What  expats need to know?

Expats can only own condominium or townhouse and not property (unless they have a Filipina spouse. Inheritance of property will go to their Filipina children).

Foreigners cannot own land, and can only own condominiums or townhouse with foreign proportion not exceeding 40%. They can buy house but not the land on which it is built. Lease on land is up to 50 years and it is renewable for another 25 years.

Transaction costs are very high. This means that the buyer needs to bear most of the costs.

Is this the time to buy yet?

The prices of the properties are rising again and the trend has been picking up these few years. Well, many buyers are optimistic on the Philippines economy. Philippine President Gloria Macapagal Arroyo has signed a new law for the regulation of all matters that are connected to real estate in Manila and in the entire country. The Real Estate Services Act (RESA) is said to have been enacted in line with the continuous growth of the country’s real estate industry.

What is the favourite property type in Manila now?

Condominiums in Manila have become the favourite of home buyers among the various properties in Manila. There are now more new development of high end condominiums to cope with the arising demands of locals as well as foreign buyers.

How about rental?

An expat or foreigner or foreign corporation is allowed to lease a land on a contract basis for a 50 years period. However, the leasing period can be renewable for every 25 years. Note that an expat can rent a lot and own the house on the rented land during the rental period.

1st – Always make sure that the Transfer Certificate of Title is authentic. You may check this out by obtaining Certified True Copy from the Register of Deeds.

2nd – Make sure that the property that you are going to buy is ‘clean’. This means that the property is not mortgaged. You can check this out by referring to the back of the Title and see that there is without the word ‘Encumbrances’ printed on it.

3rd – Make sure that the land that you are buying is really the one that you are going to buy. This can be validated at the Register of Deeds. Because land do not have any street name or any number to it. Do take extra precautions on this.

4th – Make sure that the sellers are the real official owners. You do not want to end up paying to the wrong person. Always asked for certified Tax Declaration or Original Tax Receipts.

It is worth to note that foreigners cannot own land, but can only own condominium or apartment in high rise buildings with foreign proportion not exceeding 40%. They can buy house but not the land on which it is built. Lease on land is up to 50 years and renewable for another 25 years are available.

However, good and reputable real estate companies and it can always be a good helper for those who are looking for property in the Philippines no matter it is for sale or rental.

Condominium At Manila, Philippine

Are you planning on buying Philippine property but are confused how to buy and where to invest money in? Buying property is no wonder, one of the most daunting tasks since it entails quite a large sum of money. However, with so many online sites offering Philippine property services, buying and selling properties has become quite convenient.

These online Philippine property sites give detailed description of the Philippine property that can be bought. Whether you want to buy a Philippine property or intends to sell out your property, you had better get registered with one of these innumerable Philippine property sites. Their property agents will help you find the perfect property in Philippine that you want to buy, be it a beachfront property, agriculture lands, condo units/townhouses, apartments or any other type of Philippine property. The rates are also usually affordable. You need to pay a nominal sum of commission to these online property sites, for helping you in your property hunt.

Philippine property can effortlessly be bought or owned by the Philippine citizens or born Philippine nationals. However, there are some rules and regulations for the foreign nationals to follow, while buying a property in Philippine. So, do check out these rules beforehand.

Living Room

There is a plethora of online sites that offer rent a house services. These sites have separate categories for those who want to buy rent a house and those who want to sell a house for rent. This makes it easier for everyone to utilize the site’s services quite conveniently. Most of the online sites, providing rent a house services do not ask for commission and in case if they do, it is usually a nominal sum in comparison with the amount of convenience they have brought in your lives. Usually these sites give all the necessary information like the exact location of the apartment, house or villa for renting out, the area it covers, the number of rooms, extra facilities etc. Plus they also give images of these properties; so that you could easily decide upon which house or apartment to buy for rent a house.

Finding On Sale Houses?

To find a house for sale is not difficult at all in this time and age. You do not just have the option of skimming through newspapers and classifieds but you can take help of internet as well in your house for sale hunt. To find a perfect house for sale via internet is really convenient than paying visits to the property dealers’ offices. The latter one demands commission which in most cases, you are saved of in the former case. Moreover the online sites offering house for sale services also are very productive in terms of results.

Sites offering house for sale services are beneficial both for the sellers and the buyers. Being viewed by thousands of potential buyers everyday; these sites prove advantageous for the sellers and having a number of choices in real estate to choose from is an advantage, enjoyed by the buyers. Many of these online real estate sites enable you to cut the deal directly with the owner of the house for sale which is really economical. Moreover, you are also provided with the needed information about every house for sale along with images on these sites, so that u could make a choice easily. However, make sure the online site you use for buying a house for sale, is legal and authentic.

Selling Property Online

The online real estate sites contain all the necessary information regarding each and every property available for buying or renting out. The real estate sites are actually great platform for selling out property as internet makes your property get viewed by millions of people, which is impossible if you take help of a usual property agent. Since these sites have become a preferred way of buying, selling and renting property, you will absolutely find your dream property; it may be a house at a perfect location, a farmhouse, an apartment near your office or any other type of real estates. So, you had better get yourself registered with some of the renowned real estate sites to see fast results.