Authored by the expert who managed and guided the team behind the Philippines Property Pack
Everything you need to know before buying real estate is included in our The Philippines Property Pack
If you want to buy a house in Panay Island, knowing what prices actually look like on the ground will help you avoid overpaying or missing good deals.
We wrote this guide specifically for foreign buyers who want clear, honest numbers about houses in Panay Island, not vague estimates or outdated figures.
We constantly update this blog post with fresh data so you always have the latest picture of the market.
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 early 2026, the estimated median house price in Panay Island is around ₱3.6 million (about $61,000 or €52,000), while the average sits higher at approximately ₱6.2 million ($105,000 or €89,000) because luxury homes in Boracay and large Iloilo City properties pull the average up.
The typical price range that covers roughly 80% of house sales in Panay Island falls between ₱2 million and ₱8 million ($34,000 to $136,000 or €29,000 to €116,000), which gives you a realistic window for budgeting.
The gap between median and average in Panay Island reveals a split market where affordable townhouses and provincial homes coexist with high-end resort properties and premium Iloilo City subdivisions, so the average gets inflated by expensive outliers.
At the median price of ₱3.6 million in Panay Island, a buyer can typically expect a 2 to 3-bedroom house-and-lot in an Iloilo suburb like Pavia or Santa Barbara, or a similar property in towns across Capiz or Antique provinces.
What's the cheapest livable house budget in Panay Island as of 2026?
As of early 2026, the minimum budget for a livable house in Panay Island starts at around ₱1.2 million to ₱1.8 million ($20,000 to $31,000 or €17,000 to €26,000), though you should expect to budget extra for repairs at this price point.
"Livable" at this entry-level price in Panay Island typically means a small townhouse or rowhouse unit that may need cosmetic fixes, roof repairs after rainy seasons, or termite treatment, which is common across the Philippines.
The cheapest livable houses in Panay Island are usually found in Iloilo province towns like Santa Barbara, Leganes, and Zarraga, as well as in parts of Capiz outside central Roxas City and smaller municipalities in Antique province.
Wondering what you can get? We cover all the buying opportunities at different budget levels in Panay Island here.
How much do 2 and 3-bedroom houses cost in Panay Island as of 2026?
As of early 2026, a typical 2-bedroom house in Panay Island costs around ₱2.5 million ($42,000 or €36,000), while a 3-bedroom house typically runs about ₱4 million ($68,000 or €58,000).
The realistic price range for a 2-bedroom house in Panay Island spans from ₱1.8 million to ₱3.5 million ($31,000 to $59,000 or €26,000 to €50,000), depending on location and whether it is in a subdivision or a standalone lot.
For a 3-bedroom house in Panay Island, expect a price range of ₱2.6 million to ₱6 million ($44,000 to $102,000 or €38,000 to €87,000), with the upper end covering newer builds in prime Iloilo City districts like Mandurriao.
The typical price premium when moving from a 2-bedroom to a 3-bedroom house in Panay Island is around 40% to 70%, reflecting the added space and the fact that 3-bedroom homes tend to sit on larger lots in better locations.
How much do 4-bedroom houses cost in Panay Island as of 2026?
As of early 2026, a typical 4-bedroom house in Panay Island costs between ₱5.5 million and ₱12 million ($93,000 to $203,000 or €79,000 to €173,000), with prices varying widely based on location and whether the property is in a gated subdivision.
The realistic price range for a 5-bedroom house in Panay Island runs from ₱9 million to ₱20 million ($153,000 to $339,000 or €130,000 to €289,000), as these larger family homes are often found in premium Iloilo City neighborhoods or near Boracay in Aklan.
For a 6-bedroom house in Panay Island, expect to budget ₱14 million to ₱35 million or more ($237,000 to $593,000+ or €202,000 to €505,000+), since properties this size are typically resort-style homes or large family compounds in prime locations.
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 early 2026, a typical new-build house in Panay Island costs around ₱55,000 to ₱85,000 per square meter ($930 to $1,440 or €790 to €1,230 per sqm) in strong city-access areas like Iloilo City, and around ₱40,000 to ₱65,000 per sqm ($680 to $1,100 or €580 to €940 per sqm) in provincial towns.
The typical percentage premium that new-build houses carry compared to older resale houses in Panay Island ranges from 10% to 25%, and sometimes more if the older house needs significant work on the roof, plumbing, or seismic reinforcement.
How much do houses with land cost in Panay Island as of 2026?
As of early 2026, a typical house with land in Panay Island follows the same pricing as standard house-and-lot packages since almost all houses come with land, but properties with bigger plots (300 to 1,000+ sqm) add ₱2 million to ₱15 million ($34,000 to $254,000 or €29,000 to €217,000) on top of the house value.
The typical plot size that qualifies as a "house with land" in Panay Island starts at around 80 to 150 sqm for standard subdivision lots, while properties marketed as having substantial land typically feature 300 sqm or more.
We cover everything there is to know about land prices in Panay Island here.
Thinking of buying real estate in Panay Island?
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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 early 2026, the neighborhoods with the lowest house prices in Panay Island include Santa Barbara, Leganes, and Zarraga in Iloilo province, inland towns in Capiz outside Roxas City, and smaller municipalities in Antique like those around San Jose de Buenavista.
The typical house price range in these cheapest neighborhoods of Panay Island falls between ₱1.2 million and ₱3 million ($20,000 to $51,000 or €17,000 to €43,000) for a basic house-and-lot.
The main reason these neighborhoods have the lowest house prices in Panay Island is their distance from Iloilo City's commercial core and their lack of tourism pressure, which means less competition from investors and fewer modern subdivision developments driving up land values.
Which neighborhoods have the highest house prices in Panay Island as of 2026?
As of early 2026, the three neighborhoods with the highest house prices in Panay Island are Mandurriao in Iloilo City (the city's prime modern district), Malay and Balabag in Aklan (influenced by Boracay tourism), and parts of Oton near the coast with new developments.
The typical house price range in these most expensive neighborhoods of Panay Island spans from ₱8 million to ₱35 million or more ($136,000 to $593,000+ or €116,000 to €505,000+), with Boracay-adjacent properties reaching the highest figures.
The main reason these neighborhoods command the highest house prices in Panay Island is a combination of limited prime inventory, strong demand from overseas Filipino workers and expats, and proximity to either Iloilo City's commercial growth corridors or Boracay's tourism economy.
The typical buyer purchasing houses in these premium Panay Island neighborhoods is often an overseas Filipino worker investing remittances, a local business owner seeking a modern family home, or a foreign national (through a Filipino spouse or corporation) looking for lifestyle properties near Boracay.
How much do houses cost near the city center in Panay Island as of 2026?
As of early 2026, a typical house near the city center in Panay Island (meaning central Iloilo City, including the downtown area and nearby districts like La Paz and parts of Jaro) costs between ₱4 million and ₱10 million ($68,000 to $170,000 or €58,000 to €145,000), with prime pockets going higher.
Houses near major transit hubs in Panay Island, which in practice means properties with good road access to the Mandurriao-Pavia corridor and main arterials, typically fall in the mid-to-high range of ₱5 million to ₱12 million ($85,000 to $203,000 or €72,000 to €173,000) since Iloilo has no metro rail system.
Houses near top-rated schools in Panay Island, such as the University of San Agustin, Central Philippine University in Jaro, and St. Paul University Iloilo, generally cost at or above the city median of ₱4.84 million ($82,000 or €70,000) because these are established urban districts with steady demand from families.
Houses in expat-popular areas of Panay Island, which include Mandurriao in Iloilo City for modern living, Oton and Pavia for suburban subdivisions, and Malay in Aklan for lifestyle seekers, typically range from ₱6 million to ₱20 million ($102,000 to $339,000 or €87,000 to €289,000) depending on whether you are in the city or near Boracay.
We actually have an updated expat guide for Panay Island here.
How much do houses cost in the suburbs in Panay Island as of 2026?
As of early 2026, a typical house in the suburbs of Panay Island (meaning the Metro Iloilo fringe including Pavia, Santa Barbara, Oton, and Leganes) costs between ₱2 million and ₱6 million ($34,000 to $102,000 or €29,000 to €87,000).
The typical price difference between suburban houses and city-center houses in Panay Island is around 20% to 40% lower for suburbs, which means you get more space per peso while still staying commutable to Iloilo City.
The most popular suburbs for house buyers in Panay Island are Pavia (closest to Iloilo City's growth corridor), Santa Barbara (known for flower farms and a small-town feel), and Oton (coastal access with newer subdivisions), all of which offer a balance of affordability and city access.
What areas in Panay Island are improving and still affordable as of 2026?
As of early 2026, the top areas in Panay Island that are improving and still affordable for house buyers include Pavia and Santa Barbara in Iloilo province (benefiting from city spillover), parts of Jaro and La Paz in Iloilo City (older districts with value in older housing stock), and Kalibo in Aklan (a regional hub that prices below Malay/Boracay).
The current typical house price in these improving yet affordable areas of Panay Island ranges from ₱2.5 million to ₱5 million ($42,000 to $85,000 or €36,000 to €72,000), which sits below the Iloilo City median.
The main sign of improvement driving buyer interest in these Panay Island areas is infrastructure development, including the upcoming Panay-Guimaras-Negros Inter-Island Link Bridge and Iloilo International Airport upgrades, which are making previously overlooked towns more accessible and attractive to investors.
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 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?
The estimated typical total closing cost for house buyers in Panay Island ranges from about 2% to 3% of the purchase price, not including the seller's capital gains tax which is often handled separately.
The main closing cost categories that make up this total in Panay Island include Documentary Stamp Tax at around 1.5% of the higher of selling price or fair market value, local transfer tax of up to 0.5% depending on the local government unit, and registry fees plus notarial costs that together usually run 0.2% to 0.6%.
The single closing cost category that is usually the largest for house buyers in Panay Island is the Documentary Stamp Tax at 1.5%, which applies to the higher of the selling price, zonal value, or assessor's fair market value.
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?
The estimated typical annual property tax amount for a house in Panay Island ranges from about ₱8,000 to ₱35,000 ($135 to $595 or €115 to €505) for most owner-occupied homes, though prime or high-value urban properties can be higher.
Property tax in Panay Island is calculated based on the assessed value of your property (not the market price), with the total usually including a basic real property tax plus a Special Education Fund levy, and the assessed value is typically set well below actual market value.
How much is home insurance for a house in Panay Island right now?
The estimated typical annual home insurance cost for a house in Panay Island ranges from ₱6,000 to ₱25,000 ($100 to $425 or €85 to €360) for standard homes, and ₱25,000 to ₱80,000 or more ($425 to $1,355+ or €360 to €1,155+) for larger or higher-value properties.
The main factors that affect home insurance premiums for houses in Panay Island include the rebuild cost of your home, the construction materials used (concrete versus wood framing), your property's typhoon exposure, and whether you are in a flood-prone area.
What are typical utility costs for a house in Panay Island right now?
The estimated typical total monthly utility cost for a house in Panay Island ranges from about ₱2,500 to ₱6,000 ($42 to $102 or €36 to €87) for electricity and water combined, depending on your household size and air conditioning usage.
The breakdown of main utility categories for houses in Panay Island includes electricity at roughly ₱2,000 to ₱4,200 per month ($34 to $71 or €29 to €60) based on MORE Power's residential rates of around ₱10 to ₱12 per kWh, and water at around ₱300 to ₱1,200 per month ($5 to $20 or €4 to €17) following the late-2025 tariff adjustment in Iloilo City.
What are common hidden costs when buying a house in Panay Island right now?
The estimated total of common hidden costs that house buyers in Panay Island often overlook can add ₱50,000 to ₱200,000 ($850 to $3,390 or €725 to €2,890) or more to your purchase, depending on the property's condition and documentation status.
The typical inspection fees buyers should expect when purchasing a house in Panay Island include ₱8,000 to ₱25,000 ($135 to $425 or €115 to €360) for a basic professional inspection and ₱5,000 to ₱20,000 ($85 to $340 or €72 to €290) each for add-ons like termite inspection, septic assessment, or electrical evaluation.
Other common hidden costs beyond inspections when buying a house in Panay Island include post-purchase repairs after rainy season damage (roof leaks, ceiling repairs, drainage fixes), termite treatment which is very common in the Philippines, title and boundary cleanup if there are missing annotations or unpaid arrears, and HOA dues in subdivisions that vary widely.
The hidden cost that tends to surprise first-time house buyers the most in Panay Island is termite damage remediation, since infestations are widespread but often not visible during a casual walkthrough, and treatment plus repairs can easily run ₱30,000 to ₱100,000 ($510 to $1,695 or €435 to €1,445).
You will find here the list of classic mistakes people make when buying a property in Panay Island.
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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 early 2026, the general sentiment among locals and expats in Panay Island is split, with many feeling that prime Iloilo City pockets like Mandurriao are "rich" due to limited modern inventory, while others see good value in non-prime towns if they are willing to renovate older homes.
Houses in Panay Island typically stay on the market for 1 to 3 months if they are good-value properties with clean titles, but overpriced or paperwork-complicated houses can sit for 6 to 12 months or longer.
The main reason locals and expats give for feeling house prices are fairly valued in Panay Island is that construction costs have genuinely risen (materials, labor, and land are all more expensive), so newer homes reflect real input costs rather than speculation.
Compared to one or two years ago, current sentiment on house prices in Panay Island shows more acceptance of higher prices in growth areas like Mandurriao and Pavia, while buyers have become pickier about older stock and are demanding discounts for properties that need work.
Are prices still rising or cooling in Panay Island as of 2026?
As of early 2026, house prices in Panay Island are showing mixed signals, with Iloilo City's growth corridor (Mandurriao, Pavia) holding steady or rising modestly, while provincial areas and older housing stock are seeing softer price growth or flat pricing.
The estimated year-over-year house price change in Panay Island for the Iloilo City market has been around 5% to 7% annually over recent years, though the broader Philippines market showed a sharp deceleration to just 1.9% growth nationwide in Q3 2025 according to BSP data.
Experts and locals in Panay Island expect house prices over the next 6 to 12 months to remain stable in prime locations supported by infrastructure projects like the Panay-Guimaras-Negros Bridge, while secondary markets may see more negotiation room as the national market adjusts to higher financing costs.
Finally, please note that we have covered property price trends and forecasts for Panay Island here.
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 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 it's authoritative | How we used it |
|---|---|---|
| Bangko Sentral ng Pilipinas (BSP) - Residential Property Price Index | It's the central bank's official property-price index with published methodology. | We used it to understand whether prices were rising or cooling nationally and outside Metro Manila. We also used it to ensure our early 2026 price tone matches the latest trend data. |
| BSP - Daily PHP/USD Exchange Rate | It's the central bank's official daily peso-per-dollar series. | We used it to convert peso budgets into USD for foreign buyers. We applied ₱59 = $1 as our early-2026 rule-of-thumb based on this series. |
| BIR - Capital Gains Tax Guidelines (Form 1706) | It's an official Bureau of Internal Revenue document stating the CGT rate. | We used it to explain the 6% capital gains tax rule and the tax base calculation. We also used it to clarify why buyers often get involved in tax paperwork. |
| BIR - Documentary Stamp Tax Guidance (Form 2000-OT) | It's an official BIR guideline for DST returns in property transfers. | We used it to explain what DST is, when it's due, and the 1.5% rate. We paired it with statutory references for the actual percentage. |
| DOF-BLGF - Transfer Tax Memo | It's the Department of Finance's local-tax authority citing the Local Government Code. | We used it to size the local transfer tax and explain why the exact percentage varies by LGU. We also used it to ground our closing costs section in primary government guidance. |
| Philippine Statistics Authority (PSA) - Construction Cost per Sqm | It's the national statistics agency publishing construction-cost metrics. | We used it to estimate new-build replacement cost per sqm as a reality check on pricing. We also used it to explain why build cost plus land value sets a floor for livable housing. |
| Pag-IBIG Fund - Acquired Assets Listings (Iloilo) | It's a direct list of Pag-IBIG acquired assets with minimum bids by location. | We used it to anchor realistic low-end house budgets around Iloilo province towns. We treated these as floor prices and compared them to private listing portals. |
| FazWaz - Iloilo City House Listings | It's a large listing portal that publishes clear median price snapshots. | We used it as our main median anchor for Iloilo City houses at ₱4.84 million. We also used it to split prices by neighborhood patterns like Mandurriao versus older districts. |
| DotProperty - Iloilo City House Listings | It's an established portal with itemized listing prices and floor areas. | We used it to cross-check the FazWaz median with real asking prices and sizes. We also used it to pull concrete neighborhood and subdivision names like Westwoods in Mandurriao. |
| MORE Power - Iloilo City Residential Electricity Rates | It's the local distribution utility publishing monthly residential rates. | We used it to estimate realistic electricity bill ranges for Iloilo-based houses. We also used it to explain why utility costs are location-specific on Panay. |
| Philippine News Agency - Iloilo Water Tariff Adjustment | It's the government's newswire citing the regulator-approved tariff change. | We used it to size water costs in Iloilo City after the late-2025 adjustment. We treated it as a public record pointer to the LWUA-approved change. |
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