From Abroad to Home Sweet Home: OFW Guide to Buying a Condo in the Philippines
As an OFW, your hard-earned savings can secure a condo back home, with full citizenship rights ensuring seamless ownership even from overseas. This guide highlights legal ease, investment perks, and tips for a worry-free purchase.
Frequently Asked Questions
Can OFWs buy condos without returning to the Philippines?
Absolutely, via special power of attorney; many developers offer virtual tours and e-signing in 2025.
Do OFWs face any ownership restrictions?
No, as citizens, you have full rights, unlike foreigners limited to 40% in condos.
How to finance a condo as an OFW?
Use Pag-IBIG or bank loans; proof of overseas income qualifies you for favorable terms.
What if I want to own land too?
Possible, but condos are easier for urban investment; check agrarian laws for rural areas.
Are there tax implications for OFW property sales?
Yes, 6% capital gains tax, but exemptions apply for principal residences.