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The Philippines restrict foreign ownership to condos and in any given building foreigners can own only up to 40% of the units. Still, this country makes sense for both retirement and investment.
Real estate prices in some parts of it are unbelievably cheap. Focus on the more active areas where you would have an easier time reselling on the local market.
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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You don’t want to be limited by having to find another expat buyer when you decide to resell.
Foreigners can apply for land leases for up to 50 years, renewable for another 25 years.
Foreigners cannot own land in the Philippines. Corporations can own land, but the corporation cannot be more than 40% foreign-owned.
Foreigners married to Filipinos can own land under the spouse’s name. But, if the Filipino spouse dies or the couple separates, the land cannot be transferred to the foreign spouse.
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Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
We Value Your Privacy! We will not share your email address with anyone else, period.
To buy a house in the Philippines you need proof of funds. In short, documentation demonstrating your financial capacity to purchase the property. But, if you’re buying through your spouse, the Filipino government will need a marriage certificate as proof.
Another requirement will be a Tax identification number (TIN).
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