Foreigners Buying Property in the Philippines have the property in another persons name.
I visited the Philippines for the first time in 1997. Upon arriving at Ninoy Aquino International Airport, I instantly realized that I had come to a country with an ill deserved reputation as over-Americanized and not Asian enough. The warm weather was a relief after coming out of a New York winter. There was a band playing Filipino folk music in the airport, wearing straw hats and the traditional barong tagalong shirts. I was overwhelmed by the sounds and colors that swirled through the streets as I made my way to the domestic airport for a flight to Cebu. I stayed in Cebu for one month and on my return to the U.S., I knew that I wanted a place of my own there to go back to.
In 1998 I made a second visit. This time along with Cebu I took excursions to the islands of Bohol and Palawan, thereby giving myself a look at a few of the over 7,000 islands the Philippines has to offer. Cebu appealed to me because it is a city but with a relaxed air and without the congestion of Manila. I also figured that real estate would be somewhat cheaper, so I decided to concentrate on Cebu.
Philippines Property Categories
There are many categories of properties in the Philippines. The most expensive real estate is the subdivisions. Subdivisions are geared towards foreigners and middle to upper-middle class Filipinos, including those who work abroad. They vary but generally subdivisions have there own infrastructure and security. Developers often set up booths in local malls to display their models. You can buy a house and lot with the developer building the house, or sometimes just the lot and build the house yourself. Subdivisions are good because they usually have flexible payment schemes. If you don’t have money to pay for the house in full you can opt for term payments. Make sure they give you an interest rate you can live with. All of the subdivisions I’ve seen offer a maximum of 5 years to pay. So, for a house that costs $USD20.000 you’re talking about $USD500/month for five years and it’s yours. There are simple subdivisions without pools and clubhouses that offer a house and lot for just over $USD10.000 so shop according to your budget.
Another category of property is the house or house lot outside of a subdivision. This type of property will generally be cheaper, especially if it is outside of a major city like Cebu. One concern is that you have to rely on public services when it comes to water and waste removal, as well as the maintenance of your electrical grid. In other words, you’re in the “real world”. If you fancy the countryside you can find extremely cheap lots and local carpenters to build your nest. Lot listings such as these are easily found on the internet. There are a variety of Filipino realtors online from reputable companies. My advice is to make contact and then get on a plane and take a look.
Another option is the condominium. New and used condominiums are everywhere and like subdivisions, offer payment plans. Newer condos can be overpriced so be picky.
Where to Buy Property in The Philippines
Deciding which island to buy on is a complicated affair. I would suggest thinking about the kind of environment you like. Every major island in the Philippines has an area with ample countryside but not every island has a major city. Cebu is the middle road. There is a good size city and a geographically diverse countryside. Bohol is an almost entirely agricultural island with a quaint seaside town. Palawan, often called the Philippines “Last Frontier”, is vast and breathtaking. If the beach is your thing, you will find it in Palawan. Land in Palawan is much cheaper than other areas of the Philippines. I’ve seen subdivisions with lots advertised as low as $USD1.800. Domestic travel is inexpensive so find out what island speaks to you.
How to Buy Buy Property in The Philippines
The procedure for buying real estate in the Philippines takes some getting used to. Foreigners (non-Filipinos not including former Filipinos) can not buy property outright. The easiest way for a non-Filipino to buy property is to have a Filipino spouse purchase the land. Former Filipinos can buy land up to a certain amount. The foreigner can own the building but not the land, unless the foreigner has a Philippine Special Retirement/Investment Visa. To qualify for this visa you must be at least 35 years old and meet the bank deposit requirement which can be withdrawn at a later date for your investments. There is a processing fee and the amount of the deposit/investment needed depends on whether or not you are married to a Filipino or former Filipino. This allows you almost all of the investment privileges of a Filipino citizen. For specifics on the program, check out the Philippine investors visa website. Foreigners are allowed to own condominium units outright but are only allowed to own 40% of a building or complex. You can also form a corporation where you and a Filipino or former Filipino partner, divide the ownership. This partner could be your spouse or child. For corporations, the Philippine government recognizes the right of succession in the case of foreigners.
The Philippines offers a unique environment for your get-away or permanent home. There are so many islands to choose from and a well developed industry accustomed to accommodating foreigners.
However, there are various means by which noncitizens can hold property in the Philippines.
As a result, it is increasingly popular for overseas Filipinos to invest back home.
Original Post http://www.iht.com/articles/2006/01/19/news/rebuyphil.php
great!!!!!!!!This partner could be your spouse or child. For corporations, the Philippine government recognizes the right of succession in the case of foreigners.
hi.i want to buy property in phillipines.if i marry a phillipino woman will that make me illigable to buy? how safe is it to buy there? thanks
Hi deon
You cannot own it. She will own the largest protion and there are many horror stories of the girlfreinds taking the house and the guy getting nothing. It is better to lease or rent. You can have a long term lease for a townhouse in your name. The laws favor Filipinoes.
Hi, I have a beautifull house for sale in one of the exclusive subdivision in Cabanatuan, Nueva Ecija I also accept swap my house if they have a house United states so if there is anyone who interested of buying a house in Nueva Ecija please contact me my email add. is mra_trs_1003@yahoo.com thanks..
I’m selling a condo in Makati. Just 1 unit. Bare with parking 93 sq. m.
+639278262826
my fiance in the philippines has told me of a deal on a lot near the apartment we have been renting.we pay only 4,000 per month for the apartment but my fiance told me of a special deal a friend of hers was offering on a lot in a subdivision.she said that for 10,000 we can assume the loan.i dont know all the particulars and the only reason i went along with this plan is because she managed to get the landlady to agree to accept 5,000 now and 5,000 in one month from now.to me this is not a lot of money and so i decided to trust my fiance.i will western union her the money today(5,000 pesos).the total cost of the loan i believe is 100,000 pesos.the lot has no home on it that will need to be built for an additional cost.the problem im having with this whole deal is what if my eventual marriage to her goes bad and then she gets to have the property and home and i get to take a hike.also for the time being the lot is in her name
I am retired and I want to buy an house in Cebu/Mactan and I would like to live there with my pension and the rent of some properties in Italy: I would like to know if I can obtain a retirement visa, and for how long?
My monthly pension is 600 EURO and my rent income is 500 EURO per month!
Thanks for your assistance.
Best regards,
Mario Zettera
Hi, My name is Julie David, I reside in San Francisco Bay Area California USA, my permanent residence. I purchased 2 hectares of prime beach property in Palawan, I’m a dual citizen. I want to develop the area turn it into a community residential retreat, developing it on my own takes a lot of money which I don’t. I’m inviting 28 people to co-own this amazing propety into our own private retreat, share all expenses, build our own house and have it rented while we’re back home. We will have property management who will take care of our property and our guests, or use it like time share and promote it on our own. As an owner, I will put up a restaurant for our enjoyment and entertainment at night. Please see my website:
I encourage you to view the property, invest ona plane ticket and I will take care of your accommodation for 3 days and 2 nights stay, you will have pick and return to the airport. Now, you don’t need a huge lot to own a prime beach property, you have the security of being in a community and in subdivision. There is no offer like what I’m offering in Palawan. Please check the prices for Tigman, Aborlan property, where 4 established resorts, and huge estate right next to my property. Remember this is your very own private winter retreat or as residence. An investment you can not go wrong. We give 25 years least and renewable 25 years for those foreigner who wants to be part of this small community of 28, will have the amenities of the resort. Hope to hear from those people who wants to own a tropical beach property setting.
Thanks, Julie David
Hi Julie and David,
The concept is good. I hope it works for you. Property investments in the Philippines can be risky and therefor hard to get investors.
I am in Sagada where you can only lease land. I also have set up a few health retreats and just finish setting up http://sagadahosptial.com….. the first integrative holistic treatment hospital in the Philippines so if you can get it built, I would gladly give you direction.
Hi Mario
Yes, for $10,000 us investment in the Philippines you can get a retirement visa. The cost is $1400 one time fee.
I heard you just need to photocopy of a philippine bank statement with that amount showing. You can easily live on that amount.
I live in Sagada and here living is very cheap with the best climate in the Philippines.
Hi Kenneth
There are hundreds of stories of guy who lost it all and ended up broke. And a few where they fell in love and it lasted.
Most Filippinas are loyal trustworthy women but can alter in seconds after a breakup. Also there is rarely a clear title of ownership.
Better to rent.
Hi,
Have you heard about CITTA DI MARE, literally the “City by the Sea?” Spanning 50.6 hectares at the heart of Cebu’s South Road Properties. Features a waterfront lifestyle strip and a residential resort town bounded by majestic views of Mactan’s coast and Cebu’s mountainous area:
IL Corso – a 10.6 hectare waterfront amenity area that offers a range of seaside leisure activities and Residential Resort Town -40 hectares of themed residential communities anchored by The Piazza.
Right across the residential enclaves, the 10.6 hectare Il Corso takes full advantage of the coastal ambience, offering a watering hole, leisure central and cultural hotspot right by the water’s edge: boardwalk, terraced beach, marina, cafes, bars, restaurants, souvenir shops, home depot/retail outlets, exhibit tent, amphitheater
Over 65% of the residential resort town is allocated for wide-open spaces and landscaped greens, giving you the generous amenity of verdant parks and lush streetscapes. Low-density community with residential clusters set apart to give residents a sense of freedom and privacy. Residences are carefully laid out to maximize the abundant sunlight and circulation of the invigorating sea air.
Citta di Mare is a relaxing, pedestrian-friendly community where residents are encouraged to discover the joys of nature. An auto-free zone with the safety and health of residents in mind.
There are many reasons why to invest: 1) You will experience sea side living 2) This is a resort residential condominiums (rest and recreation) Within its secure, gated premises, makes resort living way of life. Theres a swimming pool, clubhouse, basketball court, rest/event gazebo, parks & play areas, pathwalks and kiddie nooks
3) Premiere location of pride of Cebu. And many more…
For more details, you can email me at ginvill07@yahoo.com
The place sound amazing. It is expensive to live in CITTA DI MARE?
The units available are 2BR (56.79 sqm) and 3BR (113.58 sqm). The pre-selling price at Php75K/sqm and it will rise at Php80K/sqm by August 25, 2010. The charms of seaside living abound, evoking images of world-class waterfront attractions such as Sydney’s Darling Harbour, Newport Beach, Fisherman’s Wharf, and the romantic French Riviera. Citta Di Mare will be surrounded by the biggest SM mall in Visayas and Mindanao (2nd to the mall of Asia), University of the Philippines (Cebu College), Big Foot Studio, and many more…
Is it ok to get your email add? I want to send the pictures and some of the details of Citta Di Mare.
Hi Gina,
Make a post and ad the pics and your links.
I want to buy house and Lot but long term payment in general santos city
To: Mr. Tom Coghill
I like your idea of developing an area for integrative holistic treatment…I want to ask if you wanna expand such concept here in Moalboal, Cebu (the diving capital of Cebu-kindly browse Moalboal divespots) and maybe add a feature to it by developing retirement villas and or retirement homes…I have available cheap areas up for sale that will suit to this concept of development. Hope to hear from you very soon. u can email me mariarhodasiangco@yahoo.com
Hi Maria,
I just set up a program in PaPua New Guinea with Congressman Jamie Maxtone Graham. I do not invest money. But I can assist in the setup.
Hi Everyone! Please visit our site through http://www.verizonproperties.com.ph. We are currently in the process of Launching our new Condotel project here in Makati City Philippines. This is not just for residential purposes. It is a very good investment as well, since it will generate monthly income once enrolled with our Condotel program. Hope to hear from you soon. Would like to hear your thoughts about it. You can email me anytime and can also call you.
Thank you
Carina Watanabe
Property Consultant
watanabe.carina@yahoo.com
I have a new home in Beverly hts. Hermosa, Bataan. Is a gated community subd. top
of the hill, We are selling it, two story, 3 bedroom, 2 full bath, garage, never been occupied.
Asking for 2 million pesos. If interested call me. 201 707 0758 in New Jersey USA.
I am romeo just email me If you are interested. rdquizon2000@yahoo.com
I would like to sell white beachfront land in El Nido-Palawan, around 20,5 hectares. There are hot spring, dive spot, snorkeling, fish sanctuaries and around 30 minutes from El Nido Airport. The land is full with coconut trees, manggo trees & etc…
You can buy whole the area, you can buy also for 1 or 2 hectare only. The price PHP350 per square meter.
Thank you very much, if you have question, please feel free to contact me at +63 9088727522 (email:poengxy@yahoo.com)
Thanks,
Yuni
Hi..im selling our private island for a very cheap price of Php75million pesos..but first before u react, it’s a 48-hectare island, lobster-rich, “boracay” white sand, and we only have caretakers as tenants and nobody else stays in the island other than them. it’s a short ditance of like 10min-pump boat ride from the mainland..(if you’re interested to know, we are also selling our mainland) it’s verysafe, typhoon free, and tsunami free area..and the most important is….It’s terrorist-free! it’s in northern samar. If you’re interested, please email me. i cant give u any aerial pics of the island but i will be happy to tour you around jst in case u want to get the feel of the place.
This is very ideal place for place alternative to boracay..or leisure resort for americans or similar to that concept. THIS IS DIRECT BUYER.
my email is mjmp2010@yahoo.com
Luxury Living has found a new home
The Courtyard at Lakewood Golf Estates is a tribute to the Novo Ecijanos whose families truly deserve nothing but the best—prime residential lots bundled with membership to Lakewood Golf and Country Club. A 23-hectare cluster of prime choice lots, The Courtyard is a self-contained community with nature-themed features and its own private amenities including the Lakewood’s 18-hole championship golf course.
The Courtyard is situated within Lakewood Golf Estates, Lakewood City—the most prestigious address situated at the heart of Cabanatuan City’s new central business district where the city’s commercial expansion shall emerge. This exclusive community is a complete high-end lifestyle offering that only Lakewood provides.
The Courtyard at Lakewood Golf Estates is a partnership between Landco Pacific Corporation and NE Properties Development Corporation.
for inquiries:
Lester Zamora
Please call or text 09174981525
Hi.. My relatives selling there properties 15hectares and 76hectares in cabuyao philippines near in tagaytay its 20mins to go there and its over looking..who those are interested buyers pls contact me @ this email add:reymil_guinto@yahoo.com or call me 09398380193.
Thank you!!
we have different white beach property selling in nasugbu(white beachfront lots & resorts) and anilao, mabini batangas
dive spots with own shoreline….from 1 hectares to 2 hectares to 7 hectares ( 3500 pesos per m2)negotiable.
please do email me – francis_sky01_fajarito@yahoo.com
Hi
I am sellling a raw farm lot located in Island Garden City of SAmal,infron of Davao City.I offer tecash or installment basis. Interested? ginaprado42@gmail.com 09197799555
Hi everyone! W Group Inc. has an available Condominium Units FOR SALE / RENT: 99.38sqm Bi-Level 2 BR Special (Bare), 99.68sqm Bi-Level 2 BR Special, 102.85sqm Bi-Level 3 BR
More affordable schemes offered!
It is located in 39th Street Bonifacio Triangle, Bonifacio Global City Taguig
For furtther inquiries
Please text/call at: 0905-474-12-08 / 0939-465-48-98
or email me at carmelaquerol@gmail.com
hi..we are selling a 571square meters lot here in general santos city.,one ride away form the mall,market, church,…if your interested just contact me on this number 09427291574
another lot for sale here in conel general santos city..a 300 sqm area..if your interested just contact me on this number 09427291574
want to rent or own condo, townhouses, apartment, lots, lands at a very afoordable price, pls contact +639497954486 or to my e-mail add at lecajepe@yahoo.com. Thank you
foreigners want to rent or own condo, townhouses, apartment, lots, lands in the philippines at a very affordable price, pls contact +639497954486 or to my e-mail add at lecajepe@yahoo.com. Thank you
hi deon you can owned condo units here in the philippines…….. foreigner are allowed to owned condos here in the philippines… try to invest or own or even rent try to contact me at +639497954486 ior to my e-mail add at lecajepe@yahoocom
Hi everyone! I’m a Property Specialist from Alveo Land Corp. an Ayala Land Company. If you are interested to buy condominiums or townhouses here in the Philippines, please don’t hesitate to inquire about Ayala Land projects from me. They are all located in The Fort, Makati, Manila, Quezon City, Laguna, Pampanga and Cebu.
You can reach me with these contact details:
0917-4124545
joyce.turgo@gmail.com