Philippine Real Estate: How to Own a Piece of Paradise On Earth
The current Philippine president, Pres. Gloria Macapagal-Arroyo herself, has been actively luring Filipinos living abroad to make the Philippines their place of retirement.
She believes that Philippine real estate would translate to the best value for dollar when it comes to living off retirement income.
What are the advantages of living in the Philippines?
First, there are no harsh winters and a couple of places where the weather is temperate all year round - Baguio City in the Cordilleras, which is elevated at 1400 meters above sea level; Tagaytay, a charming lakeside city overlooking the majestic Taal volcano; Lipa City in Batangas, Davao City in Mindanao, and Los Banos in Laguna.
Businessmen and other expats who have been able to acquire property and have settled here for good mince no words in extolling the Filipinos' unmatched hospitality.
The second important advantage of acquiring Philippine real estate is that a $2,000 monthly pension would be enough to maintain a driver, a household helper or two, food and recreation, plus lots more to spare.
There is also the proliferation of high-end real estate development in the suburbs, such as in Laguna, and Tagaytay in the south.
There are a multitude of ideal retirement venues in the country, and it is widely known that Philippine real estate won't cost you as much, even if the property is already considered "prime."
Although there are a plethora of ways to go about owning Philippine real estate, much of your privilege to own one depends on your citizenship status.
Getting straight to the point, there is a law that prohibits foreigners from acquiring land.
A way to get around this law is to purchase a condominium unit where you don't actually buy the land it sits on, but merely a portion of the structure. This then becomes one of the more favored alternatives, as modern condominiums catering to the A-B market are truly fabulous and are situated in very strategic locations.
Those who eventually marry Filipinos or Filipinas, however, get to own approximately half of the property.
You can also read further on these issues, particularly on how your spouse could acquire dual citizenship, by browsing the Internet.
For more information, you may want to visit this link from the Philippine government about dual citizenship:
www.gov.ph/faqs/dualcitizenship.asp
For those eligible to buy, the most outstanding Philippine real estate within the nation's capital sits in the following first-class villages: Ayala Alabang in Muntinlupa; White Plains and Wack-Wack in Pasig; and Forbes Park and Dasmarinas Village in Makati City.
These are the retreats of the country's old rich and noveau riche, and each square meter of property in these areas run up to a few thousand dollars.
Nevertheless, owning Philippine real estate in any of these prime spots truly makes you feel as if you've gotten hold of a piece of paradise on earth.
They are in the heart of the bustling metropolis, yet you're secure and calm in the confines of your property.
These villages are also accessible to the most modern offices, shopping malls, banks, and schools.
Easy as it seems to acquire Philippine real estate once you've settled your eligibility, the other thing you need to be made aware of is the importance of a background check on the authenticity of the deeds and the reputation of the agents or brokers you're dealing with.
Stick to the larger real estate companies that can provide you with valuable after-sales service.
Giant developers such as Megaworld, Ayala Land, and Citiland are the most trusted, as these are corporations with wide-ranging interests not only in the real estate industry but in other commercial ventures as well.
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