Can foreigners own real estate in Boracay Philippines?
June 10, 2013 Leave a comment
Foreign ownership of real estate in the Philippines has always been a prickly issue. There was a time when it was not possible for foreign nationals to own land, homes, or condominium units in the country.
With the new development of the Boracay Newcoast by Megaworld Corporation, it is now possible for foreigners to own a piece of Boracay real estate in one of the best beaches in the world.
The Boracay Newcoast is comprised of 5 districts. The Newcoast Village which is a residential area where homes and villas can be built. The Oceanway Residences is a mid-rise condominium development in the middle of Boracay’s only golf course by the Fairways and Buewater Resort and Country Club.
The Shophouse District and Boutique Hotel District are commercial areas where entrepreneurs may invest and operate their business. The Savoy is a first class hotel within the Boracay Newcoast which is the only part of the Megaworld development wherein foreigners may not invest or own property.
Visit the web site of Negros Real Estate to know more about Boracay real estate properties for sale.