Happier Abroad Forum Community

What are peoples opinions on condos in the Philippines? I was reading that if you buy into a condo worth over a certain amount (something like $75,000 AUD) you are granted permanent residency status. But I'm not sure I trust a lot of these developers. Do the guys who have spent time in Phil (or are currently living there) have an opinion on these? Its correct that foreigners can own condos right, as opposed to houses? (as you arent actually owning the land itself). How many of these condos actually get built? Seems like theres a hell of a lot looking for investors but very few seem to get off the ground.

I reckon it'd be pretty cool to have a holiday home over in Phil. Live and work in Australia for a bit and once I get fed up with that pack my bags and spend 6 months in the Philippines. Plus here in Australia flights to Phil are pretty short. Add to that the fact its so cheap. Over here in Australia property prices are out of control. A family actually paid $450,000 for a shed by the beach to store their beach equipment in. Wouldve been about the size of a single car garage. A small run-down shack close to the city will set you back a million dollars. It's a joke.

http://www.pra.gov.ph/

In PH if you want to buy a new condo, they're typically sold as pre-builts (fork over your $ now and we build later). The safest and most expensive company to buy from is probably Ayala Land:

http://www.ayalaland.com.ph/

Other companies will be cheaper. Walk around malls in PH and you'd see real estate companies selling condos. I also saw, for the first time in my life, a company that actually setup model homes inside a mall for customers to look at. Be warned that the small sparse maid quarters with bunk beds and without A/C or even windows might offend your western sensibilities.

Or you can walk into condo building lobby and look for the poster board. Sometimes owners will post for sale ads on it.

Thanks for the info. I had noticed Ayala's name popping up on a lot of websites. But yeah, they definitely seemed the most expensive too. Didn't seem like there was much of a market for existing condos. Most online searches returned only condo's in development. The ongoing costs & amenity charges would also be a concern.

Buy SMDC instead. Fully furnished.

Move around shopping department stores in PH and you'd see property companies promoting accommodations. I also saw, for the first time in my life, a company that actually installation style residences inside a supermarket for clients to look at. Be cautioned that the small short house maid areas with bunkbed and without A/C or even windows might hurt your european sensibilities.