<ul data-eligibleForWebStory="false"><li>The US decision to impose a 1% remittance tax is expected to impact property investing activity by overseas Filipino workers (OFWs).</li><li>The tax could lead to a decrease in remittances allocated for real estate investments, affecting the property market, particularly in the luxury segment.</li><li>Analysts estimate a potential dip in remittances between $19.1 million and $148.4 million as a result of the tax, impacting the economy minimally.</li><li>The decline in money sent home by OFWs could reduce demand for residential and retail offerings in the industry, potentially leading to canceled purchases and impacting retail demand.</li></ul>

Real estate prospects clouded by new US tax on remittances

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