Are you on the lookout for real estate properties in the Philippines? Are you an investor or an aspiring homeowner and would want to purchase a property in the Philippines, and don’t know where to begin?

With the current run with the property market in the Philippines, things have gotten a bit more exciting for investors, commercial leases, or aspiring homeowners. However, finding the property that fits your needs, goals, and budget can be a bit overwhelming – especially if you’re a first timer.

In this blog, we’ll walk you through four tips in finding the right property in the Philippines that you can call home. Whether you’re buying in bustling metro areas like Cebu or Davao or considering quieter spots like Cagayan de Oro, these insights will streamline your property search and save you from potential headaches.

Steps on How to Find Properties in the Philippines

Narrow Down Your Preferred Location

Before anything else, you need to decide where in the Philippines you want to invest. Real estate properties in the Philippines vary significantly in price and value depending on the location. Are you looking for a house in a quiet subdivision, a condo in the city, or a lot for a future development project?

Start by asking yourself these questions:

• Do you have a specific city or province in mind?
• Are you prioritizing accessibility to work, schools, or commercial areas?
• Are you looking for a property in a bustling urban center like Metro Manila or a more laid-back city like Davao or Cebu?

Zeta Tip: If you’re investing in cities like Cagayan de Oro, decide whether you prefer the Uptown area (which is more residential and peaceful) or the downtown area (closer to businesses and commercial spaces). Identifying the exact location early on will save you time and help you focus your search.

Work with a Licensed Real Estate Agent

One of the biggest mistakes many buyers make is thinking they can handle the entire process themselves or rely solely on recommendations from friends. The reality is that navigating the complexities of buying real estate properties in the Philippines requires expertise.

Here’s why you should find a licensed and experienced real estate agent:

• Local Market Knowledge: Real estate is hyper-local. Agents familiar with the specific city or region can give you better insights into market trends, pricing, and the best deals. For instance, an agent based in Cebu would know which areas are currently hot for investment and which ones are expected to appreciate in value.
• Due Diligence: A reliable agent will ensure that the property you’re eyeing is priced fairly, has no legal issues, and meets your requirements. They can also help with the often confusing paperwork and tax computations.
• Trust and Credibility: Make sure your agent is licensed by checking their Professional Regulation Commission (PRC) ID. Also, prioritize agents with years of full-time experience over part-timers or unlicensed brokers. Just as you would trust only a licensed doctor with your health, entrust your property search to a skilled and certified real estate agent.

A Tip to Remember: Real estate in the Philippines is a long-term investment, so choose an agent who will be around for years to come—not someone who treats it as a sideline.

Specify Your Property Requirements

Knowing exactly what you want will make the property search much easier. Many buyers start their search without clear requirements, which can lead to frustration and wasted time. To find a property in the Philippines that suits you, list down your specific needs:

Considerations:

• Lot area and floor area: Do you need a big yard, or are you okay with a smaller lot?
• Number of bedrooms: How many bedrooms and bathrooms are you looking for?
• Budget: Establish your maximum budget early on. Be aware of additional costs like taxes, transfer fees, and broker fees.
• Financing options: Decide whether you will pay in cash, through bank financing, or via a deferred cash scheme. Keep in mind that banks typically finance only up to 80% of the appraised value, so you’ll need to cover the remaining equity.

If you’re not in a rush, consider pre-selling properties, which allow you to pay for the unit in installments before it’s fully constructed. However, if you need immediate occupancy, Ready-for-Occupancy (RFO) units might be the better option as they are already completed and available for move-in.

Pro tip: Your agent can help you narrow down listings based on your requirements and even provide video walkthroughs or virtual tours of properties, especially if you’re based abroad or have a busy schedule.

Screen Developers Thoroughly

Finally, the developer behind the project is just as important as the property itself. A beautiful design concept or a prime location can turn into a nightmare if the developer lacks the experience or capability to deliver what they promise.

How to Screen Developers:

• Track Record: Check how long the developer has been in business and the number of completed projects they have under their belt. Look for developers with a solid reputation and a proven history of delivering projects on time.
• Leadership and Expertise: Research the company’s leaders and their background in real estate. Do they have a solid team with the right experience?
• Buyer Feedback: Ask around or look for online reviews from previous buyers. Their experiences can provide insight into the quality of construction, customer service, and whether the developer honors their commitments.

Investing in a property is a big financial commitment, so it’s crucial to partner with developers who are reliable. For first-time developers, evaluate their leaders’ prior experience in the industry to gauge their ability to deliver on promises

Conclusion

Buying a property is an exciting journey, but it comes with challenges—especially if you’re unfamiliar with the real estate landscape in the Philippines. By narrowing down your location, working with a skilled agent, specifying your property needs, and screening developers, you can make the process smoother and more rewarding.

Are you ready to find your dream real estate property in the Philippines? Contact us today for expert advice and exclusive listings! Don’t forget to subscribe to our newsletter for updates on the latest real estate trends and listings across the country.