Buying or Selling Property in the Philippines
Are you looking to buy a property in the Philippines? We have the widest range of quality listings of condos, lots, townhouses, houses, and commercial lots. You can be sure to find the information you need in your home searching journey by chatting up one of our trusted professional agents or a direct owner who has listed their real estate portfolio on Carousell Property (formerly OLX) - all these without even having to give out your personal information! If you’re selling your house, a condo in Manila, or perhaps a commercial lot for sale, Carousell Property opens more opportunities for you to be successful!
Types of Lot for Sale in the Philippines
If you're looking for a property for sale, no need to look elsewhere! Here at Carousell Property, we post 100,000 fresh listings every month! Invest your money in lots for sale to reap future benefits. Get detailed information about location, size, and land-use purposes directly from our trusted professional agents and direct landowners. What you want is to secure a lot that will appreciate in the future - your family will thank you for this! Want a beach lot, residential lot, agricultural lot, or parking lot? Apply the filters for a quicker search! At Carousell Property, finding the right lot that fits your budget and preferences is simple. Begin your property journey by chatting on your choice of listing today!
How to Buy a Lot in the Philippines
Before buying a lot, you need to ensure that the seller poses the original title for the property. This is crucial to prevent unwanted complications and legal issues after you proceed to buy the lot. There are cases where informal settlers or people who are unlawfully staying on the land attempt to impersonate the owner of the lot and sell it to another. After reaching a mutual agreement on the price of the lot with the seller, examine the deed of sale carefully and sign it in front of a notary public. The deed of sale would state if the buyer or seller is responsible for the capital gains tax and documentary stamp tax. Typically, notaries set their own fees but a normal fee is around 1% of the purchase price of the lot. Once the capital gains tax and documentary stamp tax are paid, you'll need to process the Certificate of Authorizing Registration (CAR) and Tax Clearance (TCL) at the Bureau of Internal Revenue. This could take up to months to complete if met with complications or issues. With the CAR and TCL certificates and documents on hand, you would then need to pay the transfer fee and tax at the provincial treasurer's office at the soonest possible time. Finally, with your transfer fees and taxes paid, the last step would be to bring an affidavit of publication, an affidavit as to the nationality of any owner (if not a citizen of the Philippines), and the owner's copy of the title to The Register of Deeds and you're ready to celebrate your new status as a proud owner of land in the Philippines!
Why Should You Invest in a Lot?
Investing in a piece of lot requires a lot of money. Before you spend your hard-earned money, it's best practice to conduct thorough research on the pros and cons, as well as the financial profitability from the purchase of a lot. Having a lot of your own means you have the freedom and authority to decide what you want to build on it. Do you want a house with a swimming pool, or a huge outdoor space for the children to run around? Eventually, both the house and the lot will become a valuable asset that will benefit not only you and your children, but also impact future generations. If you are a singleton or have no intentions to pass down the house and lot to other family members, you can always put it up for rent. While having a house with a pool increases the overall utility bills, people are increasingly willing to pay for comfort and won't mind paying slightly more to enjoy free access to a pool, especially during the warmer seasons. As an investor, turning the lot into residential property is one of the things that you can do with your land. However, there are many other ways that you can fully utilize the lot to generate profit, depending on the location of the land, you can consider developing it into retail establishments, farm areas, or even office spaces. At Carousell Property, these provinces are the best for lot investment: Baguio City, Clark, Subic, Tagaytay, New Clark City, Cebu, and Davao. These provinces are popular in terms of property investment thanks to their scenic locations, affordability, and huge land areas.