NextGen Day

PHILIPPINE National Bank (PNB) has collaborated with New Jersey-based Alexander Anderson Real Estate Group (AAREG) to boost its marketing efforts in the New York-New Jersey Metropolitan Area to assist promote properties in the Philippines to Filipino-Americans.

“While they are still in the United States, we are making it simpler for them to get a solid investment. Despite the Covid-19 epidemic, we find that people in the New York metropolitan region are still interested in these investments,” said PNB president and chief executive officer Wick Veloso.

Through the Own a Philippines House Loan, PNB is making it simpler for those living overseas to buy a home in the Philippines (OPHL).

PNB’s first marketing partner for OPHL is AAREG.

“The reality of today’s business environment is that cooperation and strategic alliances are essential to achieving company outcomes,” stated AAREG CEO Eric Anderson. Our team is looking forward to expanding our partnership with PNB.”

PNB continues to observe an increase in the number of Filipinos interested in buying a second or third property in the Philippines, according to Veloso.

“Many Filipinos work hard outside of the nation to establish their professions and would want to come home. PNB is here to assist them in obtaining their dream house, according to Veloso.

Whether they are Filipinos working overseas or foreigners seeking for a house or an investment in Philippine real estate, PNB can assist them in obtaining property in the nation, according to Veloso.

While many foreigners and Balikbayans can rent property, the OPHL may be an excellent method for them to invest in real estate in the Philippines, particularly if they intend to retire or remain longer in the country, according to Veloso.

Land and real estate holdings may be purchased by Filipinos and individuals with dual citizenship. Foreigners are not permitted to acquire land in the Philippines, however they are permitted to own a condominium unit for personal use.

Seven out of ten Filipino-Americans in the United States are working in 2019, with a median family income of $90,400. Six out of ten people indicated they owned a house in the area.

Remittances from overseas Filipino workers (OFWs) continued to fuel demand for cheap to mid-priced condos in Metro Manila in April 2021 (P1.7 million to P5.99 million, or $34,000 to $119,800).

Families that get remittances from overseas will certainly continue to be catered to by developers. Filipinos and foreigners in the United States contributed an estimated 40% of the developers’ income.

OPHL offers house loans to Filipinos and foreigners living and working in the Philippines. This is a simple method to apply for loans, book them, and pay them without having to go to the Philippines. PNB’s international offices in Los Angeles, New York, Guam, Canada, Europe, Tokyo, Singapore, Hong Kong, and the Middle East all provide OPHL. Interested candidates should go to https://www.pnb.com.ph for further information.

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