Foreigners Owning Real estate - Being Controversial.

[baboyako]

An open real estate market works in the UK because it desperately requires investment (read more houses, renovated houses), and ultimately lowers real estate yields (rent) for those of us living/working here.

Investing in the Philippines through real estate does not benefit the Philippine economy , no really. A Filipino laborer will be paid the minimum wage whether its a westerner paying or a local person.

To 'invest' you need to provide jobs that pay way above average per capita gdp (i.e. 20,000p/mo+ salary), rather than rob poor people of their land .

That is my view, that is what I am doing

[fred]

An open real estate market works in the UK because it desperately requires investment (read more houses, renovated houses), and ultimately lowers real estate yields (rent) for those of us living/working here.

Investing in the Philippines through real estate does not benefit the Philippine economy , no really. A Filipino laborer will be paid the minimum wage whether its a westerner paying or a local person.

To 'invest' you need to provide jobs that pay way above average per capita gdp (i.e. 20,000p/mo+ salary), rather than rob poor people of their land .

That is my view, that is what I am doing

A lot of foreigners want the same..This is because they miss the good ole days when they could rent a 3 bed house for 500 a month.
Filipino`s are already priced out of the land and housing market..Thats why there are so many vacant lots used as rubbish dumps.
How does that help those working on a minimum wage?

[andypaul]

An open real estate market works in the UK because it desperately requires investment (read more houses, renovated houses), and ultimately lowers real estate yields (rent) for those of us living/working here.

Investing in the Philippines through real estate does not benefit the Philippine economy , no really. A Filipino laborer will be paid the minimum wage whether its a westerner paying or a local person.

To 'invest' you need to provide jobs that pay way above average per capita gdp (i.e. 20,000p/mo+ salary), rather than rob poor people of their land .

That is my view, that is what I am doing

But if more non phills live in an area they use the local services, very few people buy a house and then import all the food/electricty/water from abroad using there own driver.

Services only the non phills use will crop up resturants,shops etc.

So those phills not working will be able to work. Also if more people are in work supply and demand suggests that the labour prices will rise due to people working in the area.

Also how can you attract investors if you tell them they have to waste money renting a house or having a pokey condo with little resale value?

How many people are you going to pay 200 pounds a month to? That itself can cause problems as rival businesses will not be happy and be having queit chat with local officials about it seeing what they can do to avoid that problem.