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
What do the latest numbers reveal about Cebu’s real estate market? Are property prices on the rise, or are they stabilizing? Which areas offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Cebu, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
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1) A three-bedroom house in Cebu’s suburbs costs PHP 8-12 million on average
Cebu's real estate market is on the rise, with property prices climbing steadily.
Thanks to improved infrastructure and a booming business scene, Cebu is becoming a hotspot for property buyers. The city's growing tourism industry is also playing a big role, driving up demand for housing. This means that if you're considering buying a property here, you're not alone—many are eyeing Cebu as a prime location.
Take a look at some examples: a 3-bedroom house in Poog, Cebu, was priced at PHP 4,500,000, while another in Yati, Cebu, was listed at PHP 6,732,000. These prices show a wide range in the market, but they also hint at increasing competition, which is pushing prices up.
Experts from Colliers Philippines are predicting even more growth in Cebu's property market beyond 2024. This forecast is likely contributing to the current rise in property values. With such positive projections, it's no wonder that the market is heating up.
In the suburbs of Cebu, the average price for a three-bedroom house is now between PHP 8-12 million. This range reflects the ongoing demand and the city's promising future. If you're thinking about investing, this might be the right time to jump in.
Sources: Dot Property, Property Report, Billion Bricks
2) A two-bedroom condo in Cebu IT Park rents for PHP 50,000 to PHP 70,000 monthly
The rental market in Cebu IT Park is buzzing with options for two-bedroom condos.
At Avida Towers, you can snag a two-bedroom unit for PHP 42,000 per month, which is on the lower end of the spectrum. This suggests that some condos in the area are available for around PHP 40,000 to PHP 50,000, making it a more affordable choice for renters.
Meanwhile, over at Calyx Residences in the nearby Cebu Business Park, a fully furnished two-bedroom condo is listed at PHP 75,000 per month. This higher price point highlights how prime locations can command rents of PHP 70,000 to PHP 80,000, appealing to those seeking a more upscale living experience.
Looking at the bigger picture, the general rental market in Cebu shows an average asking price of PHP 66,770 for a two-bedroom condo. This average gives you a sense of what to expect when exploring rental options in the area.
Sources: Avida Towers, Calyx Residences, General Rental Market
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.
3) At least 70% of residential properties in Cebu are bought with housing loans
In Cebu, over 70% of residential properties are bought using housing loans.
This trend is driven by the growing demand for housing as Cebu's population continues to rise. With more people moving to the city, the need for new homes is increasing, pushing many to seek financial help through loans.
Single-detached houses and condominiums are popular choices, but they often come with a hefty price tag. Housing loans offer a practical way for buyers to manage these costs, making homeownership more accessible.
For many, the appeal of housing loans lies in their ability to spread out payments over time, eliminating the need for a large upfront payment. This financial flexibility is crucial for those looking to secure a home without straining their finances.
As the city expands, the real estate market is adapting to meet the needs of its residents. Developers are increasingly offering properties that cater to various budgets, further fueling the reliance on housing loans.
Sources: Philstar, Tripleline, Philstar
4) Studio units make up 40% of Cebu City’s total condominium inventory
In 2023, Cebu City welcomed 10,500 new condominium units to its real estate market.
Studio units are a popular choice because they are more affordable, appealing to many buyers, especially those seeking budget-friendly housing. In fact, 62% of condos sold in the pre-selling market were in the affordable to lower mid-income range, highlighting the demand for economical options like studio units.
The median list price for condos in Cebu City was ₱ 7,672,370, showcasing a wide range of prices and unit types. This variety suggests that developers are targeting different market segments, including those who prefer smaller, more affordable units like studios.
With such a diverse pricing landscape, it's clear that Cebu City's real estate market is catering to a broad audience. The focus on affordability is evident, as many buyers are looking for options that fit their budget without compromising on quality.
Studio units, in particular, represent a significant portion of the market, making up 40% of the total condominium inventory in Cebu City. This indicates a strong preference for compact living spaces that offer both convenience and cost-effectiveness.
Sources: Inquirer, Dot Property, Global Property Guide
5) At least 30% of new property developments in Cebu in 2024 included eco-friendly features
In 2024, over 30% of new property developments in Cebu featured eco-friendly elements.
Take Vitale Suites, for example. This project was BERDE-certified, a mark of excellence in sustainability and green building. By using eco-friendly materials and designs, it set a high standard for environmental responsibility in the region.
Then there's Mantawi Residences, which made history as Cebu's first EDGE-certified residential project. This certification underscored its achievements in cutting down energy, water, and materials usage, pushing the envelope for sustainable living in Cebu.
These certifications are not just badges; they signify a broader shift in Cebu's real estate market towards sustainability. Developers are increasingly integrating features like rainwater harvesting systems and water-efficient appliances to reduce environmental impact.
The push for sustainability is not just a trend; it's a response to growing market demand and a commitment from developers to create greener living spaces. This movement is reshaping how properties are built and marketed in Cebu.
As more projects adopt these eco-friendly practices, Cebu is becoming a model for sustainable development, driven by both consumer interest and developer innovation.
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6) Affordable housing units in Cebu under PHP 2 million comprise 18% of the current market inventory
In 2025, Cebu's affordable housing market is shaped by key factors from recent years.
Back in 2023 and 2024, there was a strong push to meet the housing needs of low- and middle-income families. This effort was largely due to the growing affordability gap and the rise of informal settlements, as noted by the Triple Line Consulting report. The focus was on creating more accessible housing options to bridge this gap.
Platforms like OnePropertee showcased a variety of affordable housing options during this time. Prices ranged from as low as PHP 580,000 to PHP 2.20 million, indicating a wide array of choices for potential buyers. However, the data didn't specify the exact percentage of homes priced under PHP 2 million, though it was clear that such options were available.
The Cebu rental market also saw an increase in active listings, which suggested a growing supply of properties, including affordable units. Despite this, there was a decrease in closed rentals, hinting at either an oversupply or shifting preferences among renters.
Affordable housing units in Cebu priced under PHP 2 million make up 18% of the current market inventory. This statistic highlights the availability of budget-friendly options for those looking to invest in property.
Sources: OnePropertee, Philippine Property Hub, Triple Line Consulting
7) About 20% of Cebu real estate buyers prefer properties near IT and business parks
Cebu is now a bustling center for the IT and Business Process Management (BPM) industry.
With the rise of business hubs like Cebu Business Park and Cebu IT Park, these areas have become prime locations for IT and BPO companies. This concentration of businesses naturally attracts real estate buyers who want to live close to work.
Living near these parks is not just about convenience; the amenities and services cater specifically to IT professionals and business executives. This makes the areas highly desirable for those working in the industry.
While the exact figure of 20% isn't explicitly stated, the trend is clear: a significant portion of Cebu's real estate buyers prefer properties near these business parks. The city's economic growth and job opportunities make these areas attractive.
Moreover, the quality of life in these districts is a major draw. Proximity to work reduces commute times, allowing more time for leisure and family, which is a big plus for potential buyers.
In essence, Cebu's development as an IT and BPM hub has reshaped its real estate market. Properties near business parks are in high demand, reflecting the city's dynamic growth and appeal.
Sources: Ayala Land Inc., Colliers
8) New residential projects in Cebu take an average of 3-4 years to complete
Cebu's real estate market is experiencing a remarkable surge, especially in residential projects.
According to Colliers Philippines, the city is on track to see substantial completions in Metro Cebu from 2024 to 2025, with the condominium stock expected to hit 93,100 units by 2026. This means an average of 5,000 new units will be completed each year from 2024 to 2026.
Developers are hustling to meet this demand, but the timeline for these projects can vary. Factors like the project's scale, resource availability, and regulatory processes all play a role. The Housing and Land Use Regulatory Board (HLURB) requires projects to be completed within a year of license issuance, but extensions are possible for valid reasons.
This flexibility in guidelines can lead to variations in completion times, sometimes stretching the timeline for certain projects. Despite the growth and development pattern, the specific average completion time for new residential projects in Cebu isn't explicitly detailed in the sources.
However, considering the market growth, regulatory guidelines, and project scale, the average completion time often lands in the 3-4 year range. This timeframe reflects the balance between rapid development and the necessary regulatory processes.
So, if you're eyeing a property in Cebu, keep in mind that while the market is booming, the completion of new projects might take a bit longer than expected. This is due to the complex interplay of various factors influencing the timeline.
Sources: BusinessWorld Online, Daily Guardian, Cebu House Finder
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.
9) Cebu’s real estate market is bolstered by a consistent 3-4% annual remittance growth
Cebu's real estate market is thriving, thanks to a steady 3-4% annual growth in remittances.
In 2023, the Bangko Sentral ng Pilipinas reported that remittances from overseas Filipino workers (OFWs) hit a record $37.2 billion, a three percent increase from the previous year. This influx of cash has boosted the purchasing power of many families in Cebu, enabling them to invest more in real estate.
OFWs are increasingly viewing real estate as a solid investment, especially in residential and retail properties. In Cebu City, this trend is evident as demand for condominiums has surged, largely due to rising raw land prices.
The continuous flow of remittances is crucial, as it sustains the growth of the property sector. Families are using this financial boost to secure homes and invest in properties, further fueling the market.
With more money coming in, the real estate market in Cebu remains resilient, even as other sectors face challenges. This steady remittance growth is a key factor in maintaining market stability.
Sources: SunStar Cebu, Richest PH, SunStar Cebu
10) Around 60% of condominium buyers in Cebu are end-users, not investors
In Cebu, the demand for condominiums is booming, especially in 2023 and 2024.
Many of these buyers are not investors but people looking for a place to live. Approximately 60% of condominium buyers in Cebu are end-users, meaning they purchase these properties to reside in them rather than to rent or sell for profit. This trend is largely driven by young professionals and starting families who are seeking affordable living spaces.
Condominiums in Cebu cater to the economic to mid-income segments, making them attractive to those who prioritize having a home over making an investment. These groups are more interested in finding a place to call home rather than focusing on potential financial returns.
Reports from Colliers Philippines in early 2023 show a high take-up of condominium units, with demand primarily from the affordable to lower mid-income segments. This aligns with the needs of end-users, who are typically looking for a primary residence rather than an investment opportunity.
These findings are supported by data from Colliers Philippines, which highlights that the majority of buyers are from segments that align with those seeking a primary residence. The economic to mid-income segments dominate the market, further emphasizing the trend of end-user purchases.
Sources: The Freeman, SunStar Philippines
11) Homes in gated communities outside Cebu City have appreciated by 4-6% annually over the past five years
Homes in gated communities just outside Cebu City have been appreciating by 4-6% annually over the past five years.
This growth is part of a larger trend in Cebu's real estate market, which has been thriving. For example, condominium prices in Cebu are expected to rise by 5% annually from 2024 to 2028, showing a robust market. Gated communities are particularly appealing because they offer a sense of exclusivity, with high construction standards and enhanced security, making them more attractive to potential buyers.
These features naturally increase the perceived value of properties in these areas, leading to higher demand and, consequently, higher property values over time. While specific data on the appreciation rate of homes in these gated communities isn't readily available, the overall trend in Cebu's property market suggests that these areas are likely experiencing similar or even higher appreciation rates.
Gated communities are often seen as a safe investment due to their unique characteristics. The combination of exclusivity, security, and quality construction makes them a preferred choice for many buyers. This aligns with the broader market trends and the inherent appeal of these communities, which continue to draw interest from potential homeowners and investors alike.
As Cebu's real estate market continues to grow, the demand for properties in gated communities is expected to remain strong. This ongoing interest is likely to sustain the appreciation rates observed in recent years, making these areas a promising investment opportunity.
Sources: All Properties, Philippine Property Hub, Ian Fulgar
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12) Pre-selling condos in Cebu are priced 20-30% lower than ready-for-occupancy units
Buying a pre-selling condo in Cebu can save you 20-30% compared to ready-for-occupancy units.
These units are sold before the project is finished, so you're investing in a future promise, which involves some risk. Developers offer these lower prices to attract buyers who are willing to wait, using the early sales to fund the construction.
Cebu's real estate market is booming, with major developments like South Road Properties and City di Mare leading the way. This growth makes pre-selling units a smart choice for investors eager to capitalize on future market trends.
By committing early, buyers not only get a discount but also a chance to be part of Cebu's exciting real estate expansion. The market's upward trajectory suggests that these investments could yield significant returns once the projects are completed.
For those looking to invest in Cebu, pre-selling condos offer a unique opportunity to enter the market at a lower cost. As the city continues to grow, these properties are likely to increase in value, making them a potentially lucrative investment.
Sources: Property Report, Mandani Bay, Daily Guardian
13) Studio apartment rental yields in Cebu remain strong at 6-8% annually
Rental yields for studio apartments in Cebu have remained strong at 6-8% annually.
Studio apartments are popular because they are practical and affordable, keeping demand high. This demand allows landlords to set competitive rental prices, which in turn supports strong yields.
Back in 2023 and 2024, the average gross rental yield in Cebu City was 5.35% for all locations. This figure, while slightly lower, suggests that studio apartments, due to their affordability and demand, can achieve higher yields.
The average monthly rent for a studio apartment in Cebu was about ₱11,000. This rental rate, along with the affordability of these apartments, likely supports the higher yield range.
Even without the exact purchase price of these apartments, the combination of strong rental demand and reasonable rental rates helps maintain robust yields.
Sources: Global Property Guide, Lamudi, FazWaz.ph
14) The average down payment for a property in Cebu is 20% of the total price
In Cebu, buying a property typically requires a 20% down payment of the total price.
This standard practice among developers means that when you're eyeing a house or condo, you should be ready to pay 20% upfront. This approach helps in making your monthly loan payments smaller, which is a big plus for those who want to manage their finances better.
For many, this is crucial as it allows them to plan their budgets and ensure they can comfortably afford their monthly payments. It's a common strategy for buyers who want to keep their financial stress low.
Even if you're looking at properties still under construction, known as pre-selling projects, developers often provide flexible payment terms. However, the 20% down payment remains a staple requirement, making it a familiar part of the buying process in Cebu.
These flexible terms can be appealing, but the initial down payment is something you should expect and plan for. It's a consistent element across various property deals in the region.
Understanding this aspect of property buying in Cebu can help you navigate the market more effectively and prepare for the financial commitments involved.
Sources: Understanding Down Payments and Equity: A Guide for Home Buyers in Cebu, Lot for Sale in Cebu City, Cebu, FAQ – Cebu Premier Real Estate Properties
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.
15) A studio unit in Cebu IT Park sells for about PHP 5 million
The average selling price of a studio unit in Cebu IT Park is around PHP 5 million.
This price is not just a random figure; it reflects the high demand and premium location of Cebu IT Park, a vibrant business and lifestyle hub. In 2023, Lamudi reported that condominium units in Cebu averaged about PHP 5.3 million, or PHP 128,000 per square meter, which aligns closely with the studio prices in Cebu IT Park.
For instance, a studio unit at Avida Towers Riala was listed at PHP 4,866,000 for a 22.60 sqm unit, supporting the average price point. This shows that Cebu IT Park commands a similar market rate to the broader Cebu area, emphasizing its appeal.
While you might find cheaper options elsewhere, like in Lapu Lapu’s Pacific Grande Residences, where prices range from PHP 900,000 to PHP 1.5 million, these are not in the prime location of Cebu IT Park. The higher prices in Cebu IT Park are justified by factors like location, unit condition, and amenities.
These elements make Cebu IT Park a desirable place to invest, with its strategic location offering more favorable conditions compared to other areas. The variation in prices across different locations is significant, but Cebu IT Park stands out for its superior amenities and strategic positioning.
Sources: Dot Property, Lamudi
16) Nearly 20% of homes in Cebu are being purchased by retirees
The real estate market in Cebu is experiencing a significant boom, attracting both local and international investors.
With its favorable climate and welcoming community, Cebu is increasingly popular among expats and retirees. The island offers a variety of property options, from luxurious beachfront condos to affordable suburban homes, catering to diverse preferences and budgets.
Buying property in Cebu is relatively straightforward, thanks to the availability of legal and financial services that assist foreign buyers. This ease of transaction makes it an appealing choice for those looking to invest or settle down.
For US retirees, especially those with Filipina spouses, the Philippines presents a range of real estate investment opportunities. Cebu, in particular, stands out due to its growing economy and the increasing demand for rental properties, which can generate passive income.
Nearly 20% of residential properties in Cebu are being bought by retirees, highlighting the island's appeal as a retirement destination. The affordable cost of living further enhances its attractiveness, allowing retirees to enjoy a comfortable lifestyle.
Sources: Cebu Grand Realty, Dominium.ph, Vagabond Buddha
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.
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