Seeking Advice: Moving to the Philippines and Exploring Real Estate Options

[Rooster]

On 5/31/2024 at 2:42 AM, Felix said:

1. Budget: I have a budget of around a million PHP to work with. While I understand that prices vary depending on location and property type, I'm hoping to gain a better understanding of what my options might look like within this budget range.

2. Investment Strategy: My goal is to purchase a building that I can then rent out, whether it be as whole units, individual rooms, or bed spaces. I'm open to various property types and rental arrangements, but I'm particularly interested in understanding which option might offer the best return on investment.

 

I suggest you google building for sale Cebu and building for sale Bohol.  Your 1 Million might have been enough in the 1800's but not in 2024.  Many are being misinformed at the high, skyrocketing cost of property and cost of living.

 

[scott h]

36 minutes ago, Rooster said:

Many are being misinformed at the high, skyrocketing cost of property and cost of living.

Add to the mix that pre-pandemic, Chinese buyers (via proxy) were buying up land and buildings (at least here in my part of the Metro) and sent prices through the roof. Now sellers are asking for these same prices even though the Chinese are pretty much gone now. 

[hk blues]

20 hours ago, craftbeerlover said:

yeah you could buy some land and get something built for 1 million pesos, but the land would be pretty fricken small and the 'house' could be blown away by the big bad wolf.  Nothing like what he was thinking in the original posting.  1 million pesos really is not that much here.   Out in the middle of nowhere obviously the money goes further.  

Yep.

My SIL rents a room in one of those boarding houses which seem to be basically built of the most basic of materials.  My wife's cousin owns a similar place and it doesn't look very substantial either.  If the poster is looking for something for 1m he will certainly be able to get something but almost certainly not up to his expectations.  

What would people expect to get for $20,000? 

[craftbeerlover]

1 hour ago, hk blues said:

Yep.

My SIL rents a room in one of those boarding houses which seem to be basically built of the most basic of materials.  My wife's cousin owns a similar place and it doesn't look very substantial either.  If the poster is looking for something for 1m he will certainly be able to get something but almost certainly not up to his expectations.  

What would people expect to get for $20,000? 

Yeah, just seems like a really naive question.   But, good he asked, I am sure he now understands, 1 million isnt going to be close to enough. 

[OnMyWay]

9 hours ago, hk blues said:

Yep.

My SIL rents a room in one of those boarding houses which seem to be basically built of the most basic of materials.  My wife's cousin owns a similar place and it doesn't look very substantial either.  If the poster is looking for something for 1m he will certainly be able to get something but almost certainly not up to his expectations.  

What would people expect to get for $20,000? 

Rates have zoomed!  One Mil pesos is only about $17,000 now!

[OnMyWay]

8 hours ago, craftbeerlover said:

1 million isnt going to be close to enough. 

I'm not that familiar with Cebu land prices but I know that Bohol has skyrocketed since I first went there in 2012.  Actually, specifically Panglao.  Not sure about the main island.

We are going to Bohol next week.  We are renting 3 AirBnBs, 3 nights each.  All have a foreign owner married to a Filipina.  Many foreigners have invested and built up some nice AirBnBs.  Prices have risen, but there are still some deals due to the competition.  In the AirBnB reviews, I see that there are a lot of Koreans and some Chinese renting the nicer places.  I think there is a direct flight Pangloa to Korea now.

[craftbeerlover]

24 minutes ago, OnMyWay said:

I'm not that familiar with Cebu land prices but I know that Bohol has skyrocketed since I first went there in 2012.  Actually, specifically Panglao.  Not sure about the main island.

We are going to Bohol next week.  We are renting 3 AirBnBs, 3 nights each.  All have a foreign owner married to a Filipina.  Many foreigners have invested and built up some nice AirBnBs.  Prices have risen, but there are still some deals due to the competition.  In the AirBnB reviews, I see that there are a lot of Koreans and some Chinese renting the nicer places.  I think there is a direct flight Pangloa to Korea now.

Should be a great vacation!!!