LURED by news on the buoyant Philippine property sector, majority of Filipinos workers in the United Arab Emirates (UAE) want to buy real properties back home, the latest survey by Middle East-based events and media firm New Perspective Media (NPM) showed.
Results of the survey were published in NPM’s print media arm, The Filipino Times, and in other UAE media.
NPM conducted the survey in 2015 among 1,000 respondents, in time for a promotional event it organizes for Filipinos in the UAE, the third Philippine Property Investment Exhibition (PPIE) in Dubai in October last year.
The survey showed that about eight in 10 Filipinos in the UAE plan to buy either a house-and-lot in a gated community, a piece of land in the suburbs, or a flat in central urban cities within the next two years.
Such level of interest was a lot bigger than what was indicated in NPM’s previous survey, which had only 43 percent of the respondents saying they wanted to buy properties in the Philippines.
The latest survey also showed that those who plan to invest in a property within a year more than doubled to 46 per cent from 22 per cent in the previous survey.
“Investing in Philippine property today is ideal for Filipino and international investors, as prices are likely to soar substantially in the coming years,” Karen Remo, managing director of New Perspective Media, told the UAE media.
Online Emirates News 247 cited that the newest survey revealed that a majority of the respondents still opted for a P2-million (Dh167,000) price ceiling.
Those who indicated a preference to buy high-end properties costing above P5 million (DH417,000) almost doubled, from seven percent in 2014 to 13 percent in 2015.
The survey said 60 percent of the respondents preferred to buy house and lot; 30 per cent opted to invest in a condominium, and 10 percent intended to invest in lots only.
In March 2015, the Middle East-based Gulf News reported that in the NPM’s survey in 2014, majority of the respondents picked Metro Manila as their preferred location for property investment in the Philippines, followed by Cebu, Laguna, Bulacan, and Davao.
About a million Filipinos are working in the United Arab Emirates.