Posts Tagged ‘condos’
Can I Own My Own Home?
Yes, you can but it has to be a condominium and only 40% of the condos in the block can be owned by foreigners. You can’t own land but you can own the house you build on it. Con fused? Well “Philippines Property Primer” tells you all the detailed information but in a nutshell the simple answer is that foreigners can not own land int he Philippines.
You can get around this by forming a corporation and owning 40% of the stock, then buying the land but that means 60% of the stock is in the hands of a Filipino or Filipinos. You can lease a Lot and build on it and at the end of the lease either remove the ‘improvements’ or have the land owner compensate you for the value of the buildings.
There are lots of options and alternatives and the book gives you some good ideas. It is soon to be updated with new information and changes to the laws int eh Philippines but all of our books come with a lifetime free upgrade offer. No matter how many times we upgrade the info int he book, you can always get the latest copy for free once you buy the title the first time.












