Beachfront properties are highly sought after as luxury investments or places to settle down. The Philippines is home to numerous beautiful beaches, with El Nido in Palawan being ranked among the top beaches in the world. With over 7,100 islands throughout the country, there is no shortage of options. However, the cost and concerns about living near the beach may make you hesitant. By considering the advantages and disadvantages, you will discover the many benefits of owning beachfront properties.
LOCATION
Choosing the perfect location is crucial for maximizing the benefits of your investment. If you're searching for the best beach property for sale in the Philippines, here are some useful tips. Firstly, consider the surrounding amenities and attractions. A beach property near popular tourist destinations or vibrant local communities can offer high rental income potential and resale value. Secondly, assess the accessibility and infrastructure of the area. Ensure that the property is conveniently located with good transportation links and essential facilities such as hospitals and schools nearby. Additionally, research the climate and natural conditions, ensuring that the beach property is situated in a safe and desirable environment. Lastly, examine the legal aspects, such as property ownership regulations, zoning laws, and permits required. By carefully considering these factors, you can find the perfect beach property that meets your investment goals in the Philippines.
LAWS IN BUYING PROPERTY FOR FOREIGNERS
Foreigners in the Philippines have the opportunity to own property through corporations that are majority-owned by Filipinos. In order to comply with the law, many foreigners have entered into partnerships with local individuals to establish a corporation, with the foreigners holding a 40 percent share. This arrangement allows foreigners to have a stake in property ownership while still adhering to the legal requirements set by the Philippine government. By forming these corporations, foreigners can enjoy the benefits of property ownership in the country and contribute to its real estate market. This regulation provides a path for foreigners to invest in the Philippine property sector while respecting the local ownership provisions.
Investors have the opportunity to lease private lands for a maximum duration of 50 years under the terms of the contract. This lease can only be renewed once, for an additional period of up to 25 years. This provides a substantial timeframe for investors to utilize the land for their business ventures. However, it is important to note that after the initial 50-year lease and the subsequent 25-year renewal, the investor will no longer have the right to extend the lease further. Therefore, careful planning and consideration of long-term business goals are essential when entering into such a lease agreement.
AVERAGE PRICES OF BEACH LAND
The price of land in the Philippines varies depending on its location and purpose. In urban areas, such as cities, the cost per square meter for commercial properties is approximately 10,000 Php. This higher price reflects the higher demand and potential for business growth in these areas. In contrast, suburban residential properties or commercial lands in the outskirts of cities are more affordable, with prices ranging between 2,500 and 3,500 Php per square meter. These areas offer a quieter and more peaceful environment, making them attractive for those seeking a suburban lifestyle. It is important to consider these price differences when buying land in the Philippines, as they can greatly impact one's investment decisions.