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Thinking about Investng?

Are you a Philippine Native?

Do you send money home?

Do you want to plan for your future?

Do you have the money to invest in real estate?

If you have answered yes to any of these questions, investing in Philippine real estate may be a great financing plan for your future!

The Philippines makes money from overseas workers who have chosen to work in higher-paying countries. In 2017, $28.1 billion USD was sent overseas to the Philippines accounting for 10% of the country’s GDP. Remittances from foreign workers is essential to the Philippines’ economy by sustaining the domestic consumption and growth.

Overseas Filipino workers and other Filipinos abroad have the same benefits as domestic Filipinos when it comes to ownership rights. Benefits for Filipinos include: owning physical land instead of just an apartment or rental property, purchasing land under your name only, can monitor your land from overseas, no caps on the percent of property you can own, and lower rates for down payments.

Real estate is a long-term investment that does not have instant gratification but, instead, long-lasting benefits for the future. Properties in the Philippines increase in value anywhere from 3 to 5 percent each year due to appreciation. Areas undergoing revitalization increases the surrounding value of the land in less than 10 years. Land depreciation is very rare, so your investment can last a lifetime and property values will continue to rise.

The Philippines continues to grow economically while having a young population strong in consumption and eager for development. Investing in real estate can be a great opportunity for you if for anything to have a secure property for retirement, lifelong rental property, or your dream home!

Why choose The Philippines?

Here are a few reasons why the Philippines are an excellent place to invest.

1.) High potential economic growth.

The economic growth for the Philippines remains the fastest among the countries in Southeast Asia. The GDP (gross domestic product) is expected to remain at 6.9% in 2018 due to high domestic and international demand. A stable economic growth boosts the confidence of people to invest in the Philippines.

2.) Greater rental gain.

The real estate market in the Philippines offers appreciation and reasonable rental yields. The rental yield shows what a landlord may expect to get from their investment before taxes, maintenance fees and other costs. The rental yield in the Philippines is currently is 7.51% which is above any other country in Southeast Asia.

3.) High demand for housing.

The population in the Philippines is currently over 100 million people. Forty–four percent of the population lives in urban settlements or in the major cities. The population continues to grow while the amount of livable land remains the same. As more people continue to move to urban areas for better paying jobs, education and healthcare, a steady demand for rental property will be realized.

4.) Increasing foreign buyers and renters.

Political and economic stability as well as the lower cost of living and relaxed lifestyle are attracting more foreigners to the Philippines. Therefore, there is a high demand for accommodations. While local real estate laws prevent foreigners from land ownership, they can still buy houses, buildings and condominiums.

5.) Urban Renewal.

With the population growing as it is, there has been a continued need for urban renewal to handle increasing living demands. With the lack of usable land in urban areas, development has expanded out to townships in other provincial places. These urban renewal initiatives will open up more real estate investment opportunities for local and foreigner buyers.

The Philippines is a young and progressive country that has a lot to offer. It makes sense as an investor to take advantage of this opportunity and reap the benefits.

What are the Requiements?

Both Filipinos and foreigners can buy condo units in the Philippines. The paperwork is essentially:

Proof of payment of Reservation Fee

Proof of sufficient income

2 Valid IDs (passport, if foreigner)

Reservation Agreement or RA (to be given to you by the developer)

Buyer’s Information Sheet or BIS (also to be given to you by the developer)

Type of Ownership?

Philippines there are two kinds of condo “ownership”: Leasehold Ownership and Perpetual Ownership.

Leasehold Ownership

This is a kind of limited possession that lasts roughly 50 years after which you can either extend the lease for 25 years or return the property to the developer/landowner. In effect you are buying the right to live in the property for a fixed amount of time. This kind of ownership might make strategic sense to you. Just be sure to check the leasehold stipulations so you know who takes care of maintenance and repairs as well as what’s covered in the monthly fees etc.

Perpetual Ownership

With Perpetual Ownership you get to fully own the property. You don’t have to give it back to the developer/landowner after 50 years – or any amount of time. You can live in it for as long as you like and eventually pass it down to your kids or grandkids as an inheritance.

Leasehold and Perpetual Ownership each have their advantages, depending on your needs and goals. If you’re an investor who wants to make money renting out multiple units, leasehold may be a good option for you. If you’re a homeowner who wants to pass something down to your family, then Perpetual Ownership is what you need.

Make sure to look for this option when scouting.

Contact Agent

Nadiya Geraci

Broker / Agent

Give us a call to schedule a presentation

773-562-9044 nadiya@vistagrouprealestate.com