Abstract
Remittances are frequently characterised as consumption-oriented, but this framing may obscure their role in housing capital. Using a survey of 780 households with at least one returned labour migrant, we find that 43 per cent of accumulated savings were directed to housing construction or renovation, concentrated in the first two years after return. Investment was strongly associated with intended permanence of return, indicating that housing decisions serve as a commitment device rather than a purely economic allocation.