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
Buying a condo in Cebu as a foreigner can feel overwhelming when you do not know the real prices, the actual process, or the hidden costs that locals take for granted.
This guide breaks down everything from average prices per square meter to neighborhood comparisons, transaction fees, and what expats actually experience after buying.
We constantly update this blog post with fresh data and insights so you always have the most accurate information available.
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
- Cebu condo inventory life sits at just 2.1 years compared to Metro Manila's 8 years, meaning oversupply risk is significantly lower here and units tend to sell faster.
- The Cebu BRT transit system starting pilot runs in late 2025 is already pushing property values up along its corridor, making condos near future stations particularly attractive for appreciation.
- Around 60% of Cebu condo buyers are end-users looking for homes rather than investors, which creates a more stable demand base than speculative markets elsewhere.
- Cebu welcomed over 5 million visitors in 2024, fueling short-term rental demand in Mactan and Lapu-Lapu where Airbnb-style condos can yield 10 to 12% annually under optimal conditions.
- Land values in Cordova jumped 900% from around 500 pesos to 5,000 pesos per square meter after the CCLEX bridge opened in 2022, showing how infrastructure can transform Cebu property prices overnight.
- Foreigners can legally own condos in Cebu but are capped at 40% of total units per building, and some popular projects are already at or near this limit, so checking availability early is critical.
- Pre-selling condos in central Cebu have increased 7 to 10% in price per square meter compared to 2024, while resale units in prime areas are nearly sold out, creating upward price pressure.
- Office vacancy rates in Cebu Business Park and IT Park dropped to around 16.8% by mid-2025 as BPO firms expanded, directly boosting rental demand for nearby condos.
How much does a condo actually cost in Cebu?
What is the average price per square meter for a condo in Cebu in 2026?
As of early 2026, the average price per square meter for a mainstream condo in Cebu in a good location sits at around 160,000 pesos, which works out to approximately 2,700 US dollars or 2,300 euros.
The realistic price range per square meter for most Cebu condos spans from about 90,000 pesos (1,500 USD or 1,300 EUR) in affordable outer areas up to 200,000 pesos (3,400 USD or 2,900 EUR) in prime districts like IT Park and Cebu Business Park, with luxury properties reaching 450,000 to 650,000 pesos per square meter.
These numbers reflect the market cooling slightly from earlier growth rates, with the BSP Residential Property Price Index showing areas outside Metro Manila still up year-on-year but with momentum slowing significantly in late 2025.
How much does a one-bedroom, a two-bedroom and a three-bedroom condo cost in Cebu in 2026?
As of early 2026, a one-bedroom condo in Cebu typically measuring 30 to 40 square meters costs between 4.8 million and 6.4 million pesos, which translates to roughly 81,000 to 108,000 US dollars or 69,000 to 93,000 euros.
A two-bedroom condo in Cebu, usually ranging from 50 to 70 square meters, will set you back about 8 million to 11.2 million pesos, equivalent to approximately 135,000 to 189,000 USD or 116,000 to 162,000 EUR.
For families needing more space, a three-bedroom condo in Cebu at around 80 to 100 square meters typically costs between 15 million and 20 million pesos, or roughly 250,000 to 340,000 USD and 217,000 to 290,000 EUR, with prices varying based on location and building quality.
By the way, you will find much more detailed price ranges across surfaces and neighborhoods in our Cebu property pack.
What is the cheapest condo a foreigner can buy in Cebu in 2026?
As of early 2026, the cheapest realistic condo option for a foreigner in Cebu starts at around 1.45 million pesos (approximately 24,500 USD or 21,000 EUR) for ultra-budget studios in peri-urban areas, though foreclosed units in Cebu City occasionally appear at bidding starting around 2.8 million pesos.
The most affordable Cebu condos for foreigners are typically small studios in developing areas like Liloan, Consolacion, and Tisa, where projects such as Urban Deca Homes offer lower entry points, but these locations come with longer commutes and fewer amenities compared to central Cebu.
The main trade-offs at this price point include smaller unit sizes (often under 25 square meters), locations outside the city core, older building stock, potential occupancy issues with foreclosed properties, and the critical need to verify that the building's 40% foreign ownership cap has not already been reached.
How much does a luxury condo cost in Cebu in 2026?
As of early 2026, luxury condos in Cebu start at around 620,000 pesos per square meter (approximately 10,500 USD or 9,000 EUR per sqm), meaning a 100-square-meter luxury two-bedroom unit would cost roughly 62 million pesos or just over 1 million US dollars.
Luxury Cebu condos typically feature high-end finishes, panoramic city or sea views, resort-style amenities including infinity pools and private lounges, 24/7 concierge services, branded developer names, and premium locations with easy access to business districts or waterfront areas.
The neighborhoods known for luxury condo options in Cebu include Punta Engano on Mactan Island with its waterfront properties, the Cebu Business Park area near Ayala Center, premium towers in IT Park, and high-end developments in Banilad catering to executives and affluent expats.
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What is the usual price difference between new-build and resale condos in Cebu in 2026?
As of early 2026, new-build condos in Cebu typically cost 10 to 25% more per square meter than comparable resale units in the same area, meaning a new unit at 160,000 pesos per sqm might have a resale equivalent at 128,000 to 145,000 pesos per sqm (roughly 2,200 to 2,450 USD or 1,850 to 2,100 EUR).
One important factor that can significantly narrow this gap in Cebu is the building's age and condition, since older resale condos with dated amenities or deferred maintenance can require substantial renovation costs that offset initial savings, while well-maintained resale units in prime locations sometimes appreciate to match new-build pricing.
Are condo prices rising or falling in Cebu in 2026?
As of early 2026, condo prices in Cebu are still rising year-on-year at around 3 to 5% but the growth has slowed considerably from the 7 to 10% increases seen in 2024, with the BSP's Residential Property Price Index showing areas outside Metro Manila cooling and even posting quarter-on-quarter declines nationally in late 2025.
The main factor driving this softer price environment in Cebu is a combination of higher interest rates making mortgages more expensive, economic slowdown concerns, and increased supply as developers complete projects, though underlying demand from BPO workers and returning tourists continues to absorb inventory.
This price trend is not uniform across Cebu, with prime areas like IT Park and Cebu Business Park holding values better due to strong rental demand, while peripheral locations and oversupplied segments face more price pressure and negotiation room.
You can also read our latest update about property price forecasts in Cebu.
What has been the 5-year condo price trend in Cebu in 2026?
As of early 2026, Cebu condo prices have increased approximately 25 to 35% over the past five years, averaging 5 to 7% annual growth, though this includes a pandemic dip in 2020-2021 followed by strong recovery in 2023-2024.
The peak period for Cebu condo price growth during this five-year span was 2023 to mid-2024, when average prices jumped 7 to 10% annually as post-pandemic demand surged from BPO sector expansion, tourism recovery, and infrastructure completions like the CCLEX bridge that transformed property values in connected areas.
Please note that you will find much more detailed price analyses and forecasts in our property pack covering the real estate market in Cebu.
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.
What extra costs should I expect when buying a condo in Cebu?
What are the total transaction costs when buying a condo in Cebu in 2026?
As of early 2026, total transaction costs when buying a condo in Cebu typically range from 3% to 6.5% of the purchase price on the buyer side, meaning a 6-million-peso condo would have closing costs between 180,000 and 390,000 pesos (approximately 3,000 to 6,600 USD or 2,600 to 5,650 EUR).
The specific fee categories that make up these transaction costs in Cebu include Documentary Stamp Tax at around 1.5% of the transaction value, Local Transfer Tax varying by municipality at roughly 0.5 to 0.75%, Registry of Deeds fees based on a sliding scale, notarial fees, and various incidental charges for certified documents.
The largest single expense for condo buyers in Cebu is typically the Documentary Stamp Tax at 1.5%, though buyers should note that who pays what is often negotiable in the Philippines, and some sellers or developers may agree to split certain costs.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Cebu.
What hidden fees do condo buyers often overlook in Cebu?
The most commonly overlooked fee for Cebu condo buyers is the foreign ownership quota verification cost, since if a building is at or near its 40% foreign cap, you may need to pay a premium for available slots or lose your reservation deposit entirely if you discover the issue too late.
Other hidden fees that frequently surprise first-time condo buyers in Cebu include move-in fees ranging from 5,000 to 20,000 pesos, utility connection deposits of 5,000 to 15,000 pesos, unpaid association dues or special assessments inherited from previous owners, and currency exchange and remittance fees of 1 to 3% for foreign buyers sending funds from abroad.
These hidden fees typically become due at different stages: move-in and utility fees at turnover, outstanding dues discovered during title due diligence, and remittance costs each time you transfer purchase payments from overseas.
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Which neighborhoods are best for buying a condo in Cebu?
What are the most popular neighborhoods for foreign condo buyers in Cebu in 2026?
As of early 2026, the three most popular neighborhoods for foreign condo buyers in Cebu are IT Park in Cebu City, Cebu Business Park near Ayala Center, and Mactan Newtown in Lapu-Lapu City, each attracting different buyer profiles from remote workers to retirees.
What makes these areas particularly attractive to foreign buyers in Cebu is the combination of walkable access to international-standard restaurants and cafes, reliable fiber internet for remote work, proximity to Mactan-Cebu International Airport for frequent travelers, and professional building management that handles maintenance issues without language barriers.
Typical condo prices in these popular foreigner-friendly Cebu neighborhoods range from 140,000 to 200,000 pesos per square meter (2,400 to 3,400 USD or 2,000 to 2,900 EUR per sqm), meaning a one-bedroom unit would cost between 5.5 million and 8 million pesos depending on exact location and building.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Cebu.
Which areas have the cheapest condos in Cebu in 2026?
As of early 2026, the three areas with the cheapest condos in Cebu are Tisa in Cebu City where foreclosed units appear regularly, Liloan on the northern outskirts of Metro Cebu, and Consolacion which offers newer affordable developments for commuters.
Typical condo prices in these cheapest Cebu areas range from 90,000 to 130,000 pesos per square meter (1,500 to 2,200 USD or 1,300 to 1,880 EUR per sqm), with total unit prices for studios and small one-bedrooms starting around 1.5 million to 3.5 million pesos depending on building age and condition.
Which neighborhoods have the best rental demand for condos in Cebu in 2026?
As of early 2026, the three Cebu neighborhoods with the strongest rental demand for condos are IT Park with its concentration of BPO offices, Cebu Business Park near corporate headquarters, and the Mactan resort corridor where tourism drives short-term rental bookings.
Typical rental yields in these high-demand Cebu neighborhoods range from 5 to 7% gross annually for long-term rentals, with well-managed short-term Airbnb-style units in Mactan potentially achieving 8 to 12% under optimal conditions during peak tourist seasons.
The main factor driving rental demand in these Cebu neighborhoods is the clustering effect, where BPO companies expanding in IT Park and Cebu Business Park create a self-reinforcing tenant pool of young professionals who prioritize walkable commutes over lower rents elsewhere, making vacancy periods shorter and rent negotiations less common.
You can also read our detailed analysis about the rental yields for condos in Cebu.
What neighborhoods should I avoid when buying a condo in Cebu in 2026?
As of early 2026, Cebu condo buyers should generally approach with caution any buildings in flood-prone micro-locations even within good districts, projects from developers with unclear track records or delayed turnovers, and foreclosed units marketed as bargains but with unresolved occupancy or possession issues.
The main reason these situations are considered risky for Cebu condo buyers is that problems are often invisible until after purchase: floods may only occur during specific typhoon conditions, weak building management becomes expensive through deferred maintenance and rising dues, and inherited tenant disputes can take months or years to resolve through Philippine courts.
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 is the condo buying process like in Cebu?
What are the steps to buying a condo as a foreigner in Cebu?
The condo buying process for foreigners in Cebu involves approximately six main steps from initial property search through to receiving your Condominium Certificate of Title.
The key steps for foreigners buying a Cebu condo are: first, verify the building's foreign ownership quota is not at the 40% cap; second, pay a reservation fee to hold your chosen unit; third, conduct due diligence on the title, seller identity, and outstanding dues; fourth, sign the Contract to Sell or Deed of Absolute Sale and arrange payments; fifth, complete tax filings including Documentary Stamp Tax at the BIR; and finally, register the transfer at the Registry of Deeds to receive your CCT.
The step that typically takes the longest or causes the most delays in Cebu is the registration phase at the Registry of Deeds, where document queues, annotation requirements, and bureaucratic processing can extend timelines by several weeks depending on workload.
Documents a foreigner must prepare before starting a Cebu condo purchase include a valid passport, Tax Identification Number (TIN) from the BIR, proof of funds or bank statements, and if buying remotely, a properly apostilled Special Power of Attorney naming your local representative.
You can also read our blog article about what foreigners can buy and own in Cebu.
How long does it take to complete a condo purchase in Cebu?
The typical timeframe to complete a Cebu condo purchase from accepted offer to ownership transfer ranges from 4 to 10 weeks for resale units with clean documents, while preselling units from developers can be reserved quickly but actual turnover depends on construction completion which may be 2 to 4 years away.
Factors that can significantly speed up or delay the Cebu condo purchase process include document completeness from the seller, responsiveness of the condo corporation in issuing clearances, BIR processing times for tax payments, and Registry of Deeds workload, with delays often occurring when sellers have missing paperwork or outstanding obligations that must be resolved first.
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What are the ongoing costs of owning a condo in Cebu?
What are the typical recurring monthly condo costs in Cebu in 2026?
As of early 2026, total typical monthly condo costs in Cebu including association dues, sinking fund, and utilities range from approximately 5,000 to 12,000 pesos (85 to 200 USD or 72 to 175 EUR) for a standard one-bedroom unit, varying significantly based on building amenities and personal electricity usage.
Monthly association dues or maintenance fees in Cebu typically range from 50 to 150 pesos per square meter (0.85 to 2.55 USD or 0.72 to 2.17 EUR per sqm), meaning a 35-square-meter one-bedroom would pay between 1,750 and 5,250 pesos monthly depending on whether it is a basic or luxury building.
Monthly sinking fund contributions in Cebu condos are usually included within association dues or charged separately at around 10 to 20% of the base dues amount, with special assessments for major repairs occasionally levied on top when unexpected building work is needed.
Typical monthly utility costs for a Cebu condo range from 3,000 to 8,000 pesos (50 to 135 USD or 43 to 116 EUR) covering electricity, water, and internet, with electricity being the largest variable expense especially for units using air conditioning heavily in Cebu's tropical climate.
What are the typical annual condo ownership costs in Cebu in 2026?
As of early 2026, total typical annual condo ownership costs in Cebu including property tax and insurance range from approximately 15,000 to 40,000 pesos (250 to 680 USD or 217 to 580 EUR) for a standard one-bedroom unit, though this varies considerably based on assessed value and coverage choices.
Annual property tax (Real Property Tax) for Cebu condos is calculated based on the unit's assessed value determined by the local government, with rates varying by municipality but typically resulting in payments of 5,000 to 20,000 pesos annually for mainstream units depending on location and declared valuation.
Annual condo insurance in Cebu covering unit contents and improvements against typhoon, flood, and earthquake damage typically costs between 2,000 and 8,000 pesos (34 to 135 USD or 29 to 116 EUR), with premiums varying by coverage level and insurer, and this protection is strongly recommended given the Philippines' natural disaster exposure.
Other significant annual costs Cebu condo owners should budget for include potential special assessments for major building repairs or upgrades, annual homeowner association meeting fees, and periodic interior maintenance like aircon servicing and repainting which can add another 10,000 to 30,000 pesos over time.
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.
What do expats and locals really say about buying condos in Cebu?
Do most expats regret or recommend buying a condo in Cebu in 2026?
As of early 2026, the general sentiment among expats who have bought condos in Cebu is moderately positive, with most recommending it for lifestyle purposes rather than expecting high investment returns, though satisfaction levels vary significantly based on location choice and building management quality.
The most common reason expats give for recommending Cebu condo ownership is the convenience of managed living with reliable security and maintenance in buildings near IT Park or Cebu Business Park, combined with the ability to lock up and travel knowing the property is professionally watched over, something harder to achieve with standalone houses.
The most common reason expats give for regretting their Cebu condo purchase is discovering too late that their building's management is inefficient or that hidden costs like escalating association dues, unexpected special assessments, and difficult resale due to the foreign ownership cap erode the value proposition they originally calculated.
What unexpected challenges do foreign condo owners face in Cebu?
The most common unexpected challenge foreign condo owners face in Cebu is navigating the 40% foreign ownership cap, where buyers discover at advanced stages that their chosen building has no foreign slots available or must pay premiums for quota access, potentially losing reservation deposits if the issue surfaces too late.
Other unexpected challenges that frequently surprise foreign Cebu condo owners include lengthy and document-heavy BIR and Registry of Deeds processes that require patience and local assistance, building governance issues where weak condo corporations lead to deteriorating common areas and rising fees, and the complexity of remote property management when not physically present in the Philippines for extended periods.
Finally, please note that we have made a list of potential risks, scams and pitfalls when buying a new property in Cebu.
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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 RPPI Q3 2025 | Official central bank housing price index based on actual bank loan data across the Philippines. | We used this to determine whether Cebu housing prices are rising or falling and to validate our year-on-year growth estimates against official trend data. |
| BSP RPPI Technical Notes | Explains the central bank's hedonic methodology and what the price index measures. | We used this to explain what the RPPI can and cannot tell you about Cebu specifically and why we treat it as a trend indicator rather than an exact price quote. |
| Colliers Philippines via SunStar Cebu | Colliers is a major global real estate consultancy with dedicated Philippines research. | We used this as our primary Cebu-specific price per square meter anchor and luxury pricing benchmark, then updated figures to 2026 using stated growth expectations. |
| Lamudi Philippines | Long-running major property portal with extensive Cebu listing coverage. | We used this to identify floor prices for budget condos and verify what is actually being marketed across Metro Cebu neighborhoods. |
| Pag-IBIG Fund Acquired Assets | Official government home-financing institution with publicly listed foreclosed properties. | We used this to establish a hard floor for Cebu condo pricing through foreclosure listings and to explain tradeoffs buyers face at the cheapest price points. |
| Condominium Act (RA 4726) | The governing law for condominium ownership structures in the Philippines. | We used this to explain the legal basis allowing foreigners to own condos and the 40% foreign ownership cap that buyers must verify. |
| Local Government Code (RA 7160) | Core law governing local taxes including transfer tax and real property tax. | We used this to explain where local transaction taxes come from and why rates vary by city and municipality within Metro Cebu. |
| BIR RMC No. 31-2025 | Official Bureau of Internal Revenue circular on property transaction filings. | We used this to support the transaction cost section and explain DST filing requirements that buyers must complete at closing. |
| Cebu City Government RPT System | Official city government site for Cebu City's real property tax administration. | We used this to anchor the ongoing ownership cost discussion and confirm that property tax is paid to the local government unit. |
| DFA Apostille FAQs | Official Philippine apostille information for document authentication. | We used this to explain how foreign buyers can sign remotely via Special Power of Attorney and what authentication is required. |
| Land Registration Authority SPA Sample | Official LRA form showing standard language for property-related powers of attorney. | We used this to make the remote buying process concrete and provide a reference for lawyers preparing buyer documentation. |
| BSP Exchange Rate Statistics | Central bank's official reference exchange rate data for PHP conversions. | We used this to justify quoting costs in PHP first and to explain where buyers should verify rates when remitting funds. |
| Global Property Guide Philippines | International property research platform tracking yields and prices across countries. | We used this for rental yield benchmarks showing Cebu City averaging 5.38% gross and to compare against national figures. |
| Cebu Grand Realty Market Analysis | Local Cebu real estate agency with detailed market reporting and transaction data. | We used this for inventory life comparisons, supply pipeline data, and BPO sector impact on rental demand in specific neighborhoods. |
| 3D Academy Cebu Real Estate Analysis | Local institution providing detailed Cebu market updates with neighborhood-level data. | We used this for price per square meter ranges by area, new versus resale differentials, and hidden cost identification. |
| Lobien Realty Group via Shang Properties | Major Philippine real estate consultancy with developer survey data. | We used this for five-year price trend validation showing 12-30% increases from 2019 to 2023 among major Cebu developers. |
| Exchange-Rates.org | Currency conversion platform with real-time and historical exchange rate data. | We used this to verify PHP to EUR conversion rates for all euro-denominated price estimates in the article. |
We have made this infographic to give you a quick and clear snapshot of the property market in the Philippines. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
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