The Philippines is a modern, large Asian country located in Southeast Asia.
The Republic of the Philippines is a large island nation comprising over seven thousand islands in the Pacific Ocean.
The country has a substantial population of 115,000,000, and the population is constantly growing.
The Philippines has a tropical climate.
The average annual temperature is approximately 28°C and does not fluctuate significantly throughout the year.
The Philippines is divided into 18 regions with 81 provinces.
The Philippines became a fully independent state relatively recently, in 1946, gaining independence from the United States, but it still maintains both cultural and economic ties with the United States.
In particular, the Philippines' largest trade turnover is with the United States, and American tourists are among the most popular foreign tourists visiting the country.
Leave a request for a free consultation from Domik.io specialists
We will offer you our services for selling real estate anywhere in the world.
Philippines, Manila
Philippines, Manila
Philippines, Manila
Philippines, Manila
One of the most important components of the Philippine economy is the construction and real estate sector. Several thousand construction companies of varying sizes and specializations operate in the Republic of the Philippines.
Both residential and commercial properties, as well as essential urban infrastructure, are being actively constructed. The Philippines' population is constantly growing, and urbanization is also ongoing. This creates significant domestic demand for real estate, driving up the price per square meter and motivating real estate developers to build new, modern, high-quality properties.
The real estate market is served by several thousand Philippine real estate agencies, as well as individual real estate agents specializing in local real estate. Although hiring a real estate agent is not required to purchase real estate in the Philippines, their involvement in purchase and sale transactions involving a foreign buyer is highly desirable.
A professional, experienced real estate agent will help you find an attractive investment location, a quality developer who delivers properties on time, and advise you on which properties you should definitely avoid, saving you not only time but also money.
Important criteria when choosing a real estate agency in the Philippines:
Foreign investors are eligible to purchase real estate in the Philippines, but they are subject to a number of restrictions. Land in the Philippines, as in many Southeast Asian countries, can only be owned by citizens of the country.
Foreign buyers are eligible to purchase apartments in residential complexes, but by law at least 60% of the apartments in the complex must be owned by Filipino citizens. Foreign buyers are also eligible to purchase detached houses, but they can only lease the land underneath them.
Purchasing an apartment in a condominium is the simplest and most transparent option for foreigners purchasing real estate in the Philippines, but it is far from the only one. Purchasing an apartment in a residential complex requires obtaining a Certificate of Title (CCT). Foreign buyers cannot purchase land in the Philippines, but land for building a house can be leased for up to 50 years, with the option to extend it for an additional 25 years.
The third option for acquiring real estate is to establish a legal entity in which at least 60% of the shares are owned by a Filipino citizen. However, this option has a significant drawback: lack of control over the company, which is unsuitable for most investors. The fourth option is quite exotic, but still used. If the investor has a spouse who is a Filipino citizen, the property can be registered in their name.
The Philippines has a fairly developed, diversified economy, in which tourism plays a significant role. Many tourists visit the country for a beach holiday on the stunning, picturesque beaches with clear, turquoise waters. The Philippines is also popular among divers and water sports enthusiasts. The Philippine government cares for and protects nature, and there are as many as 35 national parks, which are very popular among nature lovers. The most visited beach resorts are Boracay, Palawan, Bohol, and Cebu. The Philippines consists of four large islands, the most famous of which is Luzon.
An important destination for tourists seeking historical, cultural, and architectural attractions is the country's capital, Manila, which boasts a vast number of historical buildings, monuments, temples, and museums, as well as the famous Rizal Park and the Presidential Palace.
To make a choice when buying a Philippine property, you can check out the rating of real estate developers. And if you are interested in a specific location, check out the offers of real estate agencies in Manila.
