How to Buy Property in the Philippines (Detailed Guide)

Are you wondering how to buy property in the Philippines? My husband and I recently bought a property in El Nido, Palawan through the help of JD Paradise Realty. A Palawan Property Developer based in Puerto Princesa. I would like to share with you some info on how you can successfully and legally acquire a property in the Philippines whether you are a Balikbayan, Dual Citizen, Former Filipino or a Foreign National who wants to retire in the Philippines.

Since the Spanish–American War, it appears that people from other countries have had an inexplicable interest in the Philippines. This nation, which is an archipelago, is technically comprised of over 7,000 individual islands and is bounded to the north by Taiwan, to the east by the Pacific Ocean, to the south by Indonesia and Malaysian Borneo, and to the west by the South China Sea.

According to data provided by the Department of Trade and Industry of the Philippines, the number of tourists who visited the Philippines in 2018 rose by 7.7% to 7.1 million.

When compared to other countries, the real estate industry in the Philippines is unquestionably still subject to a significant amount of regulation. There are very stringent rules that must be followed in order for non-Filipino citizens to purchase, own, or invest in real estate in the Philippines. Additionally, foreigners are not permitted to own land under any circumstances.

This general rule, however, does have a few notable exceptions. There are at least six (6) different circumstances under which foreigners are permitted under Philippine law to purchase and own real estate, including land.

Lot Property for Sale in El Nido Palawan by JD Paradise Realty
Lot Property for Sale in El Nido Palawan by JD Paradise Realty

Check out the information in the following guide if you are a non-Filipino citizen who is interested in purchasing and owning real estate in the Philippines. 

What are the legal documents needed in buying a property in the PH?

Here are the necessary documents you will be needing when buying a property in the Philippines. 

  1. Letter of intent
  2. Reservation letter
  3. Contract to sell
  4. Letter of Guarantee
  5. Deed of absolute sale 
  6. Certificate title
  7. Tax declaration

1. Letter of Intent (LOI)

You should present the seller with the letter of intent, which is a document that does not bind either party. The letter of intent (LOI) outlines a firm commitment to acquire the real estate in question. The letter of intent (LOI) ought to be handwritten by the purchaser.

This is a handwritten document that contains the following information: the price, the initial deposit amount, the mode of payment, the period of due diligence (which refers to the time when the buyer evaluates the property prior to the actual sale), and the deadline for the seller to sign in accordance with the terms of the conditions. To put it another way, the letter serves as the preliminary terms that the buyer proposes for such negotiations.

In the event that the seller consents to the buyer’s letter of intent, the document must be signed by the seller in order to put the buyer on the waiting list for the indicated property. In the meantime, the buyer is required to pay either a down payment or earnest money in order to secure their hold on the property within the allotted amount of time.

2. Reservation Letter

When purchasing real estate, another document that is required is called a Reservation Letter. Because the proverb “first come, first served” is frequently followed, a reservation letter will protect you from losing your rights if another customer claims reservation rights. This is because “first come, first served” is frequently observed.

This letter serves as a guarantee that the home you are interested in purchasing has been taken off the market and set aside specifically for you, preventing it from being sold to any other prospective buyers. As a consequence of this, the seller will require that you pay an earnest money deposit, which is also referred to as the reservation fee, in order to demonstrate that you are serious about purchasing the property. 

In addition, a receipt should be presented to demonstrate that the reservation fee has been paid.

Furthermore, the reservation comes with a specific timeframe, and if you do not meet the conditions to acquire the property within that timeframe, the buyer will most likely open it up to the general public in order to make room for another potential buyer.

3. Contract to sell

This contract outlines all of the definitive terms, conditions, and fees associated with the sale. Following the successful completion of your initial payment, the seller will hand this over to you. The seller will not transfer ownership of the property to you until the remaining balance has been paid in full (either through your own finances or through a loan). In order for this document to be considered legally binding, it must bear the signatures of both parties and be notarized.

4. Letter of Guarantee (LOG)

The financial institution from which you obtained your loan will provide you with a letter of Guarantee under certain circumstances. It ensures that the financial institution will pay for any costs incurred in the event that the buyer does not pay. An email LOG is adequate.

5. Deed of Absolute Sale

A Deed of Absolute Sale is a document that is used in real estate transactions to serve as evidence of the transfer of ownership. The buyer receives a copy of this document after it has been registered with the Registry of Deeds. Both the buyer and the seller are required to sign this agreement, and then it must be notarized by a public notary. 

When the following have been paid in full by the buyer: the purchase price of the property, documentary stamp taxes, registration fees, and any other fees associated with registering the sale of the property, this is granted.

6. Certificate Title

A certificate of title will not be issued for the piece of property until all of the money owed on it has been paid off. This piece of real estate documentation will serve as the new owner’s conclusive proof that they are the legal owners of the property. 

This document is available in two distinct iterations, one of which corresponds to the purchase of a house and land and the other to the acquisition of a condominium.

Purchasing a home or piece of land results in the issuance of a Certificate of Title, which is also referred to as a Transfer Certificate of Title (TCT).

The other document is referred to as a Condominium of Certificate of Title (CCT), and it is intended for purchasers of condominiums. This document grants ownership rights to the building developer’s name.

Both types of records are issued by the Registry of Deeds, but which one is issued depends on the location of the property for its Revenue District Office (RDO). This process could take anywhere from three to six months to complete.

7. Tax Declaration

The Tax declaration is the last piece of real estate documentation you’ll require in order to complete the purchase of a property in the Philippines. As the new official owner of the property, it is your responsibility to pay the annual taxes, which are more commonly referred to as ‘Amilyar’. The new owner is responsible for providing the RDO’s assessor with the new property title and an image of the property so that the paperwork can be processed.

Aside from the documents mentioned above, you also need to prepare your IDs. The requirements depend on what category you fall under:

1. For a Filipino citizen married to a foreigner, 

  • Present your passport and one (1) valid ID of husband and wife. 
  • Prepare your Tax Identification Number (TIN) of Filipino buyer or  you may present a duly filled-up BIR form 1904 is acceptable in absence of TIN.
  • You must have a marriage certificate. 
  • You also need a waiver of conjugal rights. 
  • Lastly, you must prepare two (2) original latest proof of billing with the same address, no need to be under the buyer’s name. If not under the buyer’s name, provide a copy of the Certificate of Residency.

2. Filipino with Dual Citizenship 

  • Present your passport and one (1) valid ID of husband and wife (if married)
  • Prepare your Tax Identification Number (TIN) of Filipino buyer or  you may present a duly filled-up BIR form 1904 is acceptable in absence of TIN.
  • You may use your marriage certificate or birth certificate. 
  • You also need a declaration of citizenship 
  • Lastly, you must prepare two (2) original latest proof of billing with the same address, no need to be under the buyer’s name. If not under the buyer’s name, provide a copy of the Certificate of Residency.

Can a foreigner buy property in the Philippines?

Yes, it is possible for non-Filipinos to purchase and own real estate property in the Philippines; however, this does not apply to land ownership.

In the Philippines, there are limitations placed on and restrictions placed on the ownership of property by foreign nationals. For example, non-Filipinos are permitted to buy and own condominium units that have been constructed on Philippine soil; however, the ownership of condominium units is still subject to a 40% restriction for foreigners. 

This is due to the fact that a condominium project is similar to the establishment of a corporation, which requires that 60% of the ownership be held by Filipinos.

Despite the fact that it is abundantly clear from our legal system that non-citizens are not permitted to own land, and that their ownership of other forms of real estate properties is restricted, these rules are still subject to certain exceptions.

Foreigners may acquire and buy real estate property in the Philippines under the following conditions:

  • The property was acquired prior to the 1935 Constitution.
  • The property was acquired through hereditary succession, with the foreigner being a legal or natural heir. This means that the property or land may have been acquired in accordance with the 1935 Philippine Constitution, which means that a person (who is not Filipino) inherited it.
  • By purchasing a unit or units in a condominium development, foreigners are able to own property. Keep in mind that there is a restriction on foreign ownership in the condominium corporation of 40%.
  • As long as Filipino citizens own 60% or more of the corporation, foreigners are also permitted to buy real estate through it.
  • When a foreigner marries a Filipino, they are eligible to buy real estate or land.
  • It is also acceptable for a foreigner who was born in the Philippines to purchase land or real estate. But there are restrictions imposed by the law on this.
  • if the owner purchased the property while still a citizen of the Philippines by virtue of birth, subject to legal limitations.
  • Foreigners may own homes or other structures, but not the land on which they are situated. A foreign person or company is only permitted to lease Philippine land, not to own it. Such a lease must be a long-term agreement with a minimum term of 50 years, after which the rent must be renewed every 25 years.

Can a former Filipino own land in the Philippines?

Yes, a person who was born in the Philippines but never lived there can still legally own property there.

According to the Philippine Constitution of 1987, individuals who were born in the Philippines but later obtained citizenship in another country are permitted to purchase real estate in the Philippines even though they no longer hold Filipino citizenship. It states that non-Filipino citizens who have a parent or parent’s parent who was born in the Philippines have the right to buy and own land in the Philippines.

There are restrictions placed on the ability of former natural-born citizens to own land.

The following are the lot area limits for the purchase of land that will be used as a residence:

  • 1,000 square meters (sqm) of urban land 
  • 1 hectare of rural land

The following are the lot area limits for the purchase of land that will be used for business or commerce:

  • 5,000 square meters (sqm) of urban land 
  • 3 hectares of rural land

In accordance with this regulation, one or both members of a married couple are permitted to own land, provided that the total area of their combined properties does not exceed the maximum limit.

In addition, those who bought urban or rural land for residential purposes while they were still Filipino citizens are allowed to buy more urban or rural land for residential purposes, provided that the total area of all the land they own does not exceed the maximum allowed by the preceding paragraph.

Those who already owns urban or rural land in the Philippines and wish to use it for commercial purposes while they are still citizens of the Philippines are subject to the same regulations.

The same guidelines for land ownership state that a natural-born Filipino may acquire no more than two (2) lots, each of which must be located in a different municipality or city anywhere in the Philippines. 

The total area of these lots may not exceed 1,000 square meters for urban land or one hectare of rural land for use as a residence; however, the total area of these lots may not exceed 5,000 square meters for urban land or three (3) hectares for rural land for use in business. 

This provision applies to both residential and commercial uses of land

The law also makes it illegal for a person who has previously purchased urban land for residential use to subsequently purchase rural land for residential use, and it does the same thing in reverse.

Additionally, a transferee who has previously purchased urban land will be ineligible to purchase rural land, and vice versa. This applies to both types of land. However, even if the transferee has sold his rural land, he is still permitted to purchase rural land and vice versa, so long as the land in question is going to be used for commercial purposes.

Natural-born Filipinos who later naturalized in another country and lost their Philippine citizenship can, under the Dual Citizenship Law of 2003, regain their Filipino citizenship by taking an oath of allegiance to the Philippines. 

This provision was added to the law in response to the fact that many natural-born Filipinos eventually lost their Philippine citizenship. They are once again considered to be citizens after successfully regaining their Philippine citizenship, and they are free to own real property without being subject to any restrictions.

Can Filipinos who married a foreigner own land in the Philippines?

Yes, it is possible for a Filipino citizen who has wed a non-Filipino to own property in the Philippines.

There is no requirement for Filipinos who marry foreigners to automatically give up their citizenship in the Philippines. “Citizens of the Philippines who marry aliens shall retain their citizenship,” it says in the Constitution of the Philippines, “unless by their act or omission, they are deemed, under the law, to have renounced it.” This only applies if the couple has done something that causes them to be deemed to have given up their citizenship.

The taking of an oath of allegiance in order to acquire citizenship in the nation of one’s spouse is an illustration of what it means to renounce one’s citizenship in the Philippines.

Any citizen of the Philippines who have not renounced their citizenship is eligible to buy and own land in the Philippines, regardless of whether or not they are married to a foreign national. Since it is presumed that they have kept their citizenship, they are permitted to purchase and own land without being subject to any restrictions.

Can a dual citizen buy land in the Philippines?

A person with dual citizenship is permitted to purchase real estate in the Philippines.

However, the general rule that it is impossible for non-citizens to own property in the country does have this one notable exemption. Even if they later become citizens of another country, people who were born and raised in the Philippines do not automatically lose their Philippine citizenship. This is in accordance with state policy.

The law that governs dual citizenship serves as its foundation. A different name for this legislation is the “Citizenship and Re-acquisition Act of 2003,” which is also known as Republic Act No. 9225. I wrote another blog post about How To Apply for Dual Citizenship in the Philippine Embassy.

As a result, individuals who hold dual citizenship can continue to take advantage of the rights granted to them by the laws of the Philippines. One of these privileges is the authorization to buy property anywhere in the nation and have it registered in their own name. This is only restricted in terms of certain size requirements.

Can foreigners with Special Resident Retiree’s Visa (SRRV) own land in the Philippines?

Unfortunately, there is a lot of confusion about whether or not retirees from other countries can own property among those who live in the Philippines and especially among those who have a Special Resident Retirees Visa, or SRRV.

Non-Filipinos who possess an SRRV are NOT allowed to own land or other types of real estate property in the Philippines, according to the Philippine Retirement Authority (PRA), the government body responsible for issuing SRRVs.

If a foreign retiree is legitimately married to a Filipino citizen, they are permitted to purchase property there; however, the property will be registered in the name of the Filipino spouse.

The only exception to this rule is a Filipino citizen who was born abroad, is currently a foreign retiree, and has a current SRRV. The same rules that are applied to people who were born in the Philippines but later acquired citizenship in another country will be followed here.

Interested in getting an SRRV? Read more about it here: SRRV: How to Apply and Benefits of Retirement Visa in the Philippines

Buying property under Corporation in the Philippines

By forming a Philippine corporation in their own name, non-Filipinos who want to buy land in the Philippines can take advantage of a legal loophole that allows them to do so. The formation of a company and its subsequent registration with the Securities and Exchange Commission are both necessary steps in this process (SEC).

The only stipulation is that the company must continue to adhere to the rule that only a maximum of forty per cent (40%) of its shares can be held by foreign investors. This indicates that Filipinos must continue to hold at least sixty per cent (60%) of the company’s shares.

Once the corporation has received approval from the SEC, it is now able to purchase any kind of real estate property, such as land, houses and lots, condominium units, or commercial buildings. Since the foreigner is a part-owner of this corporation, he or she is entitled to use and benefit from the property that has been acquired. However, the combined stake in ownership that is held by foreigners is restricted to only 40% of the company.

In addition, corporations that satisfy this equity stake requirement are mandated to register with the government’s Board of Investment (BOI) in order to be granted permission to buy, sell, or act as an intermediary in the transaction of real estate.

In the event that the corporation is dissolved, the foreigner will be entitled to receive his proportionate share in the remaining assets of the company; however, this does not mean that he will be able to acquire ownership of the land that was owned by the corporation. It is possible to sell the land, and the proceeds could then be split among all of the owners, including the foreigner.

Buying condominiums in the Philippines

The purchase of a condominium unit is the route that is most frequently taken by visitors from other countries who want to become homeowners in the Philippines.

Foreign nationals are permitted under the Condominium Act of the Philippines, also known as Republic Act (RA) 4726, to purchase condominium units in any condominium project so long as the total percentage of foreign ownership in that project does not exceed forty per cent.

For example, Condominium Project A is presently putting up for sale a hundred (100) different units. According to the regulations, each of the 100-condo unit owners automatically becomes a shareholder in Project A Condominium Corporation, which is the sole remaining owner of the condo building. 

The condo developer is allowed to market and sell condo units to foreign buyers so long as the total percentage of condos owned by foreign buyers does not exceed forty per cent of the total.

If, for instance, the following types of foreign buyers purchased the following quantities of housing units in Condominium Project A:

  • 20 English citizens bought 1 condo unit each = total of 20 units 
  • 8 Japanese citizens bought 2 condo units each = total of 16 units 
  • 1 American citizen bought 4 condo units = total of 4 units 
  • Total condo units in Project X owned by foreigners = 40 units

As a result of the fact that the total number of units owned by foreigners in the condominium development is 40, out of a total of 100, the required limit of 40% foreign ownership has been met, and as a result, this is permitted.

Anything in excess of that, say 41 units or more, constitutes a violation of the law and is considered illegal.

However, there is no need to be concerned because the management of the condominium corporation or the condominium homeowners association is the one that is tasked with the responsibility of monitoring the percentage of condominium that is owned by foreign investors.

You must keep in mind that just because you are the owner of the condominium, it does not imply that you are also the owner of the land that lies beneath it.

There is no single owner of the condo who also owns the plot of land on which it was built. In point of fact, ownership of the land lies with the Condominium Corporation. 

However, in situations where the land is only rented and not purchased and acquired by the condominium corporation, the land most likely belongs to another business and will be returned to that business once the lease on the condo building expires. This is the case in situations where the land is only leased.

The unit owners will hold a vote and decide what should be done with any land that is owned by the Condominium Corporation once the corporation is dissolved (which typically occurs after fifty years have passed since its incorporation).

  • They might decide to raze the existing structure and replace it with a brand-new condominium while simultaneously establishing a new condominium corporation that will be the owner of the brand-new structure; or
  • They might come to the conclusion that it would be best to sell the plot of land on which the existing structure is located, and then divide the money they make from the sale among themselves in proportion to the ownership stakes they hold in the condominium corporation.

How to buy property in the Philippines as a foreigner (Step-by-step)

When compared to the experience of purchasing a home in Europe or the United States of America, purchasing real estate in the Philippines can feel very different.

Restrictions are placed on buyers from other countries, and there is less government oversight of the market. It is absolutely necessary for you to seek assistance from a local expert who is appropriately qualified if you wish to purchase a piece of property legally.

After you have located someone who is able to assist you, the following steps will need to be carried out by you:

Step 1. Pick the piece of real estate that best suits your needs.

Step 2. Go after alternatives for getting a mortgage. You could inquire with banks in the area, or you could use the services of an international mortgage lender with a base in your home country.

Step 3. Come to an agreement with the seller regarding the purchase price, and then draft and have the Deed of Absolute Sale notarized with the assistance of a legal professional (DOAS).

Step 4. Obtain the Land Tax Declaration from the Bureau of Internal Revenue (BIR), then deliver it to the office of the appropriate Assessor.

Step 5. Make a payment to the city treasury to cover the real estate tax.

Step 6. The office of the Assessor will conduct an evaluation of the value of the house.

Step 7. You will be responsible for paying the transfer taxes. It is necessary to take care of this at the Assessor’s office.

Step 8. Both the Capital Gains tax and the Documentary Stamp tax are paid by the seller to the BIR. 

Step 9. On the records kept by the Registry of Deeds, the previous title to the property, which was held in the name of the seller, is changed to the new one (RD).

Step 10. You will be provided with a copy of the new deed, and you will be required to make a request with the office of the assessor for the tax declaration documents. 

Step 11. You made it! Relax and take in the sights and sounds of your new home in the Philippines.

Where is the best location to buy a lot in the Philippines?

1. Palawan

You’ll quickly fall in love with Palawan once you’ve visited. Real estate is a wise investment in Palawan. The nation’s most stable island is this one. It is one of the safest areas in the Philippines if you are concerned about natural disasters.

Papaya Beach in El Nido Palawan
Papaya Beach in El Nido Palawan

The foundation of Palawan is made of continental rocks that extend 30 kilometres below the surface, according to studies. Since there are no active volcanoes, active fault lines, or deep trenches in Palawan, you can invest in real estate without worrying about the risk of earthquakes and eruptions.

The capital city of Palawan, Puerto Princesa deserves special recognition among the best places to call home in the Philippines. You’ll be closer to famous locations like the underground river if you live in this city. Additionally, it serves as the Philippines’ “Center for Ecotourism.”

If you purchase a home in Puerto Princesa, Palawan, there is a good chance that you will be close to natural hotspots. It is also important to note that, as a result of the city’s effective anti-crime campaign, this city is among the safest ones listed in PNP’s 2018 crime research report.

JD Paradise Realty and JD Paradise International based in Puerto Princesa, Palawan offers great real property investment opportunities in Palawan. My husband and I recently acquired a property lot in El Nido, Palawan through them. If you are interested in buying a property in Palawan with JD Paradise Realty, you can drop me an email and I can assist you further.

JD Paradise Realty Palawan
JD Paradise Realty, Puerto Princesa, Palawan
JD Paradise Realty offers affordable real properties in Palawan. Here are some of their current projects:
Palm Bay Prime Residences in Simpocan, Puerto Princesa, Palawan
City Prime Residences in Mitra Road, Puerto Princesa, Palawan (Near Mitra’s Ranch)
El Nido Prime Residences in Bagong Bayan, El Nido, Palawan

2. Tagaytay

Tagaytay is included on this list of the best places to live in the Philippines due to its cool climate. The city is ideally situated to enjoy nature and take in breathtaking sights because it is perched on a ridge overlooking the Taal Volcano.

Tagaytay Philippines
View of Taal Lake in Tagaytay, Philippines

Additionally, Tagaytay is home to many tourist attractions, including Tagaytay Ridge, People’s Park in the Sky, and the Taal Vista Hotel.

The Tagaytay-Nasugbu Highway and the Tagaytay-Calamba Road both lead to the city. The Skyway and the recently opened CALAX can also be used for a smoother, quicker drive up north.

For instance, you can reach Bulacan in a little more than two hours. Depending on traffic, it will take you about an hour and a half to get to NAIA Terminal 3 to catch a flight.

Check out the neighbourhoods of Ayala Land’s Serin East and West, Vista Land’s Camella Silang, and Megaworld’s Twin Lakes if you want to live in Tagaytay.

3. Iloilo City

There are many lovely things waiting for you in this coastal city on Panay Island. not just for vacationers but also for those seeking permanent residences and real estate investors seeking lucrative properties.

For people who want to incorporate historical allusions and sensibilities into urban living, Iloilo City is one of the best places to live in the Philippines. This is due to the fact that many districts still have plazas and that Spanish aesthetics are prevalent in major architectural themes.

In the Western Visayas, Iloilo City has long been a major hub for business, finance, healthcare, and tourism. Important Asian cities both locally and internationally can be reached through the Iloilo International Airport.

UP Iloilo City Campus, University of Iloilo, University of San Agustin, Saint Paul University, and Western Institute of Technology are just a few of the city’s many reputable colleges and universities.

Types of different properties to invest in the Philippines?

You may have several opportunities to gradually increase your equity by investing in real estate properties. But that is not the only factor that makes these investments attractive to so many people.

Despite rising mortgage and housing costs, the real estate market is still steadily rising.

The current market’s supply of real estate properties cannot keep up with the demand, so now is the ideal time to begin your investments. However, you must first comprehend the various real estate investment options before you can even start to participate.

Each choice comes with benefits and drawbacks. Depending on their needs and objectives, these various property types can benefit different types of investors.

Lot (subdivision or private seller) 

First-time home buyers and investors in the Philippines who want to diversify their property portfolios think about buying lots because it is one type of investment and security to buy vacant property or a lot. OFWs and some Filipinos who plan to construct a home after retiring also take into account purchasing this kind of property.

The ability to build your own home and a sense of ownership are both provided by owning a piece of land. Having this freedom can give you the power to decide on the design of your home, such as contemporary or modern homes, and the features you can include, such as a swimming pool, a kids’ treehouse, or a garden.

Additionally, there are numerous benefits to owning only a lot as real estate. In traditional house and lot or condo for sale properties, real estate investors purchase the unit for either end use as a family residence or for investment purposes to sell it in the future for a higher value, whereas purchasing a lot only property is typically done so for investment purposes.

House and Lot (subdivision) 

Think of a house and a lot as one of your future investments. A house and lot is one of the best and safest investments you can make, despite how difficult they may seem to acquire.

When you own a home, you have a lot of options. It can serve as a home for you and your future family. If you already own a home, you can earn money by renting out the house and lot. It produces income that can aid in your financial stability.

You can leave the title to your heir or heiress when you pass away. Purchasing a home and lot has numerous benefits that can increase your sense of security in life. Your top priority as a beginner investor should be a house and a piece of land. It is something that will benefit not only you but also your immediate family and extended family.

You should look for someone who can assist you if you decide to include a house and lot as one of your investments. Someone who won’t cause you stress or headaches

Commercial Lots 

Commercial real estate is very open to development and investment. Experienced investors in the market are modifying and redeveloping the property instead of letting it become unkempt during the time of elusive potential tenants. 

Investors may view the reuse of commercial property as expensive and risky, but it will almost certainly lead to renovated apartments, office buildings, or industrial warehouses.

New tenants may benefit from a desirable view and setting thanks to the architecture and renovation of the building. For cities, commercial real estate investors, and potential tenants, this represents a significant competitive advantage.

Furthermore, even vacant and outdated commercial spaces can be transformed into a brand-new house and lot that might serve as a home for another multi-family tenant or even the owner. As a result, there are still a few options that can be modified repeatedly even after using the business property appropriately.

Agricultural lots 

It is a blessing that the Philippines has agricultural land. With these abundant lands we have, there are countless things you can do. These areas may also be a source of wealth.

Here are a few justifications for purchasing farmland.

1. You can raise livestock and grow crops to sell on the open markets.

2. You can construct a home and deed the land to the next generation.

3. The land can be rented out for agricultural purposes.

4. The value of land always increases.

5. It’s safer than the stock market.

6. The farm lot is affordable to purchase.

7. It helps the neighborhood and local businesses.

Condominium

Investors in the Philippines have shown significant interest in condominiums for a long time. They provide a combination of features that are not easily found in other property types, such as high-quality construction, location in prime areas, and amenities. In addition, they are located in desirable areas. 

As a result of the lower level of upkeep required, condominiums are frequently favoured as an investment vehicle by individuals who lead hectic lives or who reside in other countries.

Condos can typically be rented out at a higher rate than apartments can, giving investors the potential to generate a significant amount of rental income from their investment. This is one of the advantages of investing in condos. 

However, the prices of condos can be quite unpredictable, so it is essential to conduct adequate research before making a purchase. Condominiums in the Philippines continue to be a good investment, but buyers need to be aware of the potential downsides before making a purchase.

how to buy property in the philippines pin
How to Buy Property in the Philippines (Detailed Guide)

ABOUT THE AUTHOR

Everything Zany Dual Citizen Travel Blog

Everything Zany

Travel Blog

Everything Zany Travel Blog exploring the UK and beyond. Sharing travel guides, tips, history and culture. Our travel media brand is founded by travel and hotel industry expert – Ryazan Tristram, a Dual Citizen (British – Filipina) based in Birmingham, UK. Everything Zany is a reputable and award-winning travel blog. Our work and contributions have been featured in Huffington Post, CNBC, Discovery Channel, GMA, Readers Digest, and Lonely Planet. Our missions are to build a great travel community and resource of travel tips, visas and travel guides for travellers. Join us as we travel around the UK and beyond with a mission to share the best of the world.

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