Manila is a metropolis full of chic bars, trendy cafes and cutting edge arts, as well as having access to the beautiful nature of the Philippines. It’s a great place to buy a condo.
(Photo: Sumarie Slabber via Flickr.com / CC BY 2.0 DEED)
Consisting of more than 7,000 islands dotted around the Pacific Ocean, and featuring a mixture of different cultures and customs, the Philippines can seem like a difficult place to get your head around. But this is also what makes this such a fascinating place to buy a condo, with beaches, arts, cosmopolitan chic, smouldering volcanoes, and vast rain forests, all in one archipelagic country.
If you are thinking of buying a property in the Philippines, it makes sense to base yourself in Manila, the country’s vibrant, booming capital, which mashes the best of Eastern cuisine and culture with Western-style coffee shops and work spaces, with every flavor of music, arts and nightlife inbetween. Unlike other Southeast Asian countries that have been well trodden on the tourist trail, Manila remains refreshingly affordable to live in and, despite a property price boom in the early 2010s, the costs of condos have cooled in the last couple of years.
Buying-wise, it’s fairly simple, but you must have your wits about you. This is a relatively deregulated market compared to buying in, say, America, so you need to start off by making sure that the property is legally able to be sold. Always use a reputable real estate company and make sure you ask every question you have before signing anything.
Foreigners can buy condos, the land on which they stand needs to be local-owned however. Plus, to ensure the property market doesn’t become a bubble of outside speculation (no bad thing) there must be at least 60 per cent Philippine ownership in any block you buy in. Then once you’ve got your eye on a place, find a good, qualified local lawyer who will help with things like the Deed of Sale contract, as well as registering the property when the sale is finalized.
Housify.ph
Anyone who has wasted even one lunchbreak window shopping for property will find Housify instantly recognizable. That’s because this fast-growing property website, launched just over six months ago, is designed to replicate all of the other global property sites in aesthetic and user-friendliness, making property buying something you feel you could do at the touch of a button while sipping a cappuccino. It matches property buyers with trusted listings through verified sellers, plus a no-duplicate policy, which ensures that listings are served on a first-come, first-served basis. There are thousands of condos to choose from with the option to do a virtual tour of the property (saving on that air fare) and plenty of qualified advice onhand. It’s a great place to start.
Norrdell Realty
For more of a personal touch, this independent Real Estate Brokerage based in Manila, run by real estate expert Peter Norrdell, is on hand to give help and advice while searching for the best deals in the city. The company prides itself on great service and solid working relationships, so first time buyers in the country should be able to ask whatever questions they have and feel in like they are in safe hands. The focus is on premium properties in the best neighborhoods of the city, including gated properties and new developments. The website even has takeaway facts and advice on everything from tax to Feng Shui for anyone just starting out.
Presello
This upmarket real estate brokerage in Metro Manila has a vast array of wow properties on its books, from five-bed mansions to stylish condos, and even the odd hotel for sale. This is a no-nonsense company dedicated to not only finding the best deals on properties but also the best price should you come to sell in the future – so good people to have on your side. The sales group has more than 15 years of selling experience across the board and agents have an encyclopedic understanding of the city’s property market. Virtual tours of properties are regularly uploaded onto the website so you can have a look around before committing to anything.