got it, because I am going to be there on a long term basis, so my first 2 intended bahay is for myself to stay , not for rental or investment.
I will look at Robinson Land when I am there cos now I am still stuck in sg and my, cant move much.
So, how much did you pay per sq ft for a sea frontage and which area is it located ??? Just curious.
I bought it almost 10 years ago for less than 200k php. Paid in 12 instalments. Subsequently I wanted to buy the neighboring plot and I was quoted twice the amount for a smaller plot. It's situated on the island of Alabat. Quite a distance from Manila. You know where?
Foreigner can't buy land directly. But you can set up a company there to buy land but you need to have a local partner. A lawyer would be able to prepare some documentation for you such that this partner cannot impede anything you want to the property and will have no beneficial interest in it. I have bought a 30,000 sq ft land by the sea inthe province.
If you plan to retire in PI you should live in the province and rent out your condos. The rental return is good. The places to look out for is Makati, Ortigas and BGC. Ayala is currently the best developer but they do not allow you to use the apartment as a service apartment and they do not allow sub-sale. Another good developer is Robinson Land. But if you are thinking of making money from resale better think twice. Though all my condos have appreciated in value it's difficult to dispose of them at market value. If you need to sell your property value must have appreciated by at least 30 percent to make it worthwhile.
Buying a condo in philippines as a investment will be very high risk cause of all the factors told and also the fluctuation of peso/USD rate. The condo might appreciate 30 percent but if USD drop you are screw also. I want to buy a condo mainly either to stay near my gf's place or for rental to the calling centre workers.
I am very interested in this corporation thing cause I am planning to really retire long term philippines. Can you PM me more on this? Looking to buy some beach front home in Bohol, Panglao island or somewhere near a good diving spots like Padre Bungo as a retirement home next time. This is in case I get sick of staying in the city and want to stay near a nice beach relaxing my days away.
I bought it almost 10 years ago for less than 200k php. Paid in 12 instalments. Subsequently I wanted to buy the neighboring plot and I was quoted twice the amount for a smaller plot. It's situated on the island of Alabat. Quite a distance from Manila. You know where?
ya, quite a distance ( google maps ) but definately a good buy, I am looking at a plot of land in batangas, seen once, cannot make decision yet, will look again. Local phil friends are saying cavite is hot now, but I really dont like the design of the house and having to pay 2+ to 3 mil is really not worth it, think can buy bahay lots more nearer to manila. Dont remember what developer is that but the coastal highway linking it to manila do make it look attractive but serious doubts about their highway classifications.
ya, quite a distance ( google maps ) but definately a good buy, I am looking at a plot of land in batangas, seen once, cannot make decision yet, will look again. Local phil friends are saying cavite is hot now, but I really dont like the design of the house and having to pay 2+ to 3 mil is really not worth it, think can buy bahay lots more nearer to manila. Dont remember what developer is that but the coastal highway linking it to manila do make it look attractive but serious doubts about their highway classifications.
Always go Manila till fall in love with it till want to settle down there..quite natural what =p
That why for landed..got to really move there..if not squatter come stay for 10 years..hard to kick them out...there is a law that if they stay for x amount of years on the land, the land is theirs man.
Buying a condo in philippines as a investment will be very high risk cause of all the factors told and also the fluctuation of peso/USD rate. The condo might appreciate 30 percent but if USD drop you are screw also. I want to buy a condo mainly either to stay near my gf's place or for rental to the calling centre workers.
I am very interested in this corporation thing cause I am planning to really retire long term philippines. Can you PM me more on this? Looking to buy some beach front home in Bohol, Panglao island or somewhere near a good diving spots like Padre Bungo as a retirement home next time. This is in case I get sick of staying in the city and want to stay near a nice beach relaxing my days away.
Rental returns are good for certain areas. Where can you get 12% ROI? A 3 million condo in Makati can fetch 30k rental per month. Even if you are not selling you get your principal back in 10 years. Since you are planning to retire there you should invest in something that will provide you sustenance for 20 years at least.
29-02-2012, 02:49 PM
