Mr Lee Posted February 17, 2010 Posted February 17, 2010 Does anyone think this will ever become a reality? Would anyone buy land or a home if they were allowed to? Among those who seek to remove the ban on foreign ownership of land are administration candidate Gilberto Teodoro Jr., Sen. Richard Gordon (Bagumabayan), and former President Joseph Estrada.Land ownership by foreigners story Link to comment Share on other sites More sharing options...
TheMason Posted February 17, 2010 Posted February 17, 2010 I would buy a house and lot, but not large parcels of land. I came close to buying property in Baguio, but I just couldn't bring myself to spend $100k on a home I could not put my name on. I love my wife and don't think she would take advantage of me....but who knows what the future holds. I decided its best to save the money and buy something in the US that I can own.Personally, I think unrestricted foreign land ownership is a bad idea. There need to be limits on the amount of land that can be owned. For individuals, I don't see the need to permit more than 0.5 hectares for personal use. For businesses, they could allow more. Link to comment Share on other sites More sharing options...
mike Posted February 17, 2010 Posted February 17, 2010 I would buy a house and lot, but not large parcels of land. I came close to buying property in Baguio, but I just couldn't bring myself to spend $100k on a home I could not put my name on. I love my wife and don't think she would take advantage of me....but who knows what the future holds. I decided its best to save the money and buy something in the US that I can own.Personally, I think unrestricted foreign land ownership is a bad idea. There need to be limits on the amount of land that can be owned. For individuals, I don't see the need to permit more than 0.5 hectares for personal use. For businesses, they could allow more.I think that private individuals who are foreigners who are permanent residents here should be allowed same ownership rights. That way the speculators will be left out.Foreigners are allowed to own condos, yet there are more empty dilapidated never lived in condos over 20 years old than there are ones owned by foreigners. the point is we are not the reason for high priced condos. Also any foreigner can own a condo so its not exactly a protected market yet is still highly inflated by local purchases not foreign ones.For corporate players I see no problem with specific eco zones being set up in the more remote places that allow ownership. This would attract infrastructure and job opportunities. Would not wish to see overseas corporate real estate developer set up as it is speculation that inflates the market.Mike Link to comment Share on other sites More sharing options...
Warlord Posted February 23, 2010 Posted February 23, 2010 Foreign ownership is a topic that has been discussed many times.One point to be made is that without some type of ownership rights filipina woman will continue to scam men out of $1000's of dollars considering they are the one holding the deed. I seen many filipino families that became the sole owner after they marry some old fart. Its funny how many of these situations I came upon when I was looking for a place to rent. I would enquire about the home and the filipina would state she was married to such and such (many were Germans) and now he was back in Germany in nursing home and I would look and see this huge home with built in swimming pool thats was bigger then the house sometimes. Well I would think to my self what a sucker this guy must have been. This place is close to a mansion. As I would walk around and look at the place inside I noticed so many filipino's watching big screen TV etc etc ... Now this really give you and insight on WHY? not to build here in Philippines right now.. Think I will continue to rent. Until they make some changes to foreigners owning the land I wont be buying anything.Another thought is so you have a good filipina wife and you dump all this money into this place and then you decide to leave and sale.Now think about it you have this $100,000 dollar sweet ass home but the market you have to sell to is very limited as most Filipino's cant ever afford your selling price so your market to sell in is mostly foreigners.Opening home and property ownership would greatly expand the market.Will it happen? hmm....Doubt it to many Filipino's getting rich off foreigners :thumbsup: Warlord Link to comment Share on other sites More sharing options...
Demeter Posted February 23, 2010 Posted February 23, 2010 This is a good idea as it ensures the foreigners' wealth and lessens their fears of being taken advantage of in the future.I know a European guy who has bought his girlfriend a house and recently a vehicle. I know his girlfriend very well and know that she has another boyfriend, an American guy. She has confessed to me that she won't marry the European guy as she loves her American bf. The European guy is so nice but wants to do whatever he wants to do without considering all possibilities. If he had joined forums like these, he could have thought about it more. Link to comment Share on other sites More sharing options...
Mr Lee Posted February 24, 2010 Author Posted February 24, 2010 Many of the examples I have seen of men being cheated out of their homes seem to be an act of the men trying to buy love and thinking with their wrong head. Who comes to a poor country and buys a new wife or a gf a large expensive home and or car, or other expensive items without understanding the economy here. The saying "A fool and his money are soon parted" applies here as well, and my guess is that most of these same people would never do that back home in their own countries, so why the heck they do it in the Philippines is beyond me.Now with that said, my wife and I have bought condos and they are in both names but with her as the first person on the title, so I fully trust her, but we are not newlyweds and we have been married for quite a while and we know each other very well. I hope we do not have to continue to read so many of these stories of guys getting duped, not because I do not want to hear them, but because I wish less guys would be sooooooo stupid. :thumbsup: Guys, learn to think with the head on your shoulders or suffer the consequences. Oh, and do not cheat on your lady because if she is not the type to do that to you, then that might just give her the excuse she needs to change her mind and to part you with your funds. Link to comment Share on other sites More sharing options...
Travis Posted February 24, 2010 Posted February 24, 2010 it would be nice to be able to buy a home here in my name so I am all for it Link to comment Share on other sites More sharing options...
Mugs Posted January 7, 2012 Posted January 7, 2012 Does anyone think this will ever become a reality? Would anyone buy land or a home if they were allowed to? Among those who seek to remove the ban on foreign ownership of land are administration candidate Gilberto Teodoro Jr., Sen. Richard Gordon (Bagumabayan), and former President Joseph Estrada.Land ownership by foreigners story any updates on this land ownership? 1 Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted January 7, 2012 Forum Support Posted January 7, 2012 Does anyone think this will ever become a reality? Would anyone buy land or a home if they were allowed to? Among those who seek to remove the ban on foreign ownership of land are administration candidate Gilberto Teodoro Jr., Sen. Richard Gordon (Bagumabayan), and former President Joseph Estrada.Land ownership by foreigners story any updates on this land ownership?Don't hold your breath. Link to comment Share on other sites More sharing options...
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