Under the Condominium Act, foreigners may own condominium units directly — but only as long as at least 60% of the units in a project remain Filipino-owned.
How the 40% cap is enforced
The cap is counted per condominium corporation, so ask the developer for the project's current foreign-ownership percentage in writing before you reserve a unit — some popular buildings are already at the cap.
Land itself remains off-limits to foreign ownership except through narrow exceptions like hereditary succession. A condo unit is not land — it is a real right over the unit, which is why the Condominium Act carves out this exception.
Financing also differs: many Philippine banks lend only to Filipino citizens and dual citizens, so foreign buyers often pay in cash or arrange financing abroad.
