deerhunter74

im interested in contacting expats living in the philippines mainly in the provence of cebu 'im interested in buying property in a subdivision in the next couple of years ive read on google that a foreigner cant legally buy property if any expats could give me a little insight would be apreciated thanks

chris24

Thats about right, if your wife is filipina she can buy it, or how well do you trust your gf??

tropicofcancer

Chris is correct, moves are afoot to change this law in the future. A leasehold for seventy years could be arranged by a lawyer, but this usually only applies to a condominium (Flat).

sunnydays

It is okay to buy a condo in the Philippines provided that over 60% of it is owned by a Filipino. (we can only own 40%) I'd choose a cheap but attractive condo with good ammenities and local conections, then dispose or rent out when you decide to settle down. There are some nice places attached to golf and sporting clubs that may suit you.....and it will be security covered....and you can walk about the ground outside freely. But watchout for golf balls

guidemesingapore

I read somewhere which said "Owning of houses or buildings is legal as long as the foreigner does not own the land on which the house is build."

It seems the best way to buy property is to form a company and have 40% ownership in it. Then buy a property in the company name.

sunnydays

Thats true, on large condaminium buildings the condo owners can only own a small part of the land.
You can buy through a corporation that way and it means trusting a Filipino because you donot have the controlling say. Your bussiness partner could put his (and yours) in the bank or sell it off etc.
This is the Philippines, trust no one, except maybe your wife if you find a the right one.