16/09/2021
Can a foreigner buy a property in the Philippines?
Short answer is yes, but with restrictions. Buying a property in the Philippines is possible for a non-Filipino; however, there are limitations as to what property and how much a non-Filipino can buy.
By law, foreigners do not have the right to own land in the Philippines. Only Filipino citizens can own land. Despite pressure from the expatriate communities to amend this ruling, the law remains unchanged. The easiest way for non-Filipinos to own land remains through spouses of Filipino nationality.
Foreigners can own condominium units
Foreigners may purchase and own condominium units in the Philippines. Condominium projects are treated as a corporation setup. The Condominium Act of the Philippines (R.A. 4726) expressly allows foreigners to acquire condominium units and shares in condominium corporations, but the ownership of condominium units is still subject to a 40-percent restriction for foreigners. This means foreign ownership in a single project should not exceed 40 percent, and 60 percent must be Filipino-owned.
