1 Bedroom Condo for sale in The Reef Island Resort, Mactan, Cebu, Lapu-Lapu, Cebu
Cebu, Philippines
Guide Price
$566,372
32,000,000 PHP
PROPERTY TYPE
condo
BEDROOMS
1
BATHROOMS
3
Description
This elegant 2 bedroom 106sqm condo unit offers a luxurious coastal lifestyle with breathtaking views of the sea. Enjoy the soothing sounds of the ocean from your own private balcony, and relax in the spacious living areas flooded with natural light. The modern kitchen
features high-end appliances and stylish finishes, perfect for entertaining guests. With access to resort-style
amenities and the beach just steps away, this is a true seaside sanctuary that combines comfort and elegance. Don’t miss this opportunity to own your dream coastal retreat located on the 23rd floor of The Reef Island Resort Mactan.
Details:
● 106 sqm
● originally a 2 BDR unit
● 2nd BDR was converted into a larger Living and Entertainment Area
● Maid's Room has a built-in "Murphy Bed" with an Ensuite 2 Pc Powder Room so it could serve as a small 2nd BDR
● Master BDR has an Ensuite with soaker tub, shower, "floating" toilet and sink
● bamboo hardwood flooring throughout
● bamboo ceiling throughout Living Room, Entertainment Area and Kitchen
● there is a third 3 Pc Bathroom off the Entertainment Area
● custom marble island in Kitchen
● custom lighting throughout
● fabric wall coverings throughout
● built-in cabinetry throughout
● built-in safe
● mature potted balcony plants
● custom furniture throughout
● unit comes fully furnished*
● tandem parking spot included 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
Leohrine Real Estate Brokerage
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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