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
Developers track foreign ownership per project, not per building phase. Ask for the developer'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: most Philippine banks require foreign buyers to pay in cash or secure financing from their home country, since local mortgage products are typically reserved for Filipino citizens and dual citizens.
