Kingpin Posted April 1, 2023 Posted April 1, 2023 I predict it will be this: Quote One suggestion was that Congress enact a law allowing foreign nationals to acquire private land not exceeding 1,000 square meters and allowing foreign corporations to acquire rural land not exceeding five hectares. - https://cebudailynews.inquirer.net/496213/padilla-led-panel-pushes-100-foreign-ownership-of-land Their constitution is getting hit pretty hard lately: Quote Some provisions of Constitution already obsolete - https://www.sunstar.com.ph/article/1956133/cebu/local-news/lapu-lawmaker-some-provisions-of-constitution-already-obsolete Link to comment Share on other sites More sharing options...
BrettGC Posted April 1, 2023 Posted April 1, 2023 The developers and weathly landowners will be rubbing their hands at this. Prices will go up making it even harder for young Filipinos to own their own propertly. The knockon inflationary effects could also be disasterous. It benefits an already corrupt elite and not many others. Great for expats if it does come to pass but to my mind the negative impact on to Filipinos would be too great. It happened in Australia, young Australian families cannot afford their own home and one of the major factors is foriegn ownership pushing up prices, this includes professionals who have above average paying jobs. Negative gearing is also an issue but that's an entirely different problem resulting in the same thing; raised property values due to availability, or lack thereof. What is negative gearing? https://treasury.gov.au/review/tax-white-paper/negative-gearing 2 2 Link to comment Share on other sites More sharing options...
CebuAndy Posted April 1, 2023 Posted April 1, 2023 I honestly think it will start to snow in RP, long before this get through. Can't see it happen. 1 1 Link to comment Share on other sites More sharing options...
mountainside Posted April 1, 2023 Posted April 1, 2023 If the Chinese were excluded this might have a remote chance. But given the Chinese exploitation of POGOs and their exploitation of the SRRV program, not to mention the West Philippine Sea, the notion that Filipinos will permit the Chinese to buy up their land little-piece-by-little piece is DOA. Not even Rodrigo Duterte (had he ever wanted to) could have pushed this through. Beyond that, it seems deeply embedded in Filipino post-colonial thought that foreigners will never own even a piece of their land. 3 Link to comment Share on other sites More sharing options...
Kingpin Posted April 1, 2023 Author Posted April 1, 2023 8 hours ago, mountainside said: If the Chinese were excluded this might have a remote chance. Could easily happen in one of their 'unwritten rules', the same kind that keeps them or others from renting in certain places. Also there could be a legal requirement of permanent residency / marriage to Filipina before owning land. 2 Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted April 1, 2023 Posted April 1, 2023 11 hours ago, Kingpin said: Their constitution From your link: ". . .our Constitution, the law of our land, is already 36 years old and I believe that some of its provisions are already obsolete. . " IMO, 36 years is not long at all for a Constitution. Keeping in mind that this was written during Marcos' father's reign, I cannot picture the son overturning his father's legacy. It was his father who banned foreign ownership of land. Surely that was discussed at the dinner table and the son would know why foreigners cannot own land in the Philippines. 3 Link to comment Share on other sites More sharing options...
JJReyes Posted April 1, 2023 Posted April 1, 2023 About time. Elected officials love to pass laws. It makes them feel important and productive. Bureaucrats form committees to create complex rules. The lawyers benefit finding loopholes. Everybody happy. Simply, either allow private land ownership by individuals or corporation regardless of nationality or don't. The current system has to change for the sake of economic progress. 1 Link to comment Share on other sites More sharing options...
Kingpin Posted April 1, 2023 Author Posted April 1, 2023 5 hours ago, Dave Hounddriver said: I cannot picture the son overturning his father's legacy. It's not up to him, though even if it was his entire campaign was about separation from his father... 1 1 Link to comment Share on other sites More sharing options...
BrettGC Posted April 1, 2023 Posted April 1, 2023 7 hours ago, Kingpin said: Could easily happen in one of their 'unwritten rules', the same kind that keeps them or others from renting in certain places. Also there could be a legal requirement of permanent residency / marriage to Filipina before owning land. Great idea. 1 Link to comment Share on other sites More sharing options...
Kingpin Posted April 8, 2023 Author Posted April 8, 2023 Quote 41% of Filipinos favor reforms to Constitution Cebu Gov. Gwendolyn Garcia and Cebu City Mayor Michael Rama expressed support for the proposed amendments in the constitution. https://www.sunstar.com.ph/article/1958118/cebu/local-news/41-of-filipinos-favor-reforms-to-constitution Gwen supporting it just increased the odds immensely Link to comment Share on other sites More sharing options...
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