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Our website aims to help every person to find listings of different properties based on their preferences with just few clicks of the mouse and browsing. Philippines Real Estate Asia provide specific details of every listing to make it more convenient and faster to those buyers who wish to buy a property. In addition, one of our features, provides you with extensive search engine in which you can search your dream house or chosen property by location, property details, price and amenities.
With easy to use navigation and quick registration, make Philippines Real Estate Asia as your place to list down all your properties to draw attention from potential buyers.
Foreign Ownership of Philippine Property
A foreigner in the Philippines can own condominium units. You may own 100% of the unit but not more than 40% of the whole condo project. Foreigners owning a house or building in the Philippines is legal as long as the foreigner does not own the land on which the house is build. In addition, there are also pension houses available that give a comfortable and relaxing accommodation. And most of the pension houses give affordable rates.
Generally, only Filipinos are allowed to own a real estate in the Philippines. For many foreigners, there are temptations of owning a beachfront mansion or a grand manor in the province but the problem is they cannot own it under their name. However, a foreigner can own a land by acquiring any of the following:
1. Lease the Property – If you wish to rent a land, you can lease a public or private land for a long-term contract for an initial of 50 years with an automatic renewal of 25 years.
2. Marrying a Filipino Spouse- This is the easiest and simplest way in owning a land. Your Filipino spouse will be the one to purchase the land that you desired.
3. Inheritance when spouse dies- It means that when your Filipino spouse dies, you as the natural heir and your children if you have one, will succeed as the legal owners of his or her estate.
4. Filipino partnership- Make sure that your partner can be trusted and will not take advantage of you. Having a Filipino partner is another option in acquiring land here in the Philippines. Wherein your partner will own 51% or more of the property and the remaining percent will belong to you.
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