PROPERTY SPECIALIST:
DENNIS TINAMISAN ROSOS
UNDER LICENSE #: 0001356
In the Philippines, real estate is an area for growth. Aside from the development of high rise buildings in the Greater Manila area, nearby provinces are now seeing much land development with its continuous expansion for horizontal development projects in the nearby provinces such as Laguna, Cavite, Rizal, Bulacan, Pampanga and Batangas.
The major expansion in vertical real estate development outside Metro Manila south of the metropolis, Cebu and Iloilo in the Visayas, Cagayan de Oro and Davao in Mindanao, where medium‑to‑high rise buildings are beginning to appear.
Foreigners are generally not allowed to hold more than a 40% interest in any land, although there is an exemption for pensioners who deposit more than US$50,000 in a specified account.[5] Philippine rules distinguish between a house and the land it sits on.
Residential real estate
The legal arrangement for the right to occupy a dwelling in some countries is known as the housing tenure. Types of housing tenure include owner occupancy, tenancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, squatting, and cohousing. The occupants of a residence constitute a household.
Residences can be classified by, if, and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.
The major expansion in vertical real estate development outside Metro Manila south of the metropolis, Cebu and Iloilo in the Visayas, Cagayan de Oro and Davao in Mindanao, where medium‑to‑high rise buildings are beginning to appear.
Foreigners are generally not allowed to hold more than a 40% interest in any land, although there is an exemption for pensioners who deposit more than US$50,000 in a specified account.[5] Philippine rules distinguish between a house and the land it sits on.
Residential real estate
The legal arrangement for the right to occupy a dwelling in some countries is known as the housing tenure. Types of housing tenure include owner occupancy, tenancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, squatting, and cohousing. The occupants of a residence constitute a household.
Residences can be classified by, if, and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.
- Attached / multi-unit dwellings
- Apartment – An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.
- Multi-family house – Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.
- Terraced house (a.k.a. townhouse or rowhouse) – A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space.
- Condominium – Building or complex, similar to apartments, owned by individuals. Common grounds and common areas within the complex are owned and shared jointly. There are townhouse or rowhouse style condominiums as well.
- Cooperative (a.k.a. co-op) – A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit.
- Semi-detached dwellings
- Duplex – Two units with one shared wall.
- Single-family detached home