Saturday, April 15, 2017

7 in 10 Filipinos Living in the UAE Are Looking to Buy Property According to Reports




7 in 10 Filipinos living in the UAE are looking to buy property according to New Perspective Media polls, the Philippine Property and Investment Exhibition reports. There are almost 700,000 Filipinos in the UAE, nearly half a million of which live in Dubai. Let’s look at the reasons so many Filipinos in the United Arab Emirates are considering buying homes in Dubai or back home in the Philippines. We’ll also look at their property buying patterns and impact on the real estate market.

The Statistics

According to a 2016 survey, 78% of Filipinos living in the UAE are planning on buying real estate in the Philippines or UAE in the next two years. Their planned purchases range from houses, to condos (flats) or land. This rate is much higher than the 43% who said they were thinking of buying real estate in a 2014 New Perspective Media survey. Those who planned on simply investing in property doubled from 22% to 46% over the same time period.

Buying Patterns

Many Filipinos want to buy real estate as an investment as compared to paying rent each month, while others see buying a property as an investment in itself. Manila’s residential real estate prices are growing the fastest rate in the Asia-Pacific region (not including Vancouver’s ultra-hot real estate market).

The eleven million Filipino expats sent $26 billion back home in 2013, accounting for about 10% of the nation’s GDP. This money is being used by their families to improve their lifestyles, including buying and building new homes in the Philippines. The Filipinos who want to buy real estate in the Philippines are eager to do so as soon as possible to lock in the prices as well as profit from the fast rise in real estate prices.

Filipino’s preferred real estate purchases depend on where they want to buy. Most state they want to buy a house in a gated community, a piece of land in the suburbs where they can build a home of their dreams, or a flat in the city center. Of those who want to buy real estate in the Philippines, 60% want to buy a house on a lot, 30% want to buy a condo, and 10% want to invest in a lot.

Buying land in the suburbs is seen as a way to protect one’s money, since the land will likely appreciate but can be sold to someone else if the owner needs to buy a flat instead.

Impact on the Real Estate Market


Dubai is unusual in allowing expats to buy land and real estate, instead of remaining renters. Filipinos account for about a fifth of the population of Dubai. When the majority of this population decides to buy homes and invest in real estate, it increases the prices of villas for sale and raw land on which homes could be later built. Filipinos are also investing in real estate in Dubai because interest rates are as low as 4% while personal loans are readily available.

Filipino expats buying real estate in the Philippines have enjoyed high wages in a tax-free environment, which is why 13% of those surveyed had a preference for high-end properties costing more than PhP5 million. This is driving up Philippines real estate prices and accounts for why the nation is one of the top ten fastest growing luxury markets on the planet. Most surveyed, though, had a PhP2 million price ceiling.

Many Filipino expats were also considering buying rental real estate to rent out to others in the Philippines, since the nation’s 7.53% rental yield is one of the highest in the world.

Conclusion

Filipino investments in real estate in the UAE and the Philippines are driving up real estate prices. In both locations, they are buying up flats in the city center, homes on lots in the suburbs or land that they can easily sell or build a home upon depending on future circumstances. Those buying homes back in the Philippines are sometimes doing so for investment purposes due to the high rate of return, while others are buying homes now because they don’t think they will be able to afford homes after several more years of inflation.



Friday, May 6, 2016

Who will lead Philippines in the next 6 Years?



Three days from now, May 9, 2016, Filipinos will cast their ballot to elect the new President who will lead the country for the next 6 years. We have seen and heard on tv and and debates what these candidates had to say about national issues. We have heard their platform of government and their vision for the country. As a Pinoy living and working outside the Philippines, I would choose someone who will take care of the issues like healthcare, business opportunities and security.

For me this national election is widely covered by social media. On FB alone, I would see a lot of memes in my timeline, videos, propaganda, ads (paid or not) etc. I would want to believe that these were done voluntarily because people are promoting the candidates platform they believe in and also have the freedom to criticise and candidates they dislike.

But let's take a look once more at the five candidates. 


1. Miriam Defensor Santiago 

Once Dubbed as Iron lady by Asia Magazine in 1989, is a brilliant lawmaker and a member of the senate. She claimed that the votes were rigged in 1992 national elections when she run ran against Fidel ramos which the later won.

She said she beats the lung cancer by taking a wonder pill. She always lagged in the national surveys among presidentiables.

2. Rodrigo Duterte

A long time mayor, vice mayor and congressman from Davao city in Mindanao is known for his zero tolerance against drug addicts and criminals that earned him the title "Punisher".

Issues like human rights violations and unresolved killings in Davao continues to hound him. Recently, he leads the surveys few days leading to the elections. His chances of winning the presidency is boasted the the endorsement of vote blocing Iglesia ni Cristo. 

3. Mar Roxas

Roxas came from a wealthy family and political family. He gave way to the president Noynoy Aquino during the 2010 elections and run as his vice president. He lost to Jejomar Binay in that Election. 

Several issues were hurled against him. Many claimed that he mismanage billions of Yolanda funds when leyte was hit by a strong typhoon, his ineffectiveness as a DOTC secretary etc.

He is married to Korina Sanchez, an ABS CBN news broadcaster.

4. Grace Poe

She is adopted daughter of a famous film actor Fernando Poe Jr. Her qualification to run as president was settled by the supreme court because she was once a US citizen. She lived and work in US for long time.

She topped the senatorial elections in 2013. She was considered as a newcomer among the presidentiables.  

5. Jejomar Binay

Binay is long time mayor from Makati. His wife, son and two daughters were also politicians. He claimed that he transformed makati into a a financial center and will continue to implement the same reforms to the country once elected as a president.

Allegations of over priced contracts were thrown at him but he never appeared during the senate investigation.   



Wednesday, March 2, 2016

Missing Filipina killed by watchman in 'revenge'


Dubai: A Filipina expatriate whose father had requested help to locate her after pictures were circulated on social media was murdered by a watchman, police said on Monday.

Lenlie Silpao Oliverio, 26, was murdered on February 19 by the watchman of her building who was arrested within 24 hours, an officer said.

The suspect has been transferred to the public prosecution.

On Monday, Major General Khamis Mattar Al Mazeina, Dubai Police Chief, said police investigation points to evidence that the Filipina was killed by her building’s watchman, who had a verbal altercation with her on the same day she died.

“On Thursday, February 19, the operations room received a call around 7pm from an Asian man saying that his friend who lives with him was murdered in their apartment,” he said.

The crime was committed in an area that was under Al Rashidiya police station’s jurisdiction.

The Asian man, who had just returned from work, found Oliverio stabbed multiple times and the apartment ransacked.

Teams from Dubai Police’s Criminal Investigation Department and General Department of Forensic Science and Criminology rushed to the scene and started their investigation.

Maj Gen Al Mazeina said the Asian man, who lived with the victim, said that he had last seen the victim in the morning before going to work, adding that the victim had also spoken to him around midday asking him to buy some things for the house.

He said, “Initially there were no obvious signs as to who could have committed the crime. Teams started looking into people who knew the victim, the victim’s flat-mate, people who live in the building and in nearby shops.”

Major General Khalil Ebrahim Al Mansouri, Assistant to the Dubai Police Chief for Criminal Investigation Affairs, said, “The way the victim was stabbed led us to deduct that revenge could be the reason behind her murder.”

He said that although the watchman was helping out the victim’s friend, and facilitating access to residents while police were in the building, policemen suspected him due to his body language.

“Our teams, who are trained in reading body language, suspected the watchman, although he had no wounds or marks that could link him to the murder. He was taken in for questioning at the Criminal Investigation Department, where he confessed to the crime,” Maj Gen Al Mansouri said.

He said they tested the watchman’s DNA against biological evidence found at the crime scene, which tested positive, linking the man to the crime.

Maj Al Mansouri said the suspect claimed that he was cleaning the floors of the building that morning at around 9am when the victim walked by and spilt the water bucket he was using to clean, after which a heated argument ensued.

“The suspect confessed that he then got a knife, went to her apartment at around 2pm and told her that there was a problem with the fire alarm. So she let him in. When she did, he said he grabbed her, put his hand over her mouth and stabbed her multiple times until he was sure she was dead,” he said.

The suspect then told the police that he cleaned his clothes, closed the door and carried on with his day. Police declined to reveal the number of stab wounds.

Police said the suspect had only been in the country for around two months, where he worked with the same company but in a different building in another emirate.
He had only started working at the victim’s building 10 days before the crime.

Lt Col Adel Al Joker, Head of Investigation at Dubai Police’s Criminal Investigation Department (CID), said that the attention from Maj Gen Al Mazeina and Maj Gen Al Mansouri and their presence at the scene helped catch the suspect in such a short time.

“As soon as he knew the initial details of the murder, Maj Gen Al Mazeina said that the suspect is someone from the building — not an outsider.” Lt Col Al Joker said, adding that this is an isolated incident, and that Dubai Police are always prepared to thwart any criminal attempts.

He said Dubai Police did not reveal the details of the crime until all the procedures were completed.

Family mourns
Earlier Gulf News reported that Eddie Oliverio, Lenlie’s father, was worried about his daughter who was living in Dubai.

Oliverio said his neighbours showed him a Facebook post bearing his daughter’s picture and a text that read: “Justice for Lenlie Silpao Oliverio”, followed by a caption that said Lenlie was brutally murdered in Dubai.

The Philippines consulate officials confirmed the woman’s death on February 24.

Lenlie is survived by her parents and two children, aged 10 and 5.


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source:
http://gulfnews.com/news/uae/crime/missing-filipina-killed-by-watchman-in-revenge-1.1681712

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