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Thank you for sharing your experience. This gives me hope. It seems like most people go to the Philippines for the girlfriend or fiancee. I'm going to find the place first then I'll find the wife. I've always put the cart before the horse in my life. Time to make well informed and intelligent decisions. Plenty of fish in the sea and only one of me. BTW- I was engaged to a Filipina once until I found out she was married. We survived covid and her getting cervical cancer, but she never had any intentions of getting an annulment. She never sought out an attorney. She did find lots of lots she wanted me to buy for "our" future home. No marriage then no land I told her. It wasn't love it was a lesson. I am grateful to have had her in my life for all the experiences and education I have gained. It's really more fun in the Philippines! 🇵🇭 God could and would if He were sought. Mubuhay! 😎✌️
Thanks for that good explanation and warnings as well Peter. I hope you are all staying safe and sane up your way. I know a few business owners here and have received interesting thoughts on their experiences.
This was an informative video thank you. One option that you missed I believe to protect your asset is even though you are building a home on a leased property I believe you can do a second contract to protect your ownership of the home itself so that if there's ever a divorce situation for example you would still have ownership of the home itself even though your spouse might be able to claim ownership of the land. Then you would have to be paid out or a sale would have to happen so you could reclaim your asset investment.
Do you have more information on land leasing? When you land lease, do you pay monthly to the government or is it through the bank or do you need to buy in full? When renewing, Do they charge you for the value of the land or the house you have that may be fixed up nicely. I have so many questions on the land lease thing.
Many developers provide incentives if you are Filipino. I have bought several properties in Manila and they provided discounts and special payment plans only for Filipinos.
There is another loophole in Filipino law by having a new church registered in Dti. The elder of that church can be also a foreigner and has full control over all the financial transactions including to purchase and sell land. And churches are tax exempted as well.
i wouldnt bet on that, most "2nd and 3rd world" aka developing countries are moving aggressively against NGOs and foreign religious entities. it will be a different world post-covid
@@cinnamonstar808 I'm not interested in losing my money, many foreigners got scammed out of their money by Filipina ladies, so this guy is predicting your future, at any given time you can loose your life here, driving is extremely dangerous, I only rent a fool and his money, too many regulations.
Hi Pete; I regularly watch your sessions. Thanks for educating a retired US Marine. When this virus is vanquished, I will be moving to SB and getting a residence. I will look you up when I (and my Philippine girlfriend) arrive. Keep up the good work! Les Lunceford
Hi Pete am I hearing this right? I can purchase free hold land with my Filipino minor on the title, me being his guardian can control the deed until he is 18. But also slap a 50 year lease on it and I can own any of the buildings. Which he will inherit all one day anyway. Any idea where I might find more information about this?
👍 very professionally presented and explained mate. My wife bought 400 sq/m in her home town in the provinces in 2016 for 400 pesos per sq/m. Apparently it's now valued at 2,500 pesos sq/m. So we've had a success story with property in the Philippines. Not that we intend to sell it - her parents live there now. I see on Lamudi, studio apartments in Cebu that were bought off the plan, then listed for sale with 500k pesos added.
You also failed to mention what happens after the 25 or 50 year lease ends and the owner does not want to renew,,,bye bye house and all your investment !!!
You can also have a legally binding agreement separately or have it included in the lease that at the end of the term the property and all leasehold improvements must be sold and the proceeds divided as predetermined.
you don't get into a lease arrangement unless it has "right of renewal" at your discretion..... each lease could be different, but make sure the clauses that you want are written into it... and get a local lawyer to sort it out
Great video. I'm a Yank of Filipino heritage but believe Hawaii also has leasehold land arrangements too. Thank you ( hope to test a vegemite sandwich 1 day) LOL!
Great video! Definitely abit of confusion around what property a foreigner can own in Philippines. We ended up buying land and building, wasn't straight forward but nothing is in the Philippines. Both our names are on the title and my wife or I cannot sell without other permission, (marital consent) so there's another option. 🌴❤👍🇵🇭🤙
@@lamberko Thanks for your reply, In my opinion the Title is ownership, if your names on the Title you are the owner. Any sale therefore would require signatures from the Title owners, in our case marital consent, because its conjugal property. Alot of lands sales, esp in the province are not Titled just done thru local Barangy hence not recognized by any Lawyer, BIR or DAR. So illegal.
@@LifesJourneyNZPhilippines No, a foreigner's name may be included in the title just to indicate the married status of the Filipino spouse. It is not an indication that the foreigner is a co-owner. Foreigners can not own any land in the Philippines. It is as simple as that.
Yes talking to our attorney the same thing was conveyed because of conjucal consent with the marriage. However we did the Philippine Partnership with the SEC and a lease to the Foreignor@LifesJourneyNZPhilippines
@jeanmoralles977 hi. The Filipino spouse can not sell the titled property without the marital consent of the foreign husband, when titles say married to.
There is one more you left out.If you live in the Philippines for ten years and stay out of trouble(breaking any laws) you can apply for citizenship and then own land in your name.
@@redranger518 if you spend a few months within the U.S. you should be able to keep your citizenship.But if you leave for many years I think you would lose it.Don't quote me on it cause I am not a lawyer.
@@redranger518 if your retired and have enough money banked then who cares.The U.S. is turning into a shit hole if liberals get their way.I plan on leaving hopefully in 8 years
@@COYO-T If you are a US citizen then you would have to renounce your citizenship to get PI citizenship. If you are Philippines Citizens and get US citizenship they the country of Philippines has a program to get recognized as a Philippines citizen. But me since I was born American then I would have to give up US citizenship to get PI citizenship, which would be a no go for me.
@@COYO-T Liberals haven't gotten their way the last 3 years or so, Hopefully it will stay the same longer. I enjoy Philippines, but don't know if I want to live there long term. I am spoiled to USA and what it has to offer in recerations and entertainment.
The lease renewal fee... At least as it stands now, how much is it? For example, in the Australian capital territory, you can't own freehold either, but the lease renewal fee after 99 years is like $200 for another 99 years. Is the lease renewal now in the Philippines some proportion of its freehold value or what? It could be the difference between an appreciating asset and a depreciating one. And can you renew anytime or only when the 50 years is up? In the ACT I believe you can rock up anytime and pay your $200 for 99 years.
Condos in Philippines charge US prices, and the rest of owning land sounds like a lot of work and rules and BS. I would just rent a nice place there and pay 200 to 400 US dollars per month. Don't like the place or get tired of it then move.
Your correct is pricey in Manila metro area. Realistically i bought in a market where i can make 3 to 5 hundred a month then use the money i make to rent wherever i go or pocket money good luck
This video is great! In your last example of the Father owning/developing in his Son's name - was the son a PH citizen? Or was the Son a foreigner as well, with the mother being a PH citizen. Sent you a message on FB with a few question if you don't mind. Salamat Po!
@Go Live Balikbayan and OFW are not part of the 40% cap. Chinese and Chinese companies buys condo in bulk. Some condo being built now are by Chinese companies.
@Go Live I agree with the companies you've mentioned. But do you have any idea that these companies are very agressive with their chinese market. At lease for megaworld and SM. Try to observe the new condos of SM. There are more chinese than Filipinos especially those MOA / Entertainment City part and starting to spread. They might be renters or owners but they are very evident. I think Metro Manila is just starting to be in Chinese Market radar compaired to Bangkok, KL, SG. Not to mention that PH is starting to get notice by expats as one of the best options for retirement. They are staying away from Thailand and moving to PH, VN, Indonesia. Our tourism is also starting to catch up. And of course those thousands of Asian Students who would like to learn English. Add all of these elements. OFW, BPO, POGO, Expat Retirees, Tourism, Foreign Students, Koreans. These are the reasons why PH Real Estate is Very Promising.
@Go Live hey, you might misunderstood me. Im not against Chinese buying up PH condos or invest in PH real estate. My point is Investors are coming over. We have unique markets ( BPO, POGO, Foreign Students and OFW) that Bangkok and KL dont have. You even added some markets by mentioning Singaporians and Japanese. Hence, foreign buyers have to compete with the 40% cap.
So, just to make sure I'm following along properly: If I am a US citizen with intentions of moving to the Philippines to ultimately marry my longtime girlfriend & we wish to build a home on a leased lot of land, am I entitled to own the house I build on that leased land in that scenario? It sounds as if the answer is yes, but just want to make sure. And if so, what safeguards exist to keep from losing my home at the renewal time of the lease? You can imagine the concern someone like me would have, spending the money/time/energy to build their dream home to retire in with their spouse, only to be kicked off the land years later by a land owner who decides he wants to build a Jollibee on the land instead of renewing your lease. Thanks in advance for any feedback you may have!
Hi Pete! could you advice how you did the paperworks such as applying for TIN and consularized contracts. which embassy provides it? PH embassy or your respective country? thank you
Pete if you as a foreigner tried to buy a town house ie two stories and it's on a condominium title how does it play out when you try to change the title as it would be 100% foreign owned rather the the law stating it needs to be 60/40 pinoy owned
So you don't own it, you're leasing it. That's a big difference. They're not required to renew the lease and they can jack up the rates when its time for renewal. Also you can't get the equity out of it which is one of the biggest benefits of home ownership
What does it cost to lease a plot of land for building? Is it a one-off payment or do you pay an annual ground rent? What's to stop the land owner from increasing the rent exorbitantly?
No. Whatever you do avoid “rights only” or tax declaration property. Its means its highly risky, due to being untitled government owned lands. Its like having squatters rights.
Hi , if a foreigner buy condos , how long can they keep it ? For ever when it paid off ? Or until the building or condos stand up ? Or it just a long term lease thing ?
My wife is now a US citizen. I read an article sometime back saying she can buy a house and the lot has to be smaller than 1000sq meters and/or 5000 sq meters of farm land. What do you know about this? She doesn't have dual citizenship.
Hi, my friend watched your video, je started to search a townhouse tittled as condominium but they rare, do you know any? He doesnt want to buy condo anyway, thanks for replying
Thanks for this video. What kind of attorney can we hire to be our advisor and consultant to guide us if we as foreigners are interested in purchasing property?
Hi, Peter! Can you recommend good lawyers that specialize in real estate and has handled many cases wherein a Foreigner wants to buy land here in the Philippines?
For those who knew the story of Hawaii will understand why the Philippine constitution do not let foreigners can own a land but only a lease. With the exception that if you are married to a Filipino citizen, only then that you can own a share of 40% of a property.
Very helpful it I have a query What do I do if I want to sell my house and my better half has passed away and I’m a foreigner but my child has been born and bought in Philippines but with a foreign passport please guide??
thx for your video...Pete...what could i buy for $50K? I am interested to buy a house probably 1200 sq. ft....a house already-built to move in...thx again.
OK, now you have your property, you own it... Here is your real estate question of the day. Can you cut the branches that are in your property from the tree that is growing from your neighbors ground?
Time share is sketchy depending on rules. Example x amount a year per maintenance and is there a 5 or 10 year maintenance lump sum. Then when you back your points what's the cost and when you want to go to another property what's the fee. When you add up your numbers you'll be surprised. My friend bought in cancun when I did the math for him he shouldn't have bought lol good luck maybe yours is a better deal
Hi mate, nice video and channel. Looks like you have found a nice situation there in the Philippines. Are you able to update your views on the company ownership of property route, given the new foreign company ownership laws which allow 100% foreign ownership? Cheers.
Can a Filipina that is an Australian citizen still buy and own property in the Philippines? Or would she be considered a foreigner or maybe as a balik bayan she could purchase property? As life in Aus gets tougher for pensioners we may consider spending more time in the Philippines when we retire.
@@lamberko how about inheriting their parents land ? Farm land , residential, commercial lands. ? As a compulsory heir, can they transfer the title unto them even if they're already foreign citizen and not dual. But they are natural born and can prove filipino lineage ? Second questions; how about lands they already owned/titled , even before losing filipino citizenship ? Does that make their ownership illegal ?Thanks
Yes po, you can still buy a property in the philippines. Can i present some affordable properties po to you. I can send them thru email or in messenger. Just in case you might be interested, please feel free to message me. Thank You and regards
If i buy and own a condo?, is their any tax i should pay in immigration for staying for years in philippines? Or what kind of Visa for im going to get? Any idea how much would it be?
Hi Pete, Can I buy a lot or, house and lot, and have a power of attorney to trust the investment to my Filipino child when they reach 18. I trust the mother to place title in her name in meantime if there is no other way. If house a lot, I want a 18 year lease also so I can use or rent out to also save income for my child in his adult study years. Do you know a property attorney that specialist in this situation. Thanks Neil
can you buy the house and your girlfriend buy the lot, thanks. And can you do a 50 year lease on the lot? You did a video on Tagaytay condos, could you do one on homes in Tagaytay, not too fancy ,please.Its a shame foreigners can't buy homes and lots in the Philippines, with folks fleeing America and with all the islands, it could be quite interesting.
THE BEST SCHEME: Be the trustee and buy under your kids name with a 50 year lease to you, or put you your wife and kid on title 1/3 each. watch out if you wife dies her parents and family get her share, not husband that's a big rip off.
Pete, the insect sounds or external noise did not allow me past the 2:00 minute mark. Enjoying your videos, but bring it inside if the horde of crickets are upon you.
I understand they don't want foreigners to come in and buy up all their land but some of this sounds shady. Frankly you can see just how well some of these condos and such are maintained. This is exactly why I would never purchase a unit that is 60/40 owned. They are all about making the sale but not so much about the upkeep of the jointly owned condos and such. Do research on facilities in the surrounding areas and their build dates. Then go see how badly they have deteriorated in short periods of time. There is little to no management to make sure your investment will retain or even grow in such areas on these properties. If I buy it will be properties we own outright and we will be the primary responsible for upkeep. Otherwise your investment will potentially go down the drain in short time because other owners won't maintain their portion of the property. I will buy only property we have 100% ownership over and they will be put in both of my sons names when that time comes.
Just subscribed here. Wondering if you can feature our houses in Las Pinas City House and Lots under leasehold rights, and Townhouses under Condo Title for Non Filipinos. Just across Ayala Alabang. Let me know
TLDR; No, you cannot own real estate in the Philippines, period. All these tips and tricks do not change the fact that if it is no a 100% freehold to your own name, it is not true ownership. You are just delaying the inevitable fate of loosing the ownership to some Filipino some time in the future. Oh, and btw, apparently you can only lease for 25 years, not 50, and extend only once for another 25 years. But maybe that varies from region to region.
If you do not know the real estate rules in Philippines, do not buy!! Not all brokers, realtors, etc are not all there for your own interest. Lastly, forget taking legal actions if needed.
leasing from the state is complete nonsense, you will build a house, and then die in a few years and goodbye three-flor villa, no inheritance for your relatives. In this case, you can simply rent, although leasing for 50 years still just rent as it is.
I respect your opinion and understand you. Having said that I have a different opinion and feel I have to point out what you said is incorrect. You can top up when you get to 25 YRs. Just make sure you don’t let it go and are compliant with the law.
Let your Filipina wife purchase but lease back from her. Just let her know that you want the leaseback in case something happens to her. Because think about it, if the property you pay for, is in your Filipina wife's name, and she has an accident and dies, then you cannot be the heir to the land with a home since foreigners CANNOT own the land. But you can lease!
be the trustee and buy under your kids name, or put you your wife and kid on title 1/3 each. watch out if you wife dies her parents and family get her share, not husband thats a big rip off.
I am currently holding 6 properties and having to work 2 jobs and a side business to pay the mortgages. If I can hold out then we will be golden later in life. Still have a long way to go, its an endurance race.
@@Property-Club That's the same struggle I had with my bf. I never wanted him to come here if I can't give him space to acclimate here in the Philippines. Took us years before we met. I worked myself to the bone, because I don't want his family to think of me as a "passable gold-digger" --not my words. LOL.
Sorry, foreigners can NOT own 100% of the whole property or land and have it forever in the Philippines. You can own only 40% of the property or lease it for a limited time, even if you get married to Filipina in the Philippines. If you want to do the trick with your children, conditions are also clear: your children with Filippina must be Filipino citizens to own or heritage 100% real estate or land forever. If they do not have Filipino citizenship, they will be a foreigner. In the Philippines, divorce is not legally recognized, and there is no divorce law. It is until death splits you, and then you will be memorized as a husband from a foreign, FOREVER. Having a Filipina wife is a beautiful life, and living in the Philippines for retirement is the best decision in the current geopolitical and economic crisis.
Your not a sovereign and the filipino who is selling to you is also not sovereign. So will be stuck forever in the legal name paradigm. If the child was Sovereign, that would be a different lawfull circumstance
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Thank you for sharing your experience. This gives me hope. It seems like most people go to the Philippines for the girlfriend or fiancee. I'm going to find the place first then I'll find the wife. I've always put the cart before the horse in my life. Time to make well informed and intelligent decisions. Plenty of fish in the sea and only one of me. BTW- I was engaged to a Filipina once until I found out she was married. We survived covid and her getting cervical cancer, but she never had any intentions of getting an annulment. She never sought out an attorney. She did find lots of lots she wanted me to buy for "our" future home. No marriage then no land I told her. It wasn't love it was a lesson. I am grateful to have had her in my life for all the experiences and education I have gained. It's really more fun in the Philippines! 🇵🇭
God could and would if He were sought. Mubuhay! 😎✌️
Thanks for that good explanation and warnings as well Peter. I hope you are all staying safe and sane up your way. I know a few business owners here and have received interesting thoughts on their experiences.
This was an informative video thank you. One option that you missed I believe to protect your asset is even though you are building a home on a leased property I believe you can do a second contract to protect your ownership of the home itself so that if there's ever a divorce situation for example you would still have ownership of the home itself even though your spouse might be able to claim ownership of the land. Then you would have to be paid out or a sale would have to happen so you could reclaim your asset investment.
Do you have more information on land leasing? When you land lease, do you pay monthly to the government or is it through the bank or do you need to buy in full? When renewing, Do they charge you for the value of the land or the house you have that may be fixed up nicely. I have so many questions on the land lease thing.
Look up Balato then you'll learn hehe
I selling land in my province you can check one in my post if your interested 😊
Many developers provide incentives if you are Filipino. I have bought several properties in Manila and they provided discounts and special payment plans only for Filipinos.
There is another loophole in Filipino law by having a new church registered in Dti.
The elder of that church can be also a foreigner and has full control over all the financial transactions including to purchase and sell land. And churches are tax exempted as well.
i wouldnt bet on that, most "2nd and 3rd world" aka developing countries are moving aggressively against NGOs and foreign religious entities. it will be a different world post-covid
@@cinnamonstar808 that's not going to happen in the Philippines with them being over 80% Catholic.
@@DrDlane but this exist, a Korean National own land and construction company here in the Philippines.
@@cinnamonstar808 I'm not interested in losing my money, many foreigners got scammed out of their money by Filipina ladies, so this guy is predicting your future, at any given time you can loose your life here, driving is extremely dangerous, I only rent a fool and his money, too many regulations.
@@edlynagamata9879 That's what he thinks. A simple report to Tulfo and all of his investments will be gone.
Hi Pete; I regularly watch your sessions. Thanks for educating a retired US Marine. When this virus is vanquished, I will be moving to SB and getting a residence. I will look you up when I (and my Philippine girlfriend) arrive. Keep up the good work! Les Lunceford
Thanks you did a fantastic job. On explaining everything. Really appreciate it.
Thanks Peter, I got understand how the townhouse could be owned by foreigners.
Hi Pete am I hearing this right? I can purchase free hold land with my Filipino minor on the title, me being his guardian can control the deed until he is 18. But also slap a 50 year lease on it and I can own any of the buildings. Which he will inherit all one day anyway. Any idea where I might find more information about this?
Yes thats it. All thats left to do is find a good lawyer to setup this structure for you. They can also advise you.
👍 very professionally presented and explained mate. My wife bought 400 sq/m in her home town in the provinces in 2016 for 400 pesos per sq/m. Apparently it's now valued at 2,500 pesos sq/m. So we've had a success story with property in the Philippines. Not that we intend to sell it - her parents live there now.
I see on Lamudi, studio apartments in Cebu that were bought off the plan, then listed for sale with 500k pesos added.
Hi sir would you like to buy hotel in Boracay?
@@joannamariecanonigo6997 show me this hotel please
Im the first one here mate..Great video and advice Pete..👍👍Both thumbs up from Oz.
Thanks Peter. Great advice!
Thank you bro. You made everything very clear. I really appreciate you. 😊
I am back sorry for delay..
I truly appreciate your comment and support. Its thanks to people like you, that I got back up and started blogging again.
Very pro and you seem to be a very good person, May The Almighty Bless You 🙏
Your video is very helpful. Thanks for sharing.
You also failed to mention what happens after the 25 or 50 year lease ends and the owner does not want to renew,,,bye bye house and all your investment !!!
How certain are you that this is accurate?
Really good deal if you don't care about your children or don't have children.
You can also have a legally binding agreement separately or have it included in the lease that at the end of the term the property and all leasehold improvements must be sold and the proceeds divided as predetermined.
you don't get into a lease arrangement unless it has "right of renewal" at your discretion..... each lease could be different, but make sure the clauses that you want are written into it... and get a local lawyer to sort it out
@@colonelfustercluck486 OK,,, I see thank you for the advise mmm regards
Great video. I'm a Yank of Filipino heritage but believe Hawaii also has leasehold land arrangements too. Thank you ( hope to test a vegemite sandwich 1 day) LOL!
Great video! Definitely abit of confusion around what property a foreigner can own in Philippines. We ended up buying land and building, wasn't straight forward but nothing is in the Philippines. Both our names are on the title and my wife or I cannot sell without other permission, (marital consent) so there's another option. 🌴❤👍🇵🇭🤙
Good luck with that one!
@@lamberko Thanks for your reply, In my opinion the Title is ownership, if your names on the Title you are the owner.
Any sale therefore would require signatures from the Title owners, in our case marital consent, because its conjugal property.
Alot of lands sales, esp in the province are not Titled just done thru local Barangy hence not recognized by any Lawyer, BIR or DAR. So illegal.
@@LifesJourneyNZPhilippines No, a foreigner's name may be included in the title just to indicate the married status of the Filipino spouse. It is not an indication that the foreigner is a co-owner. Foreigners can not own any land in the Philippines. It is as simple as that.
Yes talking to our attorney the same thing was conveyed because of conjucal consent with the marriage. However we did the Philippine Partnership with the SEC and a lease to the Foreignor@LifesJourneyNZPhilippines
@jeanmoralles977 hi. The Filipino spouse can not sell the titled property without the marital consent of the foreign husband, when titles say married to.
Awesome info...Very Good! Thank you!
There is one more you left out.If you live in the Philippines for ten years and stay out of trouble(breaking any laws) you can apply for citizenship and then own land in your name.
do you have to renounce your previous citizenship? I am thinking for a US Citizen this wouldn't work
@@redranger518 if you spend a few months within the U.S. you should be able to keep your citizenship.But if you leave for many years I think you would lose it.Don't quote me on it cause I am not a lawyer.
@@redranger518 if your retired and have enough money banked then who cares.The U.S. is turning into a shit hole if liberals get their way.I plan on leaving hopefully in 8 years
@@COYO-T If you are a US citizen then you would have to renounce your citizenship to get PI citizenship. If you are Philippines Citizens and get US citizenship they the country of Philippines has a program to get recognized as a Philippines citizen. But me since I was born American then I would have to give up US citizenship to get PI citizenship, which would be a no go for me.
@@COYO-T Liberals haven't gotten their way the last 3 years or so, Hopefully it will stay the same longer. I enjoy Philippines, but don't know if I want to live there long term. I am spoiled to USA and what it has to offer in recerations and entertainment.
Very informative, thanks a lot. See you in a few years haha
The lease renewal fee... At least as it stands now, how much is it? For example, in the Australian capital territory, you can't own freehold either, but the lease renewal fee after 99 years is like $200 for another 99 years. Is the lease renewal now in the Philippines some proportion of its freehold value or what? It could be the difference between an appreciating asset and a depreciating one. And can you renew anytime or only when the 50 years is up? In the ACT I believe you can rock up anytime and pay your $200 for 99 years.
Thanks for the explanation
Condos in Philippines charge US prices, and the rest of owning land sounds like a lot of work and rules and BS. I would just rent a nice place there and pay 200 to 400 US dollars per month. Don't like the place or get tired of it then move.
Your correct is pricey in Manila metro area. Realistically i bought in a market where i can make 3 to 5 hundred a month then use the money i make to rent wherever i go or pocket money good luck
Hey hello just wanna ask a question in what part of the US does condos I’ve seen in the Philippines for the same sizes I’ve seen for 60 grand?
Hey Pete, I've got an unusual question ... Can a PH citizen own/purchase land property (without lease) in Kalayaan?
No. Filipino and Foreigner have same rights in Freeport. Leasehold only.
Thank you for this video, i’m very interested in a townhouse condo development in puerto princessa.
Hey gio, I am looking for someone to invest here in puerto princesa. If you are interested, hit me up. I already have a plan
@@bradrar Whats your plan
Anyone thinking of buying property in Philippines please WhatsApp me on +977-9800947435
Thanks for this video 🙂
60% has to be locally owned... By value or by number of residences?
Number
Hello my friend, I just subscribed to your channel
Thanks for this great video!!
This video is great! In your last example of the Father owning/developing in his Son's name - was the son a PH citizen? Or was the Son a foreigner as well, with the mother being a PH citizen. Sent you a message on FB with a few question if you don't mind. Salamat Po!
A good idea at the end about putting land titles in your wife and children’s names.
40% of the condo unit in a building can be owned by foreigners.
The problem though is that you have to compete with chinese.
as EVERYWHERE in world. ruined Canada I heard (mafia monies)
@Go Live Balikbayan and OFW are not part of the 40% cap. Chinese and Chinese companies buys condo in bulk. Some condo being built now are by Chinese companies.
@Go Live I agree with the companies you've mentioned. But do you have any idea that these companies are very agressive with their chinese market. At lease for megaworld and SM. Try to observe the new condos of SM. There are more chinese than Filipinos especially those MOA / Entertainment City part and starting to spread. They might be renters or owners but they are very evident.
I think Metro Manila is just starting to be in Chinese Market radar compaired to Bangkok, KL, SG.
Not to mention that PH is starting to get notice by expats as one of the best options for retirement. They are staying away from Thailand and moving to PH, VN, Indonesia. Our tourism is also starting to catch up. And of course those thousands of Asian Students who would like to learn English.
Add all of these elements. OFW, BPO, POGO, Expat Retirees, Tourism, Foreign Students, Koreans. These are the reasons why PH Real Estate is Very Promising.
@Go Live hey, you might misunderstood me. Im not against Chinese buying up PH condos or invest in PH real estate. My point is Investors are coming over. We have unique markets ( BPO, POGO, Foreign Students and OFW) that Bangkok and KL dont have. You even added some markets by mentioning Singaporians and Japanese. Hence, foreign buyers have to compete with the 40% cap.
@Go Live where that nationalistic thing came from? We are capitalists / investors. We go where the money / income is.
thanks bro , very good advice...
So, just to make sure I'm following along properly: If I am a US citizen with intentions of moving to the Philippines to ultimately marry my longtime girlfriend & we wish to build a home on a leased lot of land, am I entitled to own the house I build on that leased land in that scenario? It sounds as if the answer is yes, but just want to make sure. And if so, what safeguards exist to keep from losing my home at the renewal time of the lease? You can imagine the concern someone like me would have, spending the money/time/energy to build their dream home to retire in with their spouse, only to be kicked off the land years later by a land owner who decides he wants to build a Jollibee on the land instead of renewing your lease. Thanks in advance for any feedback you may have!
Hi Pete! could you advice how you did the paperworks such as applying for TIN and consularized contracts. which embassy provides it? PH embassy or your respective country? thank you
Thanks for the professional advice
Pete if you as a foreigner tried to buy a town house ie two stories and it's on a condominium title how does it play out when you try to change the title as it would be 100% foreign owned rather the the law stating it needs to be 60/40 pinoy owned
Hi about a sublease can they also be extended with 25 years in example Clark freezone Even if the original lease taker has past away.
So you don't own it, you're leasing it. That's a big difference. They're not required to renew the lease and they can jack up the rates when its time for renewal. Also you can't get the equity out of it which is one of the biggest benefits of home ownership
Of course! I believe your first language is English don't tell me you don't understand the word lease.
What does it cost to lease a plot of land for building? Is it a one-off payment or do you pay an annual ground rent? What's to stop the land owner from increasing the rent exorbitantly?
Is that the same as buying rights to the land? I have seen a lot of ads rights only
No. Whatever you do avoid “rights only” or tax declaration property. Its means its highly risky, due to being untitled government owned lands. Its like having squatters rights.
@@Property-Club got it, thanks
Hi , if a foreigner buy condos , how long can they keep it ? For ever when it paid off ? Or until the building or condos stand up ? Or it just a long term lease thing ?
My wife is now a US citizen. I read an article sometime back saying she can buy a house and the lot has to be smaller than 1000sq meters and/or 5000 sq meters of farm land. What do you know about this? She doesn't have dual citizenship.
Hi sir still looking for assistance?
@@frichbelpositive5266 Not really assistance, just answers to my question above.
Are you making your purchases in your own name, a one-person corporation, a partnership, or a traditional corporation?
Hi, my friend watched your video, je started to search a townhouse tittled as condominium but they rare, do you know any? He doesnt want to buy condo anyway, thanks for replying
Thanks for this video. What kind of attorney can we hire to be our advisor and consultant to guide us if we as foreigners are interested in purchasing property?
Many if not all lawyers government officials are all corrupt beware.
I have been to subic a couple of times ,, I do want to build a house in the Philippines
Thanks!
Hi, Peter! Can you recommend good lawyers that specialize in real estate and has handled many cases wherein a Foreigner wants to buy land here in the Philippines?
Foreigers don't buy land in the Philippines you'll loose your money.
Trusted and smart lawyer
I'm a filipino
Citizens also theres a lot of attorney to trust
If you want to buy a lot in the Philippines
I have a knowledge of that because I'm a filipino
Hello sir good work.
For those who knew the story of Hawaii will understand why the Philippine constitution do not let foreigners can own a land but only a lease. With the exception that if you are married to a Filipino citizen, only then that you can own a share of 40% of a property.
Very helpful it I have a query What do I do if I want to sell my house and my better half has passed away and I’m a foreigner but my child has been born and bought in Philippines but with a foreign passport please guide??
I have many property land by sales here la union per square meters:200
thx for your video...Pete...what could i buy for $50K? I am interested to buy a house probably 1200 sq. ft....a house already-built to move in...thx again.
Our country is small and there aren't enough space that is available for you foreigners , so just prefer to own land from bigger countries.
so what Max for a lease 50 years ?
OK, now you have your property, you own it...
Here is your real estate question of the day.
Can you cut the branches that are in your property from the tree that is growing from your neighbors ground?
Hi.. thanks 😊 for the info.. what about the Time share contract..Hotel or resort .. do you have any info ... ?
Time share is sketchy depending on rules. Example x amount a year per maintenance and is there a 5 or 10 year maintenance lump sum. Then when you back your points what's the cost and when you want to go to another property what's the fee. When you add up your numbers you'll be surprised. My friend bought in cancun when I did the math for him he shouldn't have bought lol good luck maybe yours is a better deal
Anyone thinking of buying property in Philippines please WhatsApp me on +977-9800947435
What is a woofie company?
Thaks Pete double 👍👍😎
Nice !
Hi mate, nice video and channel. Looks like you have found a nice situation there in the Philippines. Are you able to update your views on the company ownership of property route, given the new foreign company ownership laws which allow 100% foreign ownership? Cheers.
when holding tourist visa, can be able to buy condominium?
Yes of course you can.
Can a Filipina that is an Australian citizen still buy and own property in the Philippines? Or would she be considered a foreigner or maybe as a balik bayan she could purchase property? As life in Aus gets tougher for pensioners we may consider spending more time in the Philippines when we retire.
Natural born Filipinos are qualified even renounced citizens but they are no longer available for Financing
@@youcantalwaysgetwhatyouwan6687 Just to clarify, a filipino born ausralian citizen can own a "limited" amount of land?
@@lamberko how about inheriting their parents land ? Farm land , residential, commercial lands. ? As a compulsory heir, can they transfer the title unto them even if they're already foreign citizen and not dual. But they are natural born and can prove filipino lineage ? Second questions; how about lands they already owned/titled , even before losing filipino citizenship ? Does that make their ownership illegal ?Thanks
Get a dual then you have no problem
Yes po, you can still buy a property in the philippines. Can i present some affordable properties po to you. I can send them thru email or in messenger. Just in case you might be interested, please feel free to message me. Thank You and regards
What does it mean when they say tax declared property is that property that’s not titled 🇺🇸
Tax Dec means untitled and can be risky.
what's a whoopi??
it's cousin to the QUIEF, or p*$$y fart.
If i buy and own a condo?, is their any tax i should pay in immigration for staying for years in philippines? Or what kind of Visa for im going to get? Any idea how much would it be?
Hi maam maybe we can assist you
Hi Pete, Can I buy a lot or, house and lot, and have a power of attorney to trust the investment to my Filipino child when they reach 18. I trust the mother to place title in her name in meantime if there is no other way. If house a lot, I want a 18 year lease also so I can use or rent out to also save income for my child in his adult study years. Do you know a property attorney that specialist in this situation. Thanks Neil
Hi sir maybe we can assist you
can you buy the house and your girlfriend buy the lot, thanks. And can you do a 50 year lease on the lot? You did a video on Tagaytay condos, could you do one on homes in Tagaytay, not too fancy ,please.Its a shame foreigners can't buy homes and lots in the Philippines, with folks fleeing America and with all the islands, it could be quite interesting.
THE BEST SCHEME: Be the trustee and buy under your kids name with a 50 year lease to you, or put you your wife and kid on title 1/3 each. watch out if you wife dies her parents and family get her share, not husband that's a big rip off.
If you buy a house, what are property taxes ??
the price depends on your location..better check to your local municipality..
Pete, the insect sounds or external noise did not allow me past the 2:00 minute mark. Enjoying your videos, but bring it inside if the horde of crickets are upon you.
Awakened Ronin Yes it was very annoying. Went outside due to good lighting 💡. But it really was a fight against the cicadas.
Appreciate the feedback.
I'm offer here la union property land by sales
I am American and my kids are Filipino citizens. Can I place any type of property under their name?
Yes of course.
Yes sir😊
12 minute video on how to own REAL ESTATE...not LAND....Foreigner still can not OWN land...only lease it!
If I’m Filipino American, would I count as a Filipino or foreigner? If I get Philippine dual citizenship then would I count as non foreigner?
Yup get dual you'll be ok but make sure you understand roi unless you plan on living there permanently then doesn't matter
I'm Cali born myself but I'm of Filipino lineage too. Hmmm- will check...
I understand they don't want foreigners to come in and buy up all their land but some of this sounds shady. Frankly you can see just how well some of these condos and such are maintained. This is exactly why I would never purchase a unit that is 60/40 owned. They are all about making the sale but not so much about the upkeep of the jointly owned condos and such. Do research on facilities in the surrounding areas and their build dates. Then go see how badly they have deteriorated in short periods of time. There is little to no management to make sure your investment will retain or even grow in such areas on these properties.
If I buy it will be properties we own outright and we will be the primary responsible for upkeep. Otherwise your investment will potentially go down the drain in short time because other owners won't maintain their portion of the property. I will buy only property we have 100% ownership over and they will be put in both of my sons names when that time comes.
Just subscribed here. Wondering if you can feature our houses in Las Pinas City House and Lots under leasehold rights, and Townhouses under Condo Title for Non Filipinos. Just across Ayala Alabang. Let me know
Interested! Feel free to email Arianne: ariannefria@gmail.com
TLDR; No, you cannot own real estate in the Philippines, period. All these tips and tricks do not change the fact that if it is no a 100% freehold to your own name, it is not true ownership. You are just delaying the inevitable fate of loosing the ownership to some Filipino some time in the future. Oh, and btw, apparently you can only lease for 25 years, not 50, and extend only once for another 25 years. But maybe that varies from region to region.
If you do not know the real estate rules in Philippines, do not buy!! Not all brokers, realtors, etc are not all there for your own interest. Lastly, forget taking legal actions if needed.
leasing from the state is complete nonsense, you will build a house, and then die in a few years and goodbye three-flor villa, no inheritance for your relatives. In this case, you can simply rent, although leasing for 50 years still just rent as it is.
I respect your opinion and understand you. Having said that I have a different opinion and feel I have to point out what you said is incorrect. You can top up when you get to 25 YRs. Just make sure you don’t let it go and are compliant with the law.
Let your Filipina wife purchase but lease back from her. Just let her know that you want the leaseback in case something happens to her. Because think about it, if the property you pay for, is in your Filipina wife's name, and she has an accident and dies, then you cannot be the heir to the land with a home since foreigners CANNOT own the land. But you can lease!
be the trustee and buy under your kids name, or put you your wife and kid on title 1/3 each. watch out if you wife dies her parents and family get her share, not husband thats a big rip off.
with my BF he didn't have to buy, I bought it for us, less hassle. He didn't have to pitch in. He has his in US and mine here in PH.
Lucky guy ;)
I am currently holding 6 properties and having to work 2 jobs and a side business to pay the mortgages. If I can hold out then we will be golden later in life. Still have a long way to go, its an endurance race.
@@Property-Club That's the same struggle I had with my bf. I never wanted him to come here if I can't give him space to acclimate here in the Philippines. Took us years before we met. I worked myself to the bone, because I don't want his family to think of me as a "passable gold-digger" --not my words. LOL.
those crickets tho......sound annoying
Sorry, foreigners can NOT own 100% of the whole property or land and have it forever in the Philippines.
You can own only 40% of the property or lease it for a limited time, even if you get married to Filipina in the Philippines.
If you want to do the trick with your children, conditions are also clear: your children with Filippina must be Filipino citizens to own or heritage 100% real estate or land forever. If they do not have Filipino citizenship, they will be a foreigner.
In the Philippines, divorce is not legally recognized, and there is no divorce law. It is until death splits you, and then you will be memorized as a husband from a foreign, FOREVER.
Having a Filipina wife is a beautiful life, and living in the Philippines for retirement is the best decision in the current geopolitical and economic crisis.
Nothing personal but Philippines sounds way too complicated
Your not a sovereign and the filipino who is selling to you is also not sovereign. So will be stuck forever in the legal name paradigm. If the child was Sovereign, that would be a different lawfull circumstance
if the wife dies you are screwed it go to her family not you
Own real estate? Hahahaha, if you can't sell it , you don't own it .
So basically you CAN'T OWN property in the Philippines. Got it