Buy property in the Philippines [2025 Guide]
Buying property in the Philippines is possible for foreigners, and for non-resident Filipinos living in Canada. Buying a place in the Philippines could be a good investment, or you may want to buy a vacation place or somewhere to live yourself, now, or in the future. All in all there are many good reasons to buy property in the Philippines - and the good news is that you're legally able to buy a home in the Philippines from Canada, subject to a few rules.
This guide covers all you need to start your research. And because buying a property is always a big investment, we'll also touch on providers like Wise and OFX as good options to make cheap, fast and safe international transfers which could cut your costs when you buy.
Key points: Buying property in the Philippines as a foreigner
Foreigners can not own land in the Philippines, but can buy a condo or home, subject to complying with certain rules
You can only buy a condo in a unit with 60% or more Filipino ownership if you're a foreigner, and landed homes can only be bought through a lease agreement with a Filipino owner
Property prices in the Philippines can vary a lot - getting a great realtor on side before you buy is crucial
Consider using a specialist to send your money to the Philippines for your purchase, such as Wise which uses the mid-market exchange rate and offers low cost, high-value transfers with discounts of up to 0.17% on fee costs, or OFX which has no transfer fee and no maximum payment limit
| FAQs | Answers |
|---|---|
| Can I buy property in the Philippines as a Canadian without being a resident? | Yes. You can buy property in the Philippines but there are rules you'll need to comply with if you're not a Filipino citizen. |
| Can I live in the Philippines permanently if I buy a property? | You can't get automatic residence rights by buying a property in the Philippines. Instead, look at a visa route like the Special Investor Resident Visa (SIRV) program. |
| What is the cheapest way to transfer money from Canada to the Philippines? | Consider using a specialist to send your money to the Philippines such as Wise which uses the mid-market exchange rate, or OFX which has no transfer fee and no maximum payment limit |
| How much tax do you pay on buying a property in the Philippines? | The tax you pay can vary according to factors like your residence, nationality and the property's value. Get legal advice to ensure you understand the rules based on your specific purchase. |
Can Canadian citizens and residents buy property in the Philippines?
If you're a Filipino living in Canada, then you're free to buy property in the Philippines with no additional restrictions to worry about. However, if you're a foreigner buying in the Philippines, there are a few important rules to know.
Firstly, you can not own land in the Philippines as a foreigner.
However, you can still buy a residence, in the following key ways:
Buy a condo unit - the condo's owners must be at least 60% Filipino for a foreigner to buy
Buy a house through a Filipino landowner - you can lease the home from the landowner, usually for a period of 50 years
Buy through a company - if you have a stake in a company which is 60% or more owned by Filipinos you can buy property this way
Buy by marriage - if you're married to a Filipino you can buy property this way, although you'll still not be able to own the land as a foreigner
Because the rules for buying property in the Philippines as a foreigner can be a bit complicated, you'll definitely need local legal support to make sure you can navigate the process hassle free.
What are the requirements to buy a house in the Philippines?
If you're a foreigner buying a property in the Philippines you'll need to comply with the rules we've touched on above, and also make sure you have the following paperwork:
Your passport with proof of entry into the Philippines
Alien certification of registration if you live in the Philippines.
Proof of funds to show you have the money for the property, and that it has been legally obtained
A Philippine tax identification number
If you're buying by marriage, you will need a marriage certificate as proof before your name can be added to the purchase documents.
How to buy a home in the Philippines step by step
The exact process you follow to buy a property in the Philippines can vary based on whether or not you're a Filipino citizen, and if you're a foreigner, which type of property you want. Get local legal support in the Philippines to make sure the whole process goes without a hitch.
To give a flavor here's how to buy a home in the Philippines step by step for a foreigner or a non-resident:
1. Engage a realtor to help you find a home and act on your behalf during the purchase
If you're unfamiliar with the process of buying real estate in the Philippines, a great realtor is essential. Even if you're a Filipino citizen and familiar with the process, if you're living in Canada, using a local realtor will make your purchase far easier to manage. They'll be able to help lead negotiations and manage the transaction so you can continue with the purchase from a distance.
2. Find the right home and negotiate a sale price
Property searches are likely to start online - we'll have some good agents to look at, a little later. Once you've got an idea of where you want to buy, you can make in person visits supported by your realtor. Then when you've spotted the right place for you, it's time to negotiate a sales price.
3. Agree and sign a Sales Purchase Agreement and pay your deposit
Your realtor can help draw up an agreement which covers the price and other important transaction information. You'll then need to pay a deposit which is likely to be 10% to 30% of the purchase cost, to secure the property.
4. Complete all due diligence checks
Your legal support team can help you decide which due diligence checks are needed based on the type and age of property. You'll also be able to use this time to finalise any last paperwork which is needed.
5. Complete and pay the remaining funds
Once everything is in order you can complete the purchase and pay the outstanding amount to the seller, your lawyer and the tax department. You'll be given a notarised Deed of Absolute Sale which demonstrates you're the new owner of the home.
How much does it cost to buy property in the Philippines?
There's an enormous mixture of different property types in the Philippines - which comes with an enormous mix of price tags. Buying a larger property or villa will normally be more expensive than an apartment or condo which is on the smaller size. Location is then the key determinant factor.
Naturally a luxury home in Metro Manila will cost more than a more down to earth property in a less in demand location. Shopping around will be crucial to find a place which fits your needs - and your budget.
Once you've found the right property, you'll also need to take into account a few extra costs, which can include:
Documentary stamp tax - this can be around 1.5% of the property cost
Transfer tax - this can be around 0.75% of the property cost
Title registration - this can be around 0.35% of the property cost
In addition to property costs, international transfer fees and marked up exchange rates can also contribute to costs when you're making an overseas property purchase. Non bank providers like Wise and OFX offer cheap, fast and secure international transfers. Take a look at these providers compared to your bank - to see if you can cut out a few fees here to bring down your overall cost. Wise offers an automatic discount for higher transfers and OFX can offer competitive rates for large transfers as well. Here's a summary:
Wise: Wise uses the mid-market exchange rate and offers low cost, high-value transfers with discounts of up to 0.17% on fee costs. Transfers are typically completed within 1–2 business days. More information on Wise large amount transfers.
OFX: OFX doesn't have maximum transfer limits meaning you can send as much currency as you need to, making them a good option for substantial property transactions.
Cheapest places to buy property in the Philippines
The costs of real estate in the Philippines are changing all the time depending on demand. Generally if you're interested in the cheapest places to buy property you'll be best off sticking with smaller cities and towns - or, if you need to buy in a large city like Manila, looking outside of the center for a bargain.
For places on the islands and by the coast, Cebu comes up frequently as a place which offers a good mix of cheaper property prices and a stable expat community with some beautiful beach areas to enjoy.
Best ways to transfer money to the Philippines to buy property from Canada
If you're transferring money to the Philippines to buy property, you may find that you can save money on fees if you use a specialist international money transfer service instead of your bank.
There are many services available which can offer low costs and high transfer limits, which can make them convenient and quick solutions for transferring money to buy property in the Philippines.
Here are a few options to consider:
| Provider | Limits | Fees | Exchange rate | Speed |
|---|---|---|---|---|
| Wise | Varied limits, usually up to 1.5 million CAD per transfer | From 0.48 | Mid-market rate | 45% of transfer arrive instantly, 90% in 24 hours* |
| Xe Money Transfer | 560,000 CAD per transfer | Variable fee depending on destination | Exchange rate includes a markup | Variable depending on destination and payment method |
| OFX | No limit per transfer | No fee for high value payments | Exchange rate includes a markup | Variable - usually 1 - 2 days |
| TorFX | No limit per transfer | No fee | Exchange rate includes a markup | Variable - usually 1 - 2 days |
Details correct at time of writing -27th January 2025
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
Here's a quick summary of the providers we've selected here:
Wise review: Wise payments can be sent online or in the Wise app, and offer discounts on fees for higher value payments. You'll be able to fund your transfer from your bank or with a card, and the money could be deposited into a bank account in the Philippines quickly and using the mid-market rate with a low, transparent fee.
Xe Money Transfer review: Xe is part of one of the largest money transfer companies globally, and offers payments online and in app, to many countries including the US. Xe uses variable fees and an exchange rate which has a small markup added. You can sign up for an account to view the fees which apply based on different payment methods, and to compare the rate you're quoted against those from other providers.
OFX review: OFX is a global provider of international payments and currency risk management services. There are no transfer fees for high value payments and there's no maximum payment limit, making this a good option for high value transfers such as buying a home. The OFX exchange rate has a small markup added. OFX has a 24/7 phone service if you want to arrange your payment by phone instead of online.
TorFX review: TorFX doesn't have a transfer fee, but uses an exchange rate which has a small markup added. You can arrange your payment online, in app or by phone, and pay using your bank. TorFX has a very strong reputation for customer service, and the strongest possible credit rating which shows they're a legit company to use.
Is it a good idea to buy a house as an investment in the Philippines?
You should take professional advice before you buy a property as an investment - in the Philippines or anywhere else. Property values do change, and the value of your place may go down as well as up. While the market in the Philippines has seen steady growth in places over the past few years, this can't be guaranteed by anyone in future.
If growing your investment is the key priority for you, make sure you cut out all unnecessary costs when buying your property in the Philippines by using a money transfer service like Wise or OFX.
Pros and cons of buying property in the Philippines
| Pros of buying property in the Philippines | Cons of buying property in the Philippines |
|---|---|
✅ Large range of property types and prices ✅ Desirable place to live and work - with quite low costs of living ✅ Non-resident buyers can own condos relatively easily ✅ Property in the Philippines has enjoyed steady price growth in recent years | ❌ Foreigners can not own land in the Philippines ❌ Foreigners can only own a condo if 60% or more of the other units are locally owned ❌ You'll incur additional legal and agent fees in most cases ❌ There is a risk that your property will lose value if markets are volatile |
Financing a property purchase in the Philippines
How you pay for your new home in the Philippines will depend on a number of factors. Of course you could pay with cash if you have savings - or you may want to take a loan in Canada or in the Philippines. Eligibility here depends a lot on your residency, nationality and your credit score. If you're Canadian you may be able to get a mortgage in the Philippines if you live there and hold a longer term visa, but if you're not a resident this may be more of a struggle. If you're Filipino you may have more luck getting a loan in the Philippines from Canada as you'll have more local connections and credit history to show the lendeer.
Buying a property in the Philippines with cash
As we've mentioned, if you have the savings you could buy a property in the Philippines outright, and avoid interest and other costs associated with taking a loan. However, if you're paying using international transfers, bear in mind that moving money from CAD to PHP can be extremely expensive with a bank. Consider using an alternative like Wise instead for a seamless and cheap transfer to the Philippines.
How much down payment do you need to buy a house in the Philippines?
The down payment required can be negotiated, but amounts from 10% to 30% of the purchase price are normal.
Paying property tax in the Philippines
Property tax in the Philippines is usually paid annually, and runs to 1% or 2% of the property value, depending on the location. If you're unsure what to pay, or how to pay it, take local advice as soon as you can.
Factors affecting the house prices
The primary factors affecting property prices are location and property type. Other factors include government policies, supply and demand, and in the case of buyers from overseas, the relative strength of the currency.
What's the property market like in the Philippines?
Overall the property market in the Philippines has seen reasonable growth over the past few years. However, growth can vary a lot depending on the area you're looking at, and the type of property. As economic and social changes filter through, the demand for different locations and property types can push up costs - or mean declines in other areas.
Post pandemic, for example, many people are looking for larger places for home working, with less emphasis on the location being close to a city center. There's no way to predict the future of house prices - the market will move based on supply and demand, as well as external forces such as government rules and currency costs. Keep an eye on emerging trends to inform your decisions.
Cheapest ways to pay for a property in the Philippines
Assuming you'll be paying for your new property in the Philippines from Canada, you'll need to figure out the best way to move your money to avoid excessive costs. This will mean looking for a provider which offers low fees and a great exchange rate.
When sending a high amount of money overseas, the exchange rate is especially important. If the provider you use adds a markup to the rate used to convert your CAD to PHP, this can add up quickly for higher value transfers. If you're sending 250,000 CAD for example, and the provider uses a 3% markup, this means paying an additional 3% for the transfer - a huge 7,500 CAD. That's likely to be far more than the transfer fee, but you may ever even know you're paying it.
Not all providers use this approach. Wise uses the mid-market exchange rate and offers low cost, high-value transfers with discounts of up to 0.17% on fee costs.
Here's a summary of international transfer fees and rates for the providers we looked at earlier:
| Provider | Fees | Exchange rate |
|---|---|---|
| Wise | From 0.48 Discounts of up to 0.17% on fees for high value transfers | Mid-market rate |
| Xe Money Transfer | Variable fee depending on destination | Exchange rate includes a markup |
| OFX | No fee for high value payments | Exchange rate includes a markup |
| TorFX | No fee | Exchange rate includes a markup |
*Details correct at time of writing -27th January 2025
Another smart option is to open a multi-currency account with a provider like Wise, which lets you hold and send both CAD and PHP from the same account.
You can open a Wise account online or in the Wise app, and use it to manage currency exchange and payments to the Philippines and around the world. You'll also be able to get a Wise debit card for easy spending and withdrawals and there's no fee to spend a currency you hold in your account.
Can I live in the Philippines permanently if I buy a property?
Owning a property in the Philippines does not automatically entitle you to a resident visa or permit. You'll need to apply for the right type of visa depending on your activities in the country and how long you expect to stay.
Tips for foreigners to buy property in the Philippines
Here are a few final thoughts on buying a property in the Philippines as a foreigner non-resident:
Foreigners can not buy land, and additional rules are in place about what property can be foreign owned
Buying a property in the Philippines will not give you a visa automatically
Property prices vary enormously - having a local realtor on side can be the best way to learn about the options in the area you're interested in
When sending money to the Philippines for your purchase, check out and compare a few different money transfer services like Wise and OFX, to make sure you get the best available deal
How to find a property in the Philippines
You'll want to start your search for properties in the Philippines using online platforms, real estate agents, and local listings. Umbrella websites like those we'll cover in a moment are a great place to get a feel for the property prices and options on different places in the Philippines. You can filter based on price, features and location in many cases, to narrow down your search to places which may be of specific interest.
Should you rent or buy a house in the Philippines?
If you're moving to the Philippines, the decision to buy or rent may simply come down to your long term plans. If you're planning on staying a long time - or want to buy now as an investment - buying could be tempting. But renting is also a good option if you're testing the market or don't have the funds right now to buy.
Property websites in the Philippines
Using an umbrella website is a good way to start your search for a property in the Philippines. Different sites have their own niches, but there are options specialising in expat and foreign buyers which can be a good pick. Here are a few you may want to consider to jump start your search:
Conclusion
Buying a new home in the Philippines from Canada is perfectly possible, but you'll need to be mindful of a few rules if you're not a Filipino citizen.
Foreign buyers in the Philippines can not own land, and can only buy a condo if 60% or more of the units are locally owned. However there are ways to own a property through leasing from a Filipino landowner, which means that you should have an excellent choice of places to pick from depending on your needs.
This guide gives you some resources to start your search for a new home in the Philippines. Before you make any payments from CAD to PHP, be sure to look at providers like Wise and OFX which can be helpful when buying property abroad, with fast, cheap and secure international transfers, with good exchange rates.
FAQs on buying Property in the Philippines
Can Canadian citizens buy property in the Philippines?
Yes. However, foreign buyers in the Philippines can not own land, and can only buy a condo if 60% or more of the units are locally owned.
How much deposit do you need to buy a property in the Philippines?
The down payment required to buy a property in the Philippines can be negotiated, but amounts from 10% to 30% of the purchase price are normal.
Is the Philippines a good country to buy property?
The Philippines is a popular place to buy property from Canada, to live, work, study, retire or vacation. Property can also be an investment used for rentals. Take professional advice before you decide to invest, and get a team on side including a local realtor and lawyer to ensure your property purchase goes through hassle free.