Buying a condominium unit in Boracay is the most straightforward property ownership option for foreign nationals in the Philippines. Unlike land or standalone villas, condos can be held directly in a foreign buyer's name — giving full legal title with no corporate structure required.
The key restriction: total foreign ownership within any single condominium project must not exceed 40% (the "40% rule" under the Condominium Act RA 4726). Here's the complete process from start to finish.
The Complete 8-Step Condo Purchase Process
Confirm foreign ownership quota
Before signing anything, confirm the project's current foreign ownership percentage with the developer or condominium corporation. If foreign quota is exhausted, you cannot purchase directly — you would need a Philippine corporation structure. BORACAYNAVI tracks this for all recommended projects.
Sign Reservation Agreement + pay reservation fee
The Reservation Agreement is signed and a reservation fee (typically ₱50,000–₱500,000 depending on price) is paid. This secures the unit for 15–30 days while due diligence is completed. The reservation fee is typically applied toward the purchase price.
Title and project due diligence
Verify the project's master TCT at the Registry of Deeds. Confirm the developer's registration with HLURB/DHSUD. Review the Master Deed of Restriction and condominium by-laws. Check for liens or encumbrances on the master title. BORACAYNAVI handles this for all our listings.
Sign Contract to Sell (CTS)
The Contract to Sell details the purchase price, payment schedule, unit specifications, completion date (for pre-selling), and buyer/seller obligations. Have your independent attorney review before signing.
Complete payment
For resale units: typically lump sum or 2–3 tranches over 30–60 days. For pre-selling: instalments over 12–48 months, then balance on turnover. International transfers via SWIFT from your home country — ensure BSP inward remittance documentation is in order.
Deed of Absolute Sale (DOAS) execution
Upon full payment, the seller executes a Deed of Absolute Sale in the buyer's name. This is notarised by a Philippine notary public. The DOAS is the document that triggers title transfer.
Tax payments: CGT, DST, Transfer Tax
Capital Gains Tax (6%, paid by seller), Documentary Stamp Tax (1.5%, buyer), and Local Transfer Tax (0.5–0.75%, buyer) must all be paid to BIR and local government before the title transfer can be registered.
Register at Registry of Deeds — receive CCT
The DOAS and tax receipts are submitted to the Registry of Deeds. A new Condominium Certificate of Title (CCT) is issued in the buyer's name. This is your definitive proof of ownership. Processing takes 4–8 weeks.
Timeline Summary
Reservation to Contract
2–4 weeks
Due Diligence
2–3 weeks
Payment Completion
30–90 days
CCT Registration
4–8 weeks
Boracay Condo Listings for Foreign Buyers