MANILA – If you are looking to buy a house in Cebu City, Tagaytay, or Baguio, expect to pay more. In fact, way more, as landed properties in these cities is some of the most expensive anywhere outside Metro Manila.
Using data from its 90,000-plus property listings, real estate marketplace Lamudi Philippines has compiled a list of the most expensive cities outside Metro Manila to buy a home based on median price. As expected, popular cities like Cebu and Davao made the cut, but there are a few surprises as well.
- Cebu City
Median house price: P8.5 million
Number of listed houses: 779
Most expensive house listed: P150 million
Cebu has long been the Philippines’ second most important city, and is home to about 80 percent of the country’s domestic shipping companies. It is also the tourist gateway to central and southern Philippines, so homebuyers can enjoy proximity to both white-sand beaches and the central business district. This makes Cebu’s residential real estate the most expensive outside Metro Manila. Homes here can go as high as P150 million, rivaling the pricey homes found in Makati or San Juan. There are 149 homes currently listed in Lamudi that have asking prices of P20 million or higher.
- Tagaytay
Median house price: P8.115 million
Number of listed houses: 232
Most expensive house listed: P53 million
Tagaytay is known for its spectacular views, sweater weather, and some pricey pieces of real estate. Some of the city’s most expensive houses—those with views of the nearby Taal Lake and Volcano—can go as high as P53 million. At the moment there are 47 houses listed in Lamudi for P20 million and above.
- Baguio
Median house price: P7.5 million
Number of listed houses: 388
Most expensive house listed: P95 million
Baguio has been one of the Philippines’ most popular summer destinations since the 1950s. Vacation or second homes are quite numerous—and expensive—here. A quaint lodge here with a fireplace and eight bedrooms can go as high as P95 million. However, buyers here have plenty of inventories to choose from, with 388 properties currently listed on Lamudi and 147 on offer for P10 million or higher.
- Angeles
Median house price: P4.5 million
Number of listed houses: 198
Most expensive house listed: P45 million
Although Angeles was significantly affected by the closure of the Clark Air Base, the city rebounded quite impressively after the creation of the Clark Special Economic Zone, which saw it transformed into a business, industry, aviation, and tourism hub. Angeles is also Central Luzon’s most expensive housing market, with more than 40 properties now on the market having asking prices of P10 million or higher.
- Cagayan de Oro
Median house price: P4.3 million
Number of listed houses: 274
Most expensive house listed: P32 million
Cagayan de Oro is one of Mindanao’s most popular tourist destinations, and now is an emerging location for business process outsourcing (BPO) companies, making the city one of the most progressive and competitive in the Philippines. Houses in Cagayan de Oro can go as high as P32 million, such as a nine-bedroom house in a golf resort and community. At present there are 49 houses listed in Lamudi that have asking prices of P10 million and higher.
- Davao City
Median house price: P4.137 million
Number of listed houses: 615
Most expensive house listed: P48 million
Davao City is also quite renowned for its buoyant economy and attractive real estate market. National property developers, such as Ayala Land and Megaworld, have launched projects here, from high-end condos to mixed-use townships. But houses here are a big draw card for buyers, with some costing more than P40 million, and 116 inventories have asking prices of P10 million and up.
- Bacolod
Median house price: P3.8 million
Number of listed houses: 522
Most expensive house listed: P50 million
The last city in this list, Bacolod ranks third nationally among the best Philippine locations for BPO and offshoring companies, which is part of the reasons its real estate is so highly sought after. Houses along the city’s main artery Lacson Street can go as high as P50 million, while newly built ones in exclusive gated communities like Town and Country and Santa Clara Subdivision have asking prices of more than P20 million. Currently there are 98 inventories listed in Lamudi for P10 million or higher. (Lamudi via Mindanao Examiner)
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