Philippine Real Estate Investment and Permanent Residence Green Card Frequently Asked Questions

Is property in the Philippines a permanent property?

A: Yes, as long as you buy a property in the Philippines, then you have permanent ownership of the property. If you encounter problems such as demolition, the developer will compensate according to the price of the surrounding houses. It's like selling your own house!

2. Is there a purchase restriction in the Philippines?

Answer: In theory, there is no limit to purchase. But in terms of new home sales, the Philippine government's rule is that only 40 percent of listings can be sold to foreigners. For example, if there are 100 houses in a new building, the number offered to foreigners to buy is only 40. But when there are no places, you can buy the places that Filipinos have already bought. It is equivalent to letting the Filipinos buy it first and then transfer it to you. All second-hand houses are bought and sold casually.

What kind of house can foreigners not buy?

A: Land and villas in the Philippines can not be purchased, the Chinese can only invest in high-rise apartments. (But recently, it has been reported that foreigners have the means to buy land in the Philippines, but I don't know the operation process and authenticity. This needs to be verified.)

4. Is there a shared area for houses in the Philippines?

A: No, the area on the production certificate is the area you can enjoy, which is much better than that in China. Generally speaking, the 40-square-meter house bought in the Philippines is about the same as the 55-square-meter house bought in China.

5. How much is the management fee after buying a house in the Philippines/month/㎡?

A: The management fee in the Philippines is more expensive, generally between 70-140P/month per square meter. That is to say, a 40-50 square meter house, the monthly management fee is about 500 RMB. But the good thing is that the service is in place. The sanitation of public areas is cleaned every day, and the front desk, customs protection and parking lot are occupied 24 hours a day. Generally, there is a call system at the doorbell of the home to contact the front desk staff, which is on call ~ ~. There is something wrong at home, call the staff to help deal with is also on call. Although the management fee is expensive, it can at least be exchanged for the corresponding service.

6. Do I have to pay for the swimming pool and gym in the building after buying a house?

Answer: Both are free. When I think of spending money to go to the swimming pool in China, I don't want to go to the Philippines without paying.

7. Can I help rent after buying a house?

A: Can be managed on behalf of, help rental. Whether you are doing short rent (day rent) or long term rent, I can provide services (extra charge).

8, buy a house can send the Philippines permanent residence status?

A: Yes, as long as you are 50 years old, you will send it according to the normal process.

9. Is the auction house better or the existing house better?

Answer: the future housing is cheap, but the delivery cycle is long, and there are also developers who may become unfinished buildings because of the broken capital chain. You can get the key when you pay for the existing house, and you can ask the rent range through the people who live in this building, and you have an understanding in your heart. However, if you encounter an auction house that will be turned over in a few months, you can also consider it.

10. How long can I get the real estate certificate?

A: Under the condition that the house price is paid in full, the house property certificate can be obtained in 3-6 months (Filipinos are slow to work).

11. Can I buy a house in installments?

A: The auction house can definitely be divided into installments (generally 10%-20% down payment), but the existing house and the second-hand house are almost impossible. However, if you want to divide it into stages, there is also a way to achieve it. Services to provide loans (annual interest rate lower than Philippine bank loan rate).

12. Is it expensive to hire Filipino domestic servants in the Philippines?

A: If you are hiring Filipino domestic helpers, the monthly salary is generally between 5000-8000P. If it is temporary cleaning, it is about 200-300P each time.

13. What is the return on investment in Philippine real estate?

A: Real estate in the Philippines is not as fierce as that in China. Houses bought in first-tier cities in China may increase by 20%-50% a year. However, in the Philippines, it is a relatively stable rise, about 10% in a year. However, the rate of return on rent is very fierce, which is unmatched in China.

14. Can Philippine real estate really achieve an annual income of 10% through rent collection?

A: This has to be answered in two ways. If you buy a house for rent now, the annual income will definitely not reach 10%. At present, any house in Makati is above 1.2 million RMB, and the annual rent is between 6 and 70000 RMB. Such an annual return is almost 5-6%. However, I have a client who bought the house next door to PBcom in 2014 and spent 4.2 million p (about 550000 RMB, and the exchange rate was between 7.2 and 7.3 at that time). Now the monthly rent is 5500 RMB, and the annual income is over 10%. Just like the one you bought in Beijing for a 500000 in 2000, the annual rental income can now reach more than 10%. Therefore, as people's demand for wages is getting higher and higher, it is normal for houses to rise in price. But now when buying a house, there are also ways to make the annual rental income reach 10% ~ ~

15. Do you need to decorate your own house?

A: Houses in the Philippines are almost simply decorated when they are turned over. All you need is to buy some furniture and appliances.

16. How to exchange money for a house in the Philippines?

A: For example, a 8 million P house you need to buy, you can tell me in advance that you need to 8 million P cash, the same day you give our card to 8 million P equivalent amount of RMB, I this to 8 million P cash.

17. Can the house be sold after buying it?

A: If the money to buy a house is withdrawn through the deposit of permanent residence, then it cannot be sold. On the contrary, it can be bought and sold at will.

18. How to update the Philippine Permanent Residence Card after it expires?

A: I can help you update your card for free (done on the same day). All you have to do is take a picture of the expired card on the front page of your passport. If you are not in Philippines, I can send it to you through DHL after handling it.

19. Is the Philippines safe?

A: Personally, I think it is safer and more dangerous than what you think.