The vision of them enjoying the breeze in their own villa and drink Scotch or whiskey in their outdoor patio is irresistible. But because foreign ownership in the Philippines is limited only to condominiums, of which 98% are high-rise or building type; the dream of a lifetime privacy and relaxation is slowly drifting away.
If you're a foreign national who wants to settle in the Philippines or invest a house in the Philippines, you may be already aware of the limitations.
One of the biggest drawbacks of foreign real estate investors in the Philippines is the limitations of the Philippine law on foreign ownership. The Philippine Law does not allow a foreigner to acquire land in the Philippines.
Certain exceptions do apply, but it requires a corporation or partnership of which 60% of the share must be from a Filipino citizen.
Or the easiest way for some is to have the name of the property under a Filipino/Filipina spouse.Not a lot of our foreign friends are married to a Filipino; or if they are, not all are comfortable to have their investment named to another person, not even to a spouse.
WE HAVE A SOLUTION!
A House-Type Condominium
There are only few developers in Cebu that offers house-type condominiums.
The Condominium Act of the Philippines, R.A. 4726, allows foreigners to acquire condominium units and shares in condominium corporations up to 40%.
What House-Type Properties Can A Foreigner Own in Cebu Through a Condominium Title?
Without much ado, please see the properties below.
Woodcrest Townhouses in Guadalupe, Cebu City
► TYPE OF DEVELOPMENT: Residential Townhouse
► NUMBER OF UNITS: 25 Units
► AVAILABILITY: 3 Units
► HOUSE CONCEPT: North American Design-Inspired Townhouses
► DEVELOPER: Primary Homes, Inc.
► CONTRACTOR: Primary Structures Corp.
► RESERVATION FEE: Php50,000
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| 3-Storey Mimosa Townhouses w/ Condominium Title Price: 7.6 Million Pesos |
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| 2-Storey Mulberry Townhouses w/ Condominium Title Price: 6.6 Million Pesos For more information about Woodcrest Townhouses, please click here. |
Tiyara Casita in Mazari Cove in Inayagan, Naga, Cebu
► TYPE OF DEVELOPMENT: Resort Style Residential Villas
► AVAILABILITY: 2 Units
► HOUSE CONCEPT: Modern Asian Tropical Villas
► DEVELOPER: Paramount Property Ventures
► RESERVATION FEE: Php50,000
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| One-Storey Single-Detached Villa with Condominium Title Price: 13 Million Pesos |
For more information about Tiyara Casita Mazari Cove, please click here.
Argao Royal Palms in Argao, Cebu
► TYPE OF DEVELOPMENT: Beachfront Resort Type Residential
► HOUSE CONCEPT: Asian Contemporary Villas
► DEVELOPER: Primary Homes, Inc.
► CONTRACTOR: Primary Structures Corp.
► RESERVATION FEE: Php30,000 - Php50,000
