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Post by aussie25 on May 27, 2014 6:45:23 GMT 7
Hi Sandycreekg, Sorry but it is impossible for you to buy any land in the Philippines and that includes Thailand, The only thing that you may purchase is a condominium unit and foreigners are allowed to purchase upto 40% of all units in a single condominium complex.
If you have a Filipino wife you can buy it in her name but in case of separation she remains the owner and she has also the right to kick you out at anytime.
If you are living in Cebu City I can highly recommend buying a unit in Urban Homes Tipolo Mandaue is very conveniently located and the units are brand new, They just require a 10,000 reservation deposit and then 2 monthly payments until turnover of 8,500 after that the monthly payments are around 10,000 a month over 25 years or slightly higher for less amount of years. The units cost around 1 million peso's each /$25,000. They offer in-house financing so you would have absolutely no problem getting a loan just show them a copy of your pension statement.
Also can I suggest before leaving that you open a Citibank account and have your pension payed into that as if you use the Citibank ATM's in either Ayala or another location you will have $0 fees and the conversion rate is pretty much what is shown on XE less around half a percent VISA charge. Only downside to this is that you will receive your pension a day later as they don't process government payments overnight like other banks and would hit your account the following day.
If you have a Filipino bank account you could transfer your money using Forex World they charge only a $8 fee and the money arrives within hours, You can just do a internet banking transfer to them. The rates are outstanding at 40.1 to $1aud while the XE showed around 40.3php to 1aud.
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Post by Banjo on May 27, 2014 6:58:53 GMT 7
When I was there foreigners could buy land through legal firms who bought, held and sold it on request. Surprisingly this system seemed to work, sure there were cases of dishonesty but the firms who specialised in it generally had a good name in the expat community.
If you don't have UP then Centrelink, if they knew, would see overseas land ownership as proof of living outside of Australia. This would be used against you in a loss of residency case. You would need to make a good case that the land was bought as an investment rather than to build a residence on.
Personally I would leave it until after UP was granted.
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Post by sandycreekg on May 27, 2014 7:35:56 GMT 7
yes most definately leave some thing like that until I was sure I had UP, and then maybe not say anything, I actually have a few Australian friends up behind Valencia who actually own land in their names and it is lovely up there and sunday morning markets in Valencia are really good and have a wide range of cheap produce and clothes and lots of other stuff.
There is also a lovely place above Valencia called Forest camp and it is a private property with man made rainforest rock pools to relax in and serves lovely food, and if you go up further there is a place called Cassaroro falls.
And up behind Dumaguete is a place called Red rock hot springs............a lovely man made rock pool with natural thermal hot water flowing into it.....very relaxing
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Post by Denis-NFA on May 27, 2014 7:47:23 GMT 7
yes most definately leave some thing like that until I was sure I had UP, and then maybe not say anything, I actually have a few Australian friends up behind Valencia who actually own land in their names and it is lovely up there and sunday morning markets in Valencia are really good and have a wide range of cheap produce and clothes and lots of other stuff. There is also a lovely place above Valencia called Forest camp and it is a private property with man made rainforest rock pools to relax in and serves lovely food, and if you go up further there is a place called Cassaroro falls. And up behind Dumaguete is a place called Red rock hot springs............a lovely man made rock pool with natural thermal hot water flowing into it.....very relaxing All the best to you... sounds great.
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Post by Banjo on May 27, 2014 8:16:52 GMT 7
Owning Land in the Philippines Former natural-born Filipinos can own property in the Philippines, subject to limitations prescribed by Philippine Republic Act 8179 (residential property up to 1000 square meters of urban land or one hectare of rural land) and Batas Pambansa 185 (business property 5000 square meters of urban land or three hectares of rural land). Philippines real estate law does not allow outright ownership of real property by foreign nationals. Filipinos and former Filipino citizens and Philippine majority owned corporations are permitted to own land, buildings, condominiums and townhouses. Foreign nationals may buy condominiums units in Philippine condos (shares in condominium corporations) as long as not more than 40% of the units in a project are acquired by foreigners (Republic Act 4726, otherwise known as the Condominium Act). www.philippineconsulate.com.au/owning-land-in-the-philippines.html
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Post by Banjo on May 27, 2014 8:18:43 GMT 7
Just watch those long term expats in the Philippines, some of them prey off newcomers like ravening wolves.
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Post by sandycreekg on May 27, 2014 8:38:54 GMT 7
Thanks Banjo, thats is a very informative comment, and thanks for that link, yes I have met some of those type of expats........some good food for thought, I am more than happy to rent long term as well as there is some nice rentals around Valencia, just a little expensive in some places as a lot of foreigners own the rentals........and they seem to be in competition to see who can get the higest rentals.....smile
Land tax or rates on land around Valencia is about $70 a year and fresh spring water supply from the mountains is about 50 cents a month for unlimited supply.......amazing
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Post by sandycreekg on May 27, 2014 8:39:54 GMT 7
Thanks also to aussie for your comments as well.....very informative
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Post by Denis-NFA on May 27, 2014 8:50:29 GMT 7
Just watch those long term expats in the Philippines, some of them prey off newcomers like ravening wolves. I see it where I am. I pay a rent of 78,000 pesos per year (about AUD$2000). In 10 years I will have paid about AUD$20,000 (780,000 Php). When folk start talking about how cheap something is I just remember how much it costs for property, whether rent or buy, in Australia.
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Post by sandycreekg on May 27, 2014 9:28:38 GMT 7
Hello the green man, Where are you in the Philippines.....?? do you have good access to medical , dental...etc....??
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Post by Denis-NFA on May 27, 2014 10:28:43 GMT 7
Hello the green man, Where are you in the Philippines.....?? do you have good access to medical , dental...etc....?? Hey sandycreekgI am on the island called Cebu in a small country town about 2 hours travel South of the city of Cebu. I live opposite a University training hospital and there is a public hospital in the town. Doctors are good, cost about AUD$5. If you need blood analysis they have to send it up to Cebu City, takes about a week turnaround. Costs approx AUD$40. Dental I am not sure about but there is a dentist 3 doors away. Like Thailand the Philippines has excellent trained in USA medical practitioners. I cannot stand living in a city so I am out in a country town and have rice being grown over the back fence. Most of the foreigners here seem to be mainly Northern European types... Norwegians being promontory. And of course many Americans. I can count on one hand the number of Australians! If you wish to know more then check my posts, or get my email from Banjo, or just PM me. All the best to you.
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Post by sandycreekg on May 29, 2014 8:08:31 GMT 7
Hi Green man, ok you are the guy living in Argao, yes I remember your comments about living there, I pass through there in the Ceres bus on the way to Dumaguete, it is quite a nice place there and looks like nice beaches as well.
Take care there
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Post by Deleted on May 29, 2014 9:01:04 GMT 7
My two cents: Never own, RENT!
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Post by Denis-NFA on May 29, 2014 9:09:02 GMT 7
Hi Green man, ok you are the guy living in Argao, yes I remember your comments about living there, I pass through there in the Ceres bus on the way to Dumaguete, it is quite a nice place there and looks like nice beaches as well. Take care there Thanks sandycreekgDumaguete is my favourite city in the Phils, so far. Mind you I haven't traveled much. Argao has grown exponentially in the short time I have been coming here. If I could find a place to rent I would probably live in Sibalong and take the ferry across to Dumaguete! All the best.
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Post by Denis-NFA on May 29, 2014 9:09:38 GMT 7
My two cents: Never own, RENT! Totally agree.
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