Buying-Owning-Renting Property in Cebu

[Wicked Roger]

Any of the areas WR suggested are good and you may want to consider the Mango / Fuentes Circle area. Look up the condo's location on Google Maps and see if it's close to one of the major streets; if it's too far off from one of them I'd reconsider. With a few exceptions the average taxi driver (and most of the girls) will not know the condo by name, so you'll have to find a landmark nearby to direct them too. And by landmark I mean anything from a shopping mall to a hotel (preferably one of the bigger well known ones).

Unless she's already known to me or I've pre-screened the girl via C2 see, then personally I'd meet the girl in a public place; even if it's in front of a hotel that's near my condo. I then at least have the option of sending her on her way (with taxi fare of course) if it turns out that she is not the girl in the pics from what ever website I've met her on or if she shows up with a group of friends / family.

Disclaimer for the boards' "English Nazi's": Sorry for any spelling / grammar mistakes, English is not my native language.

I did look at airbnb as well but the prices there are crazy. Some condo owners need to get a dose of reality before I use that web site for condos (for example PHP 50 k a month for a room, some asking PHP 300 k for their condo monthly) So the others I mentioned (lamudi, sulit etc) have a closer touch to the market.

As Pip says need a landmark for the visitor. When PJ visits he has to ask me for a landmark (due to age and dementia) each time so best follow his advice LOL.

Also, if you don't C2 C and it happens to be a LB who turns up. Your fault as you did not C2 C first. If a chubby then up to you LOL (my Arab mates can't understand why I don't like cubbies!

Pip. As for the "English Nazi's" it should be "English Nazis" LOL but you are forgiven as English is not your first language LOL.

[Pip Jaeger]

Since I fish almost 100% from badoo and tagged an since now I want girls come directly to my place where I wait for them to pay for their taxi, by a good area I mean an area not to difficult to reach and known by everybody.

Any of the areas WR suggested are good and you may want to consider the Mango / Fuentes Circle area. Look up the condo's location on Google Maps and see if it's close to one of the major streets; if it's too far off from one of them I'd reconsider. With a few exceptions the average taxi driver (and most of the girls) will not know the condo by name, so you'll have to find a landmark nearby to direct them too. And by landmark I mean anything from a shopping mall to a hotel (preferably one of the bigger well known ones).

Unless she's already known to me or I've pre-screened the girl via C2 see, then personally I'd meet the girl in a public place; even if it's in front of a hotel that's near my condo. I then at least have the option of sending her on her way (with taxi fare of course) if it turns out that she is not the girl in the pics from what ever website I've met her on or if she shows up with a group of friends / family.

Disclaimer for the boards' "English Nazi's": Sorry for any spelling / grammar mistakes, English is not my native language.

[Sebans]

Many will want a minimum of 3-6 months.

Try the websites for lamudi, sulit as there are plenty there (RK posted a link a while ago). Also Strawberry Residences are OK near Castle Peak hotel and Pip J was staying elsewhere for 2 months near that place but due to age I can't remember the name. PJ can you help.

The Colon area is cheap but not for me, Labangon is also cheap but south of the city. The areas near Ayala are popular but expensive as you are near the malls etc.

Maybe you can find a house for rent but the 2 months time frame could restrict that idea.

Personally I like in and around Ayala, Banilad, Banawa, Mabolo. The hills (Nivel) is Ok but sometime traffic is horrendous.

Since I fish almost 100% from badoo and tagged an since now I want girls come directly to my place where I wait for them to pay for their taxi, by a good area I mean an area not to difficult to reach and known by everybody.

[Pip Jaeger]

does anybody can indicate me a furnished apartment to rent (around 24.000 pesos per month) in a good area?

which is the best area to stay for our hobby in cebu, anyway?

in addition to what wr and sa have written, you also need to factor in utilities to your budget as the majority of the places for rent will have a separate sub-meter for electricity and water (a few may include water as it's not too expensive there), plus you may have to pay extra for cable tv and / or wifi; roughly 4 k should be adequate. it really depends on size, layout (1-2 br vs. studio) and how much you use the air-con as that would be the biggest consumer of electricity. one place i rented, a 2 br, was about 95 sqm and electric alone cost me over 4,500 k (that was with moderate use of the air-con as unfortunately with the windows open there was no cross ventilation due to the layout).

many apartments will not include a safe (safety box), but many do have a lockable closet or drawer (you can often see if it does in the photos posted). so if having a secure place for your valuables is important then be sure to ask what's available. otherwise you'll have to rely on locking your things up in your suitcase.

also, take note that many of the studios are quite small so pay attention to the square meter spec posted in the respective ad; an average hotel room is about 23 sqm, so when you see a studio that's 18-20 sqm (a common size) you know it's going to be cramped; especially if it has a kitchenette.

furthermore, just because they say "furnished", it doesn't mean things like utensils and towels will be included; something else to ask about. even if they are included you will only get the bare minimum and probably the absolute cheapest they could find (last place i rented the forks & spoons were just a little thicker then alu foil, lol). after renting several condos in ac and cebu i now travel with my own bath towel and some smaller utensils like: bottle / can opener, pair of butter knives (most places only give you forks and spoons), small chef's knife, pairing knife, corkscrew, smallish size plastic or nylon spatula and spoon, nylon cutting mat, veg / potato peeler, bag clips, etc. you can get the cheap ones in a dollar store in the states instead of raiding your own kitchen. i even bring a handful of quart and gallon sized zip-loc freezer baggies. as i'm a coffee lover and i can't stand instant (especially that 3 in 1 crap), i also bring a small 4 cup french press coffee maker (bonjour brand makes a light weight all plastic one). btw, although i prefer my cafe du monde brand (from new orleans, la) the local coffee from the mountains in mindanao isn't too bad and it's not too expensive either.

another option you have is to rent a hotel room by the month, a few places offer monthly rates, but keep in mind you won't have a kitchenette, perhaps only a small refrigerator and maybe an electric hot water kettle. the diplomat comes to mind, which i was told is 30 k (all in) and that includes all the amenities of the hotel, even daily house keeping. the one person i know who did that stayed in a suite (i don't if it was the regular one or the 1 br type they have, forgot to ask) and the hotel had no problem with him bringing in his own micro-wave (he only stayed one month as he was looking for something longer term). the diplomat is a bit rundown, but my friend said it served his needs quite well. ymmv and this is by no means a recommendation for them.

[Stroker Ace88]

I'm planning to stay a couple of months in Cebu as an alternative to Manila. For our hobby.

Does anybody can indicate me a furnished apartment to rent (around 24.000 pesos per month) in a good area?

Which is the best area to stay for our hobby in cebu, anyway?

Thanks in advance.

Sebans,

Short term furnished rentals (under six months) are hard to find in Cebu. Most local owners prefer a one year lease with two months cash advance and one months security deposit. Even getting six months can be hard. I would suggest you read my earlier posts below about a good way to go about finding rentals once you arrive in Cebu.

IMO I think your monthly budget of 24 k php / month is a decent one and you should be able to find something. I know there are foreigner owned condos that are up for rent on airbnb. You might be able to contact them and secure a two month rental. Also check out local sites like sulit, olx, ayosdito but keep in mind that websites that advertise Cebu properties online are often inflated foreigner prices, and prices are often some what lower if you show up in person, as always YMMV.

Locals are less likely to lower the price on a rental property and less likely to make a deal and rent month to month. I know of one local who wants 40 k php / month for his unfurnished condo. I took a look at it for a friend and it had no view. I pointed that out to him and showed him the copies of other rentals in the same building that had a city view and were asking 30-35 k / month. He wouldn't move from his price. My buddy rented a unit in the building for 30 k / month that was owned by a foreigner. It has a nice view and the owner came down from 35 k to 30 k per month. The local still insists on 40 k per month and his unit has remained empty for almost a year now.

If you arrive in Cebu without a place PM me and I can send you the contact details of a place that rents monthly.

Cheers.

[Wicked Roger]

I'm planning to stay a couple of months in Cebu as an alternative to Manila. For our hobby.

Does anybody can indicate me a furnished apartment to rent (around 24.000 pesos per month) in a good area?

Which is the best area to stay for our hobby in cebu, anyway?

Thanks in advance.

Many will want a minimum of 3-6 months.

Try the websites for lamudi, sulit as there are plenty there (RK posted a link a while ago). Also Strawberry Residences are OK near Castle Peak hotel and Pip J was staying elsewhere for 2 months near that place but due to age I can't remember the name. PJ can you help.

The Colon area is cheap but not for me, Labangon is also cheap but south of the city. The areas near Ayala are popular but expensive as you are near the malls etc.

Maybe you can find a house for rent but the 2 months time frame could restrict that idea.

Personally I like in and around Ayala, Banilad, Banawa, Mabolo. The hills (Nivel) is Ok but sometime traffic is horrendous.

[Sebans]

I'm planning to stay a couple of months in Cebu as an alternative to Manila. For our hobby.

Does anybody can indicate me a furnished apartment to rent (around 24.000 pesos per month) in a good area?

Which is the best area to stay for our hobby in cebu, anyway?

Thanks in advance.

[Jbiz979]

For example in Manila (nothing in Cebu even remotely like this, more like New York State subsidized housing projects) :

http://www.fortbonifaciorent.com/the-icon

Thank You for the advice highly appreciated and I think renting for awhile is a great idea.

[MidniteRider]

I'm still quite some years away from retirement but I don't have any desire to marry or have a family. Yet, I have decided that I would like to retire in Cebu. My question is whether it is better to rent or buy a condo if you plan on being a long term resident? It seems not to be a consensus on this subject and I'm curious to hear all sides. If I decide the condo route than I want to get in before the prices are unmanageable as in Costa Rica where the high influx of expats have driven the prices to extreme heights. And yes I have been to the Philippines and I know what to expect in comparison to my western lifestyle.

For example in Manila (nothing in Cebu even remotely like this, more like New York State subsidized housing projects) :

http://www.fortbonifaciorent.com/the-icon

[MidniteRider]

I'm still quite some years away from retirement but I don't have any desire to marry or have a family. Yet, I have decided that I would like to retire in Cebu. My question is whether it is better to rent or buy a condo if you plan on being a long term resident? It seems not to be a consensus on this subject and I'm curious to hear all sides. If I decide the condo route than I want to get in before the prices are unmanageable as in Costa Rica where the high influx of expats have driven the prices to extreme heights. And yes I have been to the Philippines and I know what to expect in comparison to my western lifestyle.

Always rent first, at least 6 months in most places, in Cebu for at least a year because of their peculiar ways of governing. Condo prices apparently have nowhere to go but down, although their bubble hasn't even burst yet. A strange combo of under supply of what's needed and over the top overpricing and shoddy construction. Everything is midget sized.

You'd be best off waiting for years for condo prices to drop in Cebu. By the way, condo prices in Manila are 1/2 that of Cebu, generally. Returning Filipinos will only buy condos as residences in Manila and only try to flip them in Cebu. The small houses are not suitable for westerners, unless you're also very diminutive.

[Jbiz979]

I'm still quite some years away from retirement but I don't have any desire to marry or have a family. Yet, I have decided that I would like to retire in Cebu. My question is whether it is better to rent or buy a condo if you plan on being a long term resident? It seems not to be a consensus on this subject and I'm curious to hear all sides. If I decide the condo route than I want to get in before the prices are unmanageable as in Costa Rica where the high influx of expats have driven the prices to extreme heights. And yes I have been to the Philippines and I know what to expect in comparison to my western lifestyle.

[Stroker Ace88]

Anyone who has bought a condo or thinking about buying one in the new Horizons 101 project that has currently just started construction had better think long and hard about it.

The project will consist of two 58 story towers on Mango avenue. The building site consists of a sloping area that has a river flowing through the property. Already there has been questionable work on the site with one giant retaining wall collapse that has damaged some near by homes. No idea how they will build two massive 58 story towers on land that has a river and unstable ground. Knowing the level of craftsmanship of the Philippine construction firms and the general desire to cut corners and save some money this is a disaster waiting to happen. If this project was being built in the West there would be no problems because an army of engineers and goverment enforcement of the regulations would mean there are workers on site who would be doing concrete slump tests and making sure the project is safe and built to specifications. But this is the Philippines where everything is just good enough and people look the other way for a payoff.

Build a massive 58 story tower over a river with sub-par concrete? What's that? You want to build two 58 story towers with sub-par concrete? Sure, sounds like a safe thing to do. If the developer can't even build a simple retaining wall that stands up over a month that's not a good sign they can build a 58 story tower.

Just to put things in perspective. The Crown Regency hotel on fuente is currently the tallest free-standing structure in the Philippines outside of Manila. It tops out at 38 floors. Add on a few maintenance levels and you get a total of around 40 floors. The Taft group will build there towers almost 50 percent higher.

The project is being built under the Taft name but the Gaisano group is behind it. Anyone who has been inside a Gaisano mall can see they do not build there malls to be the biggest and best, they build it just good enough to get there money back and keep the flow of revenue coming in.

Caveat emptor.

http://www.sunstar.com.ph/cebu/local...-measures-2172

[Stroker Ace88]

I posted this originally on the Philippines "Other Areas" thread in response to a discussion there, but it would be more helpful on this thread so I will re-post it here. Please excuse the bad netiquette or multi-posting the same material, hope the benefit outweighs the faux pas.

No, not good advice IMO.

Option 1, finding a suitable partner in the Philippines in which to put land-property ownership.

I would only undergo option one if the foreigner was married to a filipina and the marriage is based on long-term love not on convenience. Forget the GF, buddy, business partner, bank manager or lawyer route as relationships in the Philippines that often seem rock solid have a way of going bad once money is involved.

Dangle a property worth several million pesos (or more) infront of a local and tell them you will draw up a non-legally binding contract and oh by the way I will just use your name on the title deed and see how long things stay solid. Just long enough for you to build a very nice house or business only to find out the person who legally owns the land-property because his name is on the title deed Has decided you no longer matter. Then has the PNP and court system remove you from said property and warns you if you return prison awaits. Ya, real good option.

Option 2, making a lease agreement with the land-property owner.

While this can be a viable option for land-property use, and some have been successful at doing this, they are the exception to the rule and many many foreigners have learned the hard way this option is not a good one.

First you have to understand that whoever claims to be the rightful owner of the land may in fact not be the real owner even if that person is paying the land taxes on the property. Record keeping in the Philippines dealing with land ownership and title deeds is a mess and often discovering who exactly owns the property is almost impossible in some situations.

That being said, the lease agreement can succeed in some instances. The lease can be up to 25 years (never 99 years) , extendable for another 25 years if BOTH PARTIES ARE AGREEABLE. In order for the lease to be binding on third parties (Heirs, buyers, etc) the lease must be annotated on the title at registrar of deeds. The lease can be drawn up in any manner agreeable to both parties. It can be made transferable, assignable, subleasable, etc, as long as it is done properly, and annotated on the title at the registrar of deeds.

The problems often occur if the person you make the lease agreement with is NOT the sole owner or sole heir to the property. Making a lease agreement with only one heir means the other siblings and-or family members can make a claim on the property at any time and that means the original lease agreement is NUL and VOID. If the owner of the property suddenly dies that means the lease agreement is in theory broken and you could find yourself on the wrong side of the gate with all your things looking in.

The law implemented in 1974 by then President Marcos is PD 471 and still applies today for issues dealing with foreigners leasing land-property.

Pitfalls are many dealing with lease agreements and using a good lawyer is paramount to success but nothing is 100 percent.

Option 3, invest in your own Philippine corporation and have the corp retain the ownership.

Again, see option one for advice on this subject. I would only undergo this option if you have met and married a filipina for love and have a long-term commitment with her. Although creating a corp to hold land-property ownership means the filipina in theory automatically has to possess 60% of said shares in the corporation. A foreigner creating a corporation must show the division of ownership in the corporation when registering the corporation. A Filipino (a) must hold atleast a 60% ownership role in the corporation for the corp to get official status. That takes you back to square one, and option one.

In the Philippines it is illegal to create a shell corporation for the purpose of land-property ownership and you open yourself up to forfeiture of the land-property if ever there is a dispute about ownership, bringing you back to option one.

If you open a legitimate business that creates 50 local jobs and you invest minimum 200k USD or if creating "advanced technologies" (IE call center jobs) the minimum investment drops to 100k USD, you get some increased foreigner ownership rights dealing with land-property. There are some additional restrictions to outright foreigner ownership that requires legal advice.

The foreign investment act of the Philippines RA 7042 and amended by act 8179 in 1996 deals with this topic.

[Stroker Ace88]

Stroker, thanks for the welcome back, I do appreciate it.

You are welcome.

Regarding the double posting, I was reacting to the statement "you reposted when you didn't immediately see your post appear". It was not my intent to dispute that a double post occured, just that I was aware of the wait involved, and thats not why it happned. However, I guess I wasnt clear about that and further more, it was wrong of me to jump to the conclusion that you were being snarky and not trying to help, and for that I apologize.

Again no biggie. My initial post to you was meant to inform and not to point out any flaws, I apologize if I seemed snarky, not my intent.

Regarding the domicile, I respectfully disagree about the 12 month lease deal. I have continually been searching for a rental situation I can be comfortable with, and every time I look at an apartment I baulk when it comes to the lease agreements I see, or the value of the place compared to the rent demanded. So, every time I've decided I'm better of staying in hotels than renting an apartment.

Yes I agree the rental situation in CC is a difficult one. Many places are run-down and lack the basics that many Westerners are looking for such as being; relatively quiet, secure with guard-gates and or high walls, decently priced that have somewhat newer construction, and a landlord and lease agreements that seem fair. Biggest issue IMO is with neighbors and landlords that keep to themselves and not get involved in your life if they see a parade of young women come and go.

While the rental situation is a difficult one there are some places out there that meet expectations, you just have to get out and search ALOT. I have visited a few places in CC where some guys had the ideal setup. Lucky guys indeed. My advice is to pick an area of CC that best matches your lifestyle and walk the streets in that area again and again. Learn the streets and look for small signs that advertise a place for rent. Take a picture of the sign and another of the building and write down the directions to the place so you can find it again and text the number to see if the details match what you are looking for. You might have to visit dozens and dozens of places and spend large amounts of time to find a suitable place but they do exist.

Probably what I'll do is buy a condo in a couple years, or if I decide to marry my gf and get citizenship here, I'll build something in a nearby town. That said, I'm spending most of my time here and, as they say, home is where the heart is. So for me, at this time, cebu is my home.

You can buy a condo or a condo certified town house and put it in your name without having to add a filipina to the title deed. As others have posted forget citizenship.

[Red Kilt]

I suppose the only reason is for property ownwership (other than multi-unit properties) , and also certain banking considertions, the only drawback there being that if things don't work out anything I would own here would revert to my "wife." That's why I'm not exactly jumping to do that.

But I do take your point regarding the Permanent Visa, certainly something I should consider. Thank you.

I don't quite understand your "fear" about anything reverting to your wife unless you are expecting your relationship to fail and she has part-ownership. If you are worried about what happens if you die then you need a will.

I have 2 wills. One (an Australian will under Australian law) provides for everything invested or held in Australia to go to my kids in Australia.

The other (a Philippines will made under Philippines law) provides for everything invested or held in Philippines to go to my wife.

Both parties know this and understand it and accept it. My task is to ensure that in the event of my demise the distribution occurs according to my wishes. I am assured by both legal jurisdictions that my wills are "tight" and clear.

If you don't want your "wife" to get hold of anything then don't allow her name on any deeds of sale. Make sure you have a proper will drawn up. If you want any property to go to someone outside the country, then you need good legal advice about that. If you are legally married then it is hard to see how she will not be the one to get it.