Rent Control Law in the Philippines
July 16, 2009
On July 14, 2009, President Gloria Macapagal-Arroyo signed into law the Rent Control Act of 2009 which will supposedly protect millions of Filipinos renting houses around the country.
Republic Act (RA) 9653, “An Act Establishing Reforms in the Regulation of Rent of Certain Residential Units, Providing the Mechanisms Therefore and For Other Purposes,” effectively extended the old Rent Control law (RA 9341) that expired on December 31, 2008.
Tips when buying a condo unit
October 9, 2008
Here is a list of things you should consider when buying a condominium unit. Price is definitely a major issue but should not be the only issue.
After living for more than a year in a Makati condo and for three months in a condo at The Fort, I have identified seven (7) basic but important things that must be considered before purchasing a condo unit.
Feel free to add your inputs to the list!
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Buying and owning property in the Philippines
September 24, 2006
Compared to other countries, the Philippines still has a highly-regulated real estate industry. There are strict rules with regard to purchasing, owning, and investing in real estate and, by default, foreigners are not allowed to own property.
Here’s a primer to help you understand how to buy, own, and invest in real estate property in the Philippines.
Question 1: I am a former natural-born Philippine citizen but have become a naturalized American citizen. Am I still allowed to own land in the Philippines?
Answer 1: Yes. Any natural-born Philippine citizen who has lost his Philippine citizenship may still own private land in the Philippines up to a maximum area of 5,000 square meters in the case of rural land. In the case of married couples, the total area that both couples are allowed to purchase should not exceed the maximum area mentioned above.
