# Buying a house/ apartment



## Bobgall (Jan 11, 2016)

Hi Everyone

I'm looking for information on purchasing property in the Phils. Things like laws, process, pitfalls etc. Also, is there a good real estate web site where I can get some idea of the market and prices?

Any help would be appreciated.


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## Asian Spirit (Mar 1, 2010)

Bobgall said:


> Hi Everyone
> 
> I'm looking for information on purchasing property in the Phils. Things like laws, process, pitfalls etc. Also, is there a good real estate web site where I can get some idea of the market and prices?
> 
> Any help would be appreciated.


Good Morning,

Long story short -- A foreigner can not buy or own property in the Philippines. Naturally, people will try to sell you something when looking. But the fact will remain that it is not legal and you then would own nothing.

On the other hand, if you are married to a local, that local can own the property that you pay for. In a separation though, you would still own nothing.
You can however own a condo but not the land it sits on. If you go that route, come here to look around and do not deal with any person or real estate agent from out of country - no matter how legit they seem.



Best Of Luck


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## JRB__NW (Apr 8, 2015)

A lot of expats here in Cebu seem to own condos. If I wasn't already real estate heavy in the US I might consider it, however I get a great return there so no big deal. You can buy a nice (but small) 1 bedroom condo here with good amenities, security and killer views for about $100-150K. Prices have been going up and they're building everywhere it seems.


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## Cebu Citizen (Dec 13, 2013)

Jet Lag said:


> Good Morning,
> 
> Long story short -- A foreigner can not buy or own property in the Philippines. Naturally, people will try to sell you something when looking. But the fact will remain that it is not legal and you then would own nothing.
> 
> ...




BOBGALL...this is AWESOME ADVICE and Jetlag has told you the current foreigner laws regarding the purchase of property here in the Philippines. Foreigners are allowed to own a condo, (being a part of the Condo Corporation which actually owns the land the condo units sit on), and a foreigner can also own a business as long as your partner is Filipino or the partnership is at least 51% Filipino owned, (and the partnership owns the land the business sits on), or if you are married to a local Philippine National...they can own the land your home sits on.

In ALL cases, your Filipina wife...or a Condo Corporation...or a business partnership will own the land you pay for and you will technically own nothing and your investment will rely directly on your relationship with your wife or business partners.

The condo corporation route is probably the safest as there are multiple regulations and laws in place to protect the foreigner because foreigner condo purchases is a big business here in the Philippines.


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## Bobgall (Jan 11, 2016)

Thanks guys for your comments.

Cebu Citizen, re: Condos....Would this include what we call " townhouse complexes" here in Australia? That is, individual houses in a larger complex and part of an " Association". In other words, identical to an apartment, but a small house instead. Are the laws for these developments identical?


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## Phil_expat (Jan 3, 2011)

Bobgall said:


> Thanks guys for your comments.
> 
> Cebu Citizen, re: Condos....Would this include what we call " townhouse complexes" here in Australia? That is, individual houses in a larger complex and part of an " Association". In other words, identical to an apartment, but a small house instead. Are the laws for these developments identical?


A town house sit on it's own land. No one above or below so same as a home. You can not buy.


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## CodyDeegan (Jul 21, 2015)

From what I know, a foreigner is not allowed to purchase land property under his/her name but may be allowed if under the name of spouse. Also I think you are allowed to purchase a condo unit.


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## Gary D (Oct 28, 2013)

Bobgall said:


> Thanks guys for your comments.
> 
> Cebu Citizen, re: Condos....Would this include what we call " townhouse complexes" here in Australia? That is, individual houses in a larger complex and part of an " Association". In other words, identical to an apartment, but a small house instead. Are the laws for these developments identical?


I think the important criteria is that the property is what we in the UK call lease hold, i.e. the land ownership is seperate to the property. The shape and size is of no importance. I have not seen a townhouse complex in the Philippines but that's not to say they don't exist.


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## aracasa (Jan 21, 2016)

It depends on the title of the property. if there is a townhouse project has a cct instead of a tct, then as long as it follows the 60-40 ownership rule. then foreigners are allowed to buy that certain project.


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## Bobgall (Jan 11, 2016)

Can you explain the acronyms?


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## GareBear (Jan 22, 2016)

TCT – Transfer Certificate of Title
CCT – Condominium Certificate of Title

With TCT someone OWNS the property

With CCT, someone owns a lease to the property for a period of time.


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## Cebu Citizen (Dec 13, 2013)

Bobgall said:


> Thanks guys for your comments.
> 
> Cebu Citizen, re: Condos....Would this include what we call " townhouse complexes" here in Australia? That is, individual houses in a larger complex and part of an " Association". In other words, identical to an apartment, but a small house instead. Are the laws for these developments identical?


Bobgall...in a word *"NO"...*there are a few townhouse properties here in the Philippines and I have viewed a few of them before I purchased my condo and the same is true in this case. The Townhouse sits on it's own little parcel of land within the community and as a foreigner, you cannot own it. Townhouse land has a deed of absolute sale here in the Philippines. *ALL* land in the Philippines must be owned by a Philippine National...outsiders are *NOT* permitted to own land in any way, shape or form unless as mentioned earlier, as part of a partnership in which the majority owners of the said partnership are Filipino citizens.

This does however bring up another interesting question. What happens *"IF"* a foreigner chooses to become a citizen of the Philippines and carry a Philippine Passport...Does this give them the right to purchase and own land? Anyone know the answer to this question? Can a foreigner become a Philippine National in the sense of land ownership?

I know I could not do this because of my Social Security, VA disability pensions and retirement from the US...I would lose everything if I gave up my US Citizenship...but for some, maybe this is the answer if land can be owned by becoming a Philippine National.

(Unlike in America where it is expected that in the very near future, the vast majority of land ownership in the US will be owned by those other than US Citizens!). IN the US, if you have money, you can buy land...here in the Philippines, land ownership is a National Birthright.

Hope this helps...


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## Cebu Citizen (Dec 13, 2013)

GareBear said:


> TCT – Transfer Certificate of Title
> CCT – Condominium Certificate of Title
> 
> With TCT someone OWNS the property
> ...


Here in the Philippines, there is another term used, (DAS). I own a condo unit in Paranaque City, Metro Manila and I hold a "DEED of ABSOLUTE SALE" in four parts. *Part One* is for the *Condominium Unit* itself. *Part Two* is for a *Service Area*, (laundry/storage). *Part Three* is for a *Covered Automobile Parking Space*. And *Part Four* is for a *Covered Motorcycle Parking Space*.

I am not sure why the Condo Corporation makes everything so complicated by selling everything to me in one sale but then they break it all down into four parts in the paperwork!

I have owned these four pieces outright and all financial amounts have been fully satisfied and this is ALL that has been issued to me...a DAS. I have had everything checked and verified by a reputable attorney skilled in foreigner affairs here in the Philippines and he has told me everything is in order and I am the rightful and legal owner with only this document which is filed in the courts.


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## lets_take_a_look (Nov 18, 2015)

Do you know where in the Philippines would you like to live or, barring that, what kind of lifestyle you want to have here?


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## GareBear (Jan 22, 2016)

It may have something to do with they allocate a 40% foreign ownership


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## GareBear (Jan 22, 2016)

I have not decided, the where yet, but I do want a place in Manila possibly around the MOA/Pasay area, for the nightlife, I would also like a hideout spot, near the beach, I have thought about building a poultry farm, in the province.


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## Gary D (Oct 28, 2013)

Cebu Citizen said:


> Here in the Philippines, there is another term used, (DAS). I own a condo unit in Paranaque City, Metro Manila and I hold a "DEED of ABSOLUTE SALE" in four parts. *Part One* is for the *Condominium Unit* itself. *Part Two* is for a *Service Area*, (laundry/storage). *Part Three* is for a *Covered Automobile Parking Space*. And *Part Four* is for a *Covered Motorcycle Parking Space*.
> 
> I am not sure why the Condo Corporation makes everything so complicated by selling everything to me in one sale but then they break it all down into four parts in the paperwork!
> 
> I have owned these four pieces outright and all financial amounts have been fully satisfied and this is ALL that has been issued to me...a DAS. I have had everything checked and verified by a reputable attorney skilled in foreigner affairs here in the Philippines and he has told me everything is in order and I am the rightful and legal owner with only this document which is filed in the courts.


The DAS is really just and official receipt and the reason it's in four parts is that you have paid for four options. Depending on your circumstances and wealth will depend on how many options you take up, they will all be priced seperately. To have both a car space and motorcycle place makes you really rich.


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## devie.perez (Feb 25, 2016)

Hi Bob,
Prohibition on you owning land here is absolute which means that as a foreigner you cannot own it even if you have a Filipina spouse. So what foreigners like you do is that the property is in the name of the Filipina wife.

But you may buy condo units as long as the 60/40 percent foreign equity ownership in the condo corp is met.

<Snip>


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## Kobe81 (Feb 28, 2016)

Yes, as previously mentioned the best option is buying a condominium, on this case being the principal buyer you don't need to name it to your partner, in case of separation property is completely to your ownership. By certain circumstances too you can dispose of the unit easily in case you want to sell it over.


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## Gary D (Oct 28, 2013)

Kobe81 said:


> Yes, as previously mentioned the best option is buying a condominium, on this case being the principal buyer you don't need to name it to your partner, in case of separation property is completely to your ownership. By certain circumstances too you can dispose of the unit easily in case you want to sell it over.


I think before buying a condo you need to be really sure that is what you want. Don't believe the sales hype, the expected life span of a condo is about 50 years (government figures), the plumbing and wiring will be shot by then and the lifts will likely have failed. And on a majority vote it can be pulled down. Also there is a major oversupply so selling on need a vast amount of luck.


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## Asian Spirit (Mar 1, 2010)

Gary D said:


> I think before buying a condo you need to be really sure that is what you want. Don't believe the sales hype, the expected life span of a condo is about 50 years (government figures), the plumbing and wiring will be shot by then and the lifts will likely have failed. And on a majority vote it can be pulled down. Also there is a major oversupply so selling on need a vast amount of luck.


Thanks Gary, That is exactly right. One needs to remember where we are. Not only are laws not strictly enforced here for buyer protection, but advertisers can and do tell you anything you want to hear when attempting a sale or sales lead-in.

For those reasons this thread is now closed :closed_2: and I would not expect another like thread to takes it's place .



Jet Lag
Moderator


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