⌛ owning land and property as a foreigner

Don't know...but have heard that a change to the law is very likely with some reasonable stipulations to block exploitation. Some realtors have been flagging it (but not flogging it - as far as I know).....as you'd expect. Govt trying to attract as many retirees as possible. Great cash cow for the country....retirees do well out of it too. They have dropped the cash requirements for bona fide retirees without a Philippines connection (such as married to a national) considerably just a few months ago.

 

The whole picture of foreigners owning properties in the philippines comes with pros and cons ,but as a filipino I could perhaps be too odd in favour of the agenda of foreigners to own residential land properties ,but with defined limits and restrictions .Just as filipinos residing abroad can own properties and lands ,then why not with residing expats too.

 

I agree. Something fair and equitable...say one block of land with a 1 or 2 thousand sq metre limit. I personally know some older Australian couples (non-Filipino) who were interested in spending their 'golden years' there - but put off by the land ownership issue....a lot of people (especially older ones) just feel more secure owning the place where they live.....

 

I have to agree with yabs on this one - a retiree can long term lease (25 or 50 yrs) under current law - there are enough rich pinoy families and expats buying land now without opening the market up to investors who never intend on even visiting the philippines ....speculating and driving the prices out of reach for everyone else - 10,000 peso per square meter for beachfront, anyone???
(although I am a scientist who doesnt understand the complexities of this issue it's my gut feeling it would not be a good thing)

 

If there are restrictions such as the owner must reside on the land and it cannot be used for any buisness grossing more than $5,000 US per month it could block the rich buisness prospectors while allowing the foreign person to own his own little world : )
but it would have to be free of loopholes that can be abused and taken advantage of by infuential people... something rare in the philippines

 

I agree. One block of land and you have to build and live on it within a reasonable period....I personally wouldn't mind some Japanesse neighbours, had some before and they were great. Don't know how Koreans would be...

 

there are plenty of McDonalds here in Korea - you can have the best of both worlds ; )
its a breath of fresh air when I get to cebu from korea -
when filipinos go through a crowd, they do so with both hands in front palm to palm - most koreans plow through , oblivious to the people being pushed out of the way - the older ajimas are the worst
its not so much ignorance as being self centered to the point that everyone and everything besides their own self at the moment is unimportant - they are that way to each other also - after 6 years here I usually shrug it off but sometimes its irritating - like when a cab stops in the lane to let off passengers blocking the road even though there was room to pull over right there - or when they block intersections in a 4 way gridlock because they have to pull up even there is no way for them to get through
I wish i could make even half my salary in cebu or dumaguete - I would move in a heartbeat

 

come on yabs...live and let live
on the plus side they tend to stay together in groups that are easily avoided - the one thing that bothers me is the ones on quick package dive trips that have no respect for the corals - koreans arent the only ones, though - ive saw japaneese divers from marine village a few years ago "standing" on table corals at balikasag for a photo-op - chunks of coral breaking off under their fins - almost makes me want to take them deep and cut their hoses -
that said, there are responsible japaneese and korean divers but the few really bad ones and the DM's that do nothing other than make $5. selling the photos ought to have their cards revoked