Buying Condominiums in the Philippines

[Jonathon Nila]

What’s up BP Community! So I was reading articles online and discovered that the market is really strong in the Philippines and demand for real estate condominiums. The country is booming thanks to BPO firms, technology companies, and flexible space operators. After reading this I noticed there currency’s are different than US. In your opinions is the Philippines something to look into and pursue as far as a Real estate investment me being in the US? I’m curious to hear the feedback, thank you all in advance! 

[Caroline C.]

@Jonathon Nila of course it depends on your personal needs and goals - we looked into it and decided not to, invested in Costa Rica instead. Political climate not the best, currency not necessarily reliable (fluctuates quite a bit over time), concerned about over-development, and for us we'd be doing short term rental when not using the condo ourselves, and the nightly rates are on the low side so might not be worth it once you factor in the expense. Also, one of the things we learned when we were over there looking at places is that you must also open a local bank account to transact business.