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Shift from stocks to Philippine Real Estate seen

By BERNIE CAHILES–MAGKILAT

With the volatility in the stock market, Filipino investors are advised to shift their investments into the Philippine real estate as it has an upswing mood as its rising cost is being driven by the stability of the remittances of the overseas Filipinos workers and the robust business process outsourcing (BPO) businesses. Francis Chua, president of the Federation of Filipino Chinese Chamber of Commerce and Industry (FFCCI), said this as the stock market plunged to 2,997 level yesterday from a high of over 3,400 mark a few days ago. The market support is 2,870 so it’s a good 800 points before the market could consolidate and perhaps go for a technical rally.

"We should put our money in real estate in the philippines and other more stable businesses," Chua said.

According to Chua, OFW remittances averaged $ 12 billion to $ 14 billion a year and most of these are spent in acquiring real estate in the philippines. In addition, office space rentals in Metro Manila have gone up to P1,000 per square meter because of the strong demand from the BPO operators.

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2010.03.12

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Emie and Bart Dapku

We're Planning to move back to the philippines and were looking for housing.Im from dapitan originally and my husband and i hope to be moving for back

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