million in 2020 from $81 million in 2019, with the bulk of the equity capital placements invested mainly in real estate, manufacturing, insurance, and scientific and technical industries.

Finally, the Department of Trade and Industry encourages investment in the booming sector of information technology and business process management which drives office leasing and corporate housing.

Ohmyhome is also optimistic that with a positive outlook for the Philippine economy in 2021 and encouraging feedback from foreign and real estate investments in the past year, prospective property investors abroad will take advantage of the current economic climate and decide to invest in Philippine real estate now. 

Providentially, Ohmyhome’s “Buying from Overseas” page will make the process simpler and more efficient.

Among the first who are expected to benefit from this service are OFWs who have long yearned to buy a home in their country as they toil in Dubai, Doha, Abu Dhabi, Riyadh, Canada, Australia, Singapore, and Japan. These OFWs and investors may now look forward to the remarkably efficient home buying experience that awaits them.

Ohmyhome works directly with developers to find the best offers and secure the best prices in the market. The proptech company will then provide transparent property development updates once the purchase is made.

Ohmyhome also details the journey that prospective buyers will go through when availing of services through the “Buying from Overseas” page.

Highly trained agents will assist interested investors and consult with an investment specialist to provide buyers with the current market analysis and shortlist properties that meet their needs. Next, through valuation, the property’s market value will be analyzed to ensure that buyers are securing properties at the right price.

After the purchase, Ohmyhome will guide homebuyers through the next steps of the property journey such as inspection, turnover and move-in. Even after move-in, Ohmyhome will continue to assist clients in other possible home services.

OFWs will be happy to know that properties from top real estate developers such as Avida of Ayala Land, SM Development Corp. and Vista Land International Marketing Inc. are available in the Ohmyhome application and website.

Ohmyhome’s “Buying from Overseas” page can also be visited by foreigners who are interested in owning property in the Philippines. 

Non-Filipino citizens may buy condominium units via Ohmyhome, as local laws allow for condominium purchases by foreigners. Moreover, there are provisions in the constitution that allow for foreigners’ ownership of real estate in the country.

Additionally, the proptech platform asserts that prospective buyers from Malaysia and Singapore enjoy added confidence as Ohmyhome have offices in these countries.

Buying from overseas is an attractive option at this time when Philippine property developers are offering convenient payment schemes. With Ohmyhome standing ready to assist customers, it’s all systems go for property seekers, wherever they may be.

- Advertisement -

LATEST NEWS

Popular Articles