9 Property For Sale in Philippines

Considerations of buying Philippines property

The Philippines is located in the Western Pacific, and is comprised of 7000 islands. The year-round tropical climate and beautiful island scenery makes it a wonderful location to live in.

It also has one of the fastest growing economy in the Southeast Asia region. According to the IMF, the GDP for the Philippines in 2017 was 6.6%. The stable economic growth increases the appeal of investing in the domestic property market. In addition, it is a popular location for expats to relocate to: Locals are well-known for their friendliness and hospitality; many locals also speak high-quality english; and the cost of living is very low. The high rental demand from expats assist in increasing the potential value and rental yield of certain properties. The growing population also means that investors can anticipate greater demand and higher prices in the future in prime neighbourhoods. For all these reasons, Philippines property is incredibly enticing to foreign investors.

In addition, the Philippines government is highly transparent with property investment. Philippines is home to one of Southeast Asia's best land registry systems. Owners have online access important information concerning their property such as their title deeds.

Philippines Property Regulations: While foreign investors are unable to own land, they can purchase Philippines property. However, there are certain regulations that they should be aware of. First, income is taxed at a flat rate for non-residents, which will affect any rental income received. There is also a transfer tax that is split between the buyer and the seller for the purchase of Philippines property. Other than this, there is also an annual property tax based on the given value of the property.