Real Estate in the Philippines
Stay updated about the real estate scene in the Philippines. Check out these articles that we prepared especially for you.
SOAR 2021
Dear Clients, Partners, Associates, and Staff, As we enter 2021, We would like to once again express our deepest gratitude for your support and continued patronage of YourBrokerPH. We promised to be Bolder in 2020, not knowing that we would really need to be bolder in the face of a global pandemic that put the world on lockdown, crushing many businesses and leaving thousands of people unemployed. We were profitable during the first quarter so
Foreigners Can Own Land in the Philippines
As a rule, foreigners cannot own land in the Philippines. But, that’s the general rule. There are, in fact, recognized exceptions on when foreigners can own land in the Philippines. Acquisition before the 1935 Constitution Prior to the 1935 Constitution, there was actually no law prohibiting foreigners from owning lands in the Philippines. In fact, the Land Registration Act of 1902 – the landmark American legislation that provided for a comprehensive registration of land titles
First REIT listing filed by ALI
After more than 10 years, the application for the Philippines' first REIT listing was finally filed with the Securities and Exchange Commission (SEC). After the release of the revised Implementing Rules and Regulations (IRR) of Republic Act No. 9856 or the Real Estate Investment Trust Act of 2009 last Jan. 20, 2020, Ayala Land, Inc. announced that its subsidiary AREIT Inc. (formerly AyalaLand REIT Inc. and One Dela Rosa Property Development Inc.) filed its application
What is a REIT?
We recently heard the news that the BIR issued the much-awaited revised guidelines on the Real Estate Investment Trust ("REIT") Act . But what exactly is a REIT? A REIT is basically a company that owns, operates, and finances real estate that generates income. This income is then distributed as dividends to its shareholders. For common folks like us, a REIT provides us an opportunity to "own" a portion of real estate that generates dividends
Foreigners Can Own Land in the Philippines
As a rule, foreigners cannot own land in the Philippines. But, that's the general rule. There are, in fact, recognized exceptions on when foreigners can own land in the Philippines. Acquisition before the 1935 Constitution Prior to the 1935 Constitution, there was actually no law prohibiting foreigners from owning lands in the Philippines. In fact, the Land Registration Act of 1902 - the landmark American legislation that provided for a comprehensive registration of land titles
Title to Land by an Alien who Subsequently Becomes Filipino or Transfers It to a Filipino is Valid
"...the ban on aliens is intended to preserve the nation’s land for future generations of Filipinos, that aim is achieved by making lawful the acquisition of real estate by aliens who became Filipino citizens by naturalization or those transfers made by aliens to Filipino citizens." Wilhelm, an Austrian, fell in love with Antonietta, her Filipina English tutor. They eventually bought a house and lots, in which both of them were designated as buyers. When they
Action by Subdivision Owner Against a Lot Buyer Involving Their Contract to Sell Lies with the Regular Courts, and Not HLURB
After Spouses Villar defaulted in their payment of their monthly amortizations for the property they purchased from Pilar Development Corporation (PDC), PDC sent them a Notice of Cancellation and filed an ejectment suit with the Metropolitan Trial Court (MeTC). The MeTC ruled in favor of PDC, but, on appeal, the Regional Trial Court (RTC) reversed and set aside the MeTC ruling because of the MeTC's alleged lack of jurisdiction. In other words, the MeTC was
PH Real Estate Stronger in 2020
In its recent report, Morgan Stanley Research (MSR) of the United States announced that real estate developers see a 10% year-on-year sales growth in 2019 and 2020 following the GDP growth of the country. In December 2019, the Central Bank of the Philippines released home price indexes for the third quarter of 2019, showing that condominium prices rose 29.1% year-on-year starting in 2016. Meanwhile, with the construction of real estate and the development of large-scale
Beware of Online Scammers
A post about someone offering legal services for annulment cases is making rounds in the FB universe. The person asked how much it takes to get an annulment and "Anna online assistance" went on explaining the "process", fees, and "requarmence". Anna online assistance explained that all she needed was an authorization letter for the "cenomat" (sic: CENOMAR) and marriage contract, valid ID, and a copy of the marriage contract and voila, you can surely get
Section 4, Rule 74 May Be A Ground to Suspend Payment
An annotation made pursuant to Section 4, Rule 74 of the Rules of Court (Rules) on a certificate of title covering real property is an encumbrance on the property and may be a ground for the buyer to suspend payment. This was the Supreme Court's ruling in Tan v. Benolirao. Spouses Benolirao and the Spouses Taningco were the co-owners of a parcel of land in Tagaytay City. In October 1992, they executed a Deed of
Getting Your Certificate Authorizing Registration Should Only Take Five Days
If you have experienced transferring certificates of land title before, you probably have been told to wait seven, 10, or, in some cases, even 30 days to come back for you Certificate Authorizing Registration ("CAR"). [If you haven't, the CAR is a very important document issued by the BIR to confirm that you or the taxpayer that you represent has already paid liable for the taxes due on the transfer.] It's frustrating, right? But, did
Real Estate Service Act of the Philippines
REPUBLIC ACT No. 9646 June 29, 2009 AN ACT REGULATING THE PRACTICE OF REAL ESTATE SERVICE IN THE PHILIPPINES, CREATING FOR THE PURPOSE A PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE, APPROPRIATING FUNDS THEREFOR AND FOR OTHER PURPOSES Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:: ARTICLE ITITLE, DECLARATION OF POLICY AND DEFINITION OF TERMS Section 1. Title. - This Act shall be