Overseas Filipino workers continue to provide a crucial source of demand for the Philippine housing market, with homeownership aspirations proving resilient despite economic uncertainties abroad, according to listed developer Empire East Land Holdings Inc.
Speaking at the company’s annual stockholders’ meeting, Empire East president and chief executive officer Anthony Charlemagne Yu said overseas Filipinos remain an important pillar of the residential property sector, even as buyers become more cautious and selective in their purchasing decisions. Empire East is a unit of Megaworld Corp., the property arm of billionaire Andrew Tan.
“OFWs continue to represent an important and resilient segment of the Philippine real estate market,” said Yu. “While global uncertainties and economic fluctuations in certain regions may affect purchasing timelines and sentiment, we continue to see sustained interest in homeownership in the Philippines.”
The observation comes at a time when higher interest rates, geopolitical tensions and slowing growth in some overseas labor markets have prompted concerns about their potential impact on remittances and property purchases.
Rather than retreating from the market, however, many overseas Filipinos appear to be changing the way they buy homes.
Empire East noted that buyers are increasingly prioritizing projects that offer long-term livability, accessibility and practical value for family use, future occupancy or retirement.
The shift marks a move away from purely investment-driven purchases and toward end-user demand, a trend that could make the residential market more stable over the long term.
The developer said this evolving preference aligns with its focus on the mid-income segment, where affordability and accessibility remain key considerations.
The company also downplayed concerns about a broad property oversupply, arguing that market conditions vary significantly by location and price segment.
“Oversupply is not uniform across the market. It depends on the segment and location,” Yu said. “In the mid-income segment, particularly in accessible locations, demand remains steady.”
The comments suggest that while speculative demand may have cooled, genuine housing demand remains intact. They could mean the next phase of growth will depend less on investor enthusiasm and more on developers’ delivering homes that match the budgets and long-term needs of Filipino families, both at home and abroad.
