Buying an apartment in Cebu

[Lorenzo]

If I had of known I was going to receive so many negative responses I would not have bothered asking the question when I have replied to a forum question I have always tried to be honest and constructive with my views it seems to me that from the response I have had anyone considering purchasing a property of any description in the Philippines has to be crazy if this is the case why on earth is there a lot of expats living there are they all living in rented properties

Maybe time to read the tea leaves ossie. Your plan is so rediculous as to border on unbelievable. It has drawn out responses which have quite politely pointed out what would be obvious to any reasonable investor. Keep your money in some very very safe investments or you could easily loose all.

[ossie]

OP: I built a big house here three years ago, but, I have lived here for fifteen years and had been here twelve before I finally built. I know Cebu well, as I do almost all parts of the country, and personally would never build or buy there. If you build, you will have trouble selling it later for what you paid, and if you buy, you are buying someone else's problems and the same applies as above to trying to sell it later. If you aren't married to a Filipina, you will certainly have legal issues with which to deal, and if you are an absentee landlord, you will get ripped off. It is a bad idea.

Point taken I will take your advice as stated in my original enquiry I want to buy property in countries where a British pensioner can continue to receive their yearly pension increments and the Philippine's is one of the few countries with that type of agreement,however having taken on board all comments I am going to give the idea the thumbs down I am happy to say that although the housing market has slowed down in Thailand properties are still selling.

[ossie]

If I had of known I was going to receive so many negative responses I would not have bothered asking the question when I have replied to a forum question I have always tried to be honest and constructive with my views it seems to me that from the response I have had anyone considering purchasing a property of any description in the Philippines has to be crazy if this is the case why on earth is there a lot of expats living there are they all living in rented properties

Maybe time to read the tea leaves ossie. Your plan is so rediculous as to border on unbelievable. It has drawn out responses which have quite politely pointed out what would be obvious to any reasonable investor. Keep your money in some very very safe investments or you could easily loose all.

I shall stick to investing in Florida as I get very good returns from my property there which I might add have never set foot in as they were purchased via the internet I do not believe in Tea leaf reading I actually try to make my money work for me and so far I can not complain as I have a very modest and healthy life style

[Davis Knowlton]

^^A wise move. This is a third-world country on a good day. If you don't live here full-time, and have a Filipina wife, and know your way around and a lot of people in places to help you out, you will get burned. I know far too many people who have lost all of their money here. Those who do well fly well under the radar, keep their paperwork in order, front everything through their Filipina spouses, and never plan to leave so the resale issue doesn't come into play. Life can be good here, if you are on top of your game, but to invest sight unseen here is simply an invitation to disaster.