Purchasing property in the Philippines used to be a difficult process, particularly for foreign buyers and investors. Overseas Filipino workers (OFWs) trying to buy a home for their families, for example, were often discouraged by the extensive paperwork needed. Potential foreign property buyers were deterred by similar concerns.
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 certainly make the home buying process straightforward and simple for OFWs who want to purchase properties in the Philippines while allowing overseas property investors to explore opportunities here.
Users can launch their housing journey by visiting Ohmyhome’s Buying from Overseas page and chatting with one of the company’s agents, according to the company. The phase would then be walked through with interested homebuyers or investors.
The Buying from Overseas page is being launched at a time when data from Ohmyhome research shows that Filipinos living abroad are becoming more involved in cross-border investment. This may be fuelled by the government’s renewed faith in the country’s recovery. For example, in a December 2020 media briefing, Finance Secretary Carlos Dominguez III and his economic team forecasted GDP growth of 6.5 percent to 7.5 percent in 2021.
According to the World Bank Group, a family of five international organizations recognized as the world’s largest development bank, the Philippines was also among the forty-two most improving economies in 2018 and 2019.
In addition, from US$81 million in 2019, total equity capital investments increased by 32.9 percent to US$107 million in 2020, with the majority of the equity capital placements going to real estate, retail, insurance, and scientific and technological industries.
Finally, the Department of Trade and Industry promotes investment in the burgeoning information technology and business process management (IT-BPM) market, which drives office leasing and corporate housing.
With a positive outlook for the Philippine economy in 2021 and encouraging input from international and real estate investments in the previous year, Ohmyhome is hopeful that prospective property investors from around the world can take advantage of the current economic climate and decide to invest in Philippine real estate now. Thankfully, Ohmyhome’s Buying From Overseas page would make the process go more smoothly.
OFWs who have long wished to buy a home in their home country while working in Dubai, Doha, Abu Dhabi, Riyadh, Canada, Australia, Singapore, and Japan are expected to be among the first to benefit from this service. These OFWs and buyers can now look forward to a surprisingly fast and painless home buying experience.
Ohmyhome works directly with developers to recognize the best deals and negotiate the best prices. Following the acquisition, the proptech company would include straightforward property development reports.
Via the Purchasing From Overseas page, Ohmyhome also outlines the path that prospective buyers will take while using their services.
First, its professionally qualified agents will support potential investors and work with an investment expert to provide buyers with current market research and a shortlist of properties that suit their requirements. The property’s market value will then be assessed by appraisal to ensure that customers are getting the best deal possible.
After the purchase, Ohmyhome will guide its 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 its 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 Corporation (SMDC), and Vista Land International Marketing Inc. are available in the Ohmyhome application and website.
Foreigners interested in owning property in the Philippines can also visit Ohmyhome’s Buying From Overseas website. Non-Filipino citizens can purchase condominium units through Ohmyhome, as our laws permit foreigners to purchase condominium units. Furthermore, the constitution contains provisions that enable foreigners to own real estate in the country.
Furthermore, since Ohmyhome has offices in Malaysia and Singapore, the proptech platform claims that prospective buyers from these countries have more faith.
Finally, when Philippine property developers provide flexible payment plans, purchasing from abroad is an appealing choice. It’s all systems go for property seekers, wherever they might be, with Ohmyhome on hand to assist them.
Ohmyhome was launched in the Philippines in September 2020, following the company’s establishment of a tech team in the country in 2017. Ohmyhome was originally founded in 2016, and subsequently rose in Singapore as a leading PropTech solution and licensed real estate agency.
Ohmyhome expanded into the Philippines so that Filipino home seekers can have a real estate partner that they can trust to have their best interests at heart and can be relied upon to provide exceptional services throughout the entire property journey.
Featuring thousands of properties across many of the Philippines’ major real estate brands, Ohmyhome differs from other local platforms by going the extra mile and extensively helping buyers narrow down the choices and find the property that best suits their budgets, home needs, and lifestyle preferences.
The company’s Real Estate Agents not only help in the shortlisting of options but also provide professional services through the entire purchasing process. These include assistance in property inspections, negotiations, the finalization of the Conditions of Sale, deposit collection, the submission of property documents, as well as providing buyers regular updates.
Ohmyhome helps Filipinos find their dream homes, all while making sure each real estate transaction is complete and is an efficient and enjoyable experience.
For more information, please visit: https://ohmyhome.com/en-ph or download the app at https://ohmyhome.com/download-app