How Can a Foreigner Own a Condo in the Philippines?

You will never fail to be fascinated by the Philippines. The country has astounding sights over and beneath the sea; it has an amazing culture, the ever known Filipino’s hospitality, its incredible food, and definitely, the friendly Filipino who is willing to welcome tourists anytime and anywhere. When you want to enjoy all the Philippines has to offer, spending a day on the island-blessed nation is not enough.

Tagalog is Philippine’s main national language; while English is also recognized as an official language, there are over 150 regional dialects that are official languages in the country. English being the universal language is one of the important aspects to have a successful trip to other countries. Tourists love traveling to the Philippines because almost everyone knows how to speak and communicate using the English language, unlike most of their Southeast Asian neighbors, where you find it easy to communicate. The country is an enticing tourist destination as well as a location for a retirement destination because of its English-friendly community. The Philippines is indeed a must-visit country that is why some foreigners choose to stay.

Tourist arrivals in the country reached 6.16 million, a rise of 14.37 percent year-on-year, according to the Department of Tourism, 2019. The Philippine tourism industry remains at a winning point as the country’s inbound tourism count continues to rise, reaching six million by the end of September 2019. Many foreigners are mostly tourists who are only interested in exploring the Philippines. Some of them were on a vacation, but some settled down and stayed in the country. They come from different countries and find it astounding how they can enjoy living in the Philippines. We all have different reasons for staying, why they’re going to visit again, or why they’re never going to leave the country.

The number of foreign citizens in the country was 177,368 as of May 2010, based on the 2010 Census of Population and Housing (CPH). They made up 0.2 percent of the total population of the household. In terms of the country where they originated, 29,959 individuals coming from the United States are the country’s largest number of foreign nationals as reported by the NSO. The NSO also reported that three out of every 10 foreigners lived in the National Capital Region or 31.1 percent of the country’s total number of foreign citizens.

The Philippine real estate market becomes on steady growth and it is not showing any indications of slowing down. With the increasing demand of the condominium unit in the country, many Filipinos even foreigners are investing to own a condominium unit not only in Metro Manila but also in some other parts of the Philippines. We exist in a century of condominiums. A condominium is a representation of the best things that we want in life: luxury, safety, and comfort. It’s no wonder that most of us want to live in a condo. For those foreigners who want to legally own a condo unit here is some information that you need to know before purchasing a condo unit.