Phil-Realty Consult Services

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''While the Philippines limits to 40% the number of units foreigners can buy, local laws can be circumvented by having a local company acting as a front and buying on behalf of foreigners. '' Bob Herrera-Lim, country managing director at international communications and advisory firm Teneo, cautioned that too many foreigners snapping up Manila real estate on the cheap could turn into a political problem. "It is one of the things that generates resentment historically," Herrera-Lim said. "When a certain class, normally the up and rising middle class feel priced out of real estate, and they see the buyers are foreigners, it generates resentment."class feel priced out of real estate, and they see the buyers are foreigners, it generates resentment."

Chinese eye bigger slice of Manila as real estate prices tank Locals fear being left out as market correction risks forcing quick sales

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