Buying a home in the Philippines: a practical approach

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The world is more than just a tourist attraction. The Philippines is home to a large and welcoming area of ​​former pats who value low cost of living, beautiful beaches, beautiful flowers and animals, tropical climate, and friendly locals to name just a few.

The marketing team, which specializes in retirement abroad, estimates that many former retirees can live comfortably in the Philippines at $ 155 a month, including food, events, health care, and housing prices. Houses represent a large part of the budget. While many of the older ones are renting, it can be a cost-effective purchase, especially if you want to stay in the country for more than a few years. Generally, foreigners are barred from owning land in the Philippines retirement communities , but they can legally reside. Here are some alternatives.


One of the great things about moving abroad is knowing what part of the country you are going to make that makes you feel at home. There is a lot to think about before making this trip. Do you want to be close to all the ills of life abroad? Or do you really want to leave everything behind and live carelessly?

If you want to be in the middle of it all, think of big cities like Quezon City, home to about three million people. Manila – the capital city – with a population of 1.8 million, is one of the most populous cities in the world. Finally, Davao City, with 1.6 million, is one of the tourist destinations in the world. These cities, along with other major metropolises, have things to look forward to, including restaurants, nightlife, and entertainment at your fingertips. There are also many markets, as well as access to health facilities. But remember, with all these benefits comes a lot of traffic and a huge crowd.

Maybe you have an ideal city life and want to try something a little more downtown. Tagaitai is a popular destination for domestic and foreign tourists. Located in a mountainous region, it is known as one of the best places in the world for its cool climate. The population is 72,000 and there is much to do – golf courses and other outdoor activities. Dumaguete is much larger, with a population of more than 130,000. It has a large port and beautiful beaches.

Highlights of memory

Foreigners are not allowed to own land in the Philippines, but can legally reside.

Philippine condominium law allows outsiders to take condoms, as long as 60% of this facility is Filipino.

If you want to buy a house, consider long-term rent with a Filipino landlord.

You can also buy a building through a consortium, as long as the owner is 60% or more Filipino residents.

With a traditional owner, you are the owner of the character, as well as the place where he lives. So, when you buy a condom, you are the only one in the condo itself, not the one on the floor. Philippine condominium law stipulates that outsiders may have condominium units, at least 60% of the units in this building are Filipino.

Remember that there are some things to consider if you are considering buying a Retirement homes in the Philippines like everywhere else, you will have a condo in monthly payments. And depending on where you live, you may have to share resources such as ponds, gardens, and well-known outdoor areas.

The best thing you can do is not wings. Perform on-site inspections and full site visits before purchase. After all, you dont want any surprises if you make your big move.

Buying a house

As mentioned earlier, foreigners are legally able to own houses and other types of buildings, but they are not allowed to own the land they own. To avoid this problem, you can buy a comfortable home for rent.

Foreigners may own a home, but not the land you live in.

Under the Philippine Investor Lease Act, a foreigner can enter into a lease agreement with a Filipino landlord for a long term with a first term of 50 years, with a period of renewal of the 25-year term.

If you are near a capital city, the price goes up. The average price per square foot in an urban area across the country is around $ 164, which makes 1,200 square feet at home $ 196,800. If you choose to live outside the city, it costs $ 91 per square foot, which means a house of the same size costs less than $ 100,000. The average interest rate for a 20-year fixed-rate mortgage is around 7.59% worldwide.

Consider hiring a local agent before you buy – someone who only works with former pats. This person can guide you in the process and help you avoid costly mistakes. You, of course, will have to pay a service fee, but it may be worth the money.

To marry a generation

If you are married to a Filipino citizen, you can buy a place in your spouse’s name. Even if your name does not appear on the name, it can be included in the purchase agreement. If you are legally separated or your spouse dies, the land will not be given to you because you will no longer be allowed to own the land, but you will have a good time selling the house and taking the money. Otherwise, the ownership will pass to the heirs of your spouse and/or relative.

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