It has always been a part of the Filipino dream to buy a place you can call your home. This dream has become more accessible to many Filipinos and even Overseas Filipino Workers or OFWs due to the rise of many housing options in the Philippines.  In the market, you’ll be able to find a house that will fall within your budget if you search thoroughly and strategically.

One of the fears of an OFW is the complicated process of buying real estate. Thus, most of them leave the responsibility of going through the transactions to a reliable family member back in the Philippines. They do their best to avoid the gritty details, hoping that it will become much easier and faster. However, some Filipinos tend to skip over essential steps. Thankfully, due to the recent technological advancements, the overall process of claiming a home has now become manageable and less stressful even for OFWs.

Here is a comprehensive guide on how to buy properties in the Philippines for OFWs and Filipinos abroad.

Things to Consider Before Acquiring Real Estate

We have to remind ourselves that buying a house in the Philippines is not just all about monetary transactions. It goes beyond that! It requires a lot of obligation and commitment to attach your name to a property. Here are some things you have to consider first:

Be Rational About Your Goal

When Filipinos have the money to buy a property, we often rush to buy it just to achieve our dream of owning one. But we shouldn’t rush into things such as these. When hunting in the real estate market, make sure you have specific goals before deciding to go. For OFWs, if you plan to go back to the Philippines after a few months or years, you should only buy a home property depending on the duration of your stay. In this situation, careful consideration of retirement needs is essential. If you are thinking of acquisition for your rental apartments and Airbnb, think about the availability of goods and services.

Analyze and Check

It would help you if you visit the property in person to verify that it is your choice before buying. This survey would give you an idea of the surrounding land. One of the hurdles when buying properties overseas is that you could not inspect the physical property. If you wish to buy a condo in the Philippines, you can check out their website to see their map of housing properties.

It is necessary to know the real estate market trends in the Philippines as well. Ensure that you obtain your fair value as it’s risky to buy land from an inept developer. You should also enter groups in social networking sites or forums focused on essential knowledge about this industry. The first-hand experience gained from previous purchasers can help you determine which estate to purchase. 

Collaborate with Experts

Though the majority of OFWs immediately head to their trusted family members for help, there is still a huge possibility of being duped by them. The best choice is still to get a professional real estate broker to help you step by step. By partnering with a real estate agency, you can cover and protect yourself from scams. Since customers are assured of transparency, they are shielded from retailers who will supply them with terrible goods.

The Process for Buying Properties in the Philippines as an OFW

For buying different types of real estate, there might be varying requirements. Here are the general requirements that may be required from you:

Needed Documents

Your real estate broker will give you a list of needed documents. Most required documents include:

  • Your current passports
  • Special Power of Attorney (SPA)
  • Copies of your ID cards
  • Proof of electricity or water bills
  • Proof of work contract or payment verification from your employer

Also, make sure to complete your paperwork to get your prospect house or condo accepted in government-provided financing. These papers are relevant. Hence highlighting the information is appropriate. You and your broker must have a record of your accounts and financial movements as well.

The estate agent will give you an official SPA allowing you to register and certify. This is the legally binding document allowing your lawyer to act on your behalf. Our office should consulate the necessary documents. Typically, it takes roughly 25 USD to print pages from your own country. The papers would have a little ribbon and a seal attached to them.


Usually, a deposit is normally expected of between ten to thirty percent. This will vary between developers. The transfer of the ownership of the unit is not done until you have obtained your full payment. But the ownership of the unit should already be vested in the Certificate of Title of the Condominium (CCT). Before estimating the overall spending, you can calculate the total expenditures. Mortgage applications must be in place. Other protocols and procedures must be issued by the manager.

Turnover of Property

The turnover phase, for the owner, is a lot of fun. You will now see the rewards of your work for the very first time. If payment is made on time, development may be completed within thirty days to nine months. The actual review would then be arranged. To do this effectively, do this on your own. Your attorney can do this for you too. It is vital to be equipped with house rules, legislation, and policies during the takeover of the unit. Once you settle in, your representative can clarify the conditions and any changes to you.

What Are Real Property Taxes?

There are two primary forms of taxes in the Philippines, namely the property tax and sales tax. The Local Government Code of Local Government Administration gives local councils the right to pool resources to aid in public expenditure. Another revenue generator for the municipal government is property taxes. The citizens who already own real estate are those that have to pay these taxes. Since your identity is now on the certification of ownership of the land, taxes must be paid.

How Much Should a Filipino Pay?

In determining the amount of money you can contribute exactly, you could calculate the estimated value of the property first. We can get this number by calculating the fair market value and assessment standard. The amount of insurance cover can vary according to the type of property that you choose to insure. Access the complete set of questions and answers in Section 218 of the Local Government Code on the internet. After measuring the estimated value, take into account the rate of tax in your region. If a property is located in Makati District, you have to pay two percent of the overall estimated property value. The provincial average is one percent.

How Often Should I Pay Taxes?

If you are willing, you can settle your loans on or before the 31st of December every year. If you want anything that’s similar to the current, there’s a floating monthly payment option. List of due payments to consider: Besides, the penalty for non-payment is a two percent fee every month. Once you fail to resolve your commitments for three years, you will be facing penalty payments of up to 75%.

Final Thoughts

For a majority of Filipinos, owning a house is a holy grail of dreams. Getting a room that you own, and you can call your own home, is appealing. In the past years, the income of the OFW community has continued to grow due to buying residential properties. A great deal of a person’s ability to buy a house comes from providing the sum of cash to fund the principal payments and quarterly amortization mortgage. People can purchase real estate even though they have no money since they want to have their own house.

When buying or selling a property this year, it is best to consult a well-known real estate broker. For OFWs, this might not be the easiest thing to do. Thankfully, due to the rise of technology, you can now shop real estate online! Here at Lilian Real Estate, we have a large inventory of properties that you can look through at the comfort of your own home.
With just a click, you will be able to scan through the properties available in Manila, Makati, Rizal, and Quezon City. If you are looking to rent instead of buying, you can also get reliable information from us. Check out our website for more details.

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