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The Philippines

Philippines
	Capital	Manila
	Population	97,976,603
	Area	300,000 sq km
	Language	Filipino and English (official), eight major dialects
	Currency	Philippines, Peso (PHP)
		100.000000P (PHP) = 2.174859$ (USD)

More than 7,100 islands make up the Philippines, but only 11 of the islands are inhabited. Located between the Philippine Sea and the South China Sea, neighboring Vietnam and Malaysia, this former Spanish colony has been blessed with a geography that will impress even the most reluctant visitor (especially those that resist its charms simply because its on the "wrong side" of the China Sea). Turquoise water, mountains, volcanoes and white sand beaches cover this beautiful country. The Philippines is slightly larger than Arizona but has living and investing potential twice that size.

In a recent report, Manila was ranked the lowest of 134 other Asian cities in cost of living and that’s not even taking into account the even lower cost of living in less-urban areas. For the last 20 years Filipinos have had written and spoken English required in school  every year, so the majority of Filipinos understand English and most are happy to converse in your native language. The friendly people, island setting and low cost of living make the Philippines a great place to live and invest in Asia.

Top 3 Places to Live and Invest

Cebu City is a much nicer option than Manila if you are still looking for an urban feel. Sometimes called the “Paris of the Philippines” due to the number of large universities and skyline where the mountains meet the sea. A brand new 2-bedroom condo in a building with a swimming pool, sundeck, tennis court and clubhouse is on offer for $114,000. A less than a year old 3-bedroom house with 2-car garage goes for about $165,000.

Palawan is often called the last frontier of the Philippines. Properties filled with isolated beaches and untouched forestry are some of the real estate opportunities available in Palawan. A 20,000 square meter plot of rolling farmland goes for $20,000, that’s a $1 a square meter! Larger properties (80,000 square meters) of beach front land go for about $1 million, but can be broken up into smaller plots of land and re-sold for a nice profit. As most of Palawan is unknown to foreigners, there are few houses for sale, most is just land waiting to be developed.

Bohol called “God’s little paradise” for its clear blue water, rolling landscape and chocolate hills (or rather brown hills that look like chocolate). Powder white sand and beach resorts fill the coast of this lush tropical island where ocean front land goes for as low as $37 a square meter and some of the new luxury houses are on offer into the millions of dollars.

Health and Senior Benefits

Adequate medical care can be found rather inexpensively in Manila and Cebu but the further you are away from the major hospitals and medical clinics, the less modern the health care facilities will be. Doctors and dentist visits are inexpensive; a visit to a general practitioner for a check up runs between $7-13 and a partial bridge can be made for $20. Be warned that in many hospitals payment is expected before you can see a doctor so be sure to have cash on hand. Health insurance is available through the government; the requirements change frequently so check into it before leaving home.

The Filipino government recently lowered their requirements for retirees wanting to live in the Philippines. Proof of $10,000 in the bank (previously $50,000) and at least an $800 a month pension, ($1000 for a couple) makes you eligible for a retiree visa for the Philippines. Another option for those not wanting or unable to get a retiree visa is to stay on a tourist visa indefinitely. It costs $20 for the tourist visa and to renew it, you must leave the country for at least one day, once a year. Many people chose the latter option and there are now package deals to renew your visa that go to Thailand or Hong Kong for about $300. Do be warned that even on a retiree visa you may own a condo or townhouse, but you cannot own the land unless you are Filipino citizen or co-own the house with a Filipino citizen.

Safety and Infrastructure

The United States State Department continuously issues safety and security warnings about visiting the Philippines on its website. While many of the warnings are accurate (such as avoid the southern island of Mindanao), others may depend on where you are in the city (such as Manila) and how you chose to behave. A number of expats have lived in the Philippines for years and dispelled many of these rumors, yet all caution against using ATMs after dark, wearing expensive jewelry and getting into the cab with another passenger already inside (a common practice to pick up more than one person at a time). Pick pocketing, credit card fraud and Internet scams are common as in any developing country so exercise caution throughout the day.

When living in the Philippines, you must expect ‘brown outs’ (no electricity), potholes in the roads and most buildings and vehicles built for people who are less than 5’8 tall. The Filipino government will schedule ‘brown outs’ or shut down the electricity for a few minutes in order to repair or update the power system. Roads in the Philippines vary from paved highways to small dirt lanes, yet during the last decade the transportation infrastructure and services has increased dramatically. Public transportation may be outdated but is generally safe. The communications infrastructures in the larger cities in the Philippines have remarkable Internet and phone service, mostly due to the large number of foreign businesses outsourcing their work to Filipino employees.

Culture and People

Filipinos have taken all the good qualities of their Spanish colonizers, American occupiers and indigenous cultures and rolled them into one culture that is well-educated, hard working and fun loving. At 92 million people, this island nation has the 12th largest population in the world and estimates suggest the population will continue to grow. Family is the center of the Filipino social structure and includes both nuclear and extended family. It’s very common for members of the same family to work for the same company, in fact in many collective bargaining agreements, preferential treatment for hiring is given to family members.

"Hiya" is shame and is the underlying factor in controlling behavior. A person would rather go into debt then to admit they do not have the money to throw an elaborate party and be shamed by their economic circumstances. (Filipinos have huge birthday parties where a pig is killed and roasted, and also elaborate weddings). Social pressures run deep in Filipino society. Appearances are very important, both in dress and manner so be sure to look nice for parties and other social events.

Average Monthly Budget for a Couple in Cebu City, Philippines

Rent for a 2-bedroom apartment in a nice part of town: $300
Daily maid service (Monday-Friday, 8 hours a day): $50
ADSL Internet: $42
Telephone (1 landline, 2 cell phones): $42
Cable TV: $12
Water: $3.50
Electricity: $85
Gas: $5
Private Health Insurance: $100
Food: $200
Transportation (2 cab rides a day, averaging $1 a ride): $60
Total: $899.50 per month