How to Own a House in Philippines?

Philippines Property for sale

The Philippines have been one of the most popular destinations in the world. The place is not just land but the archipelagic place is technically a collection of Island with beautiful countries surrounding it. Who would not want to own a place at this beautiful place? The Philippines property thus is so cherished by many who would want to settle here. The fact that foreigner can own land in this beautiful location makes the process even more simple.

How to Buy Property

The place enjoys a low cost of living and a highly welcoming community. The beautiful beaches and the tropical climate allow people from different geographical location to adjust faster.

Buy a Condo

The buyers should look at Philippines Property for sale and locate the condo if they wish. The property will be traditional but the owners can style it the way they like and create a beautiful structure. The building where the condo is situation should have Philippines resident as a rule which is fine as far as the property is yours.

Buy a House

The house can be owned by the foreigners but not the land and this makes it a little tricky situation. There is an alternative for it which is to lease the land and build the house or purchase the house on it. The lease can be entered with the authorities for an initial agreement of a period of 50 years. This can be renewed for 25 years just once in a lifetime.

Buy using a Company

Corporations has the right to own land in the Philippines and thus a foreigner can buy property using the corporation. The corporation, however, must have a partnership of Filipinos to at least 60 percent.  The corporation will have to abide by the laws that govern them in the county and thus seem like a long process to own a place.

When you are buying a property then you will have to pay the required taxes which includes a capital gain tax of 6% which is paid by the seller but in some cases gets on to the buyer and thus needs to be accounted for.

Philippines offers a wide range of price for the property like any other country and the buyers must go through the guide before they take string steps. Owning a beautiful house will be a great thing especially when the deal made is simple and profitable in all aspects.

About Author: Super Home Builders
Leading Home Builders in Brisbane specialised in building luxury homes, slopping block homes, small or narrow lot homes with all type of renovations including home renovations, bathroom renovations, kitchen renovations, home additions and much more.

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