Your Dream Condo Awaits: A Local Filipino's Guide to Buying Property in the Philippines
As a Filipino resident in the Philippines, you enjoy unrestricted access to condo ownership, making it an ideal way to invest in urban living and build lasting wealth. This comprehensive guide walks you through the process, from legal perks to lifestyle perks, ensuring a smooth path to your perfect home.
Frequently Asked Questions
Can local Filipinos own multiple condos in the Philippines?
Yes, there's no limit on the number of properties you can own as a Filipino citizen, provided you comply with tax obligations like the 6% capital gains tax on sales.
What are the tax benefits for condo buyers in 2025?
The Real Property Valuation and Assessment Reform Act offers amnesty on unpaid taxes until July 2026, potentially reducing your liability on older units.
How do I handle condo association disputes?
Refer to the master deed; HLURB mediation is available for fair resolutions, as per RA 4726 amendments.
Is condo ownership better than house and lot for locals?
Condos offer security and amenities, but houses provide more space—choose based on lifestyle, with condos ideal for urban dwellers.
What if I want to rent out my condo?
No restrictions; platforms like Airbnb are popular, but check local ordinances for short-term rentals.