Tips for Buying Propery in Palawan, Philippines

By lgreeco

An expat in the Philippines offers advice to newcomers about buying property there. He explains that foreigners who condo buyers are typically eligible for the Special Resident Retiree's Visa (SRRV).

Popular Expat Areas in the Philippines

Anywhere the expat's heart leads him. If you are into the city life, Metro Manila would be attractive to you. If you looking for peace and solitude, you have too many choices to be listed here. Nonetheless, the island of Palawan might be a starting point for your property search...

Property Search in the Philippines

There are many Real Estate web sites. Most are obscenely outdated and worthless. Try DotProperty. Very professional and timely !!!

What 150k Can Buy You in the Philippines

Squatters can build a home virtually anywhere on these islands for less than the cost for a night on the town in NYC. At Present, to find something comparable to what one would call the modest middle class American home expect a comparable price 100k 150k.

Before You Buy a Property in Palawan, Philippines

Live in the Philippines a minimum of ONE YEAR and be certain this is for you before making any decisions. Personally, I have been here 3 years plus and have not yet made that leap of faith of making a purchase. My sense is that contrary to the propaganda of a booming world economy, reality and basic economic math, relative to national debt levels says this is the crest of the wave, beware the forthcoming financial tsunami.

Legal Assistance

This is a foreign country with corresponding laws. Nonetheless, English is well spoken here and obtaining legal representation is most certainly to one's advantage, the best part, you will be paying a fraction in comparable cost/fees for first-hand knowledge and advice.

Costs Involved in Buying a Property

Depends on property selected and not possible to quote prices !!! Each and every purchase is unique.

5 Best Places to Buy Real Estate in Palawan, Philippines

If you are prepared to pay near USA prices for property you can buy just about anywhere. For those of us with less grandiose perceptions, diligence and patients will render enormous rewards. There are, relative to "USA" bargains, everywhere. But, they are also far and few inbetween. In the end, asking price is irrelevant, the guy with the cash always marks/makes the price.

Foreign Property Ownership

Yes, there are restrictions. As a foreigner you can not own property in your name directly. However, you can own a condominium with the added advantage of obtaining Special Resident Retiree's Visa (SRRV) as a result of a qualified investment. Do research this option. Note: YOU NEED NOT MARRY TO STAY IN THIS COUNTRY!!!!

Steps in Buying Property in Palawan, Philippines

Again, I am not qualified to give this type of information. Also, with 7,000 islands and that many plus in variables, when talking about property purchases.