FAQ
How much is the usual down payment when buying a condo in the Philippines?
Most developers require a 10% to 20% down payment, payable over several months before turnover. For resale properties, the terms depend on the seller or your bank’s requirements.
Is Renting or Buying Better?
It depends on your goals. Buying is ideal if you plan to stay long-term or want to build equity. Renting offers flexibility if you expect career or life changes within the next few years.
What taxes or fees should I expect when buying a property?
Buyers should budget around 3–4% of the selling price for closing costs, which typically include documentary stamp tax, transfer tax, registration, and notarial fees.
How do I know if a property is a good investment?
Location, developer reputation, accessibility, and rental demand are top factors. For condos, consider resale potential and amenities; for houses, lot size and nearby developments are important indicators.
How can I increase my property’s resale value?
Keep the property well-maintained and bright. Neutral interiors, upgraded lighting, and functional layouts help listings photograph better and sell faster. There are a few key things every seller should do before listing and they can make all the difference.
Can foreigners buy property in the Philippines?
Foreigners can own condominium units but not land. To purchase a house and lot, they may do so through a long-term lease or a corporation that’s at least 60% Filipino-owned.
Do I need to pay a broker’s fee when buying OR RENTING?
No. In most cases, the developer, seller, or landlord pays the broker’s commission, not the buyer or tenant.
What documents should I check before buying a property?
Verify the Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), the latest Tax Declaration, and ensure there are no liens or encumbrances. It’s best to have a professional broker or lawyer handle due diligence.
Are property prices negotiable??
Yes. Sellers usually expect reasonable offers, especially for resale properties. A skilled broker can help you negotiate based on current market trends.
Can I WORK WITH RARE?
Absolutely. If you’d like to list your property, send us your property details through this [form ↗]. We specialize in well-maintained houses and condos in prime Metro Manila and South locations. For help buying or renting, feel free to reach out via our contact page.