Phillipines??

[masalai]

Sol, are we going to get any more updates re: the PI?

I did some research on property ownership and it looks like you either have to be married to a citizen of PI or start a business there. The business is allowed to own property. Even then the business can only own property that is primarily for business use. So it couldn't be residential RE but a commercial or retail type building.

I have been to Manila several times when I was younger and enjoyed myself each time I visited.

I'd like to learn more about how to invest and create an "escape plan"...

Masalai

[Sol P]

if you buy a condo you don't have to be a citzen or a resident. To buy a house or raw land you have to be one or married to a citzen. So the best option is to buy a Flat (apt) or rent one ( a very good one can be obtained for 200 dollars a month, though you could lose potential gains if the market appreciates and also potential gains from a currency appreciation)

[masalai]

I am thinking out loud here. The reason why you can buy a condo is because you don't actually own any land correct? I guess the issue with property ownership in the PI is expats can't own any land. So you have to marry into the country or become a citizen.

Condo's don't come with any land, and what you are paying for when you purchase one is the building itself along with any amenities that go with it. Most condo's or flats in the PI are multi-story and your only buying your "cube section" of the building.

Notice I correctly spelt Phillippines this time ...

Masalai

[Sol P]

Your are right as far as your observations on land ownership and buying a Condo go.

Yes you did spell Philippines correctly ;D