Cost of Buying Property in Antipolo City

The cost of buying property in Antipolo City would vary depending on what type of buyer you are. Foreigners, for example, can own a building but not land. They can only own up to 40% of the land but not more unless they have a Philippine Special Retirement/Investment Visa (SRIV). The SRIV allows foreigners many of the investment privileges that regular Filipinos have. There is also such a thing as a Special Resident Retiree’s Visa (SRRV), a non-immigrant resident visa that allows foreigners to have more benefits than just being allowed to buy condominium units or lease land. Apart from that, all Filipinos are given the chance to own property and land at their own disposal. Generally, the following are the costs of buying property in Antipolo City, unless otherwise agreed upon:

Buyer costs:

• Documentary Stamp Tax – 1.5% of the zonal value, fair market value, or selling price, whichever is higher
• Transfer Tax – 0.5% of the zonal value, fair market value, or selling price, whichever is higher
• Registration Fee – 0.25% of the zonal value, fair market value, or selling price, whichever is higher
• Incidental and other miscellaneous expenses during registration

Seller costs:

• Capital Gains Tax (Withholding Tax for corporations)– 6% of the zonal value or selling price, whichever is higher
• Any unpaid real estate taxes
• Broker’s commission

Brokers are usually paid a certain fee to complete the whole transaction, which is why the sellers are usually the ones who shoulder their fees. However, all the other fees associated with registration are the responsibility of the buyer.

Again, the aforementioned are the standard costs per party when doing real estate transactions in Antipolo City. Parties can always agree on other terms provided that they do it before signing the Deed of Sale. If you are not familiar with this, the Deed of Sale is the document that shows a legal transfer of the ownership of the property. Once you have this document, it is important to bring it to the Registry of Deeds so that they can officially record the transaction.

When transferring a title, you will need its certified true copy, copies of the Deed of Sale, the latest tax declaration of the property, and a certificate from the Bureau of Internal Revenue (BIR) assuring that the documentary and capital gains taxes have been paid. Make sure to keep all the receipts just in case.