天美麻豆

I had a realtor contact me (well, I emailed him first actually) and he told me there is a way for a foreigner to own a house in Philippines.聽 It involves in putting the home in the name of a citizen however the document you use gives the citizen NO RIGHTS to use or sell the land, you (the foreigner) retain those rights.聽 I do have a friend (former co-worker) in the USA who I trust enough to do something like this as long as he truly would have no rights on the property.聽 He has dual citizenship.聽 Anyone know anything about this?聽 Is it a scam?聽 Is it safe?

My other question is about the historic rates of real estate inflation over the last say 20 years.聽 If one bought a house, say in Cebu, possibly beach front, in a "community" that caters to expats, and one lived in the house 6-8 years, would one expect to make a decent return on the purchase price?聽 (Say at least 2-3 percent increase per year.)聽 Or is it highly possible that you pay $100,000 USD for a place and have to sell it for half that?

Also, IF it is possible to buy a house (or even a condo, since I have read that is possible) what sort of taxes and fees does one pay on a yearly basis to the city/province/nation, etc???聽 Is it possible (and affordable) to buy home owners insurance to insure your place and contents??聽

Thank you.

Rob