Philippines
In the Philippines, real estate is an area for growth. Aside from the development of high rise buildings in the Greater Manila area, nearby provinces are now seeing much land development with its continuous expansion for horizontal development projects in the nearby provinces such as Laguna, Cavite, Rizal, Bulacan, Pampanga and Batangas.The major expansion in vertical real estate development outside Metro Manila are in Tagay south of the metropolis, Cebu and Iloilo in the Visayas, Cagayan de Oro and Davao in Mindanao, where medium‑to‑high rise buildings are beginning to appear.
Foreigners are generally not allowed to hold more than a 40% interest in any land, although there is an exemption for pensioners who deposit more than US$50,000 in a specified account.[6] Philippine rules distinguish between a house and the land it sits on.
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