I know someone may have asked this before, but I'd like to learn what I need to know about buying a condo in the…

I bought a condo in Mactan 5 years ago... I have zero regrets... 1.2 million pesos... 1 bedroom... 38 square meters... I bought it because I'd been staying here as a tourist for a long time, and I'll be staying longer and longer from now on... But! I'm not buying it as an investment... There are already too many empty condos, condo rent is cheap... If I want to earn Australian dollars, it's better to invest in Australia. There are too many hurdles to go through here.

Would you buy a condo in your hometown? (I'd never buy one.) If you wouldn't do it at home, don't do it here either.

Don't buy without an exit strategy. Don't buy in Metro Manila, where you'll be dealing with a tenant market that squeezes you on price. Don't buy in the provinces either; when you want to sell, there won't be buyers. Don't buy from developers (like XXX and its affiliates) who don't tell you a building doesn't allow Airbnb. Rent is very cheap, so you can pick the best unit in a great location, and you don't have the long-term burden of a condo you can't rent or sell, like an unhappy marriage. If you really want to buy, only buy in an Airbnb-permitted building in BGC: it can be rented to both local and foreign tourists, demand is good, and it has resale value when you leave. You're welcome.

Thanks everyone, I guess I'll put it on hold for now. Yes, I would have paid in cash. I was just trying to hear opinions and thoughts. This group really helps 😀