Requirements in buying a property in the Philippines
When buying a property in the Philippines, prepare the following documents as these will be required in processing your purchase.
1. Residence Certificate (otherwise known as Cedula which can be easily obtained from your municipal or barangay hall).
Tips Before Buying Real Estate in the Philippines
Buying a property in the Philippines, or in any other part of the world for that matter, is a risky business. Real estate scammers are always on the lookout for gullible buyers seeking to purchase a property. Being informed is the best weapon against these crooks. To ensure that your hard-earned money does not go to the hands of unscrupulous individuals or prevent any costly mistakes, here are some tips to consider when buying any property in the Philippines:
Buying property in the Philippines
According Philippines real estate law, foreign nationals cannot own land but can own condominium units or apartments in high-rise buildings as long as the foreign proportion does not exceed 40%. They can also buy a house but not the land on which it is built. Leases on land up to 50 years, renewable for another 25 years, are available.
A foreigner who is keen on acquiring land in the Philippines have the following options: