No. A foreigner can not buy land in the Philippines because Philippine law prohibits it. The Philippine Constitution, the highest law in the Philippines to which other laws must conform provides that no private lands shall be transferred or conveyed except to individuals, corporations, or associations qualified to acquire or hold lands of the public domain.
Any sale or transfer in violation of the prohibition is null and void.
There was this decision by the Philippine Supreme Court where it held that in as much as the petitioner is an alien (foreigner), he is disqualified from acquiring and owning lands in the Philippines. The sale of 3 parcels of land was null and void. Neither can the petitioner recover the money he had spent for the purchase thereof. Equity, as a rule, will follow the law, and will not permit to be done indirectly that which, because of public policy, can not be done directly.
Can a former Filipino citizen own land in the Philippines?
Yes. A Natural-born citizen of the Philippines who has lost his Philippine
citizenship may be a transferee of private lands subject to limitations provided
by Philippine law.
In one case, the Philippine supreme held that even if private respondents were
already Canadians when they applied for registration of the properties in question, there could be no legal impediment for the registration thereof, considering that it is undisputed that they were formerly natural-born Filipino citizens.
Note that under Philippine law, natural-born Filipino citizen may acquire to the maximum area of private land to 5,000 square meters for urban land and 3 hectares for rural land.
Can A Foreigner Own Land In The Philippines?
Yes. By Inheritance.
Can A naturalized US Citizen buy property in the Philippines?
Yes. except land.
Note that a foreigner or an alien who was able to buy land in the Philippines but
such an alien, later on, becomes a naturalized Filipino citizen, there would no longer be any public policy to be served in allowing recovery of the property.