10 Reasons Why Filipino EXPATS Are Buying Philippine Real Estate

Published Date : January 24, 2022 Article Buying Property Buying Tips Community Guide Housing tips Property Recommendations Real Estate 101

No matter what part of the country you are in, real estate investments are common throughout the Philippines. It is every Filipino dream of having a home, and as economic development progresses, the Philippine housing market is slowly growing as a promising investment option. Many Filipinos prefer to invest in a townhouse in Manila. Urban housing offers the easiest way to live a life of freedom and leisure, which attracts Filipino ex-pats.

These are the ten reasons why Filipino expats are buying Philippine real estate:

  1. Worthwhile Investment

Property purchasing is an ideal investment for many. Even if you don’t do much, the value of your property will increase with time, giving you a good return on your investment. Investing in real estate is what every Filipino looks forward to, and that draws the attention of expats.

  1. Additional Income

Buying a house doesn’t necessarily mean that you have to live in it. You can rent out your property to earn some extra income. If you need help finding potential tenants, you can list your house at Housal to attract interested people. It can be a great source of income for expats.

  1. Retirement Home

Expats living outside the Philippines plan their homes for retirement. As the prices rise, it is best to buy property now than have savings to buy tomorrow. Having your own home gives you a sense of belonging.

  1. Ownership Title

Owning a house is a lifelong dream of many Filipinos; they work so hard just to buy a home for themselves. They always look forward to investing in housing as it gives them a sense of pride. They need something to consider as a result of their hard work.

  1. For Family

One of the apparent reasons expats are buying Philippine real estate is that everyone wants to earn and build for their family. They want to provide a place for their loved ones to stay. This is one of their prime reasons for buying Philippine real estate.

  1. Less expensive

In the Philippines, you will find properties at a reasonable price compared to other foreign countries. Also, investing here is very beneficial as the county is always in demand for real estate properties.

  1. Buying is Cheaper Than Renting

Long-term renting will cost you more than buying a house itself. If you calculate numbers, you will figure that investing in real estate today is an intelligent choice. The value of the property you will buy today will definitely be more tomorrow. It will be a smart decision to invest now.

  1. Vacation

Filipino expats living out of the country want to stay at their own house when visiting for vacation instead of some hotel. Having your place gives you much freedom and comfort.

  1. Allows to Earn Money

Having a housing property that you don’t use much can be a good source of earning. You can put it on rent, lease or even sell if you need. Buying and selling properties is a way to make good money.

  1. Business Opportunities

The Philippines is a hub of many international companies and performs well in real estate. The country offers ample business opportunities. Having a home in a place like that opens many chances. The infrastructure is sound, and being a tourist destination makes it more attractive.

 

Other than these ten reasons, there is much more to the Philippines that tempts people to come, stay, settle, and invest in Philippine real estate. If you want to invest in real estate in the Philippines, visit Housal.

 

 

 

 

 

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Property Acquisition – Is a Foreigner Allowed to Acquire Property in the Philippines?

Published Date : January 18, 2022 Article Buying Property Buying Tips Community Guide Industry News Property Recommendations Real Estate 101

The Philippines is a tourist attraction and the home to a large community that wants to enjoy the beaches and rainforest with a tropical climate. As the year passes, more and more people are showing interest in owning real estate property in the Philippines. However, there are some specific laws regarding how you can buy. If you are a foreigner who wants to acquire land in the Philippines, then this article is a must-read for you. Let’s start with the general questions.

Can a Non-Filipino Buy Property in the Philippines?

Yes, they can buy property in the Philippines, but there are certain restrictions. So if you are a non-Filipino, there is a restriction on how much or what property you can buy. Regarding land properties, foreigners do not have the right to own land in the Philippines. Only Filipino citizens can own land. All the people for a greater community of expats are appealing to amend this rule, but to date, it remains unchanged.

Are There any Exceptions to This Restriction?

  • Those who have acquired property before the 1935 constitution.
  • Filipinos who are married to international and have Filipino citizenship.
  • Can have ownership of not more than 40% in a condominium project.
  • Natural-born Filipino having foreign citizenship can acquire property but with restricted ownership rights.

Can Corporations Own Land? 

Any corporation that may have set their domestic operation in the Philippines can take ownership of any commercial building, residential houses, or private land. They can also invest in condominiums and other homes in the Philippines.

Ownership by the Individuals

Foreigners can own any residential house or building in the Philippines as long as they don’t hold the ownership right of the land on which the building is built. Even after losing their Filipino citizenship, natural-born Filipino citizens can own an area of 5000 square meters. In the case of married couples there, they can purchase the area together, not exceeding the limit set by the law.

 

If you want to purchase property in the Philippines as a foreigner, you can buy townhouses and other real estate properties, but you have to have specific requirements in the case of land. As per law, you have to be a citizen of the Philippines. 

However, if you are not a Filipino, there are many ways you can acquire Filipino citizenship, but if you want to deal in real estate properties like buildings, you are good to go as a foreigner. If you are interested in looking for houses for sale or townhouses for lease in fully open, you can look up at a trusted platform.  your one-stop solution for buying and selling properties online.

 

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