Buying property in the Philippines is much like everywhere else in the world. Just the same, it pays knowing your legal rights as a real estate buyer so you can be protected against unscrupulous characters that seek to take advantage of unwitting investors. The country has many laws in place to ensure proper guidance in dealing with properties for sale in Cebu and elsewhere in the Philippines. Below are things you should know about property ownership in the country and some related laws that you should familiarize yourself with when it comes to property sale and ownership: Foreigners cannot legally own land anywhere in the Philippines, but they can own apartments or condominium units in high-rise buildings, so long as foreign proportions don’t exceed 40%. Buying a house is also allowed, but a foreigner cannot own the land on which the house is built.

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Cebu: Rich Market for Condo Buyers

In the midst of the influx of investors and foreign tourists looking for residential spaces in Cebu, local buyers remain to be a good market for developers of prime properties in the province. HT Land Inc., developer of the luxury project Mandani Bay in Mandaue City, has noted that majority of their buyers for Tower 2 of the project’s second phase are local buyers. “Buyers are majority from Cebu. There are also regional buyers. You will be surprised. What we’re doing now is we’re doing regional efforts. We’ve been going around major cities in Davao and Visayas,” said Mandani Bay Project Director Gilbert Ang.

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All the papers you need to own a house

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