Philippines
What do I need to know when buying property in Philippines?
When we asked expats what advice they would give a foreigner before buying a property in Philippines, they said...
"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 another expat in Iloilo, Philippines.
"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," wrote a member who made the move to Philippines.
AGS Worldwide MoversGet Quote
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
AGS Worldwide MoversRelocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Get Quote
Please login to continue reading this article.
Not a member? Join Today (it's free).
Other Questions:
- What do I need to know before retiring in Philippines?
- How do I meet people in Philippines?
- What is life like in Philippines?
- Is there a lot of crime in Philippines?
- Is there a lot of diversity? Are people in Philippines accepting of differences?
- What are the schools in Philippines like?
- Is the cost of living in Philippines high?
- What advice do you have for expats having a baby in Philippines?
- What are healthcare services like in Philippines?
- Is the cost of living in Philippines high?
- What type of recreational facilities are in Philippines?
- What is the weather like in Philippines?
- Are there good restaurants in Philippines?
- Where will I buy groceries and do other shopping in Philippines?
- What are the visa & residency requirements in Philippines?
- Are healthcare and health insurance expensive in Philippines?
- What do I need to know when buying property in Philippines?
- Are foreigners allowed to own property in Philippines?
- What appliances are typically included in a rental?
What do I need to know when buying property in Philippines?
If you live in Philippines, newcomers to Philippines would love to hear your answer to this question:
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
