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Lawmaker Urges For Reforms To Foreign Land Ownership In The Philippines


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MickyG

i think there should be a minimum  price for foreigners to buy so  that low end of the ladder locals are not priced out plus the foreigner should be a permanent resident.  new zealand have something similar

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So...It is important that foreigners only own land to their disadvantage? Cool.   

Strictly for investment. There are thousands of investment schemes where people purchase properties purely for rental returns and resale. Investors own real estate in places they can never even get a

Yeah it should read  

govoner
2 hours ago, MickyG said:

i think there should be a minimum  price for foreigners to buy so  that low end of the ladder locals are not priced out plus the foreigner should be a permanent resident.  new zealand have something similar

The housing market in New Zealand is a disaster for young first time buyers ,due in a big part to unbridled immigration from Asia and else where . People wanting to get cash out of china have been buying sight unseen through family already in NZ and just leaving the houses empty (ghost houses). even in the last year under a pandemic prices have risen 20%.   i admire the philippine govt keeping the land for the locals, with China being so close land prices would prob jump ten fold , great if you own multiple properties,sad for the locals trying to get on the ladder.

The housing price escalation problem will create big problems in Nz in the future with a large group of young families being cut out of home ownership and the social issues that go with that.

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Edwin

I want my property value to go up. I hope the same for Filipino homeowners. Home equity is a major source of net worth. An open market will make Filipino homeowners wealthier and according to the PSA, 69% of Filipinos own their home and land. I believe it will benefit them. 

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Mangoshake

To avoid land speculation how about giving foreigners the opportunity to buy a maximum of one single land plot suitable for one single house into the foreigner his own name. This will boost their housing sales and increases tax revenues. This will also boost the confidence of foreign investors all together. If that’s too much asked for then make land + house purchases for foreigners in standard lease agreements of 99 years.

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MickyG

I would be very surprised if that many owned their own slippers here:blink:!!

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to_dave007
9 hours ago, govoner said:

The housing market in New Zealand is a disaster for young first time buyers ,due in a big part to unbridled immigration from Asia and else where .

Same in Canada..  Especially Vancouver..  due in large part because of offshore Asian money.

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11 hours ago, govoner said:

The housing market in New Zealand is a disaster for young first time buyers ,due in a big part to unbridled immigration from Asia and else where

That's not the only problem it causes, maybe if nations made immigration much more restricted, they could make purchasing land much more unrestricted.

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SkyMan
18 hours ago, MickyG said:

i think there should be a minimum  price for foreigners to buy so  that low end of the ladder locals are not priced out plus the foreigner should be a permanent resident.  new zealand have something similar

So, as a Filipino with some land for sale, would I sell to a foreigner for the higher foreigner price, or higher, or should I hold out for fellow countryman for a lesser price?  Because I care so much about my country.

Edited by SkyMan
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lamoe
12 hours ago, Edwin said:

I want my property value to go up. I hope the same for Filipino homeowners. Home equity is a major source of net worth. An open market will make Filipino homeowners wealthier and according to the PSA, 69% of Filipinos own their home and land. I believe it will benefit them. 

From what I've seen - most foreigners wouldn't want to live in 60% of the privately owned single family homes.

Links for verification are always appreciated to see if condos  are included.

3 hours ago, Fresh said:

That's not the only problem it causes, maybe if nations made immigration much more restricted, they could make purchasing land much more unrestricted.

No nation should allow any foreigner to own land - that should be reserved for it's own people, same as voting.

Edited by lamoe
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govoner
4 hours ago, Fresh said:

That's not the only problem it causes, maybe if nations made immigration much more restricted, they could make purchasing land much more unrestricted.

What would be the point of a foreigner owning land in a country he is restricted from living in.

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Kreole
30 minutes ago, govoner said:

What would be the point of a foreigner owning land in a country he is restricted from living in.

Good point !  Not only that, even if you did own land here, you would still be up against the massive corruption that almost always leaves the foreigners at a loss unless the foreigner has lots of money.  In my opinion it's just not worth the risk.

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RogerDuMond
On 2/20/2021 at 8:44 AM, Kreole said:

These "people" whose families have lived there for generations will be forced out to live in less desirable locations

Apparently you have never checked into removing a squatter from land. I don't know of any other country where squatters have this many rights officially given by the government. It would be financial suicide for a foreigner to purchase urban property that had squatters on it.

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Soupeod
3 hours ago, RogerDuMond said:

Apparently you have never checked into removing a squatter from land. I don't know of any other country where squatters have this many rights officially given by the government. It would be financial suicide for a foreigner to purchase urban property that had squatters on it.

Have you watched the movie “Birdshot”?   I recommend it and it shows fictionally how a situation is taken care of.

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9 hours ago, govoner said:

What would be the point of a foreigner owning land in a country he is restricted from living in.

What? No, the point is if nations restrict immigration from undesirables, they won't have to worry about restricting land ownership.

11 hours ago, lamoe said:

No nation should allow any foreigner to own land

In a perfect world, but that ship sailed a long time ago. I'd agree nations should ban foreigners from owning land if they're from a nation that restricts land-ownership.

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Edwin
12 hours ago, lamoe said:

 

Links for verification are always appreciated to see if condos  are included.

Do your own research if you are further interested. Start with a search engine.

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