The real estate industry in the Philippines has always benefited significantly from OFW (Overseas Filipino Worker) remittances that are used in making investments in residential and commercial real estate throughout the country; as much as 30% of the remittances are regularly invested in local real estate. Other key customers in the industry traditionally include housewives and expatriates seeking short-term or long-term housing. However, as of late, that has begun to change, as online real estate websites have started to draw in clientele beyond brokers’ usual contacts and networks; buying a house in the Philippines has become much more convenient for ready buyers and information seekers alike.
In just a few mouse clicks, virtually anyone in the world who is interested in buying a house in the Philippines can view properties on the market that are available online for viewing and comparison shopping. These property websites offer visitors security, ease of access, and the promise of transparency.
According to Eric Manuel, general manager of Jones Lang LaSalle Leechiu, “For the sellers and brokers, it enables them to reach out to clientele beyond their usual contacts, which may be in other cities in the Philippines and outside the country.” There are around 8.6 to 11 million OFWs the world over, and one of their main priorities is to purchase a house and lot, in an effort to raise their family’s standard of living back home.
Along with many emerging technologies, the Internet has become highly ubiquitous, and as such, logging on to the World Wide Web when one is conside