Condo for sale in Mactan, Cebu, Lapu-Lapu, Cebu
Cebu, Philippines
Guide Price
$203,540
11,500,000 PHP
PROPERTY TYPE
condo
BEDROOMS
1
BATHROOMS
1
Description
Appealing Fully-Furnished 22nd floor Studio Unit in The Reef Residences | Mactan Cebu
Key
Features:
* 52-sqm High-Ceiling Unit with Modern Style
* With Extended balcony --- Additional 7-sqm of balcony
* Views of the Olango Island, Hilutungan Channel, Sea View and the Morning Sun
* Fully-furnished unit on the 22nd floor
The Reef Mactan Residences are located 9 kilometers from Mactan International Airport on the north east side of the island and is bordered on the south by Crimson Resort and to the north by Mactan Newtown and Shangri-La.
The development is a two-tower project. The main building is 25 stories and houses the residences, the restaurant, the bakery, the spa, the bar, gym, infinity pool, and hotel lobby. The 18 story Abaca Boutique Hotel is located in the second tower just south of the residential building.
The majority of residence units are ocean facing and have a glass wall that are east facing to seamlessly blend the indoor and outdoor space. With the restaurant, bar, and hotel fully now operational, the residences have become one of my favorite places to live and as of 2023, would be my personal top choice for a personal residence in Cebu.
Property & Developer Details:
The hotel, restaurant, bakery, and bar are all managed in partnership with the Abaca group.
The developer is Land Caster Estates.
The architects and designers: Budji Layug+ Royal Pineda with input from Kenneth Cobonpue
Other Important Information:
Condo dues are 90 pesos per sq m.
There is a current shortage of designated parking spaces and there is currently a waitlist.
As part of the development plan the developer plans on constructing a multistory parking garage as well as additional residential villas. It would be situated on the open lot on the west side of the building that is currently used as a parking lot
A future rooftop bar is a part of the development plan; however we are not aware of the completion date.
There currently is a concrete barrier that jetties out into the water in the beach area which they will be removing in the near future; however we are not aware of the completion date.
Contact us directly at Haller International Realty for more information on this listing and for a free consultation. You’ll only learn what you need to know if you call or contact us, and we are always here to help. Don't forget to view the 360 virtual tour to walk through the property. 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
Haller International Realty
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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