Suggestion Best Posts in Thread: Foreigners and Expats, Economic progress think tank. Outside the box!

you answered that right there yourself - in Europe or any other first world place you are an equal when competing with the locals in the land market. but here, opening up the market for foreign investment would be entirely unfair to the locals because they, with very few exceptions, are not at all able to bid over what any chinese, korean, european or american is able to pay.

Markets don't always produce fair results, in fact this is so by definition. Therefore, such things have to be regulated.

 

Ah yes, another idea. Implement “Title Insurance” so that when relatives of the seller come out of the woodwork making ridiculous claims that they have ownership of the land via some extrajudicial settlement that was notarized by an attorney, and never recorded on the title, and sympathetic judges who favor nationals allow the claim, you are insured for the loss. Buying property here is very risky for newcomers. It is a risk many foreigners don’t want to take. This type of reform must accompany any allowance for foreigners to own small parcels of land, and if not, at least for Filipino spouses to purchase such property. Also, speed up the issuance of titles by at least 1 year.


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It is very hard and lengthy to try and sell a house to a foreigner when he has put the investment in his “trusted” partner’s name, assuming a foreigner coming here has the funds to buy a house here. Took me over two years.