Forums / Property Investing / Overseas Deals / Is Buying a Condo a Good Investment in the Philippines?

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  • Profile photo of zyrine69zyrine69
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    @zyrine69
    Join Date: 2012
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    My hubby and I are considering purchasing condo units from the Philippines. We would like it to be rented out to make extra cash. Or if it does not work, gamble with appreciation and resell? Is this worth the trouble? We’ve started looking at properties already on DMCI Homes. Any thoughts?

    Profile photo of Nigel KibelNigel Kibel
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    @nigel-kibel
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    There is a lot f corruption there. If you are planning on living there its one thing but frankly there are far better and safer areas to invest than the Philippines

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    Profile photo of EngeloRumoraEngeloRumora
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    My hubby and I are considering purchasing condo units from the Philippines. We would like it to be rented out to make extra cash. Or if it does not work, gamble with appreciation and resell? Is this worth the trouble? We’ve started looking at properties already on DMCI Homes. Any thoughts?

    Hi,

    I heave heard there are great opportunities in the Philippines and other countries like Thailand and Indonesia. As Nigel mentioned, there is quite a lot of corruption there and it would be difficult to tackle.

    They make you pay your way through a chain of people before you can finally get what you want.

    Like with everything, if you have enough interest and spend enough time, I am sure you will get the desired result.

    Thanks and have a great day.

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    Profile photo of lyme.hawthornelyme.hawthorne
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    @lymehawthorne
    Join Date: 2014
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    Well the both of them were right, corruption is a big thing in the Philippines. But I think it’s a good idea cause my mom once invested into condo units in the Philippines specifically in DMCI and also in SMDC and rented those units out. And she actually got good money out of it. :) Units they’ve purchased were easily rented out specially ones from DMCI due to its good reputation and great amenities.

    Profile photo of AlexaAlexa
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    @alexahamsa
    Join Date: 2014
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    As @nigel-kibel mentioned, yes corruption is really big in the Philippines but if you really want to invest there, you have to make sure that the developers have a good and solid reputation. Say hello to beaches and 24/7 warm weather as this is what’s in store for you in the Philippines. :)

    Profile photo of zyrine69zyrine69
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    @zyrine69
    Join Date: 2012
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    Thank you guys for your replies. We are aware of the corruption happening in the Philippines. But that will not push us back from investing. We just have to make sure we purchase from a reputable developer. Aside from DMCI Homes, what real estate developer could you recommend?

    Profile photo of thecrestthecrest
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    @thecrest
    Join Date: 2004
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    On a negative note and from someone who lost everything in a corrupt paradise, me.
    In corruption rife areas, you need protection, like an umbrella group, and it helps to have well connected legal representation in country. Do you have an exit strategy ? Remember, there is no democracy or natural justice in corruption rife areas, talk to the Australian Embassy there, as well as other expatriates already living there with established businesses, just to get an accurate outline of the entry startup biz system warts n all, and ongoing biz survival system. In a corruption system, there are always predators and justice between antagonists is a matter of who has the more powerful friends or connections and who paid whom more money. Many tropical paradises are graveyards of starry-eyed entrepreneurs’ dreams and business plans and capital. Some are successful.
    Cheers
    thecrest

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    Profile photo of lyme.hawthornelyme.hawthorne
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    There are a lot of condo developers in the Philippines so you’ve got a lot of choices. Here is the list:
    DMCI – my favorite. I once lived in their unit, I must say I loved it. Affordable but doesn’t look cheap and is worth more that what you pay for. Never been late of project delivery.
    Ayala Land – prices are quite high but it’s a good choice. Never been late of project delivery. Also, their malls are incorporated with their projects.
    SMDC
    Megaworld
    Robinson’s Land
    Century Properties
    Rockwell Land

    As for the others, don’t have so much information.

    Profile photo of Adrian CahillAdrian Cahill
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    @adriannqld
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    I have a good Solicitor available in Cebu if you like to contact him let me know.
    Ayala Land has a fantastic new development going on their as well.

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    Profile photo of RedwoodRedwood
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    Adrian – where you at – you we chat updates leave me curious.

    I’m in Shanghai later this month – maybe we can catch up for pijiu.

    Stay well

    Cheers Ivan

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    Profile photo of PHPPHP
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    @php
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    Not a really good idea if you really are serious about property investing. Unless you have an established network and a really good relationship with the right people, then just invest here in Australia. Better returns and safer (not referring to investing, but a life and death type of safe) This may sound extreme but you can get killed easily over there if you mess up with someone with connections to politicians.

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    Profile photo of DimpleDimple
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    Hi zyrine69

    If you don’t intend to live in the Philippines, you don’t have to deal with corruption. Corruption lies in the middle of the politicians and public officials. If your intention is to invest in properties for extra income, then you will be dealing with private real estate companies. There are a lot of good real estate companies selling top notch condominium properties. I know because I invested in 2 properties already. One from DMCI near the Global city and one from SMDC in one of the country’s tourist destinations.

    Profile photo of PHPPHP
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    @php
    Join Date: 2014
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    Hi zyrine69

    If you don’t intend to live in the Philippines, you don’t have to deal with corruption. Corruption lies in the middle of the politicians and public officials. If your intention is to invest in properties for extra income, then you will be dealing with private real estate companies. There are a lot of good real estate companies selling top notch condominium properties. I know because I invested in 2 properties already. One from DMCI near the Global city and one from SMDC in one of the country’s tourist destinations.

    Hey Dimple,

    Care to share your numbers? costs, yields, etc?

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    Profile photo of Adrian CahillAdrian Cahill
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    Ivan, I just visit Cebu & Bohol occasionally. In Townsville now, renovating, then back to Shanghai.

    Zyrine69, Love to see an update on your hunt. an Dimple, could you share your numbers.

    Personally, I would love to buy house and land on Palawan. Or if I was a young tech savy eager Entrepreneur, I would be tempted to run an Outsource center in Cebu with 2 apartments in Ayala.

    Adrian Cahill | AdrianCahill.com Personal Development Expert
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    Profile photo of PHPPHP
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    @php
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    Ivan, I just visit Cebu & Bohol occasionally. In Townsville now, renovating, then back to Shanghai.

    Zyrine69, Love to see an update on your hunt. an Dimple, could you share your numbers.

    Personally, I would love to buy house and land on Palawan. Or if I was a young tech savy eager Entrepreneur, I would be tempted to run an Outsource center in Cebu with 2 apartments in Ayala.

    That’s pretty interesting Adrian. Have you done your research regarding starting up an outsource center? How much to set up and what would be your ROI?
    Is Palawan on the rise therefore house and land is being considered?

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    Profile photo of Adrian CahillAdrian Cahill
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    @adriannqld
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    Deep breath in…..Deep breath out.
    You know the thing that kept me here and what I love most about this forum, is how we can be upfront, honest, we can be with our wins, losses, thoughts, stresses and all that.
    I kinda semi or fully retired in 2009, 28yrs old. After a few years backpacking I wondered what I would do next. I started this NLP Coaching thing, but it wasn’t going so well, luckily the stock market was recovering so it was easy to create $ off Stock Options. Anyhow on a trip back to Australia I met my cousin and told him about Tim Ferris 4HWW. My cousin was running a IT Business in Gold Coast. 6 months later he had employed 18 staff and was saving his company $16,000 a month. I had already been to and decided to return to Philippines to check out creating a Outsourcing center. I already knew a Lawyer but met him again. Got the low down recorded onto .mp3. Like most developing countries, and like Thailand, need a few thousand in the bank. Philippines were like 25% of 25% of a million pesos. Something like that. 5k – 10k Aussie. Lots of rules about 50% ownership, can get around it. Need 50% on the board to be Pinoy, but can get around it. Can buy people that are silent partners as well. Can charge Australian and International Businesses and that money is tax free as it is foriegn money coming into Phillipines. Can easily pick up local talent and with training sell them off internationally or capitalise on their talents, pick up jobs taking small buisnesses to scaleable/saleable. Was really interesting and exciting.
    I recruited some staff, found offices right near Ayala, networked a bit but eventually we didn’t go through with it. the 2012-2013 down turn in Australian economy, becoming to popular, BPO’s (business processing outsource) recruit from shopping centers, (sunday morning people go to Ayala mall, come out of a theatre which doubles as a church, eat bbq sanilog and pass recruiters offering up to $2-14 an hour.) Business/ROI wise it can work, however you need partners that can get your company the clients in Australia or parts of the world like Scandanavia.

    I actually have a Outsourcing Guide book made, I’ll happily share with PI members or sell on Amazon later.
    Or more stories about Philippines outsourcing here http://adriancahill.com/outsourcing/saving-by-hiring-virtual-assistant/

    Adrian Cahill | AdrianCahill.com Personal Development Expert
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    Here since 2002, however things have evolved over the years.

    Profile photo of P. DonnellyP. Donnelly
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    Join Date: 2015
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    Hi,

    I too have heard about corruption in the Philippine market. If it’s the Asia-Pacific market you are interested in, Japan is my preference because of the transparency with real estate professional services such as legal, financial, property management etc. On top of it, you can easily find high yield with stable cashflow, and properties that are affordable. Since your plan is to invest for rental income, another benefit is that Japanese tenants are docile, providing stable rental income and generally there are no problems with damage to apartments, etc.

    I’m jumping in a bit late in this discussion. Nonetheless, best of luck with your investment.

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    Profile photo of Zab04Zab04
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    Join Date: 2017
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    Yah, there might be corruption but I believe there are also corruptions in other countries too! I think the country is a great place to invest in buying real estate properties like condominiums. Take a look at this condo along Manila Bay – http://www.admiralbaysuites.com.ph/ . Isn’t this a great place to live in?

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
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    I have helped two separate Aussies who have purchased in Thailand and Indonesia.

    Each had their property ‘stolen’ from them.

    The guy in Thailand had a company set up to own the land, someone else forged signatures to transfer the shares in the company to someone else and the company then sold the land to an unsuspecting buyer. This guy has been going through the courts there to get his money back – over $1mil AUD – and has finally won, but it is still ongoing with the recovery of the money.

    The guy in Indonesia had something done to him at settlement so that the property was never in his name. He also has been through the courts and finally won, but then had trouble enforcing the judgment. The person had rented it out to the mistress of the police chief etc etc. His legal fees and expenses have cost what he paid for the unit.

    My advise would be to make money in Australia and then spend it overseas by renting.

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    Profile photo of thomaspastoralthomaspastoral
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    Just to put a different perspective in this kind of a topic, and since I currently live in the Philippines, I think that you should highly consider this option in buying a Condo or a Property to make an investment in the Philippines. With the market on high demand as of late, you can never go wrong in doing such investment. Condo can be very flexible and can be very much an asset that you can have for X number of years. Also, this would help you out to get some income whenever you need it. Other than that, you can try to consider a whole lot of things here and see what you can do in the long run.

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