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anjucat
Joined: 26 Jul 2005
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 Posted: Wed Sep 02, 2009 2:16 am Post subject: Philippines Real Estate |
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Howdy All,
I was just wondering if anybody out there knew of a good website and/or personal contact for perusing real estate options in the Philippines. Obviously, there are plenty of sites on the web readily available, but i've found that most websites tend to exhibit either the luxury millionaire property or the condo/townhouse type of thing.
The wife and i are more interested in a small house with a big yard somewhere out in the countryside -- at reasonable prices, of course.
Does this ring a bell for anybody?
Thanks in advance for any leads. Cheers. |
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Fri Sep 04, 2009 12:10 am Post subject: |
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| One question: Which of the 7000+ islands are you interested in? The best method is to go directly there and look, but not you...only your wife. You can also check the banks for properties. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Sep 05, 2009 4:34 am Post subject: Re: Philippines Real Estate |
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| anjucat wrote: |
Howdy All,
I was just wondering if anybody out there knew of a good website and/or personal contact for perusing real estate options in the Philippines. Obviously, there are plenty of sites on the web readily available, but i've found that most websites tend to exhibit either the luxury millionaire property or the condo/townhouse type of thing.
The wife and i are more interested in a small house with a big yard somewhere out in the countryside -- at reasonable prices, of course.
Does this ring a bell for anybody?
Thanks in advance for any leads. Cheers. |
If your wife is a pinay then try the bank (FCB or BDO are good bets) for picking up cheap properties without the problems associated with real-estate in this country.
If your wife (or yourself) is NOT a pinay then you are limited (by law) to condo-only type of developments (apartment or gated compound townhouses).
Prices for raw land in the cities (torrens title and clear of any liens) run from p2500/m2 to p10,000.
Raw land our in the country (tax declared) will run from p3-p60 per square meter.
I purchased 5 hectares (50,000 m2 from the bank for p150,000).
This included a good mix of banana, mango, coconut, mahogany and jemolina trees as well as several rice fields.
I built a 4 bedroom, 100m2 house for about p100,000 (interior not completely finished yet). |
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Mon Sep 07, 2009 6:48 pm Post subject: |
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| Quote: |
| purchased 5 hectares (50,000 m2 from the bank for p150,000). |
Something doesn't add up here. 5 hectares for 150,000p or is that per sq meter? Either you paid too little or too much.  |
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anjucat
Joined: 26 Jul 2005
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| Posted: Tue Sep 08, 2009 2:21 am Post subject: |
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Thanks, ttompatz, that's good info and something of a basis for comparison.
The Philippines is just one of several countries we are looking into. For most places we are just in the very beginning stages -- just looking around at the moment and seeing what's out there.
Neither of us are Pinay. Would this exclude us from purchasing raw land and building, as you have done? If so, that makes our decision regarding this country rather easy...
cheers
ps. thanks also, I am me. You are correct that going there ourselves to look around would be the best thing to do, and in fact that is exactly what we will be doing should these initial perusals turn up anything interesting. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Sep 08, 2009 6:33 am Post subject: |
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| I-am-me wrote: |
| Quote: |
| purchased 5 hectares (50,000 m2 from the bank for p150,000). |
Something doesn't add up here. 5 hectares for 150,000p or is that per sq meter? Either you paid too little or too much. |
raw land (as in no buildings) for 3p per square meter. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Sep 08, 2009 6:40 am Post subject: |
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| anjucat wrote: |
Thanks, ttompatz, that's good info and something of a basis for comparison.
Neither of us are Pinay. Would this exclude us from purchasing raw land and building, as you have done? |
Yes, it would with some caveats.
Depending on your visa status (there are some options like SSRV and SIRV) that can allow you permanent residence rights AND allow you to lease the land for 25 years with an option for 25 more (as compared to a purchase) so you get it for 50 years for the same or less money.
Foreigners are NOT allowed to purchase raw land directly. |
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Tue Sep 08, 2009 6:57 pm Post subject: |
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| Quote: |
| 3p per square meter |
How the heck did you get that deal? Is it out in the middle of nowhere or what? I got 1000sqm for about 2.5p and its kinda far from anything. Mindanao is kinda difficult due to find land due to political problems. But, a few hectares at 3p per sqm would be ok. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Sep 09, 2009 8:12 am Post subject: |
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| I-am-me wrote: |
| Quote: |
| 3p per square meter |
How the heck did you get that deal? Is it out in the middle of nowhere or what? I got 1000sqm for about 2.5p and its kinda far from anything. Mindanao is kinda difficult due to find land due to political problems. But, a few hectares at 3p per sqm would be ok. |
10k down the highway from town and about 1k back along the barangay road from the highway.
Picked it up from the bank - it was a repo from about 15 years ago. |
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Wed Sep 09, 2009 11:22 pm Post subject: |
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| Good deal ttompatz! |
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Fazer
Joined: 17 Jul 2005
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| Posted: Thu Sep 10, 2009 9:09 pm Post subject: |
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Hi ttompatz, I always found your posts to be useful and spot on. I have a pinay wife, and already have a small lot in The philippines. I really want to know some more details on the house you built so cheap! Is it built with wood or concrete blocks? I can't pm you as I rarely post here, but if you could email me at katialis_b (at) yahoo dot com I would greatly appreciate it. I am still teaching in Korea, but I'm thinking about living in the P.I.
Thanks in advance, take care, and have fun! |
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JungMin
Joined: 18 May 2005
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| Posted: Thu Sep 10, 2009 10:24 pm Post subject: Re: Philippines Real Estate |
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| ttompatz wrote: |
| I built a 4 bedroom, 100m2 house for about p100,000 (interior not completely finished yet). |
Am I reading this correctly?? You built a 100m2 house for around $2000USD? |
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ntchimy
Joined: 06 Nov 2008
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| Posted: Sun Sep 13, 2009 1:11 am Post subject: |
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Hi ttompatz,
Wow, it's amazing the deal you got! 
I think we all would love to know which bank you did work with and how did you find the deal?
Could you share your experience about building your own house in The Philipines too?
Cheers, |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Sep 13, 2009 4:55 am Post subject: |
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| ntchimy wrote: |
Hi ttompatz,
Wow, it's amazing the deal you got!
I think we all would love to know which bank you did work with and how did you find the deal?
Could you share your experience about building your own house in The Philipines too?
Cheers, |
The land was purchased from the First Consolidated Bank AKA "FCB" from their provincial main office in Tagbilaran, Bohol.
The house is concrete hollow block with re-bar through every block vertically and tied to re-bar belt steel between every row of blocks.
Main materials were 1500 concrete blocks (p12000), 100 bags of cement (p20,000) (*including floors), 200 steel bars (p13000), 60 pieces of roof steel (p18000), 10m3 of sand and gravel (p7000), 200m of 14/2 wire (p6000) and fixtures (p20000) were the major expenses.
The lumber was from our own trees and we just had to cut them down and wait for them to cure (dry out) before cutting them into the sizes we needed. The majority of the lumber was mahogany.
Plumbing is standard PVC piping.
Electrical is standard code (14/2 for the main circuits from the breaker box). |
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