Normally, expats live in big cities in the Philippines not only because they want to live near their workplaces, but also because of the culture and norms they get from Filipinos everyday. Whether you want to retire from city life or just settle down and take things slow, anywhere in the Philippines is the best place to live being the most tropical country in South East Asia.
Still not sure where to retire? No worries! Here are some of the best popular retirement locations expat retirees recommend that have low-cost real estate properties in recent years.
Pegged as the Summer Capital of the Philippines (and the only one in Southeast Asia), Baguio City is one shouldn’t miss when you want to retire in the highlands with a cool weather like this one! Situated on a plateau in Baguio province, you get to enjoy this place all year long as it’s a giant Christmas village with lush trees and fresh air cool enough for you to have a simple living! 4 – 6 hours from the hustle and bustle of Manila should give you a hint that you want to stay away from the city when you have your retirement life.
Ever want to move from Manila that isn’t far away? Well, Tagaytay City is the best place for you! Combining living on the highlands and by the beach, Tagaytay has sandy beaches that will relax you with an amazing view in the morning (and twilight) while sunbathing with a glass of martini on top! Their highlands on the other hand, will make sure to keep you relaxed with a cup of Joe with its cool climate during the ber months.
If you don’t want to move too far from the city and want to cross the city easily, then Santa Rosa City isn’t one to miss the target! Having easy access and close proximity to Manila shouldn’t be a problem as cost of living in Laguna isn’t a peso too pricey! Plus, you’re near to theme parks such Sky Ranch and Enchanted Kingdom as well as other entertainment options! Another reason to retire in the middle of Laguna, right?
With stunning beaches and lechon to eat, Cebu City shouldn’t be a fret when you want those in one place! Also known to have the famous Sinulog Festival, living in one of the most historical and colorful islands will be the highlight of your retirement with lots of reasons to explore and relax in Cebu!
Located in one of the Sugar Bowl Regions of the Philippines, Bacolod City will have you coming with beaches that are scattered in nearby islands, a bunch of sweet food such as cakes and sweets, and historical sights to see that will give you plenty of reasons to enjoy the island of Bacolod!
If you really want to be far away from the city life, then Davao City is the perfect place for you! With tropical and city vibes rolled into one, this island will give you a thousand reasons why expats and ex – OFWs retire with its gorgeous beaches and stunning sceneries for you to look out for! Oh, and don’t forget to add that it’s always and there are lots of places to eat food at very reasonable prices and great quality.
With all of their properties that are budget – friendly and versatile, it’s no wonder international living is made easier! Living in the Philippines mean a lot for retirees, whether you’re a local or a foreigner. But whether we like it or not, it’s also important to know your retirement income and some special documents like the Special Resident Retiree’s Visa, and we know retiring from a company can be a blessing in disguise and a challenge, especially for those who are newly retired.
Luckily, The Philippine Retirement Authority has got you covered! They can help you with a bunch of benefits that you can get from pension help to your monthly income and they can also help you move to the Philippines without the hassle of the embassy.
Moreover, bragging as one of the most tropical countries in the world, it’s no wonder that the Philippines has many tourists begging for more than just visits! So get that money in your bank account ready and make your move to the Philippines an investment!
For more information, visit one near you or you may pick up the phone and dial 8848 1412 to 16!
When it comes to housing and the cost of your future lifestyle in the Philippines, you also need to consider where you’d like to move in the Philippines as well as the environment you’d like to relax and enjoy your retirement. You also need to think about the income and the property you would like to invest in, whether you want to build your rest house or get a rental property nearby along with other taxes as well as the cost of the lifestyle that you’d like to keep. These are big questions, but it’s all going to be worth it once you have stayed in the Philippines.
They say that Philippines is the most beautiful country in the world for its hospitable locals, tropical beaches, and delicious food anyone can’t find. Locals and foreigners come to different parts of the Philippines whether it’s to visit other islands or to get away from the busy life of the major cities of the Philippines. Nonetheless, this makes our country a popular retirement destination that is definitely worth your money! So come and live in the Philippines and it’ll be the best decision you’ve ever made!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
If you’re planning to have your own place, start building your family, or to recommend someone a place to live, renting a profitable property should be a start! Depending on the location and the type of rental property tenants invest in, it’s better to make sure that you know the market trends as well as some of the factors to consider when you’re dealing with rental properties.
Ranging from townhouses and single-family homes in various subdivisions to condominiums in big cities, there are different kinds of rental properties to choose from. You just need to have a good eye and a good budget range to make it work with a low-risk possibility!
Single Family Homes can be detached, semi-detached, a row house, or a townhome that is set on its own land property. It’s perfect for families who want privacy, more storage space, and who can have time and money to keep up with maintenance and yard upkeep requirements, according to Benjamin Ross, a Texan real estate agent.
A single-family home shouldn’t have the same utilities, heating, and air – conditioning systems as well as separated from the adjacent property unit by a ground-to-roof wall if it’s attached in some way.
Take a look at Camella Homes‘ diverse selection of single-family house and lots in the Philippines!
Townhouses are multi-floor properties that share one to two walls with some adjacent properties and often have a uniform design and structure that is built in a community that has its own homeowners association but have their own guarded entrance and exit gates.
Many homeowners can have lots of benefits in owning a townhouse, but this is perfect for first-time tenants who want to move out of their condominiums or other small rental properties to have more space.
Condominiums, or condos, are often located in the busiest districts of the Philippines and these units are individual with their own utilities and heating and air-conditioning systems, similar to single-family homes, but in one building. These are perfect for those who want to live a low-maintenance living with a sense of security and an opportunity to move and socialize with others in a gated community.
Discover which condo investment is the perfect match for you!
Depending on the rental property you’re eyeing, you have to consider these factors aside from finding good real estate investors and neighborhoods in order for you to consider it a good investment! Here are some important factors to consider when looking for a cost-effective rental property that you can have as an investment:
Before getting any rental property in mind, you should always know the breakdown of the property taxes you’d be paying for, even if it’s in the same neighborhood so that you won’t be shocked as to why there are some rental properties with low property taxes and some with high property taxes. But remember: A town or a subdivision with a financial crisis may have a property tax hike that is out of the landlord’s control.
In real estate, different investment properties have different market trends. The rental demand of various rental properties depends on the local property managers they have and the market value. Depending on the investment strategy you’re willing to offer and the location you’re pinning for, the real estate market can be a bit tricky if you don’t analyze the numbers meticulously, so it’s better to research the numbers and be updated about the market values that go up and down.
Aside from paying your monthly rent to your landlord, you also need to consider what your lifestyle would be like, whether you’re a budget spender or a luxurious spender. Another factor you need to consider are vacancy rates. When some areas have low vacancy rates, it means that there aren’t enough places to live in those areas.
Lots of tenants consider this factor because there are so many options that are better than others when it comes to price and market value. You also need to consider other costs such as electricity and water utility bills as well as other expenses. Most rental properties make a down payment so that you can have a place of your own without breaking a penny value!
Whether you want to live in the central business district of the city, downtown city, countryside grassland, beach, or the highlands, this is one of the factors you need to consider when you want to move out and start renting.
Aside from thinking about whether your rental property is an investment, you also need to consider the neighborhood and public amenities like local schools, stores, malls, and parks as well as private amenities such as a swimming pool, backyard, hot tub, and many more!
Essential offices such as hospitals and health care services are also important to consider when renting your own place, especially when it’s just near or an hour from your neighborhood for emergency visits and medical supplies that you need to keep your health in shape, especially during these times.
Take Your Investment Property to The Next Level!
Looking for a good rental property? Well, you should definitely invest in Vista Land International! We have different rental properties with housing prices that would make you feel that you’ve made the right investment with a price that you would definitely love! It definitely has good neighborhoods that are near to good schools and many real estate investors can help you find the perfect residential rental property for you! So what are you waiting for? This is a good sign to start your real estate investing journey with us here in Vista Land International! Contact a real estate investor of ours here now, and you’re into your future neighborhood in a snap!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
When you travel overseas, it is not surprising to see many Filipinos working in a foreign country. In fact, according to the Philippine National Statistics, there are approximately 10.2 million Filipinos who are working abroad. These people are known as Overseas Filipino Workers or OFW in short. Typically, OFWs work abroad due to the local demand in the host country.
But there are several reasons why Filipinos would most likely choose to work in a foreign country than work in the Philippines.
One of the major factors why Filipinos prefer to work across the world instead of their own home country is because of the low job opportunities and unfair wages enforced by the Philippine government.
Due to the Philippines’ crippling poverty and high unemployment rates, Filipino fresh graduates would rather choose overseas employment and at the same time, they aim to support their families. The Philippine government heavily relies on remittances to support the Philippine economy.
This has some concern since this reliance delays the implementation of needed reforms that can help families living in the Philippines. The Philippine government even encourages migration to other countries to support the Philippine government.
Suggested Read: Top 3 Government Agencies OFWs Should Know About
No doubt earning a higher salary is one of the top reasons why Filipino people prefer to work abroad and maintain their jobs. Especially if higher-skilled Filipinos travel abroad, they have a great opportunity to earn more money and provide a better life for their families.
Working abroad offers more career opportunities and a chance to become a migrant worker, even becoming a permanent resident. Overseas Filipino workers have a higher chance of learning new skills and having better career benefits.
Filipino culture places great emphasis on the welfare of their families. Most Filipino workers, once they become a resident in their host country, would return home and bring their family with them overseas to provide them a better future.
Suggested Read: Streamtech: Bridging the Gap between OFWs and Their Families Back Home
Most Filipinos try their luck getting a job abroad due to several factors. They want to have a good life and experience new skills that can be hard to learn in the Philippines. Job abroad also gives them a chance to make friends and experience a different culture.
International migration is a trend many OFWs are doing for the past couple of years. According to the Commission on Overseas Filipinos, approximately 4.8 million permanent migrants are living across 200 countries and territories.
The sad reality is, the average Philippine salary is not enough for a family to live comfortably. Workers often spend most of their income on paying rent and food, or bills.
They do not have enough money to spend a little for themselves. Even when they work hard, they still have difficulty saving for personal expenses.
Saving money abroad is much easier. OFWs even choose to move out of the Philippines in order to have better job opportunities. Because of the high overseas employment rate in the Philippines, the country has become a major source country of workers and talent for a job abroad.
According to the 2019 World Economic Forum (WEF), Filipino students enjoy the idea of migration. Because of the lack of modern technology, they would prefer to work overseas and enjoy the benefit of their time abroad while they are still young.
Working abroad allows them to learn new skills, make foreign friends and experience a different culture.
Jobs abroad offer unique skills and even migration opportunities. Although work abroad has good benefits, international migration allows better opportunities that can extend to their loved ones.
The local economy is another factor why Filipinos prefer to work overseas. Despite the Philippines’ economic progress during the past couple of years, poverty is still rampant in the country, especially in highly urbanized areas such as Manila.
As one of the major working forces of the Philippines, OFWs has the ability to send remittances back to their family and loved ones. The economy in other countries and around the world offers better economic benefits. Migrant workers are paid more and they can save more money.
Financial stability is another factor why Filipinos work abroad. Migration is one of the goals applicants aim for when they have a job abroad. Many OFWs have migrated to other countries and have brought their families and loved ones over to settle down.
In the Philippines, it is hard to achieve financial stability. Compared to other countries, the average Philippine salary rate is lower than job abroad.
Living in a different country can be intimidating but Filipinos are not afraid of challenges. No matter how hard the obstacles are, OFWs are optimistic and hard-working. They work hard in life and seek jobs that have the most benefits.
Many successful OFWs in real-life thrive in their current jobs. They have better skills and better network opportunities, giving them a higher chance of improving their CV and standard of living.
For many people in the Philippines, work abroad and migration is their only chance to secure a better future for themselves and their families. OFWs can even have the chance to marry a foreigner, making the migration process much easier.
That’s why many Filipinos want to work abroad. If not for themselves, then for their family. This is also why OFWs are considered heroes because of their economic contribution to the Philippines.
Build a new home with Vista Land International today!
Are you an OFW? Do you want to provide your family with a new and affordable home in the Philippines?
Vistaland International Marketing Inc. has a roster of affordable and aesthetic properties located across the country that may fit you and your family’s needs.
As the international marketing arm of Vista Land, our professional real estate agents around the world can take care of your needs and assist you in the home buying process. Contact us today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
When you land a job and start earning your own money in your twenties, you learn how to maximize your monthly salary on certain investments that can generate passive income. And when it comes to investments, there are several products you can start investing in at an early age that would bring immediate cash flow like the stock market, mutual fund, and cryptocurrency.
Then there’s insurance, another type of investment vehicle that covers certain risks in case something bad happens to you. But for those who are the breadwinners of the family, their main goal is to invest in the well-being of their families. They’d prefer to pay the bills and provide for their family’s needs, and it’s nothing to feel bad about. Just because you’re not investing enough cash on certain assets doesn’t mean you’re missing out on your twenties.
But have you ever thought of real estate investments? There are several possibilities when it comes to real estate investing. In this blog, we’ll discuss why investing in real estate early in your twenties can be a huge step to build wealth.
It’s no secret that when you turn 20, you start to feel the realities of being an adult. You start to think about gaining financial independence, opening a savings account, investing in mutual funds, building an emergency fund, and learning about maintaining a good credit score.
There are also a few that venture into real estate investing at an early age. Young investors can learn a lot through the process. You’ll learn how to properly allocate your money and prioritize your financial future. Investing early in real estate enables you to build your wealth through time. You can simply buy a house and use it as a rental property to pay off the loan. Check this article on why you should invest in real estate today.
Successful real estate investors know that the best time to buy a property is during its pre-selling stage. Real estate properties appreciate in value very significantly.
Many investors often recommend real estate as a long-term strategy to maximize your income. And young investors shouldn’t miss the opportunity. While it may not be every adult’s main priority, there are several advantages of investing in real estate at a young age.
Buying your first investment property can teach you how to live independently. Having a space you can call your own teaches you to be self-sufficient and a reliable person. As a young adult, you’ll have to learn how to budget your money and be flexible with your schedule.
Buying your first rental property will help you learn the ins and outs of real estate investing. You can learn about repair work, maintenance included in the price, scams to avoid, and how much it costs to run properties. Many investors learn their lessons the hard way by acquiring bad tenants or dealing with unknown customers. Learning what not to do will help save you time, money, and trouble in the future.
Owning a house will make you financially stable in a way. At least when buying real estate, you won’t have to worry about paying rent or getting evicted when you’re living in an apartment. Moreover, the value of your property is likely to go up as time passes. The right investment can earn you a passive income for life. The financial decisions you make as an adult can have a great impact for you.
If you are new to real estate investing, you should know that houses can double as rental properties that you can earn and save money. If you have a spare room in your house, you can have it rented out to your friends, relatives, or co-workers. Check out our guide to calculating your rental property cash flow here.
Bria Homes is a real estate developer that offers affordable house and lots in the Philippines. Primely located in 40 cities and municipalities all over the Philippines, Bria Homes has 51 affordable house and lot developments. Most real estate investors, especially first-time homebuyers, often prefer to invest in affordable investment properties so that they can save on the down payment. With the low mortgage payments and quality homes, Bria Homes make a good investment property for people in their twenties. Bria Homes offer two-bedroom townhouses and bungalow homes that are good for a real estate investment since you can rent out the other room.
Bria Homes is the perfect match for young professionals since their starting price is only PHP500,000. This affordable price enables them to acquire affordable quality houses for residential use or investment purposes. For a more convenient payment scheme, OFWs and locally employed Filipinos can also choose Pag-IBIG Funding. Check out the Bettina Townhouse and Alecza Single Detached home.
To every Overseas Filipino Worker (OFW) and migrant Filipino who’s looking for a house and lot or condo for sale in the Philippines, Vistaland International Marketing, Inc. (VIMI) has a selection of OFW property investments for you. From socialized housing developments to condominiums for sale in the Philippines, Vistaland International can satisfy the dream of every OFW investor to provide a worthy home to live in.
Vistaland International was primarily created to bring overseas Filipinos closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
As an investor, there are a lot of rules and techniques to live by in order to be successful. You can learn about the different strategies to maximize income or investing in houses as rental properties, but if done poorly your investments might not grow. Researching and familiarizing yourself with the different rules like the 1 percent rule in real estate can help you become a professional investor in the Philippine real estate industry.
In the real estate market, the 1% rule is a tool used to determine if the monthly income is equal to or greater than the property’s monthly mortgage payment. It ensures the real estate investor breaks even on the purchase price. If the rental rate is greater than one percent, then that means more money and more rental income.
Ideally, the 1% rule is about learning income discipline. Being able to screen potential properties helps you save time and determine the monthly rent.
The 1% rule is more like a guide for real estate investors rather than a strict rule to adhere to. It is a great tool to help you achieve your investment goals. If your rental property is currently unoccupied, it can help you set the baseline price for monthly rent.
In addition, it helps calculate positive cash flow. Unfortunately, in some highly urbanized areas, it is sometimes impossible to meet the 1% rule. To achieve a positive net operating income, some investors choose to buy properties in other areas or lower their criteria.
By doing this, investors can maintain a positive gross income and meet the 1% rule.
The 1% rule is a great tool to determine if the property yields a good investment. By evaluating different investment property types and their fair market value, it helps you identify what real estate investments to focus on.
It quickly helps narrow down your list of what properties to focus on and what to ignore. Additionally, you can also learn about property rents and buying investment properties.
The 1% rule should not be used as the only determining factor of whether to buy an investment property or not. You will need more information aside from the information the 1% rule provides. Because the rule only offers the gross rental income.
There are other factors you need to consider, such as the condition of the property, the neighborhood, tenant turnover. It does not include other expenses such as repair cost, property taxes, insurance, property management fees, and so on.
Featured Property: Vista Residences | Kizuna Heights | Condo in Manila
The 1% rule is a good screening tool to calculate the monthly rent if the monthly rate is equal to or greater than one percent of the total purchase price of a property. If the monthly rent collected is less than 1% of the total price, then you might have a hard time with mortgage payments.
To calculate for the one percent rule :
Rent/ Purchase Price x 100
The result should be the base level of your rental income or monthly payment. There are also alternatives to the 1% rule such as the gross rent multiplier. Like the 1% rule, the gross rent multiplier is a tool to determine the profitability of a property.
Here is the formula:
Gross Rent Multiplier = Property Price / Gross Annual Rent Income
For example, an investor is looking to get a mortgage loan on a rental property valued at $100,000. To make sure his property values reach a safe total investment of at least 1%, the rental rates must be $1000 or higher a month.
Some rental properties may have other property expenses such as repair costs, and closing costs, you may also want to include them into the equation by adding them to the purchase price. As stated earlier, a home with a purchase price of $100,000 would need a minimum monthly rent of $1,000 to reach the 1% rule. But what if the property has around $5,000 worth of repairs.
You add the cost of repairs on top of the purchase price, making it a total of $105,000. By following the formula, your new property rent would be $1,050.
Featured Property: Camella Manors | Condo in Lipa
In the Philippines, property investing is a local trend among investors. But starting the journey has its challenges. For one thing, if you have trouble with personal finance, you can take advantage of the lending services provided by local banks to help you start on your real estate journey.
You can also think outside the box. You can fix and flip properties, remodeling them with modern amenities to attract potential renters. For this, you also need to consider the After Repair Value, which is the value of the property after you have done repairs and are ready to sell or rent.
As you study and learn more about real estate investing, you will be able to develop a mindset to seek out potential properties with positive rental income.
The one percent rule is not a foolproof way to determine whether or not a property is a good investment or not. Instead, it is a tool used to estimate the property’s monthly cash flow and seek out potential real estate deals.
The ideal situation is becoming more intuitive in earning a good net income over real estate investing.
Get Started On Your First Investment Property. Chat With Our Real Estate Agent Today!
Now that you have learned about the one percent rule, it may be time to get started on your first investment property journey.
At Vista Land International Marketing Inc. (VIMI), we offer a variety of condominiums, and house and lots for sale in the Philippines. Our roster has several options that fit within your budget so check out our property listings today!
Vistaland International was primarily created to bring OFWs closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Located in Cavite, Tagaytay City has become more than a tourist destination for local and foreign tourists. As the second summer capital of the Philippines, the city has so much to offer, from fresh air, cool climate, little traffic, good quality of life, and property investment opportunities to a stunning view of the famous Taal Lake and pine trees everywhere. In this blog, we’ll talk about why you should invest in Tagaytay properties.
Definitely! Tagaytay is an ideal choice to live with your family because of its diverse culture and natural beauty. Tagaytay has a breathtaking view of the famous Taal Volcano, one of the most well-known landmarks in the country. And since it’s also a popular vacation spot for foreigners, you get all of the benefits of living in a place filled with beautiful scenery and amenities without some of the drawbacks. Property investors often choose to buy a condo in Tagaytay for the purpose of renting it out to tourists or their friends who are visiting.
Suggested Read: Where is the best place to live in the Philippines? (2021)
Obviously, there are a lot of reasons why you should buy a home or condo in Tagaytay. Imagine waking up to lush pine trees and a cool breeze all year round, having a property in Tagaytay is truly a worthy investment! Here are a few reasons why you, as a local Filipino or OFW (Overseas Filipino Worker), should invest in Tagaytay City.
The cost of living in Tagaytay is quite low compared to other cities like Metro Manila. This is because the city has a lot of modern amenities and facilities while maintaining its traditional and historic places. According to Numbeo, you can roughly spend around PHP3,500 for your monthly utility bill which already includes your electricity, water, and garbage disposal services.
Compared to other major cities, the cost of renting a place in Tagaytay is also more affordable for foreigners by 80.92% lower than in Metro Manila. According to Numbeo, the average rent of a one-bedroom apartment per month is around PHP10,000 which is 71.03% lower than Metro Manila. Because of this, the market demand for residential properties such as house and lots in Tagaytay is very high.
While it may be a tourist destination, Tagaytay has less traffic and less polluted air making it an ideal place to live in if you want to commute. Local transport in the city starts at around PHP9-PHP160. Since it has little traffic, you can easily commute to essential places like schools and hospitals and social hubs like restaurants, malls, and resorts. Additionally, it’s only an hour away from metro Manila.
Tagaytay is one of the rare places in the Philippines that has cool temperatures most of the time. The city also has its warm days but you can always enjoy a hot cup of coffee without sweating in the early mornings or late afternoons. You can even save money on your electricity bill since you wouldn’t have to use your air conditioning most of the time.
Over the years, real estate developers have witnessed the growth of the city. It has become an ideal choice for developers because of the city’s tourism. As the city continues to develop, Tagaytay remains as one of the top dream home addresses by Filipino property seekers and foreign investors. Real estate investments such as condos for sale in Tagaytay are the most in demand property investment because of the influx of tourists every year.
Suggested Read: Condos for Rent: How Can I Attract More Renters?
The Crosswinds Tagaytay by Brittany is no ordinary home address. It boasts its sprawling view of lush pine trees, high-end services exclusive to the Crosswinds residents, and community public areas for social gatherings and leisure. On top of luxury properties, you are home to the finest amenities in Tagaytay. Your family is near certain conveniences so that you wouldn’t have to worry about traveling far to get where you need to be. The Crosswinds has three picturesque enclaves that offer luxury residential properties.
Since the Crosswinds is the only premiere pine estate in the country, it has a high demand home address. Lausanne is a 24-hectare development that offers luxury residential lots for sale in Tagaytay that has a spectacular view of the city skyline, Laguna de Bay, and the city’s hillsides. You’ll find charming Swiss chalets and pleasant shopping stores along its commercial strip.
Alpine Villas is taking luxury condo to a whole new level. You can enjoy all the amenities of Tagaytay while living in Alpine Villas, which is nestled away from the hustle and bustle of the city.
At Alpine Villas, residents live in well-designed, highly efficient vertical residences which come with 24/7 security protocols including CCTVs in all common areas, and Wi-Fi. Owners and tenants will always be assisted by a concierge, receptionist, and security staff.
Fitness facilities, swimming pools, and a clubhouse will be available to the village’s residents and to allow for moments of relaxation.
Crosswinds Resort Suites is another name for The Grand Quartier surrounded by lush nature. Crosswinds’ Grand Quartier offers a few minutes’ escape into the hillsides of Tagaytay, just south of Metro Manila. Here you will find luxury condos for sale in the prestigious Crosswinds Swiss Luxury Resort where the lifestyle you deserve truly is safe, convenient, and rewarding.
Come Home to Tagaytay City today!
Are you ready to come home to Tagaytay? Vistaland International is here to provide a home you need. Having one of the largest real estate companies in the Philippines as part of their selection of real estate investments, Vistaland International aims to provide quality homes that are built to last for future generations.
Not looking for a luxury house? Don’t worry, we’ve got you covered! We offer affordable house and lots for sale in the Philippines as well. Contact us today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Good news! Starting a rental business is another investment avenue for young professionals and OFWs to earn passive income. But the process can be daunting especially for beginners.
As a landlord, you can have the option to hire a property manager to attract tenants or DIY the whole thing. Each has its own pros and cons. Ultimately, renting out a condo is worth it.
Suggested Read: Renting Out a Property: How to Calculate Your Cash Flow
In the real estate world, rental property is a good investment. But the entire process of filling a vacant property can be challenging. Some landlords prefer to hire a property manager to help with the marketing area of rental property. With their expertise, property managers can also help attract more tenants.
Generally, real estate property appreciates over time. Especially if it is in a metropolitan location like Manila. Naturally, the first thing tenants will look for is the price. So, you have to charge your unit that is in line with the competition within that location. Quality tenants may prefer to live within metropolitan areas since it has the most accessible areas and buildings.
Condos in the Philippines can be a great second home or vacation home. Landlords can choose whether to rent their unit as a second home or a vacation home. Landlords can earn more by renting their unit as a second home. That means their property is occupied long-term.
But if the tenant decides to move out, the landlord can also choose to rent the property as a vacation home. The more tenants that rent your property, the better ratings you receive. This leads to profit and overall, a better reputation as a landlord.
There are several strategies for making money from a condo in the Philippines. In metropolitan areas like Manila, competition can be tough. One strategy is learning how to market your condo in the property listings. Another is learning how to attract tenants into filling vacancies in your rental condo.
Once you earn a good reputation as a good landlord, you can eventually create a network of finding new tenants.
As a future landlord, having a solid understanding of condo investments in the Philippines can build and increase your income. Scheduling an open house off-work hour can attract the interest of new tenants. Most will not waste time contacting you if they want to arrange a viewing.
Finding the right tenant for your rental property can be challenging. Are you looking for young professionals as potential tenants? Or is your property more appealing for young couples? Perhaps you’re looking at older couples as potential tenants?
You can create tenant criteria to find your ideal tenant. For example, you might use their credit score to see how well they pay their bills on time. The target audience you choose will overall influence your marketing methods.
One of the main factors that attract quality tenants is location. Rental properties within good locations usually have appealing features. Tenants will likely focus on areas near schools, a secure neighborhood, accessible buildings, and locations near their workplace.
Parking options are another criteria a prospective tenant will look for when looking at a rental property.
Over time, the vacant property will deteriorate. Regularly maintaining your vacant unit while it is not occupied can go a long way in saving costs. You can use a property management company if you do not want to do it yourself.
A potential tenant may prefer a clean property since they want their own stamp on their new home.
Treating your current tenants well is a good marketing effort. If your current tenant has a good impression of you as a landlord, they are willing to continue working properly with you. With the power of networking, previous tenants can help you find more tenants.
They can inform potential tenants about you which leads to future profits and leads to finding the right tenants.
Many landlords might wonder how they can attract quality tenants into filling their vacancies. After all, some of their current tenants may have a bad habit of not paying their rent on time, or end up destroying the property which leads to maintenance requests.
Suggested Read: What to Know About Living in a Condo?
Tenants will most likely check nearby establishments near the property. Creating a brochure can be the best way to provide maximum exposure to your property’s best features and accessible building. Handouts can give prospective tenants all the relevant information they need about your property.
Most tenants will check their options online. Writing a good listing is the first step in attracting quality tenants. Prioritize in taking good well-lit photos, emphasizing the property’s area amenities and local amenities, what areas have air-conditioning, and deposit amounts.
Prospective tenants will naturally contact you if they decide to schedule a viewing.
Before you showcase your vacant units to your prospective tenants, check if there are maintenance issues in the condo. Make sure all appliances are in working condition, there are no leaky faucets or any other issues.
Quality tenants will more likely hesitate with renting the property if they notice these details so it is important to put your best foot forward and give an overall good impression.
For more inquiries and concerns, chat with our Vistaland International Agents today!
Are you looking to attract tenants into renting your properties? Want to learn the advantage of rental property investment? As the international marketing division of Vista Land, Vistaland International is happy to help OFW investors become reliable landlords and find tenants to start earning passive income. Contact us today!
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
To calculate if a rental property is worth buying (and if it will generate decent cash flow), you need to consider several factors. First and foremost, you need to know the rental property’s ROI. ROI or known as Return on Investment is a good way to measure if a rental property is profitable or not. To calculate the ROI, you need to take the total net profit or net gain and divide it by the original cost.
ROI = Gain on Investment – Cost of Investment
Cost of Investment
Understanding the ROI in real estate investments allows you to be more informed in the decision-making process. You can use it to compare with other similar real estate properties and their cash outflows. By being able to determine how much you will make, you can decide whether you want to stick with your rental business for a little bit longer and hopefully make a profit or sell it to recoup your losses.
Also Read: Selling or Renting Your Condo in Manila: What’s Better for OFWs?
The 2% rule is a term used to determine whether or not the rental property results in a positive net profit. Basically, the 2% rule states if a property’s monthly rent is at least 2% of the sale price, then it is likely to provide a positive cash flow for the real estate investor.
The formula is: monthly rent/purchase price = X
For example, an OFW investor purchases a house and lot in the Philippines for 2 million pesos. In order to reach the 2% rule, their asking rental price would be Php 40,000/month. By determining if their rental property falls below the 2% rule, they can determine if the rental property is likely to have cash flow or not.
Also Read: How To Rent Out Your Home While Working Abroad
For new OFW investors, the 2% rule can be tempting. After all, if they rent a house and lot in the Philippines for 2% of the property price, it is a sure win for positive cash flow, right?
That is true but realistically speaking, the 2% rule is difficult to achieve in metro real estate markets. A good rule of thumb is to understand what fees and charges you need to include in the rental fee, for your rental properties to be cash flow positive. A good place to start is to check the average rental costs around the area.
Price appreciation is another way OFW investors can build wealth with their rental properties. It increases in value over time. Several factors can contribute to the price appreciation of an investment property. You can check the growth of the neighborhood, access availability in the area such as malls, schools, government buildings; and the quality of commercial properties nearby.
REITs or also known as Real Estate Investment Trusts are another way to get into real estate investment. If you don’t have enough funds to purchase a house and lot in the Philippines or a condo in the Philippines, then you can invest in a company’s portfolio of real estate investments. Real estate companies that deliver high returns and long-term capital appreciation are considered a good company to invest in. REITs can be found in the public stock exchange. There are also private REITs you can invest in.
Aside from investing in the stock market, buying condos in the Philippines is another way to add passive cash flow into your net income. The real estate market is a solid investment to increase positive cash flow. Positive cash flow means there is more income cash than expenses and finance costs. A negative cash flow is an opposite where the income cash is lower compared to expenses and financing costs. The goal of the real estate investor is to own rental properties with positive cash flow.
There’s a saying in the real estate business, cash flow is king. Owning a property investment with healthy cash flows is an important factor to keep your rental property business afloat. The more cash you earn, the better chances you have to invest in the real estate market, and the bigger your income. Finding properties with positive cash flow may not be easily compared to a decade ago, but if you learn how to calculate the rental cash flow and study the housing market, you will eventually increase your chances of owning a rental property with positive cash flow.
Also Read: Ways to Maximize Property Investment Returns for OFWs
Understanding how the net cash flow formula works is useful and an important aspect of real estate investing. It allows the real estate investor to know the potential extent of their rental properties. This requires some research such as learning the purchase price of the property, the remaining mortgage payment, the interest rate for financing the housing loan, taxes and insurance, and additional operating expenses. Rental properties with a healthy cash flow are a good sign your rent business is doing well.
To calculate your net cash flow, you need to deduct the operating expenses from the cash balance at the end of the period.
Net Cash Flow = Total Cash Inflows – Total Cash Outflows
By understanding the net cash flow concept, you can determine whether it is a good idea to go ahead and buy the property or not. Aside from real estate, net cash flow is also used in big companies and in the stock exchange market. Businesses use it to make sure their operations run smoothly and investors use it to determine their decision-making process in the stock market.
Also Read: Buying a House for the First Time as an OFW
For more inquiries and concerns, chat with our Vista Land International Agents today!
Want to know more about rental properties and earning a positive net income? As the international marketing division of Vista land, Vistaland International is happy to provide OFW investors or OFW homebuyers with the knowledge they need to start earning from their real estate investments in the Philippines.
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
Wonder where is the best place to live in the Philippines? Well, let me give you a tour to the wonderful Pearl of the Orient.
The Philippines is known as one the world’s best places to travel and settle down or retire for expats or OFWs. The tropical country is located in Southeast Asia and is rich in travel destinations, pristine beaches, culture, history, and religion.
When visiting the Philippines, you’ll most likely be greeted by warm smiles and friendly hellos from the locals. The weather is warm throughout the year, but it does cool down at night. The best time to visit is during the month of March through May because of the abundant sunshine and warm weather.
Many expats choose to retire in the Philippines because of the tropical ambiance that creates a welcoming feeling for visitors or new residents. With over 7,000 islands to explore, you’ll find plenty of residential options outside of Metro Manila.
Generally, the Philippines is a safe place to buy a home and enjoy a simple lifestyle. However, it is still a developing country and there are some certain parts of the country that we should limit our visit to. Although the peace, safety, and security levels vary from Filipino to Filipino, expats and foreign people often face challenges such as culture shock and other inconveniences when they move or live in the Philippines.
Thanks to modern technology and societal advancements, foreign people, OFWs, and migrant Filipinos should not be afraid to live in the Philippines.
If you’re a foreign investor looking into the Philippines as a country to live out the rest of your days, then keep on reading. Next, we’ll list down the safest and livable cities in the Philippines.
In this article, we’ll take you on an online adventure. From Luzon, Visayas, and Mindanao, you’ll discover the safest and best places to enjoy living with your family.
As a weekend getaway place, you’ll love Tagaytay for its scenic view and fresh air. During the months of April to October, an average temperature of 18-22 degrees Celsius is best enjoyed in Tagaytay City. The population density here stands at about 100 people per square kilometer.
The best time for you to enjoy living in a beautiful house and lot in Tagaytay is during summer season when people flock this city for its cool weather, fresh air, and scenic view of Taal Volcano in Taal Lake, Mount Maculot, and Mariblo Mountain Range which are all easy accessible with your car.
According to Numbeo, rent prices in Tagaytay are significantly lower than Manila at a rate of 80.88%. Renting an apartment or condos in Tagaytay City is around PHP5,000 – PHP 13,000. However, if you wish to buy a house and lot or condo in Tagaytay, prices are higher than in Manila mainly because Tagaytay is a well-known tourist destination.
If you’re seeking cooler climates and want to be surrounded by nature, then Tagaytay is a great place to live. And as one of the most sought after cities to live in due to its proximity from Metro Manila, Tagaytay promises a lot of job opportunities, best schools in the country, and accessibility to other cities in Southern Luzon.
Tagaytay has so much to offer! View available properties in Cavite here.
Baguio is best known as the Summer Capital of the Philippines because it is where people go on a summer break to escape from Manila’s scorching heat. The best time for you to enjoy a house and lot investment here is during the Christmas season which starts in September when people flock to this city for its cool weather, fresh air, great food, interesting festivals, and historical value. Tourists are also drawn by Baguio City’s proximity with other popular tourist destinations such as La Trinidad Valley (known for strawberry farms), Sagada Town (famous for Sumaguing Cave), and Mount Pulag National Park (highest peak in Luzon).
The average cost of living in Baguio City is around PHP24,000 for single individuals and around PHP80,000 a month. Renting in Baguio is 62.87% lower than Metro Manila. You can also choose to rent out rooms in your own house and lot instead of renting an entire unit just so you can provide housing for more people while earning extra income on top of what your property investments yield.
In the city of Baguio, crime is very minimal. In fact, it’s one of the safest cities in all of the Philippines according to the Numbeo database.
Your home and nature is waiting for you. Buy a condo in Baguio now!
Lipa is an amazing city because it’s close to other metropolitan areas like Manila and travel destinations such as Baguio and Tagaytay. You can choose an area that best suits your needs whether you want somewhere near the beach or in the mountains where there is plenty of fresh air for you to breathe.
Since Lipa is home to several universities such as De La Salle Lipa and Systems Technology Institute College; this means more employment opportunities since these schools need teachers on top of having students also looking for work after graduation.
Lipa City is home to many affordable housing projects where you can find a house and lot for sale starting at Php 750,000. This means that even if your budget may be small, it doesn’t mean that you will not have the best quality of life. You can live in Lipa without worrying about rent or mortgage because owning one is much cheaper than paying monthly dues every month.
Lipa is much safer than other places in the Philippines because it has a crime rate that ranks below average, meaning you can live comfortably without fear of illegal activities like drug use or theft happening around your neighborhood.
Batangas City is best known as the home of Taal Volcano and Taal Heritage Town. It is also best known for its beaches, city life, and savory local cuisine.
The best part is that this city has many job opportunities and it also offers quality education to students who want to pursue college education. Living in Batangas City allows easy access to the CBD area, which can be reached by bus or train.
The cost of living in Batangas City is much cheaper compared to other cities in the Philippines. It has an average daily living cost of around PHP1,050, which can even go lower if you live outside the city areas and commute through public transportation every day. Buying a house and lot in Batangas City can cost around PHP125,000 for the total down payment.
Batangas City has average crime rates which makes it fairly safe to live in with children. You can enjoy living in Batangas while being in proximity to Metro Manila, the hub of industrial, commercial, and central business districts.
Your dream home awaits. Click here to see properties for sale in Batangas.
Puerto Princesa City is located in Palawan, Philippines. It is best known for being the home of the Puerto Princesa Subterranean River National Park which was recognized as one of the New Seven Wonders Of Nature in 2012. Palawan was crowned the title of the Most Beautiful Island in The World last 2020, gaining a surge in housing developments and business opportunities. As the last ecological frontier, Palawan is one of the best places to live in the Philippines.
According to Living Cost, the average cost of living in Puerto Princesa City is around PHP28,800. Utilities on average cost an extra PHP4,000 per month and the length of lease agreement is best if negotiated over six months to one year, with most landlords offering only six-month contracts at best.
Best known for its beaches, the whole island of Palawan has a low crime rate report. It’s best to stay within the city limits of Puerto Princesa, especially after sunset.
Looking for a house in Palawan? Check this listing!
Cebu City is known as the “Queen City of the South”. It is located in Central Visayas, making it one of the best places for business and tourism. Cebu is best known for its shopping malls, beaches, historical sites including Fort San Pedro which was built in 1565 during Spanish colonization, and several heritage houses that are still standing to this day.
With a cost of living index at around 30,000 for its best areas and about 46,700 in others, Cebu has one of the best average costs throughout the whole country. A typical meal will only cost an average Filipino worker slightly more than 200 pesos.
With a crime rate of around 70 for every 100,000 people and an average police response time of 36 minutes in any given part of Cebu City.
Want to live in Cebu City? Click here!
Bacolod City is located in the province of Negros Occidental in Western Visayas. Bacolod is best known for its MassKara Festival, a festival held every October that features brightly colored masks and costumes created by local artists to give life to what has been called “the happiest face” in all of Asia.
The average cost of living in Bacolod is relatively low. For expats and OFWs who want to move to the Philippines on a budget, Bacolod is one of the best places in the country where you can live comfortably while keeping costs down. Bacolod has many affordable options for real estate investment properties including single-family homes and multi-unit buildings such as condos in Bacolod suited for rental property investment.
Bacolod City is one of the safest cities in the Philippines to visit and live with your family. Bacolod has a relatively low crime rate, little traffic problems, and it offers peace of mind to expats and foreign investors who choose to live here.
Discover great places to live in Bacolod. Click here to see properties for sale in Bacolod.
Iloilo City is located in Panay Island, Western Visayas. It is also popularly known as the City of Love with vibrant multi-colored buildings and polite locals that would happily help you. Throughout the years, it has become a rising economic hub in the Western Visayas region.
Iloilo City offers a good quality of life and higher standard of living. Renting an apartment or condo in Iloilo is 80.75% lower than in Manila. Additionally, a single person can spend at least PHP 24,000 monthly. For families, it can range from PHP 30,000 to PHP 80,000 depending on the lifestyle and number of children.
Iloilo has been categorized as one of safest cities in the Philippines. Iloilo City is very safe because there are moderately low crime rates, which means you can expect your belongings and personal safety to be protected at all times.
Click Here for Properties for Sale in the City of Love!
Last but definitely not the least, Davao City is named as the safest city to live in the Philippines. Next to Manila, Davao is the second best city to live in. You are guaranteed the best security and the best peace of mind.
The best part about living in Davao is that it’s very affordable. The cost of food and transportation is considerably lower than the other areas in Metro Manila. It has a moderate to high quality of life, with low pollution rates as well as an ideal weather (warm climate). Real estate in Davao is bustling with demand. There are many developments going on in the city, with new housing projects being opened up frequently. The best part is that most of these real estate investments have long term capital appreciation and high rental yields as well.
Davao City has a low crime rate, which makes it very safe to live in. In addition, you can consider buying your dream house and lot in Davao or building an investment property in the city because every year, there are new developments taking place that are promising to bring in the best houses for sale. Davao, in general, offers a safe environment for its residents. It has the lowest crime rate among all Philippine cities at only 338 crimes per every 100,000 people.
Live in the safest city in the Philippines. Live in Davao!
The best place to look for property investments could be any of the cities mentioned earlier. OFWs value their money and they make sure they acquire only the best real estate investment in the Philippines.
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
House prices aren’t the only thing you should put in mind when it comes to how much you’re willing to pay for a house and lot in the Philippines. Factors such as property types and location play a role in setting the price, but documents and taxes also make up a huge chunk of money. In today’s article, we’ll go in depth on how much money, time, and effort you’ll need to buy a home in the Philippines.
The home buying process isn’t always a breeze. Before putting a down payment, there are several factors that affect real estate prices. Finding the right type of property, your main purpose, defining the property value appreciation rate, saving up for the selling price, and conducting a site viewing are also just one of the few things a home buyer should primarily consider. Here are a few factors that affect house prices in the real estate market.
Determining if you’re going to buy a condo, townhouse, or house and lot has an impact on how much you need to pay for real estate properties. A house and lot for sale in the Philippines usually costs more than condominium prices because of the bigger packages.
Location also defines how much money to save or spend for a house and lot in the Philippines. The closer you are to the city or business district, the higher the house prices. For instance, a condo for sale in Metro Manila is more expensive than a condo for sale in Bacolod City. Being in proximity to shopping malls and road developments also affect real estate prices. So if you have a real estate property in the province and as long as your home is near developments, your home has a higher market value and property appreciation rate because of the growing real estate market demand.
One thing that OFW investors should know when buying a house and lot for sale in the Philippines is to determine the real estate developer’s target niche or average price of houses. This way, you’ll learn what to expect from their property prices and packages. Bria Homes, for instance, offers affordable house and lots for sale in the Philippines that targets an average-income earner. Brittany, on the other hand, is a luxury real estate developer in the Philippines that offers upscale condos for sale, residential land, and house and lots for sale in prime locations.
However, buying a home for overseas Filipinos is a whole new process because of the different time zones and more paperworks. Additionally, you need to exert more effort in looking through online property listings and finding the right real estate developer in the Philippines.
There are several documents you need to secure when engaging in real estate transactions in the Philippines. While documents may not be included in the price of buying a house in the Philippines, it’s one of the costs that a homebuyer has to pay or process. We’ll tackle the necessary documents for yourself, as a buyer or client. These are the following:
A few real estate developers in the Philippines often ask for a TIN Card when you reserve a house and lot unit. You can apply for a TIN Card at your nearest Bureau of Internal Revenue (BIR) branch.
A birth certificate or marriage certificate is required when buying a house and lot in the Philippines. This document serves as your proof of citizenship, age, nationality, or legal capacity to enter into Philippines real estate transactions.
It’s also how you can apply for other government documents such as passport, driver’s license (for locals), etc., so it saves time to present your birth certificate or marriage certificate for married couples.
This is to prove that you have no criminal record. While it may not be required for other real estate developers in the Philippines, a real estate broker might require you to present them a copy of this to ensure that all parties, buyer, seller, and real estate agent, is protected. The report needs to be from your local police department or any national agency.
After duly processing these documents, you can present these valid IDs as you go through the reservation process. You will be presented with a bunch of contracts to sign and read. In the next part, we’ll discuss the necessary contracts and documents that you should know when buying a home.
This document will define who are the parties or official names involved in the real estate transaction, the transfer title number, how much you are going to pay for the property that you want to buy. It also includes how much money needs to be paid as down payment, how much can be borrowed from a bank or any other financing institution, and how long is your loan period.
A Deed of Absolute Sale should contain the following information:
The address of the house and lot for sale and the size of the floor area and land area of the house unit. The exact address should contain the block number, lot number, enclave or phase number, subdivision name, street name, barangay, longitude and latitude coordinates, and city or province name.
The document should include the selling price or total contract price agreed upon between both parties.
This is a document issued by the Registry of Deeds when the title has been transferred to the buyer.
In any transaction, there’s always a certain tax involved in the process. Taxes involved in a real estate transaction takes part of the prices set by a real estate developer. For a typical real estate transaction, it’s important to be aware of the taxes involved in buying a house and lot for sale in the Philippines so you would know where your money goes.
Tax rate: 6%
This tax is imposed on the gains from the sale or exchange of property. When you sell a piece of real estate, i.e., house and lot that you’ve bought before, there’s a capital gains tax to be paid depending how long you have owned it.
Capital gains tax doesn’t apply if your house is classified as a “principal residence.” It means that your house and lot in the Philippines must be used for your own sole benefit, and that no one else has the right to live on it.
Tax rate: The documentary stamp tax rates vary depending how much you paid for your house and lot.
For example, if the acquisition cost of a piece of land is more than P500,000 but not exceeding P100 million, you will pay 0.75 percent tax on it. But if it’s worth over 100M pesos – then this rises to three percent (of the entire price).
A documentary stamp tax is paid once you’ve bought a property. This tax depends on how much the transaction is worth, and how many documents are involved in the sale contract. Essentially, the stamp tax applies to contracts, instruments, loans, and other paperwork documenting a sale or assignment of an obligation, right or property.
Tax rate: The rate of transfer tax in the Philippines is usually based on how much the property is worth in its fair market value.
A transfer tax is paid when you transfer the ownership of a house to someone else. This tax is based on how much your property is worth, and how many documents are involved in the transaction. It’s usually at a fixed percentage of the property’s value.
The overall value of buying a house and lot for sale in the Philippines is worth the expenses. Although there are many things to consider, it is worth all of them in the end as you have a place to call home and not just an apartment that someone else owns. A great advice real estate agents would tell you is to set aside at least 30% of your monthly income to save up for the downpayment and monthly amortization.
Find a House Within your Needs and Budget
Vistaland International Marketing Inc. (VIMI) has several real estate investments in the Philippines that can surely generate extra income for the household. These are properties that have rental features to pay off monthly bills or expenses. VIMI has a roster of real estate developers in the Philippines that has a proven track record of providing homes and building dreams to OFWs.
Vistaland International was primarily created to bring OFW closer to their dream of finally acquiring a home in the Philippines. And with the rising cost of living in the country, OFWs and their families are looking for ways to earn extra cash flow to support their daily needs. Luckily, you can also join the global network of Vistaland International as a real estate professional and earn a commission!
Vistaland International Marketing, Inc. (VIMI) is the international marketing division of Vista Land. Aiming to provide OFWs and migrant Filipinos a home in the Philippines, VIMI has established long-lasting relationships with brokers and clients around the world.
Get started with your property investments! Contact us today and follow our social media accounts: Facebook, YouTube, Twitter, Instagram, and LinkedIn.
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