2006-11-05 01:12:56 · 7 answers · asked by GP M 1 in Travel ➔ Asia Pacific ➔ Philippines
Foreign nationals are not allowed by Philippine law to own properties except a condomium. This particular provision was incorporated in the Condomium Act passed and signed into law in the Philippines several years ago. This is intended to give more flexibility to foreign nationals who wish to own and stay in the Philippines. However, foreign nationals who use to be Filipino citizens can own properties with certain limitations:
a) For residential purpose – 1,000 square meters of urban land or one hectare of rural land.
b) For business purpose – 5,000 square meters of urban land or three hectares of rural land.
Although there are cases in which foreigners marry Filipino citizens and purchase properties under the names of their Filipino spouses and some put names of some "dummy" Filipino friends in the property titles so they could do away with restrictions.
2006-11-05 13:41:35 · answer #1 · answered by Ces B 2 · 2⤊ 0⤋
I think you can own condo units but not a lot property unless your married to a filipina. In Manila, I dont know too much there, But in Bicol Area like Legaspi City and Sorsogon City, its not that hard to buy property there as long as you a qualified and has all the neccessary docs. If you think your looking one there... email me, I know someone there who sells property and at the same time he help foreigners process the transaction. The last time i heard from him, hes selling a 660 commercial lot with building and improvements located at sorsogon city. let me know ill get you thru.
lots of places to invest... http://philippine-destinations.blogspot.com/
2006-11-05 10:54:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
CES B has given a good answer, you can buy a condo on a 70 year lease.
If you are a permanent resident you can use your dollar deposit to do this, in full or part.
There were plans in the pipeline to enable foreigners to buy land, but all seems to have gone quiet on that front.
2006-11-05 18:54:49 · answer #3 · answered by Tropic-of-Cancer 5 · 0⤊ 0⤋
Foreigners are not allowed to buy property in the Philippines unless you are married to Filipino. or you are already an Alien Certified Residence of the Philippines.
2006-11-05 01:24:00 · answer #4 · answered by Linda 4 · 0⤊ 0⤋
i believe it is possible for a foreigner to buy an apartment outright.
But not to buy land or a house.
last time i checked this was some years ago im afraid. good luck.
2006-11-05 02:29:00 · answer #5 · answered by deni fly 1 · 0⤊ 0⤋
Meet a "local" in a bar and pay 4x the going price.
2006-11-05 21:17:32 · answer #6 · answered by Anonymous · 0⤊ 1⤋
http://www.youtube.com/watch?v=RlVHs0Wo9S0
2006-11-05 01:19:51 · answer #7 · answered by Anonymous · 0⤊ 1⤋