As of 2026, a realistic median house price in Panay Island is about ₱5.8 million, or roughly $103,000 and €89,000, while the average house price in Panay Island is closer to ₱9.5 million, or about $168,000 and €146,000, because Iloilo City and Boracay pull the average upward.
[VARIABLE INTRO GREEN HTML] [VARIABLE COVER HTML]We constantly update this blog post so the house prices in Panay Island stay useful for buyers looking at the market in 2026.
Panay Island is not one single housing market, because Iloilo City, Boracay-linked Malay, Roxas City, Kalibo, and Antique towns all behave differently.
This guide focuses only on residential houses in Panay Island, so we exclude condos, hotels, resorts, farms without a real house, and commercial buildings.
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 Panay Island.
How much do houses cost in Panay Island as of 2026?
What's the median and average house price in Panay Island as of 2026?
As of 2026, the estimated median house price in Panay Island is about ₱5.8 million, or roughly $103,000 and €89,000, while the estimated average house price in Panay Island is about ₱9.5 million, or roughly $168,000 and €146,000.
A typical price range covering most normal house sales in Panay Island in 2026 is about ₱3 million to ₱12 million, or roughly $53,000 to $212,000 and €46,000 to €185,000.
The average house price in Panay Island is much higher than the median because expensive houses in Mandurriao, Jaro, Molo, Pavia, Oton, and Boracay push the overall average above what a normal local family house costs.
At the median house price in Panay Island in 2026, a buyer can usually expect a small to mid-size 2-bedroom or 3-bedroom house in a subdivision, an older detached house in Roxas City or Kalibo, or a modest commuter-belt home around Pavia, Oton, Leganes, or Sta. Barbara.
What's the cheapest livable house budget in Panay Island as of 2026?
As of 2026, the cheapest realistic livable house budget in Panay Island is about ₱2.5 million to ₱3.2 million, or roughly $44,000 to $57,000 and €38,000 to €49,000.
At this entry-level house price in Panay Island, livable usually means a small 2-bedroom rowhouse, a compact townhouse, or an older detached house with basic water, electricity, a working bathroom, and some repairs still needed.
These cheapest livable houses in Panay Island are most often found in San Jose de Buenavista, Sibalom, Panay town, Pontevedra, Sigma, outer Roxas City barangays, Numancia, Nabas, and outer Iloilo towns away from the airport corridor.
[VARIABLE WHAT YOU CAN GET BUDGET]That said, a foreign buyer in Panay Island should usually add a safety buffer because the cheapest houses often need title checks, drainage checks, roof repairs, repainting, or basic electrical work.
How much do 2 and 3-bedroom houses cost in Panay Island as of 2026?
As of 2026, a typical 2-bedroom house in Panay Island costs about ₱3 million to ₱6.5 million, or roughly $53,000 to $115,000 and €46,000 to €100,000, while a typical 3-bedroom house costs about ₱4.5 million to ₱10 million, or roughly $80,000 to $177,000 and €69,000 to €154,000.
For a 2-bedroom house in Panay Island in 2026, the realistic range is about ₱2.8 million to ₱5 million in cheaper towns and about ₱4.5 million to ₱8 million in Iloilo City.
For a 3-bedroom house in Panay Island in 2026, the realistic range is about ₱3.8 million to ₱7.5 million in cheaper towns and about ₱6.5 million to ₱15 million in Iloilo City.
Moving from a 2-bedroom house to a 3-bedroom house in Panay Island usually adds about 30% to 60% to the budget because the buyer is often paying for a larger lot, better subdivision location, and stronger resale demand.
How much do 4-bedroom houses cost in Panay Island as of 2026?
As of 2026, a typical 4-bedroom house in Panay Island costs about ₱8 million to ₱18 million, or roughly $142,000 to $319,000 and €123,000 to €277,000.
A 5-bedroom house in Panay Island in 2026 usually costs about ₱15 million to ₱35 million, or roughly $265,000 to $619,000 and €231,000 to €538,000.
A 6-bedroom house in Panay Island in 2026 usually costs about ₱22 million to ₱50 million, or roughly $389,000 to $885,000 and €338,000 to €769,000, with Boracay, Mandurriao, Jaro, and large-lot Iloilo houses sometimes going higher.
Please note that we give much more detailed data in our pack about the property market in Panay Island.
How much do new-build houses cost in Panay Island as of 2026?
As of 2026, a typical new-build house in Panay Island costs about ₱4 million to ₱9 million for entry to mid-market homes, or roughly $71,000 to $159,000 and €62,000 to €138,000.
Compared with older resale houses in Panay Island, new-build houses usually carry a 10% to 25% premium because buyers pay for cleaner titles, developer financing, subdivision roads, drainage, security, and ready-for-occupancy convenience.
How much do houses with land cost in Panay Island as of 2026?
As of 2026, a normal house with meaningful land in Panay Island usually costs about ₱7 million to ₱18 million, or roughly $124,000 to $319,000 and €108,000 to €277,000.
In Panay Island, a house with land usually means at least 200 to 400 square meters of plot area, because many ordinary subdivision houses sit on much smaller 80 to 150 square meter lots.
[VARIABLE HOW MUCH LAND]The important Panay Island detail is that land value changes sharply with access, so a smaller house near Iloilo Business Park, the airport corridor, or Boracay can cost more than a much larger rural house in Antique or inland Capiz.
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Where are houses cheapest and most expensive in Panay Island as of 2026?
Which neighborhoods have the lowest house prices in Panay Island as of 2026?
As of 2026, the lowest house prices in Panay Island are usually in San Jose de Buenavista, Sibalom, inland Culasi, inland Pandan, Panay town, Pontevedra, Sigma, outer Roxas City barangays, Numancia, Nabas, and outer Iloilo towns away from the airport corridor.
In these cheaper Panay Island areas, a normal livable house usually costs about ₱2.5 million to ₱7.5 million, or roughly $44,000 to $133,000 and €38,000 to €115,000.
The main reason these Panay Island areas stay cheaper is that buyer depth is thinner, online inventory is smaller, job access is weaker, and resale can take longer than in Iloilo City, Pavia, Oton, or Boracay-linked Malay.
Which neighborhoods have the highest house prices in Panay Island as of 2026?
As of 2026, the top high-price house areas in Panay Island are Boracay areas like Yapak, Balabag, and Manoc-Manoc, Iloilo City areas like Mandurriao, Jaro, and Molo, and premium suburbs in Pavia and Oton.
In these most expensive Panay Island neighborhoods, typical house prices run from about ₱10 million to ₱60 million+, or roughly $177,000 to $1.06 million+ and €154,000 to €923,000+.
These Panay Island neighborhoods command the highest house prices because Boracay has scarce tourism-linked land, while Mandurriao, Jaro, Molo, Pavia, and Oton concentrate hospitals, schools, malls, jobs, and regional services.
The typical buyer in these premium Panay Island areas is a business owner, returning overseas Filipino, high-income Iloilo family, investor-landlord, or foreign buyer using a legal spouse ownership, corporation, or long-term lease structure where allowed.
How much do houses cost near the city center in Panay Island as of 2026?
As of 2026, houses near the main city-center areas of Panay Island, especially Iloilo City Proper, Molo, La Paz, Jaro, and Mandurriao, usually cost about ₱7 million to ₱18 million, or roughly $124,000 to $319,000 and €108,000 to €277,000.
Near major transit and road hubs in Panay Island, such as Diversion Road, the Iloilo airport corridor, Ceres terminals, and main roads toward Pavia, Oton, Leganes, Sta. Barbara, and Cabatuan, houses usually cost about ₱4.5 million to ₱15 million, or roughly $80,000 to $265,000 and €69,000 to €231,000.
Near better-known schools in Panay Island, such as Ateneo de Iloilo in Mandurriao, Central Philippine University access areas near Jaro, Philippine Science High School Western Visayas Campus near Bito-on, and school-access areas in Roxas City, houses usually cost about ₱4 million to ₱20 million, or roughly $71,000 to $354,000 and €62,000 to €308,000.
In expat-popular areas of Panay Island, such as Mandurriao, Iloilo Business Park, Jaro, Molo, Pavia, Oton, and Boracay areas like Balabag, Yapak, and Manoc-Manoc, houses usually cost about ₱7 million to ₱60 million+, or roughly $124,000 to $1.06 million+ and €108,000 to €923,000+.
[VARIABLE EXPAT GUIDE]How much do houses cost in the suburbs in Panay Island as of 2026?
As of 2026, suburban houses around Iloilo City on Panay Island usually cost about ₱4.5 million to ₱12 million, or roughly $80,000 to $212,000 and €69,000 to €185,000.
Compared with near-central Iloilo City houses, suburban houses in Panay Island are often 20% to 40% cheaper, which can mean a saving of about ₱2 million to ₱6 million, or roughly $35,000 to $106,000 and €31,000 to €92,000.
The most popular Panay Island suburbs for house buyers are Pavia, Oton, Leganes, Sta. Barbara, Cabatuan, and San Miguel because these towns offer city access without the highest Mandurriao or central Jaro prices.
What areas in Panay Island are improving and still affordable as of 2026?
As of 2026, the best improving but still affordable areas for house buyers in Panay Island are Pavia, Oton, Leganes, Sta. Barbara, Cabatuan, outer Roxas City barangays, Kalibo fringes, and Nabas.
In these improving Panay Island areas, a normal house usually costs about ₱3.8 million to ₱10 million, or roughly $67,000 to $177,000 and €58,000 to €154,000.
The main sign of improvement is not just cheaper land, but stronger movement along commuter and airport corridors, especially where Iloilo City jobs, subdivision supply, airport access, and Boracay-linked demand meet lower starting prices.
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What extra costs should I budget for a house in Panay Island right now?
What are typical buyer closing costs for houses in Panay Island right now?
For a house in Panay Island in 2026, a buyer should usually budget about 3% to 5% of the purchase price for buyer-side closing costs.
The main buyer closing costs in Panay Island are documentary stamp tax at about 1.5%, local transfer tax at about 0.5% in provinces or up to 0.75% in cities, registration fees around 0.25% to 0.6%, notarial fees around 0.5% to 1%, legal checks of about ₱50,000 to ₱150,000, and small processing costs of about ₱20,000 to ₱100,000.
The largest buyer-side closing cost for most Panay Island house purchases is usually documentary stamp tax because the rate is high and it is based on the selling price or the official value used for the transaction.
We cover all these costs and what are the strategies to minimize them in our property pack about Panay Island.
How much are property taxes on houses in Panay Island right now?
For a normal house in Panay Island in 2026, annual property tax often lands around ₱8,000 to ₱35,000, or roughly $140 to $620 and €120 to €540, although larger Iloilo City and Boracay-linked houses can pay more.
Property tax on houses in Panay Island is calculated from assessed value, not the sale price, so a ₱6 million house does not automatically pay tax on the full ₱6 million market value.
[VARIABLE PROPERTY TAXES FEES]In Iloilo City, buyers should check the latest tax declaration carefully because the city has had updated real property assessments and extended discount rules that can change the actual cash bill.
How much is home insurance for a house in Panay Island right now?
For a house in Panay Island in 2026, basic home insurance usually costs about 0.15% to 0.35% of insured value per year, so a ₱6 million house may cost about ₱9,000 to ₱21,000, or roughly $160 to $370 and €140 to €320.
Home insurance premiums for Panay Island houses depend mainly on insured value, construction material, roof condition, flood exposure, coastal exposure, typhoon risk, electrical condition, and whether the house is older or newly built.
What are typical utility costs for a house in Panay Island right now?
For a normal family house in Panay Island in 2026, typical monthly utilities are about ₱6,000 to ₱15,000, or roughly $106 to $265 and €92 to €231.
A simple monthly utility breakdown for a Panay Island house is about ₱3,000 to ₱5,000 for light electricity use, ₱6,000 to ₱12,000 for aircon-heavy electricity use, ₱500 to ₱1,500 for water, ₱1,500 to ₱2,500 for internet, ₱800 to ₱1,500 for LPG, and ₱500 to ₱3,000 for garbage, subdivision dues, and small services.
What are common hidden costs when buying a house in Panay Island right now?
For a house in Panay Island in 2026, common hidden costs often add about ₱250,000 to ₱2 million+, or roughly $4,400 to $35,000+ and €3,800 to €31,000+, depending on title quality, house condition, drainage, and renovation needs.
Typical inspection and due-diligence fees in Panay Island include about ₱50,000 to ₱150,000 for legal checks, ₱20,000 to ₱80,000 for a geodetic survey, ₱15,000 to ₱60,000 for a structural inspection, ₱5,000 to ₱20,000 for pest checks, and ₱5,000 to ₱25,000 for septic or drainage checks.
Other common hidden costs when buying a house in Panay Island include unpaid real property tax, boundary correction, roof repairs, electrical repairs, plumbing work, repainting, termite treatment, septic work, flood-proofing, and road-access problems.
The hidden cost that usually surprises first-time Panay Island house buyers most is renovation, because an older house that looks acceptable in photos can still need a new roof, safer wiring, drainage work, or major bathroom repairs.
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What do locals and expats say about the market in Panay Island as of 2026?
Do people think houses are overpriced in Panay Island as of 2026?
As of 2026, many locals and expats think houses are expensive in Iloilo City, Mandurriao, Jaro, Pavia, Oton, and Boracay, but they are more likely to see Antique, Capiz, and inland Aklan as still affordable.
A well-priced suburban house in Panay Island may sell in about 60 to 120 days, while an overpriced Iloilo City house, Boracay premium property, or rural Antique house can sit for 6 to 24 months.
The main reason buyers complain about Panay Island house prices is that good houses near jobs, hospitals, schools, drainage, and clean titles are scarce compared with the number of families, returning overseas Filipinos, and investors looking in the same areas.
Compared with one or two years ago, sentiment in Panay Island is more selective in 2026 because buyers still accept strong prices for useful locations, but they push back harder on old houses, unclear titles, poor drainage, and unrealistic seller expectations.
[VARIABLE REAL ESTATE MARKET]Are prices still rising or cooling in Panay Island as of 2026?
As of 2026, house prices in Panay Island are still rising in the strongest areas, especially Iloilo City, Pavia, Oton, Sta. Barbara, the airport corridor, and Boracay-linked Malay, while remote Antique and inland Capiz are more stable.
A fair 2026 estimate is that Iloilo City house prices are up about 5% to 9% year over year, Iloilo suburbs are up about 6% to 10%, Boracay and Malay premium houses are up about 4% to 8%, Roxas City and Capiz houses are up about 3% to 6%, and Antique houses are up about 1% to 4%.
Over the next 6 to 12 months, most Panay Island buyers should expect useful houses in strong locations to hold or rise slightly, while overpriced older houses with title, drainage, or repair issues may need bigger discounts to sell.
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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 Panay Island, 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 this source matters | How we used it |
|---|---|---|
| Bangko Sentral ng Pilipinas RPPI | It is the official national residential property price index. | We used it to understand whether Philippine house prices were still rising. We treated it as national context, not as a Panay-specific price list. |
| Philippine Statistics Authority GRDP | It is the official source for regional economic growth. | We used it to check the strength of Western Visayas in 2025. We linked this to demand pressure around Iloilo City and nearby towns. |
| PSA Western Visayas Provincial Product Accounts | It shows province-level economic weight inside Western Visayas. | We used it to confirm Iloilo’s large role in the region. We used that to explain why Iloilo houses are much pricier than many Antique and Capiz houses. |
| OnePropertee Iloilo City house listings | It has current asking-price evidence for Iloilo City houses. | We used it to sample active asking prices in Iloilo City. We adjusted down from asking prices to estimate realistic transaction ranges. |
| OnePropertee Pavia Iloilo listings | It captures a major suburban market next to Iloilo City. | We used it to price suburban houses around Pavia. We compared it with Iloilo City to estimate the city-suburb price gap. |
| OnePropertee Aklan listings | It gives live asking-price evidence for Aklan houses. | We used it to separate normal mainland Aklan pricing from Boracay-linked pricing. We treated Boracay and Malay as premium submarkets. |
| OnePropertee Capiz listings | It gives current listing evidence for Roxas City and Capiz. | We used it to estimate mid-market house budgets outside Iloilo. We cross-checked low-end and new-build prices against Iloilo suburbs. |
| OnePropertee Antique listings | It shows a thinner public listing market in Antique. | We used it carefully because the sample is small. We gave wider ranges and lower liquidity assumptions for Antique houses. |
| Lamudi Iloilo house listings | It is an established Philippine real estate portal. | We used it as a second check on Iloilo asking prices. We used it mainly for price bands, not exact medians. |
| Bureau of Internal Revenue Documentary Stamp Tax | It is the official tax authority source for DST. | We used it to estimate buyer-side tax exposure. We applied the standard real-estate DST rule used in Philippine transactions. |
| DILG Local Government Code copy | It is an official legal source for local tax powers. | We used it to estimate local transfer tax. We applied 0.5% in provinces and up to 0.75% in cities. |
| MORE Power Iloilo monthly rates | It is the local electricity distributor’s rate page. | We used it to estimate power bills in Iloilo City. We used the May 2026 residential rate near ₱11.87 per kWh as the benchmark. |
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