Can a Foreigner Buy a Condo in the Philippines? I know this question has been asked too many times before already but only now that I had the chance to expand about the answers. Recently, I posted the best tips in buying a condo in the Philippines which you would want to read before proceeding further.
If you are one of the millions who wish to purchase a condo in my dear pretty country but you are not a Filipino citizen, then you must know the stuff discussed here.
Are you an American who wants to buy a house here? Or simply a Filipino who switched to another citizenship when migrated abroad but now into deciding buying a real estate property here? Or are you British (reminds me of someone) and loves to own a beach house in Boracay or Palawan? Perhaps you want to know first the laws and rules here before acquiring your new asset.
Can a foreigner buy and own a condominium unit or a house in the Philippines?
The answer is yes…provided the sale and ownership meets the certain conditions according to Section 5 of RA (Republic Act) 4726 a.k.a The Condominium Act which states that
“…That where the common areas in the condominium project are held by the owners of separate units as co-owners hereof, no condominium unit therein shall be conveyed or transferred to persons other than Filipino citizens or corporation at least 60% of the capital stock of which belong to Filipino citizens, except in cases of hereditary succession.
Where the common areas in a condominium project are held by a corporation, no transfer or conveyance of a unit shall be valid if the concomitant transfer of the appurtenant membership or stockholding in the corporation will cause the alien interest in such corporation to exceed the limits imposed by existing laws.”
To simplify the words in that geeky statement, it means that foreigners can buy a condo unit as long as the project or the corporation who built and own the project is acquired by 60% or more by Filipinos.
Thus, if you are a foreigner and wants a condo in Makati so bad, you can buy it and have the title in your name provided that said condo building or project is owned by not more than 40% foreigner.
Example: Sam is American and wants to purchase a pad in Makati which is a project of ABC Corporation (which is 38% foreign corporation, 62% Filipino). Can Sam buy his dream pad in Makati and register it on his name? The answer is YES!
Can a former Filipino citizen who is now a naturalized foreign citizen in another country still buy and own a house in the Philippines?
Yes, under some conditions plus he or she can apply for dual citizenship to be a Filipino citizen again. He or she then can have all the pleasure and rights of being a Filipino including buying nd owning lands, houses and real estate properties in the Philippines.
Of course we were talking about units, pads and condos there. What about land and bigger real estate property?
Can a foreigner buy land and register it on his name and ownership?
The answer is, no. Foreigners are not allowed and not entitled to buy and own land here. However, he can indirectly own it by means of 40% equity in a corporation or setting up a corporation here where 40% or less can own that land.
Can a Filipino purchase a land on behalf of a foreigner and just transfer the name, title later?
Under the Anti-Dummy Law, that is illegal and anyone proved to be breaking that law and its scope can be penalized. It’s simple to follow the rule, no foreigner can own a land in the Philippines unless he became a Filipino citizen. He can then buy lands and properties, the sky’s the limit.
Conclusions:
Foreigners may own condominiums, buildings and houses in the Philippines as long as they do not own the land where it is built. They can also allow rent or lease under certain conditions.
Filipinos including former Filipino citizens and Philippine majority owned corporations are allowed to own lands, buildings, condo units and houses.
Can a foreigner buy a condo unit from secondary market (resale by a filipino citizen) if the 40% foreign cap in the condo ownership is not exceeded yet?
Hi Ted, I’m selling my Condo in Pasig, I can send you pictures just email me. it is ready for occupancy.. Clean title and fully furnished. You can own it 100% even if you are a foreigner. Email me
are there any restrictions when a foreigner owner resale a condominium property? thanks in advance
what if the condominium project already reached the foreign cap of 40% and a filipina married to a foreigner wants to buy under her name. can this be allowed?
Good day
I am selling my condo unit at tower 4 of smdc grass residences in quezon city philippines. Hearts of Manila in philippines. Its a ready to occufancy (rfo) unit. It Will only start these year 2017 of september.
Im the direct owner and you can contact me at my email
Whatsapp# +65 9420 4004
What type the unit is and how much do you offer
Hi! What are the requirements and process for buying apartment (condo) for non resident foreigner in the Philippines?
hi do you want to buy our condo in metro manila ?
Hi who wants to buy condo..? The area is malati manila..near manila bay and Robinson’s..please contact.. 09365492529.. Thank u..respect my post..
iam a american how can i buy your property?
Hello can foreign buy condo under preselling and can foreign use bank loan
What if the foreigner is a legal heir of a Filipino. This Filipino then decides to the he will pass on the ownership of a piece of land to his heir who is a foreigner, subject of course to inheritances taxes.
Question: By virtue of inheritance, is this valid?
I thinks it’s valid. I don’t know any law prohibiting someone about inheritance unless it is specifically stated in the will that the heir should become Filipino
I have 2 condo units 2BR at Cypress Tower for lease or sale. One is currently leased till Apr 2017. If anyone is interested for investment and renting. kindly send me an email at wilfredomaano@ymail.com
Hi, I am an American Army Officer from the US. I purchased a condo in Circuit Makati from Alveo Ayala Land for long-term investment. I’m seeking partners to share this ideal passive income investment that will turn over and begin producing returns in 2019.
For more information, please contact me through my site
Own an AYALA LAND CONDOMINIUM PROPERTY for as LOW as;
Php6000 – STUDIO UNIT
(*Approx. 22.62sqm. – 23.87 sqm.)
Php12000 – 1 BEDROOM UNIT
(*Approx. 40.91 sqm. – 41.84 sqm.)
Php17000 – 2 BEDROOM UNIT
(*Approx. 56.58 sqm. – 56.82 sqm.)
PRE-SELLING PRICE, FEW UNITS LEFT!
(Based on 10% SPOT DOWNPAYMENT)
More flexible payment terms available
RESERVE a unit FOR ONLY Php20000!
We are located at Avida Sales Pavilion, Geonzon St. IT Park, Lahug, Cebu City
For RSVP inquiries contact;
Mr. Marlou G. Oclarit
0933-481-3037
Corporate Accounts Officer – Avida Cebu
I have a unit at One archers place, Just beside the prestigious school De La-Salle University. Developer is One of the owners of DLSU itself. I have 24.4 sq meters studio unit for P 2.5M. Also my friend has 33.5 Sq. meters 1 Br. for P3.2 M. CALL me if interested or email me +971557837553
Hi, I am an Agent from Alveo Ayala Land. I’m offering commercial and residential units for your personal use or for investment use.
Ideal for rent out for passive income.
Locations:
Makati Central Business District
Vertis North beside Trinoma Quezon City
Serendra and High Street South BGC
Portico Pasig
Celadon Manila
For more information, please contact:
Why the Philippines law don’t allowed a foreigner to become the owner of Land, House or Condominium.
If A philippino(a) go abroad (Europe) she have the same Rights as a Europeen to become House Owner.
Philippines don’t like people who want invest in there country ??? Who will put a lot of money in Land, House or Condominium if he never can be the FULL owner ???
Foreigners have no rights in the Philippines seems !!!
you’re correct. This is why this country will always be poor. In order to succeed at anything, you must be educated and willing to prosper. The government here is neither
But what about after 50 years? Does the owner continue to own the property forever and what about maintenance costs or insurance? Can it be gifted as part of will in time of death?
I have a condominium unit at Suntrust Condominium Manila and was thinking of reselling it. Thanks for the info.
how much are you selling your condo ( suntrust parkview?) how many sq meter? and what floor?
Youve mentioned foreigners owning/buying condo; howabout foreigner “selling” their condo? whats the procedures?
with all due respect, perhaps there’s an error in your understanding of the law. when someone purchases a condo unit, that purchaser becomes a shareholder of that condo corp.the condo itself is the corp. so when the law says that the corp must be 60% filipino owned, it means that the foreigner cannot aquire more than than 40% of the stockholdings of that condo corp. you see, the units/ shares that a foreigner can buy is subject to that 40% limit.
You say the contrary of the article. I am French. Can I be the only owner of a condominium in Manila ? What is the truth ?
You may own a unit/ units of the condominium project here in Manila. Licensed Real Estate Broker here. If you need assistance, you may reach me through Viber
hi, what are the requirements if buyer is a foreigner; not leaving and working in the philippines? will buy a CONDO unit direct to first owner? what legal or supporting documents she needs to prepare?say she is australian citizen and will visit to sign deed of sale and pay in full.. please advice. send tru email, thanks!
go to the developer of that condo building, and see if the seller is the real owner of the unit. ask for the CCT and see if original, CONDOMINUM CERTIFICATE TITLE, then ask for a copy and verify the authenticity at the REGISTRY OF DEEDS from the CITY HALL where the said condo building is located. also ask for the BIR (tax paid) this also a sign that he is the real or existing owner…
ALSO there is like a condo management office, verify also if it is registered under his name..
The Viridian at Greenhills is a 53 storey residential condominium tower located at a lot area of 3,000 sq.m. along Connecticut Street and Missouri Street at Greenhills, Ortigas Center in Pasig City Philippines. It includes 50 residential floors, 4 basement parking levels, 2 retail levels, an Amenity floor, Sky Gardens, 6 elevators, a freight elevator and a helipad.
This location is ideal for a residential complex as it is still within the Greenhills Shopping Center so the residents will have complete access to all of its features and amenities, yet the site is located on the periphery of Greenhills enough to feel like a more private residential community.
Call/Text/Viber: +639064115110
the unit is in pasay manila Philippines, he was told the unit was clear title??
I have a question please, my friend purchased a second hand unit (one of 5) he was supposed to get cleat title on the purchase, now the previous owner is asking him to but part of the land that the unit is built on !! this seems impossible as the unit cant be up in the without land content to be built or sold or lived in?? what can u advise me about this please, regards george
Can a foreigner apply for dual citizenship and buy property in the Philippines?
A foreigner can become a naturalized citizen of the Philippines if he meets the requirements for Naturalization law and if made an oath to leave his/her former citizenship
Consistent with Philippine Constitution, there is NO Dual citizenship. If you are an American naturalized as a Filipino, as much as Philippines is concerned you are a Filipino.
If you are a Filipino and have acquired citizenship of another country without renouncing your Philippine citizenship, Philippines will still see you as a Filipino and that other country will see you as their citizenship and there arises a fiction of dual citizenship – but its merely a fiction, not a status.
Thank you for sharing these details 🙂
Good day to all 🙂
I am looking for someone to assume(transfer of name) my units from SMDC both are pre-selling I got it on it’s INTRODUCTORY PRICE plus discount from the agent. Details are as follows,
GRACE RESIDENCES
1 Bedroom
Unit 1545 – 27.33SQM
TCP = P2,098,302.16
Monthly = P8,780.16
Terms = 15% for 36mos and 5% on 37th month
Already paid 15mos
Facing Swimming Pool
BREEZE RESIDENCES
Studio Type
Unit 2125 – 22SQM
TCP = 2,107,446.90
Monthly = P7,277.93
Terms = 15% for 40mos and 5% on 41st month
Already paid 16 mos
Facing Makati CBD
Please e-mail me viber or whatsapp +6583832490 we can negotiate on the terms for the assume value.
09268299888
am interested
Hi,
I am selling a 2bedroom 50 squaremeters condo unit at sta.mesa manila. You may email me to see the unit first.
Thank you.
i m a dutch can i buy a store wby my name and can i buy a condo by my name?
When you say corporation, is it limited to condo corporation only?
If I own apartments in a condominium in the Philippines, and I am a foreigner say British. Then can I be on the board of directors of the Condominium Corporation?
Yes if majority of the members of the board are residents of the Philippines and if the corporation has less than 40% foreign equity