NAIA Airport is the airport serving the general area of Manila and its surrounding metropolitan area. Located along the border between Pasay City and Parañaque City, about seven kilometers south of Manila proper, and southwest of Makati City, NAIA is the main international gateway for travelers to the Philippines and is the hub for all Philippine airlines.

Friday, February 26, 2010

Buying Property Abroad

 What You Need to Know

As world travel becomes easier and more accessible, people are becoming more aware of the foreign exchange industry and the differences in currencies throughout the world.

As a result, more and more people are investing in properties abroad for various purposes such as a second home, a retirement destination or simply an investment to take advantage of the exchange rate.
However, before running off and purchasing an Italian villa, a Bulgarian ski chalet, or a Caribbean beach house, research is essential and there are things you need to know to become an informed buyer.

First, gather some general information on your potential destinations for purchase. Learn the rules and regulations regarding foreign ownership in the places of interest, as some countries such as Switzerland restrict foreign ownership entirely. Also, confirm with the U.S. State Department about the stability and safety of the countries you are considering. Regardless of your plans for the property, you do not want to invest in an unstable environment.

Buying property overseas is a complicated procedure and requires additional expertise. Once you have decided on a specific location, hire a real estate agent who is licensed and has experience with foreign investors in that country. They will be acquainted with related laws and customs that are unfamiliar to you, and will help you avoid costly mistakes and/or illegal transactions. In general, these real estate agents tend to overcharge with commissions reaching as high as 8%. However without their guidance, your potential losses could double or triple your initial cost and you could face a fierce legal battle.

When investing in property overseas, investors should expect to pay cash. Financing mechanisms such as mortgages are not as sophisticated as they are in the United States. It is unlikely to find dozens of mortgage lenders offering loans, especially in countries such as Mexico, Greece, Spain and those in Eastern Europe. If paying full in cash is not an option, check out English-speaking countries and former colonies like Singapore, South Africa, or Hong Kong. Yet even in these countries a deposit of at least 40% is required. These laws are designed to alleviate fears of investors skipping the country and defaulting on payments





When buying property in America, you receive a warranty title stating that you are the owner of the property. However, when buying property overseas, you do not always receive such a title and the distinction of ownership of the property isn’t always as clear. It all depends on the location and the country involved. Boundaries all over the world have shifted so it's quite possible that once you buy property, someone who is several generations removed from the original owner could make a claim on the land. This is especially true in Eastern Europe where World War II redrew many borders. To avoid any complications, enlist the help of a notary. Notaries specialize in verifying legal documents and can assist you in reading the title history to see if there are any gaps in the property’s history or numerous property claims in the past.

Being a knowledgeable and informed investor is crucial when purchasing real estate abroad. It is risky and not recommended for all investors. But in the right situation and after taking the right steps, investing overseas can be extremely profitable and well worth the time and effort.

Philippines Light Rail Transit Public Transportation

The Manila Light Rail Transit System (Filipino: Sistema ng Magaan na Riles Panlulan ng Maynila),[citation needed] popularly known as the LRT, is a metropolitan rail system serving the Metro Manila area in the Philippines. Its twenty-nine stations over 28.8 kilometers (17.9 mi) of mostly elevated track form two lines. LRT Line 1, also called the Yellow Line, opened in 1984 and travels a north–south route. LRT Line 2, the Purple Line, was completed in 2004 and runs east–west.

The LRT is operated by the Light Rail Transit Authority (LRTA), a government-owned and controlled corporation under the authority of the Department of Transportation and Communications (DOTC). Along with the Manila Metro Rail Transit System (MRT, also called the Blue Line), and the Philippine National Railways (PNR), the LRT is part of Metro Manila's rail transportation infrastructure known as the Strong Republic Transit System (SRTS)

Stations

Santolan Recto Baclaran Monumento Cubao

The People Power Revolution was a series of nonviolent and prayerful mass street demonstrations in the Philippines that occurred in 1986. It was the inspiration for subsequent non-violent demonstrations around the world including those that ended the communist dictatorships of Eastern Europe.

A glimpse of Philippine culture through traditional dances and songs performed by some of the country's best dance groups.

In 1990, it was voted by the BMW Tropical Beach Handbook as one of the best beaches in the world

Barasoain Church (also known as Our Lady of Mt. Carmel Parish) is a Roman Catholic church built in 1630 in Malolos City, Bulacan.

Laguna de Bay (Filipino: Lawa ng Bay; English: Laguna de Bay is the largest lake in the Philippines and the third largest freshwater lake in Southeast Asia

Malacañan Palace, is the official residence of the President of the Philippines.