This about buying a condo in the Philippines?

Question

Under Philippine law non Filipinos can not own land, only structures. You can lease the land from a Filipino. However you can own a Condo or Townhouse. In the case of Condos, my question is a simple one; what are the usual monthly fees that are part of owning a Condo. I only wish that here in the US we had similar restrictions

Answer 1

The fees would only be the shared costs for the building's security and maintenance, plus cost of utilities in shared/common/public areas like corridors and lobbies.

The rate depends on the size of the unit. The computation is on an amount per square meter basis.

I have a place where I pay P6,000.00 (equivalent of US$140.000 per mont). Rates vary by condo type and location.

Of course, this does not include the cost of utilities for your unit, like your own water and electricity, telephone and cable bills.

Answer 2

Usual fees would be:
1) Condo association fees
2) Maintenance fees
3) Property tax

the actual amount is dependent on the Condominium by-laws (1&2) as well as the cut/size (1,2 &3 ) of the condo you purchased.

Answer 3

Owning a Condo in the Philippines is the same as owning a condo here in America. You pay the normal monthly maintenance fee. Depending on how expensive or luxurious your condo is also depends on how much you are going to pay.

Answer 4

i'm interior the interior layout organisation and that i've got an incredible style of apartment vendors as clientele. What I advise is so which you may seek for a specialist agent. they are people who could supply you plenty techniques based on your specs on area, unit length, cost selection, how old or how new the instruments is, and handbook you by using the sale, consisting of documentation. a specialist agent does not make money by using including directly to the fee. They derive earnings from commissions. Thr actuality is that direct shoppers do no longer save because of the fact the valuables vendors will insist on the listed cost whilst there's no agent. brokers get the commissions because of the fact they quite much continuously are people who locate shoppers. the quantity of transaction they cope with cause them to substantial, and makes them deserve the fee. Bottomline, you get all thes centers for unfastened. in actuality, in an incredible style of circumstances, they are in a position to barter the charges down because of the fact they know how incredibly maketable a unit is. The agent will additionally handbook you and practice you all obtainable instruments. there is no longer something greater helpful than particularly seeing many techniques. maximum householders come to a call on the inspiration of "experience". people at once know despite the fact that if or no longer they'll like a place.