How do China people buy a house in the Philippines?

Open an account with China Bank in the Philippines, and deposit 50,000 US dollars (this money can't be used), which can only be used for their designated investment projects.

Whether it is a tourist visa, a work visa or an SRRV visa, you can buy a house in the Philippines, but you can't buy land. The house is for high-rise apartments, and you can't buy any real estate with land (not even a villa).

The government stipulates that foreigners can buy houses, but not land. Foreigners can only occupy 40% of the whole apartment. In other words, 60% of the whole building belongs to Filipino buyers and 40% is allocated to foreign investors. Real estate in the Philippines is a permanent property right.

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Precautions for buying a house in the Philippines:

1. You need a passport to buy a house in the Philippines. You can only buy one or two sets if there are strict requirements during the validity period of the passport.

2. Submit relevant materials and some completed forms first, and you need to pay a deposit, which will be used to deduct the house payment.

3. Payment methods will vary according to different operators, including full payment or installment payment. Installment payment is interest-free in the Philippines, but it is based on interest. If it is paid in full, there will be preferential activities, and the intensity of the preferential treatment will be greater.

4. When paying the final payment, you need to pay taxes. This tax is paid separately and is not included in the house price. After that, you should submit a copy of your passport to the developer for real estate license.

Baidu Encyclopedia-Philippines