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What is included in the package of documents required to purchase real estate in the Philippines?
Any foreigner planning to buy real estate in the Philippines must provide:
international passport;
your TIN. This is a tax identification number in the country, issued by the Bureau of Internal Revenue (abbreviated BIR);
documentary evidence of your financial solvency, allowing you to purchase real estate in the Philippines. This could be a certificate of cash flow in a bank account for the year, a salary certificate, etc.;
purchase and sale agreement.
Married individuals may also need a marriage certificate, and those who have lived in the country for a long time may need an Alien Registration Certificate, also known as an ACR.
Where do people most often want to buy real estate in the Philippines?
In Manila and in the cities of Cebu, Baguio, Makati, Quezon City. Among the regions, Central Visayas and Luzon Island are in demand.
How much does 1 sq. m of real estate cost on average?
The national average is 2000-2300 US dollars. Home prices in the Philippines are determined by location: the most expensive properties are in Manila, the cheapest are in Pampanga and Cavite.
