Expats Fueling Luxury Condo Sales in PH

Asian real estate investors and expatriates are fueling the demand for luxury residential condominiums, reports ABS-CBN News. According to a CBRE Philippines senior director expats who are now in the Philippines are buying condo units instead of just renting. While foreigners are not allowed to own land in the Philippines, they can own condominium units but are subject to conditions of the Condominium Act.