Buying Property in the Philippines

[LondonHM]

Difficult by the looks of things - especially as I am not in a relationship with a Filipino girl.

Anyone got any experience here? I was interested in buying something but the logistics is putting me off

[Terpe]

As a first response I would strongly suggest you DO NOT even consider that any more.

[grahamw48]

I agree with Terpe....a quick route to bankruptcy followed by years of painful regrets.

Fortunately there are severe restrictions placed upon property ownership by foreigners in the Phils.....to save us from ourselves.

If you're happy to lose it....buy it.

[LondonHM]

Thanks for the tip.
What are the horror stories?
I was not thinking of it as an investment - more of a holiday home.

[grahamw48]

Well, you can only own 40% anyway (other 60% owned by Filipino partner), except in the case of Condos and certain company- owned property.

Quite honestly, unless you have a Filipina wife who is VERY good at anything property-related, it's just not worth all the hassle.

Better to rent and keep your money safely back here.

[Marie]

Yes LondoHM all the comments above are correct unless you want to gamble your money...its really hard for you guys as a foreigner in this country to buy a property ....unless it is a condo....just be reminded that so many people there are not trustworthy enough for you to tie up with them...think twice, thrice or more before you decide.....good luck

[fred]

Ive got titled land here on Panglao island that we will (one of these days) partition into 250/500 sqr mtr lots..
Idea is to make a small sub division and give 50 year leases to foreigners that wish to build houses here without the worry of losing everything due to family issues, separation from wife etc.. ..
Lease from me and your leased property will be safe as houses for the 50 year duration !

[Stevek]

Hi

It is possible to buy a condo as a foreigner, the costs have been rapidly increasing and they keep on selling them so that most are only available at pre-selling with turnover 1 to 2 years away.
I do see a bubble forming but its hard to see when it will burst
I am currently in the process of buying a 1 bed as an investment costing 22k. If you want I can keep you posted on how I get on

Good luck whatever you do
Steve