The Average American is Doomed... Is The Philippines a Safe Haven For Expats?

[@TheSavvyExpat]

Where do you think the future of America's economy is headed? Let's talk about it. Dorotea's Channel: www.youtube.com/@DoroteaTuzon Dorotea's Website: doroteatuzon.com/ Free BGC Guide: dedicated-inventor-8723.ck.page/c13e23082a

[@sosodave4192]

The USA is heading for another Great Depression in the next 18-24 months. The rest of the world will follow shortly.

[@JunRoss-pp3mv]

US is a developed country, a major power in economy while Pinas is undeveloped.

[@joekahno]

US inflation numbers are a blatant lie. Core inflation *excludes* the cost of food, housing, transportation and energy. So basically they're saying you're all right as long as you aren't buying any of the things you need to live. For decades the US government has been printing to cover their shortfall and keeping domestic prices low by pushing the excess money offshore. Now we're watching that reverse. The only place you actually need US dollars to cover your bills is inside the US and there is a monumental pile of them heading in that direction.

[@vmartinez71]

she might "think" that she doubled her investment on the Eastwood condo but the reality of it is it will take a miracle for her to actually be able to sell it for that amount in today's PH condo market

[@joeeng8181]

I totally agree with u. I own 2 condos in cebu city. . This lady is very very lucky. This is not a norm for sure!!!!!!!

[@joelbangayan1443]

Sana oil...

[@gigibonquin1616]

Typical newbie real estate agent. She probably bought the unit at the same price the previous owner bought it at years back, like it was a pre-selling price. Many are selling at a loss. Then, ask the developer how much a similar newly built condo cost and that's how much she priced her unit. Compute ROI with P16M and only P65t/month income.

[@rayoflight2161]

@@gigibonquin161665/mth=780t/yearly. It’ll take approximately 10 years to pay it off. Here in North America consider yourself lucky if you can pay off your mortgage in 20 years . Impossible for most. If all her numbers are true, she just landed on a gold mine. This lady knows what she’s doing.

[@rayoflight2161]

If she can rent out the unit why would she sell? Let the renters pay off her mortgage and soon she’ll be earning passive income.

[@samquinn6427]

It may have double in price but most know a used condo at this price point could take years to sell. When the next recession hits in the US and Europe, these high priced unit will decline at a high rate. Right now it is much wiser to rent a high end unit in Eastwood or BGC then to buy. My advice to any foreigner is to invest your nest egg in a risk adverse fund and uses the interest or dividends to pay your rent and daily expense.

[@TheSavvyExpat]

Rent to own is also a great option

[@sfrealestatedealmaker6001]

I agree as well and I’m in the Real Estate investment industry here in California. I think a global downturn is already in play as we speak. No country is immune to what’s happening now. Renting would be a safe and conservative way to live as A.I. is beginning to eat jobs by the thousands. BGC has a ton of call centers which A.I. will affect. No telling what’s really going to take place, but I’ve never lost money being conservative in my investments. 🤞🏼

[@sosodave4192]

Absolutely agree. Sit on the side and hoard cash for the next 18-24 months, and have your choice of Condos for 5M.

[@samquinn6427]

@@sosodave4192 As of today Warren Buffett's Berkshire Hathaway is holding a record $157 billion of liquid assets. US stock and housing markets are at all time highs. A 3-month FDIC insured bank CD is paying 5.35%. I can live with that return for now. We just rented a 1200 SF - 2 bedroom unit at Joya Lofts and Towers in Rockwell for $5000 per month through airbnb. It came with maid service and room messages for extra $20 per day. Paying $800,000 for one of these units make zero sense. It a waiting game for us.

[@TheBigBananaaa]

❇️ I was lucky to find a US/Filipino buyer on my first day I listed my condo for sale ✅ many condo’s in the Philippines 🇵🇭 have increased in value over the past 5 years or so.. but with so many condos coming to the market it’s a renters market rather than a sellers market ❇️

[@lemaitrethemonk]

Once she said that they reside in California. I knew they were leaving. I Grew up in San Diego and I would not move back to Cali, even if my income were tripled. The madness that is called politics (politicians!) has gone so completely to the left that it is not salvageable, sadly.

[@TheSavvyExpat]

It's sad what has become of Cali... Everyone I've talked to says the same thing.

[@makeyourlifeeasier5794]

Don't worry, Newsom wants to be President so he can do to America what he's done for California!

[@dumaguetedreaming]

Newsom is not the California Congress. How did he single handedly destroy Cali in what, two years?​@@makeyourlifeeasier5794

[@JunRoss-pp3mv]

@@TheSavvyExpat California Poised to Become World's 4th Biggest Economy.

[@cesardablo]

Her home value didn't double in value completely organically. Part of the reason for the seemingly large appreciation in value is that (as she mentioned), she bought from a distressed seller and offered a purchase price much less than the actual value. She said she offered an amount that could reimburse the seller for a portion of their down payment. In other words, she got a darned good deal on the original purchase price. That's how saavy real estate buyers make their money - upfront!

[@samquinn6427]

So true you make your money when purchasing. I purchased a bank owned home in Florida during the crash 10 years ago for $102,000. Value today is $379,000. When I sell, my profit will be from low purchase price 10 years ago.

[@madrugade8242]

She basically bought a foreclosure. That’s why she got that kind of return.

[@jjdelamo6246]

This lady is 100% spot on.. I own rental properties in the US and also own 2 condos in the Philippines , 1 in Makati, the other in MOA. I also am a banking executive, VP of Risk , and I own businesses in the US and now expanding in Manila. I live in Las Vegas and Makati. I used to live in San Francisco. It is a shame what the Democrats have done to SF. it is irreversible now... She's also spot on when she said keep CASH on the side so you can buy when opportunities arise. That's what I do also... good luck to all. Mabuhay!

[@TheSavvyExpat]

Right on man! Keep expanding your ventured out here. From the looks of it, the U.S is headed for an economic downturn.

[@adamapple337]

Buying on opportunity is good idea. But how do you sell? I have been reading a lot of comments that it is not easy to sell condos in Philippines.

[@adamapple337]

Buying an opportunity is a good idea. Reading from other comments, it seems to be very hard to sell condos in the Philippines. Specially, more new condos are being built by the developers. what's your strategy in selling?

[@jjdelamo6246]

I am going for cashflow via Airbnb and sometimes monthly leases. I will probably not sell them.

[@JunRoss-pp3mv]

@@adamapple337 It's very hard to sell in Pinas. You'll end up selling it at a loss. Better to invest in a developed country.

[@hardmtnbiker]

I'm not sure how many property investors are "flipping" condos or homes in PHL. This would seem to be hard to do when you consider the low demand and high vacancy for property in PHL. My wife has her family home and we have considered buying property but not as an investment but just to live peacefully.

[@JunRoss-pp3mv]

I rather invest in the US.I would rather have Dollars & convert them to Pesos rather than the other way.

[@RonaldH]

Saying it has doubled in price in 1 year is different from actually selling it now for 16M. Shows the market is overpriced right now. And if one is not careful, selling can be very difficult and one might have to sell at a heavy loss to find a buyer -- just like the person who sold her the condo. Still a good investment at 8M, and generating 70k/month income. Not sure what her maintenance costs are, but works out to about a 10% annual return on her investment... so that's a pretty good cap rate, assuming she can keep it rented. But definitely over-priced and not worth it as a rental investment at 16M.

[@hurleywilson7246]

You are absolutely correct. If someone pays 16 million for that property ($291,000), and puts $58,200 down, with a 20 year loan at 7.99%, their payment would be $1946 (107,000 pesos). As an investment, you would lose your shorts. This does not include HOA, taxes, and maintenance, not to mention lost Months of no rent. Who would be that crazy???

[@bobmuir8352]

Real estate anywhere in the world is only worth what someone is prepared to pay at time of sale, valuation is not necessarily the best guide

[@CCoburn3]

I have been considering the Philippines. And there are a LOT of plusses. The only minus is that the Philippines seems to be headed for conflict with China. Not only are there maritime problems, but China wants Taiwan. And they can't get Taiwan without destroying the ability of the US to use the Philippines as a base to oppose them. So the potential for conflict with the Chinese is the only thing that makes me nervous.

[@oscieestanislao5840]

If you think of everything that is happening nearby or around the world, then you will be stuck on wherever you are right now. Like, the war in Ukraine, China's aggression toward the neighboring countries, the earthquake that plague the Philippines, and many more.

[@TheSavvyExpat]

That's a very valid concern. Only time will tell. In my personal opinion, I think as long as the U.S is allying with the Philippines, we'll be okay.

[@CCoburn3]

@@TheSavvyExpat I hope. Though I think things are going to get so bad in the US, that being allied to us isn’t going to help anyone. Still, even with the risk of problems with China, it’s better than the certainty of what’s going to happen here.

[@t-rexs232]

If ww3 start no safe country in this world.

[@BobAround]

I really wouldn't be concerned. The stuff that is happening with China and the Philippines has been going on for a long time. US is setting up bases there and doing training exercises already. It would be very unintelligent for China to start a conflict with anyone right now. They need the world market to keep their country going or they will face famine very quickly. Plus they have a population crisis and if they loose even a small percentage of their men it will be a death sentence for their country. The news and uninformed people like to blow things out of proportion. Everyone keeps saying that they are going to try to take Taiwan but in reality they would loose badly if they attempted to.

[@siscointernational]

Gamblers will always tell you about their wins but never their losses.

[@methemonkeyking]

Really enjoyed your guest. Filipinos that want to return to the Philippines, for the mother, it’s difficult if they leave their children back in the States. 20:28 The average mother has an invisible umbilical cord that is attached to their child, and mothers think of their children multiple times a day. To leave their children thousands of miles away is very hard for the mother. My wife and I are both Filipinos, I would love to retire full time in the Philippines, we have multiple properties there, but the mother wants to be close to their children. The max for us is a couple of months at a time.

[@2Cixth]

I agree with this! I'm a 36 y/o mom and I do have plan to retire with my husband in the Philippines, given that the conditions of the motherland is still safe and affordable. I hate to think living my adult kids behind. It's a mothers love.

[@TheSavvyExpat]

Great points!

[@dumaguetedreaming]

Same with us. Our son and daughter just spent several months with their mothers family and they have no desire to stay. Mom has stopped talking about retirement in the Philippines.

[@JunRoss-pp3mv]

I left Pinas when I was 17 yrs old. I've been everywhere in Pinas & I will never retire in Pinas. Invest in the future & You'll likely to stay in a developed country & stay with your love ones. Best Medical Technology & knowledge. Easy access to almost everything. Buy the best of whatever best you like at a price that's affordable not like in Pinas, buying anything stateside is double or triple the price.

[@Ray_Warren]

The Philippine market is already overbuilt on condos and becoming massively overbuilt. The situation will be totally saturated with available units. The only exception is luxury units, which will always continue to go up unfortunately with AI coming in and so much money coming in from call centers they are what are doomed

[@sfrealestatedealmaker6001]

Ponzi scheme from the real estate developers side

[@gerarddelacruz2045]

This is spot on , Lawlessness in California is ridiculous , I live here and am about to leave and sell my house , Going back to Philippines , American dream is dead . I don’t think any Politicians can save this Country , they do not want to . They are ruining this Country in purpose , crime will only get worse and they defunded the law enfircements

[@wahoowahoo2341]

Same here . Living here in LA for 29 years . I started planning my move to The Philippines with the whole family . Its scary here and everyone hate each other here . wrf 😮

[@TheSavvyExpat]

You're spot on. Sad but true.

[@ScottieMitchell-f8y]

​@TheSavvyExpat been watching your channel a while now but don't know if you did an episode on jobs for those willing to work in philippines. I see you have a huge shortage in cybersecurity and other tech areas. Pay wouldn't be like the west but it would be good enough to live a peaceful life.

[@jonbrillo5701]

Philippines has still ways to improve . Thailand has a much better quality finished condos and is much more cheaper too . Remember , the past government were vey corrupt and impoverished the country .

[@robocop581]

I've seen so many badly maintained condos in Bangkok and Pattaya. Just awful

[@SteveAvidius]

An economic downturn in the states would probably have a similar effect in the Philippines, so I'm not sure I would call it a safe haven. Property prices in the Philippines (cities) are in the same large bubble in terms of prices to median household income, they would most certainly be affected to the downside.

[@BobAround]

Just discovered your channel. Nice content. I am also an American looking to make the jump in the next 5 or 10 years. Tired of the direction the US is going in and I want a chance at a happier life and something to work for besides material possessions.

[@davidsiemer7578]

True that San Francisco is quickly becoming a lost cause and the Philippines is improving. I plan to split my time between the USA & PH

[@lizdgb7570]

I had been watching many episodes of your YT but never commented. Just letting you kbow that the more I watch, the more I get hooked. You have interesting stories from different guests and important tips and infos really useful for every Expat to be. Congrats and looking forward to more interesting vlogs! 👍

[@sosodave4192]

She got lucky and found a desperate seller. Almost nobody else will be able to do that.

[@TheSavvyExpat]

Great buy indeed

[@snowtyboy]

The Philippines now is very welcoming specially to US citizens. Not only US is bad but also Canada. Philippines now is like the US in the 80's. I just don't understand the law that shopliftings is ok as long as its under $1000, that's why so many shops went bankrupt. Here you can't do that because of the presence of security guards everywhere.

[@JunRoss-pp3mv]

And you think Pinas doesn't have red tapes!!

[@joyeeathome]

Interesting vlog and interesting comments from viewers! To clarify, a non-Filipino can only "own" land under 2 special conditions: Through hereditary succession or as a co-owner of a business entity (limited land size). However, a foreigner can still buy land if married to a Filipino, but the land will be titled to the spouse. Real estate is tricky, anywhere in the globe. Always consider location. Prices may go down but the hit will not be too bad and you will recover it. When investing in real estate, think long-term and diversify your portfolio. We have properties in the Bay Area (CA) and recently bought a few as well in BGC. True the price of Condos in BGC are more expensive, but you are paying for location. Is the average American doomed ... 😫 I think Philippines is a safe haven for expats, former Filipinos, and Filipino returnees.

[@JunRoss-pp3mv]

It's a safe haven if you can afford to live in a bubble. Most retirees come home cuz of money. They solely rely on SS with $2k to $3K monthly & can't afford to live in a bubble. It's all about location. I can also say, I live in Laguna Niguel, Irvine, Silicone Valley or Martha's Vineyard & it's very safe.

[@tedlasalvia9668]

Evan, first off she purchased at a discount. The original buyer didn't get their full 30% back. As she noted she purchased the condo at a discount. In fact, she says her purchase price was lower than the original purchase price for those condos. The other family's financial issue was an opportunity for her to purchases. She basically said, hey, you're not going to get the full 30% back, but here's what i'm willing to offer. Interesting interview. Regarding her business back home, she has two options. Sell her book of business or try to run it remotely. Most insurance agents rarely meet with clients that have been on the books for awhile. That's because, we pay premiums and they collect their residuals. Where being remote can hurt her is with trying to get new clients. It would seem that she is going to go back and forth, at least for awhile. It would be interesting to see what her long-term plans are.

[@TheSavvyExpat]

Based off of my convo with Dorotea, she plans on retiring out here. I don't think getting more clients should be an issue as she has a team handling that back in the states.

[@Desk_Jock]

my 2 cents, BGC condos are way overpriced, and over hyped. Prices at BGC are just too high, and if a recession hit the Philippines, all real estate in BGC will be at a catastrophic freefall, and everyone that are buying today will lose everything! Banks will foreclose enmasse (if the buyer took out a loan). It's not a matter of IF but WHEN. The global economy is cyclical. The boom that everyone is seeing now will eventually make way to a recession, then a trough, then a recovery. NEVER, EVER, buy when things are going great. Buy when people are panicking. That goes for a vast majority of investments. 😉

[@sfrealestatedealmaker6001]

Not to mention A.I. taking a lot of jobs in call centers would decimate the BGC call center industry

[@conservativefilipina]

It's gotten much more expensive to own a house here in the U.S. especially when you live in certain states where the cost of home insurance has skyrocketed. Love the casual conversation! ❤

[@ElmerAgcaoili-d7s]

Philippines is great and it's safe...

[@TheSavvyExpat]

Are you living in the Philippines already?

[@ElmerAgcaoili-d7s]

@@TheSavvyExpat yes born and raise,actually living here in signal village Taguig city metro manila

[@TropicalTodd]

I bought two condos in manduae Cebu for a total of 8 million pesos. The condos are small there so i had them combined to make a larger condo. But I don’t view it as an investment as my understanding condo prices don’t increase like they do in other countries. I’m just using it as a launching base to visit near by islands and other Asian countries

[@J-Tyson558]

She's either mistaken or needed to clarify her statement about foreigners owning land in the Philippines. Foreigners cannot own land in the Philippines. Only Filipino citizens or corporations with at least 60% Filipino stakeholders can own land in the Philippines. A foreigner can "own" a house on leased land where the Filipino landowner still holds title but leases it to the foreigner. There are rare instances where a foreigner can own land and Balikbayans also have special privileges, but these are exceptions. The 1,000 square meter rule she was referring to are for foreigners who are natural born Filipinos. Hope that clarifies it.

[@Ray_Warren]

This is also my understanding as my wife and I just bought two lots. She got dual citizenship to be able to have both lots.

[@huneverknow]

Well done to her on that investment... but seriously, if she is that savvy why on earth rent out the place for 65k/month if it's worth 16mio PHP. That's not even a 5% gross yield. That's lower that buying a gov bond in PH or lower than any dividend by most REITs in PH. 65k is also the gross rent... you d pay at least 6-7k for your association dues, you d spend money for the broker to find a tenant, you d pay income taxes, you d pay Real property taxes.. etc and the furnitures most time on you as well. So the NET yield is even lower. If you can really find bargains and flip go for it but I don't see the point of renting it at this yield (unless the value isn't really 16m now...)

[@joshuarizalforeman816]

Straight off the mark I knew this would be an interesting video. I had my own business in HK and my Filipino wife and I have profitable business interests in the Philippines, without actually having to work (hence my watching your post at 05:00 on a Friday morning). We moved here from HK, where property prices are prohibitive, a few years ago. In the past 4-5 years we have invested in residential and commercial property, the value of which has doubled. We bought all our property in cash, no mortgage, so there's no ineterest payments to worry about. We bought our main residence in 2019 for 7.1 million pesos. Its market value is now 14 million. We live about 2 hours from Manila in Antipolo - high altitude, clean air, aircon not necessary! Our other properties have also increased exponentially in value. Renting, to me, is wasted money. We lease out two of our properties and that garners us PP60,000 pcm without actually our having to do anything. We have recouped the initial investment and we are still getting a regular income. Our business is profitable (and employs the family).

[@TheSavvyExpat]

You got it set! Kudos!

[@stevedrake360]

What is "HK"?

[@joshuarizalforeman816]

Hong Kong@@stevedrake360

[@TheMariaDeLuna]

Loving the content. How does one find good connections for creating real estate retreat locations

[@Marie760]

I live in Eastwood when am in Manila . I love living there cause it has a small community feel and everything is there within a 5 -10 minute walk

[@TheSavvyExpat]

Eastwood is one of the nicer cities in Manila for sure. I personally would get tired of it, since the radius is so small.

[@Marie760]

@@TheSavvyExpat it really depends what a person is looking for . I grew up in the Philippines, worked overseas for 20 years, living in US now. I understand the appeal of BGC for content creators but for others like me , I prefer Eastwood cause it’s a more quiet community feel

[@richardunica3542]

@@TheSavvyExpat check this: northwin global city will rise in bulacan near new airport in a very near future.i think with in 5years new airport and subway plus nscr railway are operational.so another bussiness to invest in northwin.good luck

[@manilamartin1001]

Just subbed to her channel. Great interview.

[@TheSavvyExpat]

Thanks Martin!

[@MegaBladerunner007]

Sounds a bit predatory but I guess that's business as the owner needed to sell. Also, $1100 is still too pricey for a 2 bedroom in the Phillipines and I hope these prices don't continue to rise like here in the US. In the US, the cost for a studio apartment in a decent part of town can run close to $1500...smdh

[@iwantthatcom]

To clarify - Former Filipino citizens (born and raised in the Philippines) are exempted up to 1,000 square meters in buying land or house and lot, NOT foreigners who were born in other countries.

[@dumaguetedreaming]

My fil-am son and daughter are close to your age and we just spent the spring and summer with family in N.O. and neither of them were interested in going to school or staying there with family. I guess it's only the older generation complaining about living in the states. Be honest, if you weren't vlogging there what do you think you would be able to do to survive there?

[@JunRoss-pp3mv]

I'm retired & been in the US for 54 years but never think of retiring in Pinas. Live in a much better country. Save for the future & don't rely solely on SS & you'll be fine.

[@chucky882]

Yup, shit will hit the fan on America

[@makeyourlifeeasier5794]

Excellent video. I'm just not sure if the carrying costs & rents justify such large condo price jumps. Renting sounds like the smarter option in a market going up so fast.

[@daviddarden1915]

As American military 🪖 veteran. I love ❤️ 🇺🇸 AMERICA. Now, many places like California is dieing. But, never bet against America 🇺🇸. Now,having lived in Japan, Korea 🇰🇷, 🇰🇼 Kuwait, Saudi 🇸🇦 Arabia, Marshall Islands 🇲🇭 🏝 and of course the great Philippines 🇵🇭. I agree that Philippines is a great retirement place. As a widower and age (61). My children are grown. My hopeful plans are to retire under the American Military 🪖 Philippines 🇵🇭 sponsored SRRV VISA program. Thank you for this video.

[@DavidLMT.Rocks.]

143,571.00 Bought and then a year later its now double 287,142.00 renting it out for $1256.00 for a 2 bedroom with parking spot.

[@johnramos3335]

Cant wait to move in 2 yrs 2026. I am retiring from the Army and debating between Clark or bgc area anything close to international school.

[@TheSavvyExpat]

BGC is better for convenience and if you like the city life. Clark feels more like a calm, safe American suburb. Both are superb location if you ask me.

[@60515so]

How does the healthcare infrastructure and services in Clark compare to BGC?

[@pharcyde8083]

There are definitely low-priced condos in the Philippines that could potentially double one’s investment. Less likely with overpriced condos. Interest rates in the Philippines are high too, according to the central bank. The key difference is prices. Some cities are equivalent in price to U.S. cities.

[@friarnewborg9213]

AVOID NEW? Only the developer can sell at those prices, Real market is 30% lower (or more.) It is like buying a new car, and driving it out of the showroom. Haha

[@pharcyde8083]

@@friarnewborg9213 That’s one way. Personally, if I were a dual citizen I’d rather buy land and build a new house for the price of what foreigners pay for condos there.

[@friarnewborg9213]

@@pharcyde8083 : There are RISKS in that too. And BTW, it is not easy for foreigners to get Phl. Citizenship

[@pharcyde8083]

@@friarnewborg9213 I mean balikbayan dual citizens. I wasn’t suggesting dual citizenship for non-Filipino foreigners. As that can be very difficult, although there have been some expats awarded Filipino citizenship in the past.

[@friarnewborg9213]

@@pharcyde8083 Makes sense to Build if you can buy cheap land and manage the construction

[@theadaptivefitnesschannel4308]

Evan I want to invest in the Philippines. I will be visiting in February. Thanks for this valuable video. You are my inspiration for deciding to invest in the Philippines. Now I just have to get my boots on the ground.

[@TheSavvyExpat]

I'm happy to hear that, my friend. I wish you all the best with your ventures out here and feel free to shoot out an email if you have any questions.

[@sweproductions1]

I agree the Philippines is great. I don’t know about how safe it is in light of the impending war between China and Taiwan, because of the expansion of military bases that were built in the Philippines by the US for the United States military operations in protecting Taiwan.

[@treway213]

this was very interesting and I enjoyed the video. the only part that I question is that foreigners can in fact own land in the philippines as long as it is less than 1,000 square feet. I haven't found any sources to confirm that statement at all. all documents I have read that may suggest some form of ownership for foreigners would be that where foreigners can inherit land if they are legal heirs of filipino citizens.

[@KeithFLOOK-wd3uw]

I think that is only the case if the foreign citizen was originally born in the Philippines... an ex Filipino who has taken up foreign citizenship.

[@jimmysantiago9160]

I'm not sure if a foreigner can own a land, may be what she meant is a former filipino who became a foreign citizen can buy a land. Pls double check

[@TheSavvyExpat]

Will have to double check this

[@sfrealestatedealmaker6001]

Dual citizenship Filipinos can own and transact Real Estate in the Philippines

[@LtDave]

​@@sfrealestatedealmaker600113:35 please clarify with you agreeing with Evan that foreigners can own property of 1000 square meters or less. Documentation would be much appreciated!

[@LtDave]

​@@TarikSolimanX Yes, I was surprised about their statements where foreigners can own land- 1000 m² or otherwise. I hope they clarify the statements made at 13:35.

[@okamsug]

Foreigners can't own land in Pinas. Former Filipinos can own an area of 1,000 square meters (for urban land), or 1 hectare (for rural land). For business or commercial purposes, they are allowed 5,000 square meters, for urban land, or 3 hectares, for rural land.

[@writekelly]

Great inspirational! Can you double check or find the law that says foreigners can own land less than 1,000 sqm?

[@TheSavvyExpat]

I'll look into that 👍

[@michaeljakeusman]

foreigners cant. balikbayan (former ph citizen) can.

[@LtDave]

Big difference between a 'foreigner' and a dual citizen of the Philippines... Please clarify your guest's statement that "foreigners can own land of 1000 square meters or less". Documentation of her statement would be appreciated!

[@Ray_Warren]

@@TheSavvyExpat I like your channel but there’s a lot of misinformation in this one. She had the opportunity because bad planning on the part of the original condo buyer that she bought when they were in the distressed situation situation Secondly, she’s absolutely positively wrong about the thousand square meter issue if I’m wrong I’d really like to know because as far as I can tell this is promoting bad information which is dangerous to ex patriots

[@fluffie6568]

@@TheSavvyExpat hi Evan, I wonder if you can research about land ownership/house for different situations: foreigners, dual citizens, Filipinos who left and now US citizen but not going for dual citizenship but want to buy a house, etc. The size of the lot or house that they can own and is there size differences based on location (I.e. Manila or province). Thank you Evan! This would be a great content coz not everyone like to live in a condo 😊

[@hellwrester]

Good morning, I believe she is mistaken when she said foreigners can own a small land up to 1000sqm. The constitution prohibits foreigners to own land. But he can own properties up to 1000sqm as long as the land owned by Filipino. Please confirm.

[@friarnewborg9213]

She's right, The US market is going through a tough patch now. Part of it, is the toxic politics which includes an anti-business element. PHL market is definitely worth a look, though it has some peculiarities of its own. For instance, It is not easy for buyers to get mortgages. But if you can be a Cash buyer, it is great

[@friarnewborg9213]

TRANSACTION COSTS, are another important issue. They are high, and can be up to 25% for both sides. I think Dorothea would find it to realize that P16M she talks about. Maybe 12M or 13M, net to her. If you don't understand this, you have studied the market enough. haha

[@TheSavvyExpat]

Great point, each market has their own things to be aware of. Which real estate market do you think has the most potential for growth?

[@tarzanztoonz]

the thing is if you show up to buy a condo and you have a non filipino face they will charge you double!

[@blazerk.7189]

16million does not ad up.Fully rented 840,000 pesos per an.

[@talahib3668]

I would be very careful investing in the condo. Not worth it. Everything is overpriced. They (developers/sales) cannot be trusted. It seems like when we were looking for a unit, prices that they had been giving out keeps on going up and so many add ons. Units are very small.

[@myrenoliveros3405]

My dream is to retire early in pinas on my province

[@TheSavvyExpat]

How far are you from retirement?

[@caydenthompson126]

Same

[@MRBIGSLICK66]

I’m surprised to know foreigners can own land up to 1000 m² which is the same size house lot I live on in the states. Good to know. First time I’ve ever heard that information.

[@KeithFLOOK-wd3uw]

I think that 1000m2 is only for a foreign citizen who was originally born in the Philippines.

[@bobmuir8352]

As soon as she said that I think she needs to do more research not generalise that a foreigner can buy land totally not my understanding, like many things here in Philippines Its Complicated

[@JunRoss-pp3mv]

Foreigner can only buy condo

[@Robert-kb2uq]

I told my Japanese American friend that I invest land in the Philippines I already have 6 lots in Tagaytay, Antipolo, Taytay and Cainta. One of my lands I bought for 1.6M only it is now cost 15M because C6 road was built in front of it I will use this money for my retirement. He told me that real state is very risky in US because the high price in US can go down to zero.

[@panike]

I doubt it will go down. Even with high interest rates and low inventory of houses in the market the price didn't drop at all. Now that the fed stopped raising the interest rates I'm pretty sure the buyers will come back and raise the prices again.

[@Caritoooo]

I'm planning on buying a condo there one day...

[@sherylcastro5688]

I still like your channel ❤❤❤❤ Just a no-no to those Condo sellers to me

[@TheSavvyExpat]

Thank you!

[@DoroteaTuzon]

@thesavvyexpat, it was nice chatting with you.

[@TheSavvyExpat]

Likewise Dorotea! Thanks for your valuable insights.

[@LNR2023-o2y]

First, what would you call an "average American"? It all depends on whether or not you were born there. It also depends on what generation group you belong. Are you an immigrant to the USA? Many immigrants in the USA are living comfortably while many Americans cannot afford to live the way they would like. Why? Well, maybe poor planning in their early years. Poor investments, poor budget management. Think about it. Expats in the Philippines have their reasons for choosing to live in a country like the Philippines. I must not be what you consider "average". I am NOT doomed and neither are any of my friends, relatives or associates. We are all happy and proud to live in the USA.

[@JunRoss-pp3mv]

My parents, In-Laws, me & my wife are all retired in the US. Never considered retiring in Pinas. It's better to retire in a developed country. Best healthcare is the key to long life. In Pinas, hardly anyone sells health insurance if you're 65 & above. For those few that sells, it's triple the premium with limited coverage. Pay like $600 a month each. In US, you pay $174 a month regardless of your age & get the best healthcare.

[@LNR2023-o2y]

Thank you for agreeing with me. It is also wise to plan for retirement. Like no big credit card debts, no large monthly house payment and live a healthy life.@@JunRoss-pp3mv

[@gigibonquin1616]

There is a correction to what your guest said: 'A foreigner can own 1000 sqm of land', that is not correct; that is only for former Filipinos, not foreigners. Please make a correction. The law is BP185 for your reference.

[@arielgerardservillon3200]

you got it at ‘paşalo’ and the seller lost money on this. so your sales talk of 8m - 16m is a sort of a misrepresentation dude!

[@jdtravels5140]

My SoCal rent is $3,100. Bet I can do better in the Philippines and Thailand.

[@TheSavvyExpat]

Man, your rent alone can afford you a solid lifestyle out here. If you were to come out to the Philippines, how would that affect you work situation if you don't mind me asking?

[@jdtravels5140]

@TheSavvyExpat - Yesterday, was my last day of work at my Fortune 500 company. I'm retiring with SS and multiple pensions. The future looks bright as I prepare to move back overseas.

[@TheSavvyExpat]

@@jdtravels5140 Solid, best wishes with you move back here

[@GUITARTIME2024]

Check other areas in America first.

[@sfrealestatedealmaker6001]

I’m from the SF Bay Area. I was in BGC for 2 weeks and my average meal cost $4 USD, I ate out the entire time I was there. My Airbnb ran me around $1500 for 2 weeks which is high but rent for a 1 bd rm in BGC is around that price per month. I’d say the total cost of living there would be comfortable at $4,000 USD per month (eating out everyday included), which is really reasonable considering everything BGC has to offer.

[@darrylk808]

Is Dorothea a dual citizen, so she buys as a Filipina or buys as a US citizen? As a foreigner, is there a minimum spend? An expat tax that must be paid? Example: Singapore has a 20% tax on real estate purchased by non-citizens. Malaysia depends on the state, but some require a minimum spend of 1 million Ringgit, and other states require less. I live across the bay from Milpitas.

[@wavemaker2077]

If you have a Philippine passport, that means that you are as Filipino as every other Filipinos. Since she is a dual citizen, it means that she has a Philippine passport. So she is treated just like any other Filipinos.

[@jeffmcdonald4038]

No chance at all the chinese might want to take the philippines, You know like japan did. None at all.

[@TheSavvyExpat]

Agreed

[@snowtyboy]

Chinese bought a lot of condominiums here for investment

[@jeffmcdonald4038]

@@snowtyboy Chinese people Not chinese government.

[@PINOY_THOR]

Hi Evan.. how are you..? Im a subscriber of your KZbin and I love your content and what you’re doing. But I have a question on this particular video. Your guest said that a foreigner can own land but up to a limited 1,000 square meters. As I’ve watched your previous videos, you also mentioned that foreigners can not own land except when purchasing it with their Filipina wife. I just like to make a correction that your guest was wrong and that foreigners can not own land not unless they are a corporation or business. I am a Filipino American from California. I was born in the Philippines and my family immigrated in California USA in 1970 when I was 4 years old. The first time we went back to the Philippines was in 1984 when I was 18. Since I met my 2nd wife, my wife and I have going to the Philippines once every two years starting in 2010. We purchased a condo in Cubao, Quezon City in 2013 for 5m pesos and it is now worth 16m pesos in 2023. But I like reiterate that foreigners can not purchase or own land without a Filipino wife or husband under their name. Thank you and keep up the great work.

[@marlonmanansala9053]

According to the written constitution Philippine law. Foreigners non Filipino citizen cannot own land in the Philippines. Do diligence is key, make sure.

[@KeithFLOOK-wd3uw]

If any American asks you if the Philippines is safe, point them to the Global Peace Index that is published every year showing rank of the safest/peaceful countries in the world starting with the safest ending with the most dangerous (163 countries) The Philippines has improved from 124th to 115th, the USA has slipped from 129th to 131st. The UK has slipped from 31st to 34th safest. It means only around 30 countries in the world are more dangerous to live than the USA.

[@markymartin6037]

The first time I accidentally watched your vlog, I knew that you were a Filipino who grew up in the US. If I still remember your content, you are in your hometown, and you are in your ancestral home?. I don't know if you have already started your KZbin channel. Anyway, about your guest today, I was wondering what she said to start searching (something like that?) in the Philippines. My question is: don't they go home to the Philippines even once a year, or twice or three times every other month?. The opportunity in the Philippines is vast, particularly in business, if you know how to handle your hard-earned money. If you are a strategic person, don't rely on just one thing. If you are a tech person, enter multimedia. Anyway, the content you thought was good was because it is a big help to expats or other foreigners who want to live in the Philippines.

[@sherylcastro5688]

Walking & interviewing…. THAT’S HARD LOL

[@oliviawinn2352]

It can be a skill to do simultaneously. Great job!

[@TheSavvyExpat]

It was definitely a good mental exercise that's for sure haha

[@KevinTrickKnee]

I want to buy a 1000 square meter of land in Tagaytay with a view. Who do I contact?

[@antonioespanol2123]

I think she is wrong about foreigner can own land 1000sqm or less. Unless the law has changed recently. But if you are a former Filipino citizen( non dula) who have gained other citizenship by virtue of birth you can own up to 1000sqm of land. This is a privilege not a right.

[@johnamacio4905]

There is more opportunity in Pinas...did I heard that right?

[@JunRoss-pp3mv]

More opportunity in a developed country. Too many red tapes in Pinas.

[@FinNews167]

Its called distressed investing if you have the money to buy up distressed assets in a growing economy it will pay great dividends.

[@pharcyde8083]

Exactly. The same can be done in the U.S. if you have the cash. Buy up foreclosed homes during a recession and rent for profit and equity.

[@TheSavvyExpat]

Great opportunities to capitilize on

[@orlangatan8060]

OH NO this is what happening right now here in u.s. about the high cost of housing

[@JunRoss-pp3mv]

What do you think of an 8 million pesos condo & in a year became 16 million pesos.😂😂

[@comeconcon569]

"Expats" is actually a short British term to mean "Expatriates". it is not an American term as you might think it is. "American expatriates living in the Philippines" "British expats living in Malaysia and Singapore"

[@hafiseanwar1366]

Of course a property developer will tell you the price of property will increase by 7% each year for the next 5 years at least. It's his job to make such claims in order to sell his housing stock! The cost ofpremium property/condos in prime locations in the fils are way way over priced. When inflation hits harder in the fils, and interest rates rise property prices will fall, most likely by as much and as quick as they have been rising. You only have to look at the foreclosure market in the fils o n property and motor vehicles where people can no longer make payments so the banks have stepped in and taken possession. Foreigners must be mindful that often condo can just be bought with a 55 year lease!

[@robocop581]

Ignorant comment. I own four condos in Manila. They're all rented out and have appreciated in value. That price increase stated by agents are usually true. When we bought in 2012, our agent said our units will increase in value by 1% per month. Upon turnover five years later what the agent said was true. People that don't invest usually act like they know everything and you're obviously one of them

[@mr.sept.5790]

You better be a citizen to be able to buy

[@jcueto698]

She should not be called a "foreigner" if she regained her Filipino citizenship.

[@mhaecervantes3567]

Hello savy after watching your video I think I want to invest again in the Philippines I mean buy a house ( loan in the bank,) for my future and my son's future

[@shovelnose9200]

I was under the impression you could not own land. Can you please confirm?

[@mattbraban8637]

When was a frouner could own land, less then 1000 sq metres. When did this become law. Im not sure this is fact. 🤔

[@TheBigBananaaa]

👍✅🙀😳🫣✅👍

[@davidwollenberg1758]

Well the only way I would ever moved to the Philippines is a condo luxury condo. Would not be in my wife/girlfriend name

[@paolodevoti2277]

I think bringing to Philippines the USA real estate logic is a danger for the Philippines

[@j0p1n0y3]

It is overpriced. Real estate in PH especially in Manila, Makati and Taguig are all expensive for a micro unit size. I can bet that I see a bubble ready to pop in this market.

[@snowtyboy]

For locals yes but not for foreigners with $$$

[@orangeguy3314]

Of course they won't cover the slums in the philippines. Most of the population in the philippines. Dream of moving outside of the philippines to the advance countries of the world. America has the strongest economy in the world. Way ahead of the other advanced countries of the world. KZbinrs in the philippines have no shame and will tell any lie. 😅

[@guambroker]

you make/lose your money when you BUY

[@jumpinjehoshaphat1951]

I like Philippines but the notion that there's more economic opportunity than in the US is absurd. In flies in the face of the vast numbers of Filipinos who work abroad.

[@mattbraban8637]

When everyone relocates there will be heaps of opportunities.😊

[@EasternDreamer615]

Especially for medical professionals - if you are a medical professional, you benefit from a large population of old people with lots of money to spend on healthcare. This channel will never do a wage comparison video on the Philippines vs. the US because it would show some grim realities.

[@g-manthenurseman7532]

Yeah, there’s college degreed people making $3-400/mo. equivalent in Ph. They can go do domestic work abroad instead and have the money to buy one of those condos. Or, better yet, a woman here can marry a seafarer and live pretty well. I’ve seen it. The good paying jobs here are few and far between from what I’ve seen (I’m not in the capital region, though).

[@evans1120]

Rent Rent Rent

[@melc.3126]

Would Dorothea Tuzon move to the PH when her children were college age or younger? If not, why? My retired Filipino-American parents were concerned that the education in the PH would not qualify us to get jobs in the US when we became adults that's why they decided to move back to the US in the late 1970's. I personally know of coworkers who were originally nurses, pharmacists, dentists and doctors in the Philippines but when they tried to work in the same professional field in the US, they were required to retake educational courses and licensure exams. Some decided not to take the additional time, money and effort to do this and now they work as Nurses Aides instead of Nurses, Dentists or Pharmacists. 😢

[@wavemaker2077]

There are a lot of Filipinos in the US working as nurses. Most of them graduated from the Philippines and then took the nursing exam in the US. They passed the US Nursing board exam.

[@sherylcastro5688]

Scam-dol, budol. Those condos are too overpriced……

[@GeoSer-lv9eb]

Are Ya'll gonna give up your USA 🇺🇸 citizenship?

[@pharcyde8083]

Most dual citizens retain their U.S. citizenship. Very few renounce it, unless they never want to return with their rights intact. Plus, traveling back to the U.S as a foreigner (tourist visa) can sometimes be difficult.

[@TheSavvyExpat]

nope

[@GeoSer-lv9eb]

@pharcyde8083 don't know why Filipinos has difficulty getting a visa.and yet the our border widely open it doesn't make no sense.

[@pharcyde8083]

@@GeoSer-lv9eb Depends on the current U.S. Presidency. Some administrations are afraid of tourists overstaying their visas i.e. illegal immigrants. Some administrations cracked down on deporting illegals.

[@GeoSer-lv9eb]

@@pharcyde8083 it's politics

[@Marc-f2l]

If every thing doesnt work in the Philippines she can always go back to the US.

[@elperro3056]

States expensive I can make 10 g month in USA. And then come here with that live for 4-5 month comfortable passport bro let take advantage of ur dollar and go overseas 🤣🤣🤣 fact

[@RetirePhilippines]

Total Propaganda Channel. Sad.

[@the_silentAssasin]

So basically she and her family immigrated to the U.S for a better opportunity, earned dollars, gained her citizenship which allows her to receive a pension during her retirement age. It also afforded her the means to purchsse a 8mil condo in the Philippines and retire in her native country... I would never invest in property here, the construction/build quality is low for the asking price. Yes, I've lived in bgc for 1 year and I wasn't impressed with the units there.

[@robocop581]

Maybe it was your budget that sucked, that's why you were not impressed

[@the_silentAssasin]

@@robocop581 I'm in mactan newtown now and still not impressed...you might be a filipino...which explains why you wouldn't know any better or maybe a foreigner who can't afford an international ticket....🤣

[@robocop581]

@@the_silentAssasin Yawn. I'm a Filipino but I'm based in HK and I own properties in Canada and Manila as well. You probably live in a crap condo based on your crappy budget. Try Shangri-La condos like OSP or at the Fort, or the ones at Rockwell that sell for 400,000 pesos per sq meter, they're up market. If you wanna flex your wealth, go ahead, I'm good with that. Like I said, you're not impressed because your budget is crap.

[@the_silentAssasin]

@@robocop581 explains the mindset once you mentioned filipino ... Most ignorant people on the planet. We ytes rule u...hahah

[@the_silentAssasin]

@@robocop581 considering the majority of condo here are crap that doesn't say much because you own a condo on a street filled with sari sari stores, smells like jeepney and urine....🤣

[@InfiniteGoodness]

The future of the world is Asia, and the world order has now shifted towards Asia with Africa and Latin America. Real estate demand and other businesses are just going to continue to rise unstoppable as lots of European, American, Canadian, Australian, Russians among other expats are now pivoting towards Asia (well Russia that has the cheapest energy supply is still part of Asia), particularly the Southeast Asia, more specifically the Philippines as their new home base or a home away from home, especially in the World Travel Award for 2023, The Best City Visited, Best Beaches, Best Driving Spot and the other one I forgot the name, the best award went to the Philippines and that speaks a lot, of course Southeast Asia is now becoming the new Europe. Even just a vendor owners now are getting lucrative profit and the Philippines have everything from malls, to family, foods, nature and to culture full of human values lost in the West 👍💐🎉

[@TheSavvyExpat]

Agreed

[@jonathansumilang9220]

Why is there still so many overseas worker. Is there jobs there for Filipinos to thrive?

[@ElmerAgcaoili-d7s]

Philippines is great and it's safe...

[@TheSavvyExpat]

It sure is, thanks for watching brother.

[@friarnewborg9213]

PARTS Of it, like Makati and BGC are safe... I would say. Not all

[@ßhopkins]

​​@@friarnewborg9213even foreign vloggers were able to film in the slum areas of Tondo, FYI. Did they die? 🙄

[@jojojojo-bt6sd]

​@@friarnewborg9213 Anybody does not know what real danger is until they've been in the US or Brazil. To say any place outside Makati or BGC is unsafe are words coming from a stupid elitist deriding the more decent people of the working-class communities

[@JunRoss-pp3mv]

Yes, they're living in a bubble. @@friarnewborg9213