planning to buy house in cebu for 1million peso

Aurélie wrote:

Hello aldirassa.

Do not forget that you have the Housing in Cebu section. You could post an advert there.

Thank you,
Aurélie

I assume you can only mean a house in Cebu in the province?
Recently a German build a 50 sqm unit in Balamban for half a Million, simple and no tiles, paint etc. completed it would costs about a million.
However, he had the lot already !
Not that it isn't doable, just to find one finished is "dreamland" or luck.

City :

You may be lucky acquiring some smallish Unit somewhere, but it certainly won't fit anywhere near your Standards.

In METRO Cebu City area you may find some tiny town-houses in very crowded places, but the chance to get those is as remote as a lottery win.

I recall, in 1998 when I first arrived here, there were tiny Units in some Subdivision ( 24 and 35 sq) offered around that price, but all of those are now priced at 2.5 million (USED!). I should have bought one back then but I did not believe then that the Market shoot up like that.

New ones now cost 2.5 and up.

The further away from the city, the cheaper they become, also in building standards.


Rule of thumb for Cebu City - Contractor Building Prices are 18.000 php per sqm now.
Luxury is 28.000 and up..

Cheers

crosz wrote:

Hi Apple. I'm a In house seller in one of the leading developers in the Philippines and I am based here in Cebu. I would just like to ask since you mentioned that you are from Sweden, are you swedish or a filipina married to a swedish? Foreigners cannot buy nor own a house and lot in the Philippines, not even town house, but if you are a born filipina married to a foreigner, it's possible. We have one residential project that is a house and lot, situated in Talisay City, and the price is P1.9Mn.

Not totally true!!!!   "Foreigners cannot buy nor own a house and lot in the Philippines, not even town house"   All foreigners can own a condo, townhouse if and when the property was developed and registered with CCTs and the total units sold to foreigners does not exceed 40%.   A foreigner can own a house or building placed on land with a TCT if there is a min 25 year lease in the foreigner's name and the terms of said lease are recorded with the TCT (of course with a Phil owner/lessor on the TCT).  It is said, "The Condominium Act of the Philippines, R.A. 4726, expressly allows foreigners to acquire condominium units and shares in condominium corporations up to 40 % of the total and outstanding capital stock of a Filipino owned or controlled condominium corporation."  However, One must search hard for a "Townhouse" built with a CCT but I have seen them in Metro Manila. 

Once the units (condo/townhouses) are released to be built on property with a TCT, I am not aware of a method where a foreigner can come along and wish to purchase said unit and suddenly the TCT titles are transformed to CCT titles.....

garyww wrote:

Talk to me about people cheating after you have lived here a few months.

Hmmm, I thought that after having lived there for a while the people would start to know you and now that your not an easy Kano target?

But, you're right, I will have to find out for myself.... in the not too distant future.

Cheers

garyww wrote:

You should think long and hard before buying in the Philippines. This is a third world country with very little infrastructure.  The prices are way too expensive for the quality.  I have seen so many foreigners come in and buy or build, paying US prices and can never sell them to get their money back.  Resale is almost impossible for the prices.  Rent for a year or so before you buy.  And remember, everyone here will do their best to cheat you. Everyone. Period.

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Unfortunately, this is all very true, all the way down to the cheat part.

If one buys and builds a house, with the idea of a dwelling of Western standards, it's going to be expensive to build and the only way you'll ever get most of your money back out of the home is if you sell to another foreigner, this is almost written in stone. There are wealthy Filipino's but the chances are pretty slim that you will know or interact with them. They buy, sell, and deal differently than Westerners.

I think the operative word here is "living standards" and what someone from the West, wants, (needs), and is willing to accept. These "standards" are well beyond "the Philippino's" ability to pay, or even simply maintain. That is electric, water, and just the basics of running and maintaining a Western household is beyond what "the Philippino" can afford.

So when you build, you are building a home for the privileged class, even though it's not your intention, and not in your thoughts at the time, but that is the end product. And if you ever sell, it's almost mandatory that the buyer be someone like you. Bearing in mind that the someone(s) like you... don't grow on trees in the Philippines, they are quite rare. 

And as the gentleman above mentioned, about infrastructure, there isn't much of one here. So the home you build to Western standards, is really more of an anomaly, that does not fit into the prevailing infrastructure, the home you build is in general well out of reach of the everyday Philippino. The old saying out West is that remember when you "buy the farm, you own it", meaning; there's not an easy way out. The rule applies nicely here in the Philippines.

Rent for a year, or two, maybe even three... If you make it through the 3rd year, you can safely "buy the farm" because you already own it, by knowing and understanding the prevailing culture, there won't be too many surprises left.

Senutyenool wrote:

Apart from everyone here will trying to cheat you, which from what I have read here and in other forums is a load of bullchips.

What I'm interested in does anyone have thoughts on buying/renting/living in the Benguet province, or provinces just outside that area as I wan't to get as far away from the rat race as possible.

Cheers

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"I wan't to get as far away from the rat race as possible."


It's easy enough to get away from the rat race here in the Philippines, dirt floor shacks made from coconut leaves, no bathroom, electricity, refrigerator, the windows, if they have windows, have no screens, insects come and go like they own the place because they do, ants march across the table as you eat, with the flies buzzing and eating (your) food right along with you. The rats are as big as cats, and the cats don't chase the rats and dogs don't chase the cats, everybody has given up.  Yes, it's easy to be "far from the maddening crowd here". And, ascaris lumbricoides, well... they need to eat too. Not to worry, one can do it like they do on the discovery channel here in the Philippines.

Senutyenool wrote:

Hmmm, what can I say....  That was helpful...NOT!

Thanks for no help, appreciate it /sarcasm

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Dear Brother,

In the poker game of life, sometimes sarcasm can be a real good card.

Useful? Yes! The post was a bit of the hard hitting (reality) of those who (live here) and have no "rat race" to leave, or get away from. Hard hitting yes, useful yes, because of the stark reality of its truth.

Slight pivot, I checked for flights to Baguio too, from in country, Manila, Cebu, Davao, anywhere...I couldn't find any, if anyone knows of such flights please post them here, or on the "flight to Baguio" thread. I've been to Baguio a couple of times, I rented a private van out of Balibago Fields Ave area, but I think the best, and maybe the smartest way to go is via the bus station in Angeles City, a fifteen minute ride in a taxi from Clark AFB to the bus station. Take an express air conditioned bus, and keep your jacket handy, you can relax and enjoy the ride and scenery.

Happy trails.

garyww wrote:

Talk to me about people cheating after you have lived here a few months.

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Yes, there is little need to talk of "tears wasted crying in the rain", and innocence lost, so early on the day. However once one walks out of the airport and the wolves waiting move in, then... the tears and innocence all begins to make sense.

But then again, there are those who say what the fhck, a few K here a few K there, does it really matter? The short answer is yes...everything matters.

leebeme wrote:

I do not disagree with you at all and i truly love those sayings, but i have always been a fool that must fail for himself first! I am not going to do the option i gave. i am having my wife buy it! This is also the first time i got married and i may be wrong to trust her, but I love her and again I have to learn the hard way!

One other quotI  i like, "you only fail when you give up"

Certainly not wrong to trust her.
Good luck with your first marriage and have a long happy life together...