REAL ESTATE FAQS

Here are the different costs that you need to know when buying real estate properties in the Philippines:

- Notary Fee: This is what you pay to get important documents notarized. Generally, the notary fee is 1 to 2 percent of the property value and is negotiable between the buyer and seller.

- Local Transfer Tax: The Local Transfer Tax is a government-imposed tax on the transfer of property ownership from the seller to the buyer. You are expected to pay 0.50 percent of the property value for those located in the province. For Manila properties, you would have to pay 0.75 percent.

- Documentary Stamps Tax: DST is an excise tax that is set for all the legal requirements like documents and papers that serve as evidence for the transaction. It is 1.5 percent of either the fair market value or selling price, usually taken from which is higher.

- Capital Gains Tax: This is the tax paid for gains in the capital invested. It is usually 6 percent of whichever is higher from the selling price, zonal value, and fair market value.

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