1 Bedroom Condo for sale in Mactan, Cebu, Lapu-Lapu, Cebu
Cebu, Philippines
Guide Price
$353,982
20,000,000 PHP
PROPERTY TYPE
condo
BEDROOMS
1
BATHROOMS
1
Description
The Reef is a 22-story beachfront luxury condo, which offers first-class amenities, total luxury lifestyle living. The unit has glass walls, glass railings, and glass sliding doors facing the sea (east). The balcony extends the living space outdoors. A full range of aqua sports
facilities (jet ski, speed boats, wakeboarding, kayak, hobby cat sail, water playgrounds, etc.) will be offered as basic features. An award-winning restaurant/ café will be operating in the lobby. Abaca group is renowned to be one of the best restaurants in the country and even in Asia. They will operate a boutique hotel with function rooms, a gym, spa, and sky lounge bar. The pool, a huge infinity type overlooks the sea. There is a lounge area on the boardwalk that directly connects to the beachfront/sea.
The Reef Residences
Amenities:
Beachfront boardwalk with outdoor cafe
Wide 250-meter seafront
Ample parking spaces for all units
24-Hour Security
All units with wide, spacious balconies facing the sea
24-Hour Standby Full Generator
Interior gardens, open facades, reflecting pools in the lobby
Large 274 square meter infinity pool facing the sea
Water sports
facilities: Jetskis, speedboat, kayak, water park, hobie cat sail, banana boat, wakeboards
Mini movie theater
Parking slots for jetski and speedboat owners
Units include built-in split type aircon
All units with full kitchen cabinets, wardrobe cabinets, cook top and hood
Glass walls facing the sea with glass balcony railings
Ramp for launching jet skis and speedboats
Helipad
High-speed elevators
Abaca Reef Hotel Telephone number: View Phone
Location
Open in Google MapsLiving in Cebu
Island-hopping on weekends, karaoke as a national religion, and a Filipino hospitality so genuine that you will be adopted by your neighbor's entire extended family before your first month is over.
Visa
SRRV (Special Resident Retiree Visa) — available from age 40+. Requires $15,000-50,000 deposit depending on age and pension status. Grants indefinite stay with multiple-entry privileges. SIRV (Special Investor Resident Visa) — requires $75,000 investment in Philippine securities. No age minimum. Both offer permanent residency.
Learn more: The Complete Guide to Moving to the Philippines→Key Fact
English is an official language and widely spoken — making the Philippines the easiest Asian country for American expats to navigate daily life. Private healthcare is excellent and affordable, but infrastructure outside Manila can be underdeveloped.
Learn more: The Cheapest Cities to Live Abroad→Philippines at a glance
How Philippines scores for American expats
Cost of buying in Philippines
Estimated fees and ongoing costs for this property
Closing Costs
5-8% of purchase price
- ·Transfer tax: 0.5-0.75%
- ·Documentary stamp: 1.5%
- ·Capital gains tax: 6% (seller, but often negotiated)
- ·Registration: ~0.25%
- ·Notary: ~0.5%
Annual Costs
Property Tax
1-2% of assessed value (varies by city)
Insurance
₱5,000-15,000/yr
HOA / Condo Fees
₱3,000-10,000/mo for condos
Good to Know
Agent Fees
Seller pays (3-5%)
Foreign Buyer Note
Foreigners CANNOT own land. Can own condo units (max 40% foreign quota per building). Houses possible via long-term lease or Filipino spouse.
Legal help in Philippines
Hire your own attorney — not the seller's. We'll match you with a vetted local lawyer.
Need a local attorney in Philippines?
We'll connect you with an independent, English-speaking real estate attorney experienced with foreign buyers. Not the seller's lawyer — yours.
Contact Agent
1st Cebu Homes Property Management & Realty Corp.
Next steps for moving to Philippines
Interested in this property? Here's how to move forward.
Understand the buying rules
Foreign ownership laws vary wildly by country. Some welcome you, others restrict or ban foreign buyers entirely.
Sort out your visa
Owning property doesn't give you the right to live there. Research residency options before you buy.
Plan your finances
Understand currency risk, international wire transfers, and whether you can get a local mortgage.
Know your tax obligations
US citizens are taxed on worldwide income. You'll need to file US taxes from abroad and may owe local taxes too.
Set up healthcare
Medicare doesn't cover you overseas. You'll need international health insurance or a local plan.
Run the full checklist
Banking, mail forwarding, power of attorney, pet import rules — the complete pre-move checklist.
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