Cebu is one of the best places not only to settle down to but also to invest on real estate properties.
Certainly, there are thousands of valid and realistic basis and reasons why one should and and start thinking of investing on real estate establishments.
Watch this video introducing Cebu's real estate properties...
If you are one of those who are searching for the right places to do a start up business or invest on real estate properties, you better check out the major points listed here....
Yes, I hope such reasons will help you consider seriously on doing business or even settling down in that great province.
A non-Filipino citizen cannot own a piece of land in the Philippines according to law. He/she can have a legal 50 year lease on land which can be extended to twenty-five years more.
An expatriate may take legal titles to buildings - house, apartment, commercial buildings...
In addition, an expatriate or non-Filipino can take title of a Philippine or Cebu condominium of 60% of it if Filipino-owned.
Unfurnished building/house means that you have to bring your own appliances, furniture and other facilities not included in the property.
Lower end apartments are cheaper but there are some disadvantages. It may not be very safe and a bit far from the main road, unless you have your own transport. Of course, you can find cheaper, better and safer places but you need to know some friends and some time to spend...
Boarding houses and dorms could be your other choices, which are fairly available in most areas close to universities or city proper areas.
An apartment or house in a subdivision area, although could cost higher compared to buildings outside a subdivision, is a much preferred choice by most people who have higher and regular incomes.
Domiciles inside subdivisions are much safer in terms of protection from burglars, fire, floods, noises, and other safety and comfort needs. Such places have walls and security guards (24 hours) that keeps away non-residents.
Condominiums are one of the fastest growing businesses in the Philippines, especially in Cebu. You can find uptown locations situated nearby business zones, recently developed areas, major shopping districts...
If you were a business person you know that condominiums could be your great opportunity for investments. Just do your homework and find a good lawyer. Make sure you have a legal title, especially if you are not married to a Filipino citizen.
Most people strongly suggest that if you want to buy Cebu homes or any real estate focus on subdivision properties.
If you decide to do like that, make sure that you deal with real estate developers that are well-known and popular due to their quality projects and services. You can find such Cebu developers in this website (Real Estate Dev).
A foreign citizen married to a Filipino citizen can make a purchase by including your name on the contract. For a non-Filipino citizen and not married to a Filipino citizen must get a title of the property and then lease it from the corporation that established the subdivision.
As already mentioned before hand, a 50 year lease and a 25 year of extension is allowed. If you set up a corporation to own a real estate, it must be 60% Filipino-owned... It must be your trusted friend, wife or husband, business partner...
This page only offers you some ideas and basic facts. But it does not offer you any legal advice or promise hard facts. So, please consult your lawyers, the proper authorities, agencies, and real estate experts for legal advice.
We wish you all the best in your Cebu real estate business.
Be prosperous and more returns!
Thank you for visiting this page and reading through it. Have a great day!