The houses for sale in the Philippines are not quite that affordable when you think of luxury houses. But news has it that it will fall back this year and more and more people will be able to afford such houses.

High end property prices in the Philippines are expected to suffer a sharp downturn in 2009, especially in Manila, because of the economic downturn, it is claimed.

Industry analysts are expecting demand from foreign property investors and experts to fall and this will have a major impact on the real estate markets.

According to Christian Cruz, senior economist at Global Property Guide, prices of luxury units in Manila could be affected as expats are called back to their countries because of ongoing job cutbacks.

Colliers International research manager Ramon Aguirre said he also believes that there will be downward pressure on luxury unit prices. ‘So far, prices are still flat. Developers are still holding on to current high prices. But when demand dries up during the latter part of the year because of the slowing economy, they would have to lower,’ he said.

A lot depends on how much developers are willing to budge. According to Clara Cordero, head of research and consultancy at Jones Lang LaSalle Leeched Philippines, some will have anticipated weaker demand.

‘As early as the third quarter, developers realized that they could not count on buyers from overseas so what they did was concentrate on the local market. Local buyers can carry the market for the meantime,’ he said.

There is potential room for buyers with cash to consider investing in property rather than stocks and shares because of their volatility.

‘People with the money to spare are not investing in financial instruments right now. We could see a move back to basics such as property,’ Aguirre said.

Some developers said they are not planning to lower prices. ‘We even had a price increase in some of our luxury projects, where demand continues to be strong,’ said a spokesman for Eton Properties Philippines.

However some analysts are warning that while local prices remained cheap relative to the region, constitutional restrictions on foreign ownership make neighboring countries more attractive.

Cordero said investors may also choose to invest in other Southeast Asian countries because they have advanced real estate investment trusts, which makes the markets there more transparent.

But foreigners may still be attracted to property in Manila because of its relative low cost of living and political stability.

Philippines is one of best places to live or build a family. Here, you can find a lot of properties for sale whether for business, leisure, start your family or just spend your retirement.  Sure, you can find the best real estate property in the Philippines since a lot of real estate companies are continuously developing subdivisions, condominiums and leisure getaways.

Before you buy a property or a house for sale in the Philippines, it is important to understand the basics, in order to avoid fraud transactions. Here are some tips that can serve as your guidelines, especially if it is from an individual seller.

Transfer Certificate of Title or TCT should be original or authentic. You can ask the seller to give you a copy of the title so you can verify it from the Registry of Deeds. This is the government agency where you can check the authenticity of the property that you are aiming to buy. Here in the Registry of Deeds, you can ask for a “certified true copy” of the land title of the property. In doing this, go to the municipal hall where the house or property is located then give them the name of the owner and the title number.

Availing a property or a house for sale in the Philippines requires careful research. In fact, aside from title verification, you still have to look at the history of the property owner.

Check if the property title is clean. This tip means you have to check that the property is owned by the seller. There should be encumbrances or claims on the property. So, how do you do this? Just look at the back of the title and see the heading ENCUMBRANCES. There should be nothing written on this part or page of the title. But do not be surprised or confused if some parts of the property description are written on this area. Sometimes this happens when there is no enough space in the front page; nonetheless, it’s perfectly fine.

The property description must match the property that you are purchasing. There are times, especially when you are buying a property that has no house number or street name. There are also cases that descriptions written in the title are not detailed. So, what you can do is clarify the descriptions or details from the Registry of Deeds or get the service of a surveyor or geodetic engineer. You have to take note that the exact location and size of the property are needed for the Transfer Certificate of Title.

When you buy a property or a house for sale in the Philippines or in any part of the world, you have to deal with the real sellers or owners of the property. It is essential so that you can ask details upfront or confirm some things concerning the property.

Know who you are dealing with. If you are buying from an individual property seller, it is important that you know his identity. If possible, request for identification documents such as license. Try to talk to the neighbors so you will have an impression of his history. This will help you in assessing his character, if he is trustworthy or not.

Verify if the annual tax of the property is regularly paid. As the buyer, you have the right to know if the seller pays his property tax regularly. You can do this by asking for proofs of payments such as certified copies of Tax Declaration and the tax receipts.

In buying a property, you just have to make sure that every transaction is properly documented. If you are still hesitant on making transactions by yourself, then it is better to have someone knowledgeable on this matter. Besides, you can always get the service of a real estate broker. These people are experts in terms securing you a good property with clean and legal documents. You have to remember that when you buy a lot or a house for sale in the Philippines, you have to be really cautious because it will cost you huge amount of money. It pays to search for good location and to deal with honest seller.