Owning property in the Cebu Philippines

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Can a foreigner own property in the Philippines? We talk about owning land, owning condo and rentals in the Philippines.

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but 2-bedroom unit is 8.2 million but

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it's 57 square meters the two-bedroom

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unit of a vida bytes 8 million to 8

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million 200,000 its but it's 57 square

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meters so it's like 2 times of your

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one-bedroom Oh your Bible ready I think

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[Music]

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we're talking to our sister purple

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shadow about properties and we want to

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know more about the rules as far as can

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I as a foreigner owned land in the

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Philippines or owned a property or a

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property or a condo or whatever and so

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this is live so you can ask us any

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questions trolls will be kicked out so

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let's let's get started so it's pretty

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controversial purple shadow um whenever

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we talk about foreigners owning property

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somebody chimes in and says yes you can

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or no you can't what is what's going on

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with it can you own product can I afford

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our own property cannot fly to Cebu and

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be like I want to buy this plot of land

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in Cebu hi yes there are yes and no yep

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yes yes and no yes if you are if you own

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a corporation about 40% of it will be

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owned by you and 60% should be owned by

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a Filipino yes if you have a wondered

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hectare land here you own 40 60 s for

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the Filipino it should be owned by a

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Phillip

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no citizen okay now what about a condo

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anytime you can buy as many as you want

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but there is a limitation should be 40%

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well if you have money you can own 40%

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of the condo if you want to buy it so

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this is almost only 40% of the

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foreigners are there but actually it's

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not strictly followed but in the law

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should be at least I'm should be 40%

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only is owned by foreigners in a condo

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yes but you can own we can own it any

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condo you want you can just both buy the

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entire building okay condo the foreigner

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can own like and rent it out and they

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and they collect the money on that but

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you're trying to own the whole building

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that's different that's cuz that's

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property womp yeah gotcha gotcha only

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40% so we got Terrance

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we got Jay Barnes we got way Buchan way

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how you doing guys

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this is purple shadow if you didn't know

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how and she's telling us she's informing

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us she's schooling us about property as

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far as a foreigner owning property and

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cuz we're buying condos and stuff so we

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want to know as much as possible so if

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you guys have any questions this is a

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great time to ask yeah well you have me

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or you can email me though

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purple shadow homes at gmail.com or you

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can take a look at my page just

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facebook.com forward slash purple shadow

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homes everything's there anyway cut

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earlier one of our subscribers is also

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youtuber was asking about condominium

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for right

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depends how much how long is he staying

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here and how much is his budget how many

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big bedrooms and is there a preferable

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location those are the things that I

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need first that I would take into

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consideration is how much is he willing

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to pay who is it that's a very pricey

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logistics

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o HT HT would definitely buy it's

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definitely a business guy all right yeah

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rinse it out okay yeah Oh a month well

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yeah there are lots of condo units here

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for rent how depends on his budget how

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long he will stay well a month yes is

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there a preferred location if there's a

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preferred location the budget has two

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commonplace so budget is the number one

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that I would really consider mr. Mike

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man says hi guys this is this is what I

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have proposed I proposed to my fiance

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that I purchased the property and lease

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it from her for 30 year lease that's a

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good idea like the property will be

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under her fiancé's name is that what you

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mean yeah Mike is that what you mean if

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you could hear us Joel Jill well hey how

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you doing man he says last year when I

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was in the Philippines the sales people

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of a building said that Americans can on

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their own condo unit 100 percent is that

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true no only 40 percent if the condo

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unit 100 percent yes but if the building

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the building a building itself like you

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know from let's say one

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our first floor to the 40th floor they

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can't have it all they can only open on

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40 percent yeah but if it's the unit the

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one-bedroom unit studio penthouse got

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ability you can I can help you percent

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okay what's the processing of buying the

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condo first reservation to valid IDs

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since you're there you can authorize me

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to sign on your behalf of course your

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money that's very important the

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reservation fee and then after I'm

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within 30 you are given 30 days to

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comply all the requirements just like

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your that could be your payslip a stub

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or your a bank statement showing your

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capability of thing and you should open

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up a checking account or a fill I'm in

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the Philippines and then oh I should

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speaking of that I should take note of

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the checks I have issued also what else

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special power of attorney for the person

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that can find on your behalf or you can

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come here to sign the papers I will just

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schedule 4G towers there I'm actually a

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little close with the self management so

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I can easily ask a favor from them as to

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when are you coming over to sign the

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contract

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for other buildings I have not yet for

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other properties like izella properties

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I can I can definitely ask come that's

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what I love the Philippines I have lots

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of connections that's the one thing that

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I love about the Philippines so just let

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me know I can help you in any way make

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sure of course the most important you

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have cash

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who says hey mama why are you doing good

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evening your sister looks beautiful your

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you look slow what about me you look

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beautiful - beautiful - mm-hmm purple

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shadow let me a lovely and delicious

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I live my food now you were inquiring

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for a condo mr. Mike says yes that's

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what I meant

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okay I'm selling condo not myself okay

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HT was the one who was asking about

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Rhonda for rent for like a month we're

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at HD we would have to know like where

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Cebu is going - oh wow yeah I think you

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can get the hook-up I I see here Harold

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Essex I'm looking at mcaddie area buying

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a condo I love the Philippines if it's

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in Makati yes I can probably fly to

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Makati if it's a you know a good deal

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but if you can say boo yeah any time let

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me know yes definitely contact

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purple shit let me give you some contact

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information sandy wants to rent a condo

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how much are you willing to pay what's

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your price

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how much is HT yeah what kind of range

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are you in Roy knocks says what about

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rent hold

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I well let's I can we have agents and in

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Duvall I can I can refer her or refer

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Roy Roy knocks - my colleagues from

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another base in the bow this is just for

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a run mm probably if I'm on vacation I

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would probably for it but I can just

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easily refer

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roy to my colleagues in the well because

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we are all over the Philippines we even

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have a roadshow in Dubai and in New York

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and Los Angeles everywhere so we're all

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over soon I'll be selling properties all

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over the world

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they'll be awesome HT says 500 to 1500

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USD are my guess is that paper scar yeah

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I think this is paper write us that's

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why I don't have the price yet how much

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were you willing to pay Roy yeah a

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friend of our condo went one month

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that's a pretty nice right there

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I've been reading you annual that's a

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pretty decent way sir oh that right it's

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a decent place but you'll be raised

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going you're gonna be living like a king

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on that if that's a price range then

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hell yeah you you will have a lot of

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beautiful places that I can get you just

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let me know a month I'm one before you

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come because if it's going to be three

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or two months before it's it's not you

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know it's not very practical or it's not

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logical to HD you're so nice car guys

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right here HT zone man the Wallace life

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do you have any anything near Mall of

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Asia

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how much is your budget Wallace here

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there was a tiny logistic says I'm

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coming in April so

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in contact yes please so I can

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definitely get you or lick of the best

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place for you I think I need access yeah

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I'll be there like July yep contact me

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and of me so I have one month well one

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month is actually too far it's so easy

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to find something for you especially if

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you have that kind of budget in a day or

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two give me three days like when I say

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give me three days for that yep for one

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month

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yeah the ball is not that expensive

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compared to say blue I'm sure well yeah

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I'm sure I can find one for him hey

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Maria how you doing Maria but Tino is on

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with us Isis Roy says I'll give you one

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week the Wallace life who wants a place

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near Mall of Asia says 400 to 500

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monthly if it's me and Mo Avista

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I don't think 500 it's enough yeah

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that's like these in the Philippines

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right yeah big time

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there might even hard when this gonna be

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18 square meters we aren't even a

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anything you can hardly find that Friday

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Wallace life is look there's a box near

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the no I'm just kidding but yes that

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realistic yeah real fast life the job

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that makes you rent if it's for rent but

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if he's gonna buy it no you can find

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that price yeah okay let me see we got

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more comments coming in we got jaebum

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hey how you doing man we were just

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talking to you HT says but I don't want

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to stay in some some hotel I want to try

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something different for my business

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yeah he's the real deal j barnes says

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would it make sense to buy a condo now

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and written until I retire or just wait

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[Music]

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shadow perfect question right here so we

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bought ours like two weeks ago yeah in J

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Center hold on guys quick disclaimer

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disclaimer okay

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do not spend money that you can't afford

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them Amy listen this is an investment

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okay if people get really emotional

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whenever we talk about money or

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investing or anything like that the

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shadow is a real estate agent in the

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Philippines okay us Yuri and I buying a

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condo is its money we can afford right

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and we're we're taking a manage risk for

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us all right and this is not like

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cryptocurrency or like stocks this is

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real estate so this is real deal that

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being said let's let's continue okay I'm

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planning to retire soon I mean retire in

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the future I would say like buy

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something now like a pre-sale cuz it's

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which

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I think Jay Barnes sent me an e-mail

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today is that it I think that was him

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yeah so we're thinking long time because

269
00:17:11,870 --> 00:17:22,040
the place that we pre bought is not but

270
00:17:20,420 --> 00:17:24,590
we got plenty of time we're gonna be

271
00:17:22,040 --> 00:17:28,250
here in the US you know with the kids

272
00:17:24,590 --> 00:17:30,740
for a while so we can't even so we can

273
00:17:28,250 --> 00:17:32,990
wait but in the meantime we're making

274
00:17:30,740 --> 00:17:36,290
payments on it right now so that by the

275
00:17:32,990 --> 00:17:37,990
time it's built and we owe less on it

276
00:17:36,290 --> 00:17:41,210
we're gonna transfer it to the bank

277
00:17:37,990 --> 00:17:43,850
right so then we'll get a loan from Bank

278
00:17:41,210 --> 00:17:47,990
and all that stuff we bought a car we

279
00:17:43,850 --> 00:17:51,260
bought a townhouse - that was way

280
00:17:47,990 --> 00:17:53,660
cheaper - it's gonna be built in 2021

281
00:17:51,260 --> 00:17:56,960
right that's our back-up plan you know

282
00:17:53,660 --> 00:18:01,270
just in case in the future doesn't work

283
00:17:56,960 --> 00:18:01,270
for us here and we have the option to

284
00:18:02,980 --> 00:18:09,950
but what we want to do is rent it out so

285
00:18:05,480 --> 00:18:14,380
that's our plan Harold sx says i'm

286
00:18:09,950 --> 00:18:18,320
looking into buying also in Tights a guy

287
00:18:14,380 --> 00:18:20,300
okay pie and in Palawan ooh

288
00:18:18,320 --> 00:18:27,650
that's expensive right there is it I

289
00:18:20,300 --> 00:18:41,330
love Paulo wise Metro dad says is this

290
00:18:27,650 --> 00:18:48,920
purple shadow yes yeah I just got my

291
00:18:41,330 --> 00:18:54,430
package and finished we'll talk to you

292
00:18:48,920 --> 00:18:56,570
talked to me on Facebook by Sony

293
00:18:54,430 --> 00:18:59,210
Facebook I'll send you all the links

294
00:18:56,570 --> 00:19:00,790
everything you need j barnes says yep

295
00:18:59,210 --> 00:19:04,700
that was me

296
00:19:00,790 --> 00:19:07,760
HT says shadows when I'm you for a

297
00:19:04,700 --> 00:19:10,340
second hey she says so yeah

298
00:19:07,760 --> 00:19:15,740
so if I want to live in the Philippines

299
00:19:10,340 --> 00:19:18,110
is that the only way for me just or an

300
00:19:15,740 --> 00:19:28,340
apartment you can buy an apartment on a

301
00:19:18,110 --> 00:19:32,450
condo HD just buy the condo now yeah you

302
00:19:28,340 --> 00:19:35,090
options to buy a condo or if you happen

303
00:19:32,450 --> 00:19:38,150
to marry a Filipina and you guys are

304
00:19:35,090 --> 00:19:43,880
very close someone you can trust you can

305
00:19:38,150 --> 00:19:46,130
also buy a house or land 60% of it will

306
00:19:43,880 --> 00:19:50,270
be owned by your Filipina so here's

307
00:19:46,130 --> 00:19:52,840
another thing philippine scenes and some

308
00:19:50,270 --> 00:19:54,980
of the other people in our community

309
00:19:52,840 --> 00:19:58,040
they live there living in the

310
00:19:54,980 --> 00:20:00,200
philippines and they're Americans what

311
00:19:58,040 --> 00:20:02,240
they do is just rent cheap apartments

312
00:20:00,200 --> 00:20:04,520
yes you know that's what another thing

313
00:20:02,240 --> 00:20:06,620
that you can do but the smart the smart

314
00:20:04,520 --> 00:20:09,550
money would be to buy a pre-sale it's

315
00:20:06,620 --> 00:20:11,810
just my opinion buy a prebuilt building

316
00:20:09,550 --> 00:20:13,670
that's gonna be really nice that's cheap

317
00:20:11,810 --> 00:20:16,370
right now because it's not built yet and

318
00:20:13,670 --> 00:20:18,080
then when it's Bill yeah you're in a

319
00:20:16,370 --> 00:20:20,810
really nice place but that's you know

320
00:20:18,080 --> 00:20:23,800
that's if you're definitely gonna live

321
00:20:20,810 --> 00:20:27,800
there yeah but if you're not sure yeah

322
00:20:23,800 --> 00:20:33,500
you should test it first live there for

323
00:20:27,800 --> 00:20:39,710
a year and see if you know one thing a

324
00:20:33,500 --> 00:20:42,520
condo I mean if you if you live here if

325
00:20:39,710 --> 00:20:46,250
you live here in the Philippines and

326
00:20:42,520 --> 00:20:48,890
like when for five hundred dollars might

327
00:20:46,250 --> 00:20:51,200
as well buy a condo now and you know

328
00:20:48,890 --> 00:20:52,700
rent it out or sell it later I can sell

329
00:20:51,200 --> 00:20:57,740
it for you if you don't like to live

330
00:20:52,700 --> 00:21:01,580
here yes easier that way cuz I mean you

331
00:20:57,740 --> 00:21:07,370
know leaving and I'm paying $500 when in

332
00:21:01,580 --> 00:21:11,570
fact you can get what 400 I mean to $400

333
00:21:07,370 --> 00:21:14,000
or $300 pre-selling condo right now and

334
00:21:11,570 --> 00:21:15,230
I mean you're not gonna retire right now

335
00:21:14,000 --> 00:21:16,520
or you're not gonna live in the

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