2 Bedroom Condo for sale in Punta Engaño, Cebu, Lapu-Lapu, Cebu
Cebu, Philippines
Guide Price
$442,478
25,000,000 PHP
PROPERTY TYPE
condo
BEDROOMS
2
BATHROOMS
2
Description
Luxury Oceanfront Living at The Reef Island Resort, Mactan – Your Turnkey Paradise Awaits!
Experience the epitome of sophisticated island living at The Reef Island Resort, Mactan. This brand-new, fully upgraded 126 sqm unit, complete with a sprawling balcony and mesmerizing sea views, offers an unparalleled blend of luxury and convenience.
Ready for You:
Turnkey Elegance: Move in seamlessly to a meticulously designed space, fully furnished with brand-new, premium furniture. Every detail has been carefully considered, from high-end furnishings to a complete set of household essentials, including utensils, plates, towels, bedsheets, and even a washing machine.
Unobstructed Ocean Views: Enjoy breathtaking panoramic sea views from your spacious balcony, creating a tranquil and inspiring living environment.
Dedicated Parking: Benefit from the convenience of one dedicated parking space, ensuring effortless access to your luxurious residence.
World-Class
Amenities: Indulge in the resort’s exceptional amenities, including infinity pools, private beach access, state-of-the-art fitness centers, and exquisite fine dining options.
Property Details:
Unit Size: 126 square meters (including balcony)
Parking: One (1) dedicated parking space
Condition: Upgraded SMEG appliances
Furnishings: Fully fitted and furnished with brand-new, high-quality furniture.
Inclusions: Complete set of utensils, plates, towels, bedsheets, and a washing machine fit out.
Asking Price: Php 25,000,000.00 (Twenty-Five Million Philippine Pesos)
Flexible
Payment Terms:
We are pleased to offer a flexible 5-year payment term.
3% required down payment.
A Lifestyle of Unparalleled Luxury:
This luxurious residence at The Reef Island Resort is more than just a condo; it’s an exceptional living experience. Whether you seek a primary residence, a serene vacation retreat, or a lucrative investment property, this unit embodies sophistication and exclusivity, offering the perfect balance of relaxation and modern convenience.
Don’t miss this opportunity to own your slice of paradise in Mactan’s most coveted beachfront community!
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
Wendy Wilson
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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