I don't know if it's right or not, but I've been told by some of the ex-pats living in Cagayan de Oro that you can own the property but not the land upon which it is built. So what some have told me is if you want to build a home here, get a smart lawyer who will find a Filipino, probably one of his extended family, who, for a fee, will be the owner of land and give you a 99 year lease at a nominal P100 per year.
It all sounded a bit dodgy to me and it is something I was going to make a post about to see anyone on here had any experience of this sort of thing, if what I have been told is correct and if so, are there any pitfalls one would have to be aware of before getting into this sort of thing.
Louella & Iain.
