So I have been living in the Philippines roughly 3 months and I have to say I have found the place I want to settle. I love the hot weather friendly people beautiful women beaches mountains etc. my next step is to start looking into buying a condo by end of 2023 or 2024. I know I can buy a house or lot if I get married but I'm just not there yet I still have trust issues. I'm curious is the process of buying property as a foreigner similar to the USA or are there more hoops I have to jump through?
Buying a Condo
Tariq1983
21 August 2022 06:14:48
54
laymanm65
21 August 2022 06:44:21
34
@Tariq1983 as a foreigner you are NOT allowed to own land or houses. There are ways to protect yourself but you really need a honest lawyer (lol)
HillbillyPhilippines
21 August 2022 06:54:38
6
@laymanm65
need help with a buy a condo
Guest9272
21 August 2022 07:05:18
0
Hi Taiq,
When the initial building plans are released is the best time to buy, as unit costs increase closer to commissioning. Wealthy investors purchase prime apartments off the plan (Ayala et al.), and resell them for good profit often before the site opens.
Pros
- If you plan to remain single you'll keep your financial independence - property solely in your name.
- Possibly make money on capital appreciation as Philippines is increasingly recognised as expat living destination.
- No land-related issues, garden maintenance required.
- Possibly can sublet, like AirBnB make profit if away
- Security staff, so you can travel abroad and lock up without worrying too much
- Can control relatives moving in.
- Perhaps amenities like pool/gym/bar
- City/urban life options.
Cons
- High-rise condos very expensive cost/space compared to owning house/lot outside of city
- Not suitable if you want to expand family
- Very high (monthly) body-corporate and running fees
- Pay additional for allocated parking space
- If the management is bad you're stuck with them
- Close neighbors above and below. Possible noises.
- Small compact designs, little storage etc
Enzyte Bob
21 August 2022 07:23:35
3378
HillbillyPhilippines asked need help with a buy a condo
*********************************************
This is the second post you made on this forum, the first post you made was on May15, 2022.
There was 127 posts prior to your first post on the subject of : "If I buy land for name of my girlfriend and then do I leasing".
There was both good and bad information among them, Go back and read them.
Lotus Eater
21 August 2022 10:01:02
1313
Hi Taiq,When the initial building plans are released is the best time to buy, as unit costs increase closer to commissioning. Wealthy investors purchase prime apartments off the plan (Ayala et al.), and resell them for good profit often before the site opens.Pros- If you plan to remain single you'll keep your financial independence - property solely in your name.- Possibly make money on capital appreciation as Philippines is increasingly recognised as expat living destination.- No land-related issues, garden maintenance required.- Possibly can sublet, like AirBnB make profit if away- Security staff, so you can travel abroad and lock up without worrying too much- Can control relatives moving in.- Perhaps amenities like pool/gym/bar- City/urban life options.Cons- High-rise condos very expensive cost/space compared to owning house/lot outside of city- Not suitable if you want to expand family- Very high (monthly) body-corporate and running fees- Pay additional for allocated parking space- If the management is bad you're stuck with them- Close neighbors above and below. Possible noises.- Small compact designs, little storage etc- @gsturdee
Some enlightening bullet points there. Gsturdee what is the situation regarding Earthquakes in the Philippines vis a vis home insurance policies? I would imagine in the small print the afore event would be termed an 'Act of God' so the insurance companies are off the hook. Even if they weren't they would probably go bankrupt unless they had reinsurance preferably with a non Philippine entity.
If a bad one hit I doubt whether the Philippine govt could redress the damage anyway.
It goes without saying that condos will be more vulnerable if a big one hit.
coach53
21 August 2022 12:45:46
1552
You dont need to marry,So I have been living in the Philippines roughly 3 months and I have to say I have found the place I want to settle. I love the hot weather friendly people beautiful women beaches mountains etc. my next step is to start looking into buying a condo by end of 2023 or 2024. I know I can buy a house or lot if I get married but I'm just not there yet I still have trust issues. I'm curious is the process of buying property as a foreigner similar to the USA or are there more hoops I have to jump through?- @Tariq1983
you can solve it by make solution where foreigner own WHOLE buildings at LEASED land (25 + 25 years. Recently politicians discussed some if skip that max law.) Even real estates with house allready, can be SPLITED like that.
If you marry then a real estate will be in your WIFE'S name, although you will own HALF indirect by marriage and she cant sell it without you sign too, BUT you CANT force her to sell.
While in a NOT married LEASE solution you can decide yoursef if selling your house including the lease contract.
Btw you can NOT lease from your wife.
@Tariq1983 as a foreigner you are NOT allowed to own land or houses. There are ways to protect yourself but you really need a honest lawyer (lol)
- @laymanm65
Wrong.
Foreigners CAN own WHOLE buildings at leased land
and CAN even own part of land through a business which need land.
sekmet
21 August 2022 13:55:58
108
Would encourage renting.
Guest9272
21 August 2022 15:40:58
0
@Lotus Eater
"Gsturdee what is the situation regarding Earthquakes in the Philippines vis a vis home insurance policies? I would imagine in the small print the afore event would be termed an 'Act of God' so the insurance companies are off the hook. Even if they weren't they would probably go bankrupt unless they had reinsurance preferably with a non Philippine entity.
If a bad one hit I doubt whether the Philippine govt could redress the damage anyway.
It goes without saying that condos will be more vulnerable if a big one hit."
Most properties with mortgages have insurance built-in. Following the recent Odette Typhoon , our friends in Liloan (north Cebu) had a lot of roof and flooding damage and were paid Php1M quite readily (to their surprise), which covered their damage.
Looking at the rates now AXA for a premium Php 1200,ont covers damage up to Php 1M including Act of God, but i imagine a valuation, engineers approval etc required upon claim, police report etc. Payment up to a certain limit. Here's an excerpt from their website.
Coverage includes:
Property insurance – Protection from fire and lightning including allied perils
Robbery and burglary – Protection from loss of property due to robbery and burglary
Rent and relocation expense – Reimburses your incurred rental or relocation expenses should your home be rendered uninhabitable due to any insured perils.
Personal accident insurance – You, your spouse and your children (below 21 years old and still living with you) are covered from accidental death and permanent disablement. This also entitles you and your family for medical reimbursement if injured by accident.
Personal liability – In the event of lawsuits against you and your household, this cover will be used to pay for any claims and incurred legal expenses to defend you from third party legal liabilities due to negligence.
Household helper coverage - Protects the welfare and property of household helpers providing Personal Accident Insurance and Property Damage Protection
kristopherryanwatson
22 August 2022 21:39:27
413
I recommend long-term leasing a house.
Getting a condo is over-rated. And overpriced for an upscale 400 square foot shoe box.
Don't even bother to look into buying property if the requirement is to be married first.
been there, done that. never again. at least not for a few years when I'm much more older and wiser!
Getting a condo is over-rated. And overpriced for an upscale 400 square foot shoe box.
Don't even bother to look into buying property if the requirement is to be married first.
been there, done that. never again. at least not for a few years when I'm much more older and wiser!
coach53
23 August 2022 09:55:37
1552
Don't even bother to look into buying property if the requirement is to be married first.- @kristopherryanwatson
been there, done that. never again. at least not for a few years when I'm much more older and wiser!
But it isnt a requirement 
(See how in my post above,)
Actualy its partly BIGER protection of property legal wice for a foreigner if NOT being married if looking at the lease part,
if looking at the lease part, although by marriage foreigners own HALF of land wife own indirect by marriage right, but on the other hand wife own half of foreigner's assets too. (There are exception.)
FilAmericanMom
25 August 2022 05:18:49
860
So I have been living in the Philippines roughly 3 months and I have to say I have found the place I want to settle. I love the hot weather friendly people beautiful women beaches mountains etc. my next step is to start looking into buying a condo by end of 2023 or 2024. I know I can buy a house or lot if I get married but I'm just not there yet I still have trust issues. I'm curious is the process of buying property as a foreigner similar to the USA or are there more hoops I have to jump through?- @Tariq1983
Here's a youtube video on how to own property in the Philippines, what type of properties you can own, and what to avoid or be wary of.
Lotus Eater
25 August 2022 10:07:43
1313
A very informative video. Tks for posting
coach53
25 August 2022 12:28:57
1552
Here's a youtube video on how to own property in the Philippines, what type of properties you can own, and what to avoid or be wary of.- @FilAmericanMom
A very good video, telling all details very good 
The only I found to add is what he just mensioned short about shady lawyers fooling many foreigners to BELIEVE they are in 100 % power of business, which own land.
He said "might" be illegal, Its SURE illegal, but perhaps he just said it polite
OF COURSE using Dummies as theese scammer or incompetent lawyers do to try to get around "The Anti-Dummy law!" is ILLEGAL and have no chance to manage a proper made control...
A very informative video. Tks for posting- @Lotus Eater
Did you notice it say SAME as I have said a lot of times during many years... ?
( =Every time I have seen someone telling wrong about what foreigners can own.)
Bhavna
26 August 2022 04:48:06
36951
Hello everyone,
Please note that some off-topic posts were removed from this thread.
I would like to hear from Tariq (the initiator) ... what are your views about everything members have posted so far ?
Helpful ?
All the very best,
Bhavna
Dane Juju
31 August 2022 17:20:12
4
@Tariq1983
Condos are way overpriced in PH - but, if you have lots of salami/salapi, then by all means. Investment? Depends. if you are young jump in. 50 post , think and think again. Condos do not appreciate the same as in the West.
Lotus Eater
31 August 2022 20:23:11
1313
Hello everyone,
Please note that some off-topic posts were removed from this thread.
I would like to hear from Tariq (the initiator) ... what are your views about everything members have posted so far ?
Helpful ?
All the very best,Bhavna
-@Bhavna
Yes. Take your time though Tariq - we know you've got a hectic schedule in Angeles.
yiqipo
01 December 2022 02:45:04
27
@Dane Juju whether a property is overpriced or not is determined by the market. Many years ago we considered buying a unit at Serendra, but looking at its build quality which is not too good, the price seemed too high. But 15 years later, it has gained many times.
Nightfish
01 December 2022 11:29:18
45
@Tariq1983
Welcome!
At the now 7? month mark you're still a newbe, I'm about 1.5 years and am just now getting comfortable.
My advice - rent a house that is at least partially furnished so you don't accumulate too much stuff right away. This makes it simpler and cheaper to move, and odds are you will a couple of times.
Do Not buy anything with a door or window until you have been here for at least a couple of years!!
No ref, no car and certainly not a condo.
We are on our 4th place and are only now looking for a long term (>2 years) place to stay.
Goodluck and enjoy.
Lothar Scholz
10 December 2022 03:57:12
27
@yiqipo No the market does not determine the value of a condo. The market is the currently imagined price, mostly the wet dream of a sales price - finding the real price at which it is sold is so much more difficult as this data is almost nowhere available.
And looking at the "market price" is not giving you any answer about a resale price in the future. You need a lot of environmental knowledge to judge if a condo is overpriced. I don't think it is very hard to decide in the case of the Philippines, it is not. We saw a 15% downfall in prices in 2021 and a 10% in this year. So we are 25% down already. And consider that lots of condos were bought by chinese and they have their own apocalypse now its save to say we are still in a huge Condo/Real Estate price bubble.
Jackson4
22 March 2023 00:13:55
618
Tariq, you open topics then you don't acknowledge the good people of expat.com that contributed to your forum.
How are you?
Jessy Goder
22 March 2023 03:37:25
4
@Tariq1983 Good morning, I am a Property Consultant here in the Philippines.. As a foreigner, you can purchase a condominium unit with 100% ownership. And if you are planning to purchase a property with land, there is a loophole in it that can apply for foreigners. 1.) You can purchase a property if you have a corporation here in the Philippines or you can buy a property if the developer offers a title the same title of the condominium.
Enzyte Bob
22 March 2023 04:52:25
3378
@Jessy Goder
The poster Tariq 1983 has returned to the states.
Previously a post of yours was removed because it was spam.
Oct. 18, 2022
Lotus Eater
22 March 2023 10:45:24
1313
@Enzyte Bob
Yes indeed. Quite a sad story really. A bar girl in Angeles popped his balloon and cleaned him out. He is now back in New York state truck driving. 
Kampkos104
22 June 2023 05:33:46
32
I know this subject has been beat into the ground, but about buying property and staying protected. Can a foreigner be designated as "Special Power of Attorney" over property?
Regards
Keith
bigpearl
22 June 2023 06:27:50
3131
I know this subject has been beat into the ground, but about buying property and staying protected. Can a foreigner be designated as "Special Power of Attorney" over property?
Regards
Keith
-@Kampkos104
Interesting question, perhaps consult your attorney as we do, depending on your situation. My Sis in Oz has power of attorney over my long term lease and buildings here in PH as well as encumbering the title with the lease, land can't be sold unless I or upon my demise My sis holds all the cards, research and research again.
Cheers, Steve.
Kampkos104
22 June 2023 06:46:23
32
I know this subject has been beat into the ground, but about buying property and staying protected. Can a foreigner be designated as "Special Power of Attorney" over property?
Regards
Keith
-@Kampkos104
Interesting question, perhaps consult your attorney as we do, depending on your situation. My Sis in Oz has power of attorney over my long term lease and buildings here in PH as well as encumbering the title with the lease, land can't be sold unless I or upon my demise My sis holds all the cards, research and research again.
Cheers, Steve.
-@bigpearl
Thanks Steve, "research and research again" is solid advice. I have a real estate lawyer that I have worked with.
bigpearl
22 June 2023 06:58:09
3131
I know this subject has been beat into the ground, but about buying property and staying protected. Can a foreigner be designated as "Special Power of Attorney" over property?
Regards
Keith
-@Kampkos104
Interesting question, perhaps consult your attorney as we do, depending on your situation. My Sis in Oz has power of attorney over my long term lease and buildings here in PH as well as encumbering the title with the lease, land can't be sold unless I or upon my demise My sis holds all the cards, research and research again.
Cheers, Steve.
-@bigpearl
Thanks Steve, "research and research again" is solid advice. I have a real estate lawyer that I have worked with.
-@Kampkos104
Make sure if you buy a condo you have the appropriate title, CTC or what ever the other one is called are 2 different things, also remember that the condo you purchase from new will probably be demolished in 40 to 50 years to make way for "apparently modern".
Good luck.
Cheers, Steve.
Kampkos104
22 June 2023 07:51:36
32
I know this subject has been beat into the ground, but about buying property and staying protected. Can a foreigner be designated as "Special Power of Attorney" over property?
Regards
Keith
-@Kampkos104
Interesting question, perhaps consult your attorney as we do, depending on your situation. My Sis in Oz has power of attorney over my long term lease and buildings here in PH as well as encumbering the title with the lease, land can't be sold unless I or upon my demise My sis holds all the cards, research and research again.
Cheers, Steve.
-@bigpearl
Thanks Steve, "research and research again" is solid advice. I have a real estate lawyer that I have worked with.
-@Kampkos104
Make sure if you buy a condo you have the appropriate title, CTC or what ever the other one is called are 2 different things, also remember that the condo you purchase from new will probably be demolished in 40 to 50 years to make way for "apparently modern".
Good luck.
Cheers, Steve.
-@bigpearl
Too late Steve, I have already purchased 1.6 hectars in Claveria. Her son is actual title owner and she is Power of attorney. Yes, a real leap of faith, but I can recover if things do go sideways. She won't take a dime from me, I even offered to pay for the annulment. She has done all the paperwork, clean title, taxes everything. I got lucky, "best damn woman that I've ever seen". (AC/DC).
Regards
Keith
Lotus Eater
22 June 2023 09:33:23
1313
@Kampkos104
"best damn woman that I've ever seen"
They all are Keith
antonioggriffin
02 September 2023 19:32:59
64
@Lotus Eater whaaaaaaat!!!!????
Are you serious😳😳😳😳.
I know this is a old post, but I'm new here in this forum
Lotus Eater
03 September 2023 09:44:07
1313
Welcome to the Forum Antonio
antonioggriffin
06 September 2023 18:29:02
64
@Lotus Eater 🙋♂️🙂Hello.. I'm curious what happened to the expat Tariq1983 in Angeles??
Lotus Eater
06 September 2023 22:05:55
1313
@antonioggriffin
Let's just say Antonio (and not to put too fine a point on it) that he dipped his pecker into the honeypot once too often.. 
Enzyte Bob
07 September 2023 00:45:41
3378
antonioggriffin asked Lotus Eater . . . . I'm curious what happened to the expat Tariq1983 in Angeles??
*************************************
It seemed Tariq1983 moved to the Philippines with limited savings and used monthly student loans (US) to live in the Philippines. He attempted to have a Youtube blog which had no subscribers and no income.
Living in Angeles City he succumbed.
Lotus Eater
07 September 2023 08:09:19
1313
@Enzyte Bob
Living in Angeles City he succumbed.
Indeed Bob. "Watch and pray that you may not enter into temptation. The spirit indeed is willing, but the flesh is weak.”
Matthew 26:41
God Bless
Lotus Eater
07 September 2023 13:37:47
1313
@Enzyte Bob
It seemed Tariq1983 moved to the Philippines with limited savings and used monthly student loans (US)
The recent US Supreme Court ruling means he will have to pay these loans back.
Poor lad. He's been shafted by the worlds oldest profession and one of the most hallowed institutions in the world.
So I guess it's over to Eddie Kendricks (ex front man for the Temptations)
Enzyte Bob
07 September 2023 14:25:27
3378
I (Enzyte Bob) said . . .It seemed Tariq1983 moved to the Philippines with limited savings and used monthly student loans (US)
*********************************************
Lotus Eater replied. . . The recent US Supreme Court ruling means he will have to pay these loans back. Poor lad. He's been shafted by the worlds oldest profession and one of the most hallowed institutions in the world. So I guess it's over to Eddie Kendricks (ex front man for the Temptations)https://www.youtube.com/watch?v=Eke-oF3Vh6s
********************************
I replied to Lotus Eater . . . .The current administration is trying to get a portion of student loans forgiven.
The student loan thing is administered so poorly, the money is paid to the student. I've heard of students buying cars and on a popular TV judge show the plaintiff promised to pay back the cost of an I-Phone when her student loan came through.
Student loan debt surpasses all the money owed on charge cards.
Student Loan Debt: $1,500,000,000 (1.5 Trillion)
Credit Card Debt: $986,000,000 (986 Billion)
Enzyte Bob
07 September 2023 14:29:16
3378
I (Enzyte Bob) said . . .It seemed Tariq1983 moved to the Philippines with limited savings and used monthly student loans (US)
*********************************************
Lotus Eater replied. . . The recent US Supreme Court ruling means he will have to pay these loans back. Poor lad. He's been shafted by the worlds oldest profession and one of the most hallowed institutions in the world. So I guess it's over to Eddie Kendricks (ex front man for the Temptations)https://www.youtube.com/watch?v=Eke-oF3Vh6s
********************************
I replied to Lotus Eater . . . .The current administration is trying to get a portion of student loans forgiven.
The student loan thing is administered so poorly, the money is paid to the student. I've heard of students buying cars and on a popular TV judge show the plaintiff promised to pay back the cost of an I-Phone when her student loan came through. Student loan debt surpasses all the money owed on charge cards.
Student Loan Debt: $1,500,000,000 (1.5 Trillion)
Credit Card Debt: $986,000,000 (986 Billion)
Cherryann01
07 September 2023 16:38:17
977
I think that Tariq was a trucker back in the States so maybe he has returned and was able to get his rig back.
Subscribe to this topic
Articles to help you in your expat project in the Philippines
Accommodation in Manila
There are lots of renting options to choose from when relocating to Manila. Most expats in the Philippines live in ...
Accommodation in Davao
Davao is an established metropolitan area with its capital, Davao City, catching up to the main Philippine cities ...
Accommodation in Iloilo
Iloilo, nicknamed the 'Heart of the Philippines', is a province stretching over 4,663 km² in the ...
Accommodation in Cebu
Located in the Visayas region, 750 km from Manila and West of the Negros Island, Cebu is one of the major ...
Buying property in the Philippines
If you, like many foreigners before you, have fallen in love with the Philippines, you might be considering buying ...
Accommodation in Cagayan de Oro
Cagayan de Oro (CDO) nicknamed the 'City of Golden Friendship' is a highly urbanized city located in ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"