What is the average price per sqm in Panay Island?

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BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Panay Island. If you'd like to learn more about us, you can check our presentation page.

What's the current average price per square meter in Panay Island?

As of September 2025, the average price per square meter in Panay Island ranges from ₱155,000 to ₱160,000 ($2,750 to $2,850) for modern condominiums in prime locations like Iloilo City.

Studio condos typically cost ₱4.6M to ₱4.8M for 30 square meters, translating to approximately ₱153,000 to ₱160,000 per square meter. Standard 60-square-meter condos range from ₱9.3M to ₱9.6M, maintaining similar per-square-meter pricing.

The price variation depends heavily on property type and location, with beachfront properties near Boracay commanding different rates due to their tourism potential. Commercial spaces in central business districts typically range from ₱55,000 to ₱183,000 per square meter depending on the specific location and building quality.

Modern apartments in secondary cities like Roxas City offer slightly lower rates, with 75-square-meter units priced between ₱12.4M and ₱12.8M, representing good value for buyers seeking quality properties outside the main urban center.

These prices reflect the current market conditions influenced by ongoing infrastructure development, including the Panay-Guimaras-Negros Bridge project, which is driving increased investor interest in the region.

How do property prices vary between condos, houses, lots, and commercial properties?

Condominium prices in Panay Island represent the premium segment, with studio units starting at ₱4.6M and larger units reaching ₱12.8M for modern 75-square-meter apartments.

Standalone houses show significant price variation based on location and amenities. Beachfront houses near Aklan and Boracay area typically cost ₱6M to ₱7M, while luxury villas in prime beachfront locations exceed ₱27M. Mid-range homes in secondary areas like Capiz province range from ₱3M to ₱5M for 80 to 120 square meters.

Townhouses in master-planned communities like Pueblo de Panay command premium prices, with 150-square-meter units priced between ₱36M and ₱37.5M due to their modern amenities and strategic locations.

Agricultural and residential lots offer the most affordable entry point, with prices ranging from ₱0.55M to ₱2.75M for larger parcels in rural areas. These lots appeal to buyers planning custom construction or long-term development projects.

Commercial properties vary widely based on location and intended use, with spaces in Iloilo City and Kalibo commanding ₱8.25M to ₱27.5M depending on size and foot traffic potential.

Which areas of Panay Island are the most expensive, budget-friendly, and up-and-coming?

Central Iloilo City represents the most expensive area in Panay Island, with modern condominiums and townhouses commanding premium prices due to excellent infrastructure and business opportunities.

How have average prices changed compared to one year ago and five years ago?

Property prices in Panay Island have increased approximately 5% to 7% over the past year, driven primarily by infrastructure development and increased investor confidence.

The most significant growth occurred in central Iloilo City, where modern condominiums saw price appreciation of 6% to 8% year-over-year. Beachfront properties near Boracay experienced similar growth rates due to recovering tourism demand and limited supply of prime coastal land.

Over the five-year period from 2020 to 2025, Panay Island properties have appreciated at an average annual rate of 6% to 12%, with prime lots in central districts leading the growth. Houses in Iloilo specifically maintained consistent 6% annual appreciation throughout this period.

The Panay-Guimaras-Negros Bridge project announcement significantly impacted price trajectories, with properties along planned transport corridors experiencing accelerated appreciation rates. Secondary cities like Roxas City benefited from spillover demand as buyers sought value alternatives to Iloilo City prices.

Compared to the broader Philippine market, Panay Island has outperformed national averages while maintaining more affordable entry points than Metro Manila or Cebu, making it attractive for both domestic and international buyers seeking growth opportunities.

What's the forecast for property prices in one year, five years, and ten years?

Property prices in Panay Island are expected to increase 4% to 8% over the next year, with continued infrastructure development driving demand across key urban centers.

The five-year outlook appears strongly positive, particularly for properties in Iloilo City and Roxas City. Completion of major infrastructure projects including the Panay-Guimaras-Negros Bridge will likely drive appreciation rates above national averages, with annual growth of 6% to 10% anticipated in prime locations.

Properties positioned along new transport routes and master-planned communities like Pueblo de Panay are expected to experience the strongest appreciation during this period. Beachfront properties may see continued premium pricing due to limited supply and growing eco-tourism demand.

The ten-year forecast shows exceptional potential for urban centers and sustainable beachfront developments. Climate resilience will become increasingly important, with elevated properties and flood-safe areas commanding premium valuations over time.

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How do Panay Island property prices compare with other Philippine cities and islands?

Panay Island property prices remain significantly below Metro Manila and Cebu City levels, offering excellent value for buyers seeking quality properties in developing markets.

Studio condominiums in Panay Island cost ₱4.6M to ₱4.8M compared to similar units in Bacolod ranging ₱5.8M to ₱8.2M, representing savings of approximately 20% to 40%. Modern apartments show even greater value differentials when compared to established metro areas.

Compared to Davao and other major Visayan cities outside Cebu, Panay Island prices are competitive or slightly lower while offering superior growth prospects due to ongoing infrastructure investment. The island's strategic location and tourism potential provide additional investment advantages.

Negros Island properties command higher prices in prime areas, with similar beachfront houses costing 15% to 25% more than comparable Panay Island properties. This price differential makes Panay Island particularly attractive for buyers seeking coastal properties with appreciation potential.

The value proposition becomes especially compelling when considering rental yields, with Panay Island properties generating 6% to 15% annual returns compared to 4% to 8% in more established markets like Metro Manila.

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What are typical purchase prices for different property types and areas with concrete examples?

Iloilo City studio condominiums typically cost ₱4.8M for 30 square meters in modern buildings with amenities like swimming pools and security systems.

1. Iloilo City Modern Condo (60 sqm): ₱9.5M with parking, gym access, and prime business district location
2. Pueblo de Panay Townhouse (150 sqm): ₱37M in master-planned community with golf course access and modern infrastructure
3. Boracay Area Beachfront House: ₱6.5M for direct beach access property suitable for vacation rentals
4. Roxas City Modern Apartment (75 sqm): ₱12.6M with modern finishes and city center proximity
5. Capiz Province Family Home (100 sqm): ₱4M for traditional design with large lot in residential neighborhood
6. Kalibo Commercial Space (150 sqm): ₱15M near airport with high foot traffic potential
7. Agricultural Land (10,000 sqm): ₱1.5M in rural area suitable for farming or future development

What additional costs should buyers expect including taxes, fees, and closing costs?

Buyers should budget 8% to 10% of the property purchase price for additional costs including taxes, fees, and closing expenses.

Transfer tax ranges from 0.5% to 0.75% of the property value, while registration fees typically cost around 0.8%. Documentary stamp tax adds another 1.5% to the total transaction cost, and notary fees contribute 2% to 3% of the purchase price.

Miscellaneous fees and processing costs can add another 2.5% to 4% of the property value, including legal fees, title insurance, and administrative charges. These costs can increase with complex transactions or properties requiring additional documentation.

For a typical ₱10M property purchase, buyers should expect total additional costs of ₱800,000 to ₱1M. Legal representation is highly recommended and typically costs ₱50,000 to ₱150,000 depending on transaction complexity and property value.

Foreign buyers may face additional requirements and costs related to legal compliance and documentation, making professional legal assistance essential for smooth transactions.

How does financing work including average mortgage terms and monthly costs?

Filipino citizens can access Pag-IBIG housing loans with competitive rates including 1-year repricing at 5.75% and 3-year fixed rates at 6.25%.

Commercial bank mortgage rates typically range from 6.8% to 8.8% effective annual percentage rate, with loan terms spanning 10 to 30 years. Filipino borrowers can typically secure up to 80% loan-to-value ratios, while foreign buyers face stricter requirements and lower LTV ratios.

For a ₱5M property loan at 6.5% interest over 20 years, monthly payments would approximate ₱37,000 ($636). This calculation assumes standard amortization and includes principal and interest components but excludes property insurance and association fees.

Down payment requirements typically range from 20% to 30% of the property value, with some developers offering flexible payment schemes during construction periods. Pre-selling properties often allow staged payments aligned with construction milestones.

Foreign buyers should explore alternative financing options including seller financing, joint ventures with Filipino partners, or offshore financing arrangements, as traditional bank loans may not be available or may carry higher rates and stricter terms.

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What are the best property options for full-time living versus short-term rentals or resale investment?

Full-time residents should prioritize modern condominiums in Iloilo City or quality townhouses in master-planned communities for comfort, security, and access to amenities.

Short-term vacation rental investors achieve the highest returns with beachfront properties near Boracay, where seasonal demand supports 10% to 15% annual yields. Studio and one-bedroom units in tourist areas perform exceptionally well for Airbnb-style rentals, with occupancy rates reaching 70% to 80% during peak seasons.

Long-term rental investors should focus on modern apartments and condominiums in urban centers like Iloilo City and Roxas City, where stable tenant demand generates 6% to 9% annual yields. Properties near universities, business districts, and major employers provide consistent rental income.

Resale investment strategies work best with properties in areas benefiting from infrastructure development. Properties along planned transport routes and in emerging neighborhoods like Pueblo de Panay offer the strongest appreciation potential for capital gains-focused investors.

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What property sizes are most commonly available and how do prices change with size?

Studio condominiums of 30 square meters represent the most common entry-level option, priced at ₱153,000 to ₱160,000 per square meter in prime locations.

Standard residential condominiums typically range from 45 to 75 square meters, with 60-square-meter units being particularly popular among young professionals and small families. These units maintain similar per-square-meter pricing to studios, around ₱155,000 to ₱160,000 per square meter.

Townhouses commonly span 120 to 150 square meters, offering family-friendly layouts with multiple bedrooms and private outdoor space. Per-square-meter costs for townhouses average ₱240,000 to ₱250,000 due to land inclusion and premium community amenities.

Standalone houses show the greatest size variation, from compact 80-square-meter homes to expansive luxury properties exceeding 300 square meters. Smaller houses typically command higher per-square-meter rates, while larger properties offer economies of scale for buyers seeking substantial living space.

Commercial spaces range from small retail units of 50 square meters to large warehouse facilities, with per-square-meter costs decreasing significantly as size increases, particularly for properties exceeding 500 square meters.

Based on today's market what are the smartest property choices for value and long-term potential?

Modern condominiums near central Iloilo City offer the optimal combination of immediate livability, rental income potential, and long-term appreciation prospects.

Properties positioned along infrastructure development corridors, particularly those benefiting from the Panay-Guimaras-Negros Bridge project, represent exceptional value with strong growth catalysts already in place. These locations offer first-mover advantages in emerging high-growth areas.

Master-planned communities like Pueblo de Panay provide superior long-term value through controlled development, quality infrastructure, and community amenities that maintain property values over time. These developments typically appreciate faster than standalone properties due to comprehensive planning and management.

Elevated properties in flood-safe areas will become increasingly valuable as climate resilience gains importance in property valuations. Buyers should prioritize locations with proper drainage, elevation above flood zones, and sustainable development practices.

It's something we develop in our Philippines property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Panay Island Property Market Analysis
2. Philippines Real Estate Forecasts
3. Panay Island Real Estate Market Report
4. Negros Island Price Forecasts
5. OnePropertee Panay Capiz Properties
6. Exiap Property Buying Guide Philippines
7. Moving to Philippines Property Guide
8. Global Property Guide Philippines