Authored by the expert who managed and guided the team behind the Philippines Property Pack
Yes, the analysis of Cebu's property market is included in our pack
Cebu is one of the most popular destinations for foreign property buyers in the Philippines, thanks to its mix of urban convenience and coastal lifestyle.
This guide breaks down real apartment prices in Cebu as of January 2026, from studio units to three-bedroom condos, plus all the extra costs you need to budget for.
We constantly update this blog post to reflect the latest market data and price movements.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Cebu.
Insights
- At around ₱150,000 per square meter (roughly $2,600 or €2,400), Cebu condos are priced 40% to 60% lower than comparable units in Metro Manila, making it one of the best value markets in the Philippines for foreign buyers.
- Foreigners in Cebu buy condominiums rather than houses because Philippine law restricts land ownership, and each condo project has a 40% foreign ownership cap that you should verify before signing anything.
- New developer units in Cebu typically cost 10% to 20% more than resale condos, partly because many new listings include the 12% VAT in the sticker price.
- Monthly condo dues in Cebu run between ₱80 and ₱150 per square meter, so a 45-square-meter one-bedroom could cost you ₱3,600 to ₱6,750 monthly just in association fees.
- Electricity is the biggest utility expense for Cebu apartment owners, with Visayan Electric charging around ₱11.26 per kWh in early 2026, which translates to roughly ₱2,250 to ₱3,950 per month for typical condo usage.
- Buyer closing costs in Cebu generally add 3% to 4% on top of the purchase price for resale units, covering documentary stamp tax, local transfer tax, and registration fees.
- The IT Park and Lahug corridor in Cebu City shows the fastest price appreciation because of strong rental demand from the tech and BPO sector workers who cluster there.
- Mactan beachfront condos can reach ₱300,000 to ₱400,000 per square meter ($5,200 to $6,900 or €4,800 to €6,450), nearly triple the price of mid-market Cebu City units.
- Annual property tax on a mainstream Cebu condo typically runs between ₱20,000 and ₱45,000 ($350 to $775 or €320 to €725), calculated on the assessed value rather than your purchase price.
- Budget-conscious first-time buyers often focus on Mabolo, which offers good access to SM City Cebu and has a wide range of older resale inventory at ₱80,000 to ₱160,000 per square meter.
How much do apartments really cost in Cebu in 2026?
Before we get into the numbers, a quick note for foreign buyers: when people talk about buying an "apartment" in Cebu, they almost always mean a condominium unit, and this is actually the standard legal path for foreigners since Philippine law restricts land ownership but allows condo purchases (up to 40% of a project's total units).
What's the average and median apartment price in Cebu in 2026?
As of January 2026, the median asking price for condominiums in Cebu sits at approximately ₱150,000 per square meter (around $2,600 or €2,400 per square meter), while the average asking price runs slightly higher at roughly ₱175,000 per square meter ($3,000 or €2,800) because luxury and beachfront properties pull the average upward.
To put that in perspective, the typical price range you will actually encounter for standard Cebu condos falls between ₱120,000 and ₱220,000 per square meter ($2,070 to $3,800 or €1,940 to €3,550 per square meter), though prime outliers in top towers or beachfront locations can push ₱300,000 to ₱400,000 per square meter.
For a practical planning number in 2026, ₱150,000 per square meter (about $2,600 or €2,400) is the most useful anchor when budgeting for a mainstream Cebu condo purchase.
How much is a studio apartment in Cebu in 2026?
As of January 2026, a typical studio condominium in Cebu costs between ₱3.3 million and ₱4.8 million ($57,000 to $83,000 or €53,000 to €77,000) for a mainstream unit in a decent location with standard amenities.
Budget studios in outer areas or older buildings start around ₱2.8 million to ₱3.8 million ($48,000 to $66,000 or €45,000 to €61,000), while prime studio units in Banilad or Lahug premium towers can run ₱5.0 million to ₱9.0 million ($86,000 to $155,000 or €81,000 to €145,000) or even higher.
Studio apartments in Cebu typically measure between 22 and 30 square meters, which is fairly standard for the Philippine market.
How much is a one-bedroom apartment in Cebu in 2026?
As of January 2026, a typical one-bedroom condominium in Cebu costs between ₱5.3 million and ₱7.5 million ($91,000 to $129,000 or €85,000 to €121,000) for a mainstream unit with good amenities and location.
Budget one-bedroom units in less central areas start around ₱4.5 million to ₱6.0 million ($78,000 to $103,000 or €73,000 to €97,000), while prime one-bedroom condos in top Cebu City towers or near IT Park can reach ₱8.0 million to ₱14.0 million ($138,000 to $241,000 or €129,000 to €226,000).
One-bedroom apartments in Cebu typically range from 35 to 50 square meters, giving you enough space for a proper living area separate from the bedroom.
How much is a two-bedroom apartment in Cebu in 2026?
As of January 2026, a typical two-bedroom condominium in Cebu costs between ₱8.5 million and ₱12.5 million ($147,000 to $216,000 or €137,000 to €202,000) for a mainstream unit suitable for a small family or couple wanting extra space.
Budget two-bedroom units start around ₱7.0 million to ₱9.5 million ($121,000 to $164,000 or €113,000 to €153,000), while prime two-bedroom condos in luxury towers or Mactan beachfront developments can reach ₱13.0 million to ₱25.0 million ($224,000 to $431,000 or €210,000 to €403,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Cebu.
How much is a three-bedroom apartment in Cebu in 2026?
As of January 2026, a typical three-bedroom condominium in Cebu costs between ₱14 million and ₱22 million ($241,000 to $379,000 or €226,000 to €355,000) for a mainstream unit in a well-located tower with good amenities.
Upper-end and luxury three-bedroom condos, especially in premium towers or branded developments, can range from ₱25 million to ₱50 million ($431,000 to $862,000 or €403,000 to €806,000) or even higher depending on the specific building and views.
Three-bedroom apartments in Cebu typically measure between 90 and 150 square meters, and inventory at this size becomes quite building-specific since not all towers offer larger units.
What's the price gap between new and resale apartments in Cebu in 2026?
As of January 2026, new developer condos in Cebu typically cost 10% to 20% more per square meter than comparable resale units in the same general area, partly because many new listings include the 12% VAT in the advertised price.
New-build apartments in Cebu generally ask around ₱165,000 to ₱200,000 per square meter ($2,850 to $3,450 or €2,660 to €3,230 per square meter) depending on the developer and location, with preselling units sometimes priced at a slight discount to turnover-ready ones.
Resale apartments in Cebu typically trade around ₱120,000 to ₱160,000 per square meter ($2,070 to $2,760 or €1,940 to €2,580 per square meter), though prime resale units in sought-after buildings can match or exceed new-build pricing.
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Can I afford to buy in Cebu in 2026?
What's the typical total budget (all-in) to buy an apartment in Cebu in 2026?
As of January 2026, buyers should plan for the purchase price plus approximately 3% to 4% in closing costs for a resale condo in Cebu, which means a ₱6.5 million unit ($112,000 or €105,000) would require an all-in budget of around ₱6.73 million ($116,000 or €109,000) before any furnishing expenses.
The main cost categories beyond the purchase price in Cebu include documentary stamp tax, local transfer tax (commonly 0.75% in Cebu City), Registry of Deeds fees, notary charges, and if you are financing, bank appraisal and mortgage registration costs.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Cebu property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Cebu.
What down payment is typical to buy in Cebu in 2026?
As of January 2026, the typical down payment for a Cebu condo is around 20% of the purchase price, which means a ₱6.5 million unit ($112,000 or €105,000) would require approximately ₱1.3 million ($22,400 or €21,000) upfront.
Most Philippine banks, including major lenders like BDO, typically lend up to 80% of the property value, making 20% down the practical minimum for most buyers.
To secure favorable mortgage terms and potentially better interest rates, a 25% to 30% down payment is recommended, though this depends on your income documentation and the specific bank's requirements.
You can also read our latest update about mortgage and interest rates in The Philippines.
We made this infographic to show you how property prices in the Philippines compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Cebu in 2026?
How much does the price per m² for apartments vary by neighborhood in Cebu in 2026?
As of January 2026, the price per square meter for condos in Cebu varies dramatically from around ₱80,000 per square meter ($1,380 or €1,290) in mid-market areas to over ₱400,000 per square meter ($6,900 or €6,450) for premium beachfront or luxury tower units.
The most affordable neighborhoods for condo buyers in Cebu include Mabolo, outer Lahug, and parts of Mandaue-side Banilad, where you can find units priced between ₱80,000 and ₱160,000 per square meter ($1,380 to $2,760 or €1,290 to €2,580 per square meter) depending on building age and condition.
The most expensive neighborhoods in Cebu are premium Banilad, the IT Park and Lahug corridor, Cebu Business Park-adjacent areas, and Mactan beachfront zones like Punta Engaño, where prices often range from ₱200,000 to ₱400,000 per square meter ($3,450 to $6,900 or €3,230 to €6,450 per square meter).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Cebu.
What neighborhoods are best for first-time buyers on a budget in Cebu in 2026?
As of January 2026, the top three neighborhoods for budget-conscious first-time condo buyers in Cebu are Mabolo, outer Lahug near the Apas edges, and Mandaue-side Banilad, where resale inventory is plentiful and prices remain accessible.
In these budget-friendly Cebu neighborhoods, typical apartment prices range from ₱3.5 million to ₱7.0 million ($60,000 to $121,000 or €56,000 to €113,000) for studios and one-bedroom units, making them realistic targets for first-time buyers.
These neighborhoods offer practical amenities like proximity to SM City Cebu in Mabolo, reasonable access to IT Park jobs from outer Lahug, and a mix of restaurants and shops along the Mandaue-Banilad corridor.
The main trade-off in these budget-friendly areas is that you may be buying in older buildings with dated finishes, and traffic congestion can be heavier than in more premium, pedestrian-friendly developments.
Which neighborhoods have the fastest-rising apartment prices in Cebu in 2026?
As of January 2026, the three neighborhoods with the fastest-rising apartment prices in Cebu are the IT Park and Lahug-Apas corridor, premium Banilad near new mixed-use developments, and Mactan's prime coastal pockets around Punta Engaño and branded resort areas.
Year-over-year price growth in these fast-appreciating Cebu neighborhoods has been running in the 8% to 15% range, though exact figures vary building by building since Cebu does not publish official neighborhood price indices.
The main driver behind rapid price growth in these areas is strong structural demand, with IT Park benefiting from tech and BPO job concentration, Banilad seeing new landmark projects reset price anchors, and Mactan coastal areas attracting tourism and second-home buyers.
You can also read our latest update about property price forecasts in Cebu.
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What extra costs will I pay on top of the apartment price in Cebu in 2026?
What are all the buyer closing costs when you buy an apartment in Cebu?
For a typical ₱6.5 million condo purchase in Cebu, estimated buyer closing costs run approximately ₱195,000 to ₱260,000 ($3,360 to $4,480 or €3,150 to €4,190), covering all the standard taxes and fees required to complete the transfer.
The main categories of closing costs for Cebu condo buyers include documentary stamp tax, local transfer tax (commonly 0.75% in Cebu City), Registry of Deeds registration and documentary fees, notary charges, and if financing, bank appraisal and mortgage registration costs.
Documentary stamp tax is typically the largest single closing expense for buyers in Cebu, calculated as a percentage of the property's selling price or zonal value, whichever is higher.
Some closing costs in Cebu are negotiable or can vary between transactions, particularly notary fees and certain administrative charges, so it is worth getting quotes from multiple service providers.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Cebu?
Buyers in Cebu should budget approximately 3% to 4% of the purchase price for closing costs on a typical resale condo transaction, which covers all standard government taxes and processing fees.
The realistic range spans from about 2.5% for straightforward transactions with minimal complications to 5% or more if the purchase involves new developer units where VAT or additional charges may apply separately.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Cebu.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in the Philippines versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the ongoing monthly and yearly costs of an apartment in Cebu in 2026?
What are typical HOA fees in Cebu right now?
Condominium association dues in Cebu are typically charged per square meter per month, with most buildings in early 2026 charging between ₱80 and ₱150 per square meter ($1.40 to $2.60 or €1.30 to €2.40), meaning a 45-square-meter one-bedroom unit would cost roughly ₱3,600 to ₱6,750 per month ($62 to $116 or €58 to €109) in dues alone.
The range of HOA fees in Cebu varies from around ₱60 per square meter in basic older buildings to ₱200 per square meter or more in luxury high-rise towers with premium amenities like pools, gyms, and 24-hour concierge services.
What utilities should I budget monthly in Cebu right now?
The estimated total monthly utility cost for a typical condo in Cebu runs between ₱4,500 and ₱7,500 ($78 to $129 or €73 to €121) for a one to two person household, covering electricity, water, and internet.
This range can vary from around ₱3,500 ($60 or €56) for a small studio with minimal air conditioning use to ₱10,000 or more ($172 or €161) for larger units with heavy appliance usage or multiple occupants.
The specific utilities included in a typical Cebu condo budget are electricity (the biggest expense), water from MCWD, and internet service, with electricity alone often accounting for 60% to 70% of the total.
Electricity is by far the most expensive utility for Cebu apartment owners, with Visayan Electric charging around ₱11.26 per kWh in early 2026, which means typical consumption of 200 to 350 kWh per month translates to roughly ₱2,250 to ₱3,950 ($39 to $68 or €36 to €64) in power bills.
How much is property tax on apartments in Cebu?
The estimated typical annual property tax for a mainstream condo in Cebu runs between ₱20,000 and ₱45,000 ($345 to $775 or €323 to €726), though this depends heavily on the assessed value assigned by the city assessor rather than your actual purchase price.
Property tax in Cebu is calculated on the assessed value of your unit, with the basic real property tax rate capped at up to 2% for cities under the Local Government Code, plus a common 1% Special Education Fund levy, meaning effective rates can reach up to 3% of assessed value annually.
The realistic range of annual property tax in Cebu spans from around ₱10,000 ($172 or €161) for smaller studios with lower assessments to ₱80,000 or more ($1,380 or €1,290) for larger premium units in high-value buildings.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Cebu.
What's the yearly building maintenance cost in Cebu?
The estimated typical yearly building maintenance cost for Cebu condo owners, beyond regular association dues, runs roughly 0.5% to 1.0% of your unit's value per year, which for a ₱6.5 million condo translates to approximately ₱32,500 to ₱65,000 ($560 to $1,120 or €524 to €1,048) annually as a long-run average.
This range can vary from near zero in years when nothing breaks to significantly higher in years requiring major appliance replacements or interior renovations, so it is best to budget conservatively.
Typical building maintenance expenses for Cebu condo owners include interior upkeep, appliance repairs and replacements, air conditioning servicing, and occasional repainting or fixture updates.
In most Cebu condos, building maintenance for common areas (elevators, hallways, pools, security) is already included in your monthly HOA dues, while the maintenance budget described above covers your unit's interior and personal appliances.
How much does home insurance cost in Cebu?
The estimated typical annual home insurance cost for a condo in Cebu ranges from ₱6,000 to ₱25,000 ($103 to $431 or €97 to €403) for most owner-occupiers, depending on coverage level and whether you add catastrophe riders for typhoons, floods, or earthquakes.
The realistic range spans from basic contents-only policies at around ₱4,000 to ₱8,000 ($69 to $138 or €65 to €129) annually to comprehensive policies with high coverage limits and multiple catastrophe riders that can exceed ₱30,000 ($517 or €484) per year.
Home insurance is generally optional for Cebu condo owners, though it is strongly recommended given the Philippines' exposure to typhoons and other natural hazards, and some mortgage lenders may require basic coverage as a loan condition.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Cebu, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bangko Sentral ng Pilipinas (BSP) | The Philippine central bank publishing its own benchmark policy rate. | We used it to anchor the early 2026 interest rate context for mortgage pricing. We kept this as background since banks price above the policy rate. |
| BDO Home Loan Starter Guide | A major Philippine bank publishing official borrower guidance. | We used it to establish that banks typically lend up to 80% of property value. We translated this into the 20% down payment rule for Cebu buyers. |
| Bureau of Internal Revenue (BIR) | The official tax authority's hub for documentary stamp tax information. | We used it to justify DST as a standard buyer-side cost. We then applied the DST rate to estimate all-in closing cost budgets. |
| Local Government Code (RA 7160) | The full text of Philippine law governing local property taxation. | We used it to explain how property tax rates are set at the local level. We then estimated annual property tax amounts for typical Cebu condos. |
| Condominium Act (RA 4726) | The core Philippine law defining condo ownership and foreign ownership limits. | We used it to explain why foreigners buy condos rather than land. We also used it to advise verifying foreign ownership headroom before purchasing. |
| Dot Property (Lahug Listings) | A major property portal with thousands of active Cebu listings. | We used it to extract real asking prices in a prime Cebu City area. We converted listings to price per square meter for comparability. |
| Dot Property (Banilad Listings) | A live listings database especially useful for premium neighborhoods. | We used it to triangulate upper-end Cebu City asking prices. We used these numbers as the premium neighborhood benchmark. |
| Dot Property (Mabolo Listings) | A major portal with enough listings to see mid-market pricing spreads. | We used it to capture mid-market Cebu City pricing. We also identified listings mentioning VAT to discuss new vs resale pricing. |
| Dot Property (Lapu-Lapu Listings) | A deep pool of Mactan listings where resort pricing is visible. | We used it to show how beachfront pricing differs from city proper. We defined premium coastal vs city-residential price gaps. |
| Visayan Electric (VECO) | The local power utility publishing its official billed rates. | We used it to estimate monthly electricity budgets at early 2026 rates. We translated typical kWh consumption into peso amounts. |
| Philstar (The Freeman) | A major local newsroom reporting on official MCWD rate changes. | We used it to explain why water bills can change. We then provided a practical monthly water budget range. |
| AXA Philippines | A top insurer describing condo-specific coverage in the Philippines. | We used it to define what condo insurance typically covers. We translated this into realistic annual budget estimates. |
| Malayan Insurance | One of the Philippines' biggest insurers offering mainstream home coverage. | We used it as a second insurance reference to avoid single-provider bias. We then gave conservative annual premium estimates. |
| Reuters | A high-reliability outlet quoting senior BSP officials on policy rates. | We used it to establish the early 2026 monetary policy backdrop. We kept the focus on condo costs rather than rate speculation. |
| Respicio & Co. | A Philippine law firm publishing detailed commentary on transfer costs. | We used it to confirm typical closing cost categories and percentages. We cross-referenced their figures with official BIR guidance. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of the Philippines. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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