Real Estate in Philippines

"One of the best ways to find a place to live in the Philippines is to use an online rental marketplace such as looloo.com, housing.com.ph, or property24.com. These sites allow you to search for available rental properties according to your individual needs, such as location, size, budget, and amenities. Additionally, you may want to consider using the services of a real estate agent who is familiar with the property market in the area you are interested in residing. A real estate agent can provide valuable advice and can make your search for a suitable residence easier. You can also find listings for rentals in newspapers as well as online classifieds such as OLX or Airbnb. Finally, you can also network with friends and families to see if anyone has a vacant apartment or house for rent," explained one expat living in Philippines.

"Expat homes and apartments in the Philippines tend to be modern and comfortable. Most commonly, they are single-storey Western-style homes with air-conditioning and a well-equipped kitchen. Most expat apartments are spacious and come with excellent facilities, including swimming pools and gyms. There is typically a range of apartment sizes and styles available, from studio apartments to large, multi-bedroom units. Expat homes and apartments are often comfortable, secure and in premium locations, such as near beaches, parks, or in residential areas," remarked one member in Philippines.

"The cost to build or purchase a home here in the Philippines overlooking the South China Sea is a small fraction of what the cost would have been in the San Diego area where we used to live. The lot is one half acre and we paid $1,800 USD. The same size lot on the ocean in San Diego, California would cost over one million USD," remarked one foreigner who made the move to Isabel.

"Bought a nice 2 bedroom home, but the title had liens dating back to 1965 so it was not conveyed. We have a lawyer working on that who will petition the court to expunge these encumbrances and issue a new clean title," explained one person living in Prudential Village, Daliao, Davao City, Philippines.

"Whether to buy or rent a home in the Philippines is a decision that should be made based on one's individual circumstances. Buying a home allows for more stability, as monthly payments remain the same and may even decrease as a result of amortization. On the other hand, renting a home can be more convenient, as one can switch properties more easily and have less responsibility with maintenance and repair costs. Both options have their merits, and the decision should be based on factors such as lifestyle, budget and expected length of stay in the country," said one expat in Philippines.

"I am renting with an eye on building something on leased land. It is made difficult, mostly by cheap available rents," remarked one member in Cebu City.

"1. Foreign nationals are not allowed to own land in the Philippines, but they can own a condominium in their own name. 2. Foreigners can hold up to 40% of the shares of a Philippine corporation, which can then purchase land or other real estate on the foreigner's behalf. 3. Real estate transactions are subject to documentary and registration requirements, including the submission of valid identification of all parties involved. 4. Mortgages are available from Philippine banks, although some banks may require the borrower to have a valid resident visa. 5. When buying property it is important to research the area and check zoning regulations. 6. It is recommended to enlist the help of a reputable lawyer to help you understand the local laws and regulations, to inspect the property and to help you with the proper transfer of ownership. 7. Property taxes, transfer taxes and other fees are payable on the purchase of real estate in the Philippines, so it is important to calculate these costs when budgeting for a property investment," explained one person living in Philippines.

"Research on the ground. Listen for dogs next door (oh there will be!). Roosters (not if but how many and how far away!?). Obviously crime (Iloilo is very cool in that department). Use a lawyer, check title, make sure you are buying in the name of a Filipino (foreigner cannot own land here which is why they can own condos). DO NOT expect the process to be fast or "like home". You aint in Kansas Toto," said one expat in Iloilo.

"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!!!," said one person in Palawan.

"Yes, foreigners are allowed to own property in the Philippines. The Philippine Constitution allows foreign nationals to own real estate in the country, provided that the land is acquired through hereditary succession or by purchase of a condominium unit. However, foreign nationals are not allowed to own land directly, and must instead enter into a lease agreement with a Filipino citizen or corporation. The lease must be for a period of at least fifty years, with an option to renew for another twenty-five years," wrote one expat who made the move to Philippines.

"Rental properties in the Philippines often come with basic kitchen appliances, such as a refrigerator and a stove. Additionally, washing machines, microwave ovens, and water heaters may be included in some rental properties. Generally, air-conditioners and other electrical appliances are not provided in the rental properties and are the responsibility of the tenant," remarked one foreigner who made the move to Philippines.

"There are 4 main ways to find places - Facebook, online realty ads, word of mouth and driving around. There is no MLS per se here. Like other developing countries the real estate is often repped by many people trying for a sale. Going around the agent (all are called Brokers here) is not uncommon (but IMO dishonorable as hell). Unlike N America the introducing "Broker" (who is most times not a career specialist anyway) is not really involved in much more than the back and forth on pricing. After that its lawyer time," remarked one foreigner who made the move to Iloilo.

"Expats can search for homes in the Philippines by looking online for real estate listings, contacting a local real estate agent, or searching for expat-specific housing websites. They can also look for expat forums or Facebook groups to get advice from other expats who have already gone through the process of finding a home in the Philippines. Additionally, expats can look for classified ads in local newspapers or online to find potential homes," explained one person living in Philippines.