Mr Lee Posted October 31, 2009 Posted October 31, 2009 Things may get easier for people who wish to live full time or part time in Cebu. It looks like those in power may be realizing what I have been saying all along, having non Filipinos own and live part time or full time should stabilize the economy of the Philippines by having a constant flow of foreign money into the economy. CEBU, Philippines - Adding boost to the twin economy drivers of Cebu Link to comment Share on other sites More sharing options...
johnb Posted October 31, 2009 Posted October 31, 2009 (edited) Things may get easier for people who wish to live full time or part time in Cebu. It looks like those in power may be realizing what I have been saying all along, having non Filipinos own and live part time or full time should stabilize the economy of the Philippines by having a constant flow of foreign money into the economy. CEBU, Philippines - Adding boost to the twin economy drivers of Cebu — tourism and Information Communication Technology (ICT) industry, the Cebu Investments Promotions Center (CIPC) will lead the promotion in making Cebu as the premier second home destination in the world.CIPC managing director Joel Mari Yu announced that the center will initiate a comprehensive program that will need the full support of related agencies such as Philippine Retirement Authority (PRA), Department of Trade and Industry (DTI), Department of Tourism (DOT), the property developers, local government units (LGUs), and the Philippine Economic Zone Authority (PEZA) to fast track this plan, make the world know that Cebu is the new "second home destination" in the world, next to Spain and Dubai.If the campaign could attract at least 1,000 foreign buyers, and each would buy at least US$100,000 worth of vacation home, it could easily generate US$100 million revenue for the Philippine economy. You can read the whole story here Hi Lee, I must admit that any attempt to assist foreigners either living full or part time in this country would be welcomed.If the Philippines is looking for any similar model for this programme, then Malaysia would be a good start, http://www.12retireinmalaysia.com/mm2hprogram.htmJohn Edited October 31, 2009 by johnb Link to comment Share on other sites More sharing options...
Mike S Posted November 1, 2009 Posted November 1, 2009 Two things ...... first it will take an amendment to the Philippine constitution to allow foreigners to own land no matter what a group of Cebuano want to do ....... and second as you can see the house prices just got much much bigger with a price tag of $100,000 US ........ you can buy one hell of a lot of house here for $100,000 ........ or 4,700,000p ..... so that shows they are counting on the prices going up ........ and now with the prices going up what is the average Filipino going to do about being able to afford a home ...... pretty soon the Phils will be like US housing .... pricing themselves right out of market ...... I hope if they ever do allow it to happen that they look at it real hard and take some precautions to prevent speculation .. greed .. and corruption from kicking the Filipinos out of their homes ...... but as it doesn't happen now (the greed and corruption) ..... I doubt if it will then ........... I wonder how many foreigners would want to buy or could afford land or houses if the price was compared to that of the US ....... Link to comment Share on other sites More sharing options...
TheMason Posted November 1, 2009 Posted November 1, 2009 Things may get easier for people who wish to live full time or part time in Cebu. It looks like those in power may be realizing what I have been saying all along, having non Filipinos own and live part time or full time should stabilize the economy of the Philippines by having a constant flow of foreign money into the economy. CEBU, Philippines - Adding boost to the twin economy drivers of Cebu Link to comment Share on other sites More sharing options...
Mr Lee Posted November 1, 2009 Author Posted November 1, 2009 While I understand that it would take a law to make land ownership legal for foreigners, I believe that some good legal minds could work on developing a community for foreigners with possibly a long term land lease. And as for the 100k price tag, I think that is cheap for most of the upper class properties in Cebu. I know that just the houses without the land would probably cost that much in an upscale development and I do not think that would directly affect average Filipino homes if they built it as a separate expat community. Link to comment Share on other sites More sharing options...
johnb Posted November 1, 2009 Posted November 1, 2009 In the Malaysian second home system, foreigners can only own house and lots over a certain price bracket, this protects the lower income house buyers market.John Link to comment Share on other sites More sharing options...
Hoz Posted November 1, 2009 Posted November 1, 2009 "We have a very good value proposition, the tropical climate, beaches, world-class medical facilities, shopping, and dynamic economy in business. Let's capitalize on what we have Link to comment Share on other sites More sharing options...
Mike S Posted November 2, 2009 Posted November 2, 2009 As far as an ex-pat concentration camp or community as you put ... not everyone wants to live with other ex-pats ...... I mean if you want to live where you are surrounded by foreigners in 100,000 dollar houses why move here ..... just stay in your own country ..... where as many foreigners put it "things are better anyway ...... and wouldn't it be a lot easier for the government to track and control the ex-pat community as well as a target for unscrupulous persons if the only way you could own land is if you lived in an ex-pat community ........ I know some people don't like to think about this BUT WE ARE NOT GOD"S GIFT TO THE PHILIPPINES ...... we do not supply the majority of money ... or even come close to it ... to support the country or make it run ....... we are merely allowed to live here as guests and unlike the US where ANYONE can demand and receive equal rights it is not so here in the Philippines and we all knew it before we came here and if we were not willing to except that fact maybe we should have stayed home ...... I know it is very hard to have to leave our way of living back in our respective countries but that is the way it is ........ and we can't just have all the good parts pertaining to the countries where we came from and impose them here in this country ........ it ain't gonna work ....... it would be nice to find a country that had only the best qualities from all the other countries .... but I'm afraid it perished long ago ..... it was called THE GARDEN of EDEN ........ Link to comment Share on other sites More sharing options...
tropicalwaste Posted December 17, 2009 Posted December 17, 2009 Lets be honest here $100k houses arent likely to happen for most expats in the forum and personally I would be uncomfortable investing that sort of money into a property in the Philippines unless it was split into rentals. I think the Philippines needs to concentrate more on infrastucture and developing links with overseas investments rather than throwing this sort of thing in the mix. Something that would make sense to me is sub-divisions falling into the same rules as Condo`s so that expats can own a property in a Sub-division development of 40% the properties regardless of price tag attached to the property as this would be more useful and more likely to attract overseas buyers. Link to comment Share on other sites More sharing options...
retired Posted December 17, 2009 Posted December 17, 2009 Lets be honest here $100k houses arent likely to happen for most expats in the forum and personally I would be uncomfortable investing that sort of money into a property in the Philippines unless it was split into rentals. I think the Philippines needs to concentrate more on infrastucture and developing links with overseas investments rather than throwing this sort of thing in the mix. Something that would make sense to me is sub-divisions falling into the same rules as Condo`s so that expats can own a property in a Sub-division development of 40% the properties regardless of price tag attached to the property as this would be more useful and more likely to attract overseas buyers.Some interesting ideas being presented though i am not sure how many folks would be interested in 4 - 5 million price tag range . I do think infrastructure issues need to be addressed throughout the country and particularly in those cities wishing to appeal to expats . Here in Cagayan de Oro they are pushing the idea as well and there are more apartments and condos rising but the powers that be don't seem to understand the infrastructure issues . The city is investing millions for some sort of tourist type attraction along the river area downtown but two or three blocks over they tear up the and re-pave the same streets every year . Not to mention the fact that there are two many areas within the city proper where you can't even get city water 24 hrs a day . And even where you can , don't ask about water pressure . :-) Link to comment Share on other sites More sharing options...
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