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This guide covers the current housing prices in Panay Island as of the first half of 2026, with data we constantly update to keep it accurate.
You will find median prices, price per square meter, neighborhood breakdowns, and what you can actually buy at different budgets.
We have also included how prices have changed over time and what additional costs you should expect beyond the listing price.
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.
Insights
- Boracay condos on Panay Island trade at roughly double the price per square meter of Iloilo City condos, making the island's average heavily influenced by which submarket dominates listings.
- The typical discount from listing price to final sale on Panay Island is around 8%, but resale houses can see negotiations up to 12% off the asking price.
- New construction in Panay Island commands a 12% premium over comparable older homes, largely due to lower maintenance risk in the humid coastal climate.
- Entry-level studio condos in Iloilo City start around ₱1.3 million ($22,000), making Panay Island one of the more affordable urban markets in the Philippines.
- Panay Island housing prices have risen about 55% over the past decade in nominal terms, but only 15% when adjusted for inflation.
- House and lot properties make up about 55% of all residential listings on Panay Island, reflecting strong family-home demand outside the condo-heavy Boracay market.
- The price gap between Boracay's premium zones (₱200,000+ per sqm) and inland towns like Kalibo (₱35,000 per sqm) is nearly six times, the widest spread on the island.
- Iloilo City's Mandurriao district has become the main condo hub on Panay Island, with prices per square meter now matching some Manila suburban areas.
What is the average housing price in Panay Island in 2026?
The median housing price is more useful than the average because it reflects what a typical buyer actually pays, without being pulled up by a few very expensive luxury properties in places like Boracay.
We are writing this as of the first half of 2026 using the latest data from the Bangko Sentral ng Pilipinas and major property listing portals, all of which we manually verified.
The median housing price in Panay Island in 2026 is ₱4.8 million (about $82,000 or €70,000), while the average housing price is ₱6.2 million (about $106,000 or €90,000). The gap exists because high-end Boracay condos and prime Iloilo properties push the average higher than what most buyers will encounter.
About 80% of homes on the Panay Island market in 2026 fall within the ₱2 million to ₱10 million range (roughly $34,000 to $170,000).
A realistic entry range in Panay Island in 2026 is ₱1.3 million to ₱2.2 million ($22,000 to $37,000 or €19,000 to €32,000), which typically gets you a studio or small one-bedroom condo of 22 to 28 square meters in Iloilo City neighborhoods like Jaro.
Luxury properties in Panay Island in 2026 generally range from ₱20 million to ₱60 million ($341,000 to $1 million or €289,000 to €868,000), and at this level you can expect resort-style condos of 50 to 90 square meters in Boracay's premium zones with full amenities and property management.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Panay Island.
Are Panay Island property listing prices close to the actual sale price in 2026?
The estimated typical discount from listing price to final sale price in Panay Island in 2026 is around 8%.
This happens mainly because sellers build in negotiation room and buyers use bank appraisals, repair needs, or title processing costs as bargaining chips. The discount varies most with property type: new developer condos typically see smaller discounts of 3% to 6% since pricing is fixed, while resale houses often have larger discounts of 7% to 12% because there is more room for back-and-forth negotiation.
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What is the price per sq m or per sq ft for properties in Panay Island in 2026?
As of early 2026, the median housing price per square meter in Panay Island is approximately ₱96,000 ($1,635 or €1,389), which translates to about ₱8,900 per square foot ($152 or €129). Because Panay Island includes both affordable provincial towns and premium Boracay properties, actual prices per square meter vary widely depending on location.
Beach and leisure condos in Boracay have the highest price per square meter in Panay Island in 2026, while older houses on larger lots in inland towns like Kalibo or Roxas City have the lowest, because location premiums and building quality drive most of the difference.
In Panay Island in 2026, the highest prices per square meter are found in Boracay's premium zones (₱200,000 to ₱320,000 per sqm) and Iloilo City's Mandurriao district (₱150,000 to ₱230,000 per sqm). The lowest prices per square meter are in Kalibo and Roxas City, where you can find properties at ₱35,000 to ₱90,000 per square meter.
How have property prices evolved in Panay Island?
Compared to January 2025, housing prices in Panay Island have risen by about 6% in nominal terms, or roughly 2% when adjusted for inflation. This steady growth comes from continued end-user demand in Iloilo City, where employment and education keep household formation strong, plus firm tourism-linked demand in Boracay.
Looking back 10 years to January 2016, Panay Island housing prices have increased by about 55% in nominal terms, or around 15% in real (inflation-adjusted) terms. The main drivers over this decade have been the rise of modern condo developments in Iloilo City and Boracay's growing international appeal as a leisure destination with limited prime coastal supply.
By the way, we've written a blog article detailing the latest updates on property price variations in Panay Island.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Panay Island.
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 types of properties are available in Panay Island and how do their prices compare in 2026?
In Panay Island in 2026, house and lot properties make up about 55% of listings, condominiums account for 30%, townhouses represent 10%, and vacant residential lots marketed for future homes cover the remaining 5%, reflecting the island's mix of family-oriented demand in Iloilo and investment-focused condo buying in Boracay.
The average price for condominiums in Panay Island in 2026 is ₱5.6 million ($95,000 or €81,000), while house and lot properties average ₱6.5 million ($111,000 or €94,000). Townhouses are the most affordable option at an average of ₱4.2 million ($72,000 or €61,000), making them popular for first-time buyers looking for more space than a condo.
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in Panay Island?
- How much should you pay for lands in Panay Island?
How do property prices compare between existing and new homes in Panay Island in 2026?
New construction in Panay Island in 2026 commands a premium of about 12% compared to similar older properties.
This premium exists because new builds come with modern finishes, amenities like pools and gyms, security features, and lower near-term maintenance risk, which matters a lot in Panay Island's humid and coastal environment where older homes often need waterproofing, roof work, or termite treatment.
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How do property prices vary by neighborhood in Panay Island in 2026?
Boracay's premium zones are the most expensive area in Panay Island, with condos ranging from ₱10 million to ₱35 million ($170,000 to $596,000). Prices here are driven by beachfront proximity, international tourism demand, and limited supply of prime resort-style residences.
Iloilo City's Mandurriao district is the main urban hub for modern condos, with prices typically ranging from ₱4 million to ₱12 million ($68,000 to $204,000). This area attracts professionals and families because of its proximity to business districts, malls, and newer township developments.
Roxas City in Capiz province offers some of the most affordable housing on Panay Island, with homes ranging from ₱1.8 million to ₱5.5 million ($31,000 to $94,000). This provincial hub appeals to buyers looking for lower costs while still having access to city services and infrastructure.
You will find a much more detailed analysis by areas in our property pack about Panay Island. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Type | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Boracay (premium zones) | Leisure / investor | ₱10M-₱35M ($170k-$596k) | ₱200k-₱320k ($3,400-$5,450) | ₱18.6k-₱29.7k ($316-$505) |
| Boracay (value pockets) | Leisure / value | ₱7M-₱14M ($119k-$239k) | ₱150k-₱220k ($2,550-$3,750) | ₱13.9k-₱20.4k ($237-$347) |
| Iloilo - Mandurriao | Modern / commute | ₱4M-₱12M ($68k-$204k) | ₱150k-₱230k ($2,550-$3,920) | ₱13.9k-₱21.4k ($237-$364) |
| Iloilo - Jaro | Schools / balanced | ₱2.5M-₱8M ($43k-$136k) | ₱100k-₱160k ($1,700-$2,720) | ₱9.3k-₱14.9k ($158-$253) |
| Iloilo - City Proper | Central / practical | ₱2.5M-₱7M ($43k-$119k) | ₱90k-₱140k ($1,530-$2,380) | ₱8.4k-₱13k ($143-$221) |
| Iloilo - La Paz | Local / food district | ₱2M-₱6M ($34k-$102k) | ₱80k-₱130k ($1,360-$2,210) | ₱7.4k-₱12.1k ($126-$205) |
| Iloilo - Molo | Family / heritage | ₱3M-₱9M ($51k-$153k) | ₱90k-₱150k ($1,530-$2,550) | ₱8.4k-₱13.9k ($143-$237) |
| Iloilo - Arevalo | Family / coastal | ₱3M-₱10M ($51k-$170k) | ₱70k-₱120k ($1,190-$2,040) | ₱6.5k-₱11.1k ($111-$189) |
| Pavia (Iloilo) | Family / value | ₱2.5M-₱7M ($43k-$119k) | ₱60k-₱110k ($1,020-$1,870) | ₱5.6k-₱10.2k ($95-$174) |
| Oton (Iloilo) | Coastal / value | ₱2M-₱6.5M ($34k-$111k) | ₱55k-₱100k ($940-$1,700) | ₱5.1k-₱9.3k ($87-$158) |
| Roxas City (Capiz) | Provincial hub | ₱1.8M-₱5.5M ($31k-$94k) | ₱40k-₱90k ($680-$1,530) | ₱3.7k-₱8.4k ($63-$143) |
| Kalibo (Aklan) | Airport access / value | ₱1.6M-₱5M ($27k-$85k) | ₱35k-₱80k ($600-$1,360) | ₱3.3k-₱7.4k ($55-$126) |
How much more do you pay for properties in Panay Island when you include renovation work, taxes, and fees?
When you factor in taxes, transfer fees, registration costs, and potential renovation, buyers in Panay Island in 2026 should expect to pay an additional 6% to 25% on top of the purchase price, depending on the property condition and deal structure.
For a property around $200,000 (₱11.75 million), you would typically pay about ₱530,000 ($9,000) in taxes and fees, plus ₱700,000 to ₱1.4 million ($12,000 to $24,000) if you need a moderate renovation. This brings your total additional cost to roughly ₱1.2 million to ₱1.9 million ($20,000 to $33,000), meaning you could end up paying ₱13 million to ₱13.7 million ($221,000 to $233,000) all in.
For a property around $500,000 (₱29.4 million), taxes and fees would run about ₱1.3 million ($22,000), and a full renovation might add ₱2 million to ₱4 million ($34,000 to $68,000). Your total all-in cost could reach ₱32.7 million to ₱34.7 million ($557,000 to $591,000).
For a property around $1,000,000 (₱58.7 million), expect taxes and fees of about ₱2.6 million ($44,000), plus renovation costs of ₱3 million to ₱6 million ($51,000 to $102,000) for high-end finishes. This puts your total at roughly ₱64.3 million to ₱67.3 million ($1.1 million to $1.15 million).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Panay Island
| Expense | Category | Estimated Cost Range and Explanation |
|---|---|---|
| Documentary stamp tax | Taxes | ₱50,000-₱600,000 ($850-$10,200), which is about 1% to 1.5% of the property price. This is a national tax applied to the transfer documents and scales with the property value. |
| Local transfer tax | Taxes | ₱30,000-₱400,000 ($510-$6,800), typically 0.5% to 0.75% of the price. This goes to the local government unit where the property is located and varies slightly by municipality. |
| Capital gains tax (if applicable) | Taxes | Usually 6% of the selling price or zonal value, whichever is higher. In many transactions, this is the seller's responsibility, but it can affect negotiations. |
| Registration fees | Fees | ₱20,000-₱200,000 ($340-$3,400), about 0.3% to 1% of the price. This covers the cost of registering the new title with the Registry of Deeds and follows a sliding scale. |
| Notary fees | Fees | ₱15,000-₱60,000 ($255-$1,020). Notaries charge for preparing and notarizing the deed of sale and other documents, with fees varying by complexity and property value. |
| Title transfer and admin | Fees | ₱10,000-₱40,000 ($170-$680). This covers miscellaneous administrative costs like document processing, certified true copies, and expediting fees. |
| Light renovation | Renovation | ₱60,000-₱700,000 ($1,020-$11,900). Covers painting, minor repairs, fixture updates, and cosmetic improvements. Condos tend toward the lower end while houses cost more. |
| Full renovation | Renovation | ₱500,000-₱3,000,000 ($8,500-$51,000). Includes kitchen and bathroom remodeling, waterproofing, roof repairs, electrical updates, and structural work for older 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.
What properties can you buy in Panay Island in 2026 with different budgets?
With $100,000 (₱5.87 million) in Panay Island in 2026, you could buy a 2-bedroom condo of about 45 to 55 square meters in Iloilo City's Jaro district (existing unit in a mid-rise building), a newer townhouse of 70 to 90 square meters in Pavia, or a small house and lot of 90 to 110 square meters in Roxas City.
With $200,000 (₱11.75 million), you could purchase a new 2-bedroom condo of 60 to 75 square meters in Iloilo City's Mandurriao district with modern amenities, a family house and lot of 140 to 180 square meters in Iloilo's Arevalo or Molo districts (existing but upgraded), or an entry-level Boracay condo of 30 to 45 square meters in a value pocket location.
With $300,000 (₱17.6 million), you could get a premium 2-bedroom condo of 80 to 95 square meters in Mandurriao with a higher floor and better views, a large family house of 200 to 260 square meters in Iloilo's suburbs like Pavia or Oton with parking and a garden, or a 1 to 2-bedroom Boracay condo of 45 to 65 square meters closer to premium resort areas.
With $500,000 (₱29.4 million), you could buy a high-end Boracay condo of 60 to 90 square meters with prime leisure positioning and a full amenity package, a luxury house and lot of 280 to 350 square meters in Iloilo's prime suburban areas with modern finishes and landscaping, or a small multi-unit residential property with 3 to 5 doors in Iloilo City for rental income.
With $1,000,000 (₱58.7 million), you could acquire a top-tier Boracay residence such as a large condo or villa-style property in a premium zone, a large modern compound-style house in Iloilo's prime growth areas with custom construction and high-end finishes, or a prime mixed residential holding with substantial land and improvements in an Iloilo growth corridor.
With $2,000,000 (₱117.5 million), the market becomes quite thin with fewer listings and more off-market deals. At this level, you could pursue an ultra-prime Boracay beachfront-adjacent residence (which is rare), a portfolio of 2 to 4 premium Boracay condos in a managed development, or buy prime land and develop a custom high-end residence from scratch, which is often the most practical way to deploy this budget in Panay Island.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Panay Island.
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 RPPI Report | This is the Philippine central bank's official house price index publication based on actual bank mortgage data. | We used it as the ground truth benchmark for Philippines-wide median prices and recent price growth. We then scaled Panay estimates using local market data. |
| BSP RREPI Historical Data | This is an official BSP statistics table showing long-run housing price inflation history going back over a decade. | We used it to anchor the 10-year direction of price changes nationally. We then adjusted that trend for Panay using the local market mix. |
| Dot Property Philippines | This is a major property portal that publishes transparent market insight metrics computed from its large database of active listings. | We used it to estimate Iloilo City condo and house median prices and price per square meter. We also used Boracay condo data from their market insights. |
| Colliers Philippines | Colliers is a global commercial real estate services firm that publishes quarterly research reports on Philippine property markets. | We used their quarterly property market reports to validate price trends and cross-check our listing-based estimates for Iloilo City. |
| AsiaVillas Philippines | This is a long-running real estate brokerage site with detailed listing pages and clear location context for provincial markets. | We used it as a secondary cross-check for provincial city pricing in Roxas City. We also used it to verify our floor estimates for the 80% price range. |
| Wise | Wise is a widely used transparent foreign exchange reference with published mid-market rates. | We used it to convert all PHP figures into USD as of the first half of 2026 at a rate of 1 USD = ₱58.73. We applied this rate consistently across all tables. |
| Xe Currency | Xe is a trusted global currency data provider used by businesses and travelers for exchange rate information. | We used it to cross-check our PHP to USD and EUR conversions. We also referenced it for currency chart trends. |
| Iloilo Condominiums | This is a specialized local site with buyer guides and detailed information specific to the Iloilo condo market. | We used their buyer's guide to understand typical transaction costs and to validate our estimates for entry-level condo pricing in Iloilo City. |
| Camella Isabela | Camella is one of the largest homebuilders in the Philippines with transparent pricing for their developments including Boracay. | We used their published condo pricing for Boracay to help define the luxury range and validate our upper-end estimates. |
| Supreme Court E-Library | This is the official digital repository for Philippine legal documents including fee schedules from government agencies. | We used it to verify registration fee schedules and understand the legal framework for property transfer costs. |
| Philippine Statistics Authority | PSA is the official government statistics agency that publishes inflation data and economic indicators. | We used their Consumer Price Index data to calculate real (inflation-adjusted) housing price changes over time. |
| Bureau of Internal Revenue | BIR is the Philippine government tax authority that sets and publishes tax rates for property transactions. | We used their published rates for documentary stamp tax and capital gains tax to build our transaction cost estimates. |
| Lamudi Philippines | Lamudi is another major property portal in the Philippines with extensive listings across different regions. | We used it as an additional cross-reference for listing prices in Iloilo and to verify the range of property types available. |
| Property Asia | Property Asia aggregates listings from multiple sources and provides market trend information. | We used it to cross-check neighborhood price ranges and verify that our estimates aligned with multiple listing sources. |
| Bureau of the Treasury | The Bureau of the Treasury publishes Philippine government bond rates and economic data. | We used their data to understand the broader economic context and interest rate environment affecting housing demand. |
| Philippine Star | PhilStar is a major national newspaper that covers real estate market news and development announcements. | We used their real estate news coverage to stay informed about major developments and market trends in the Visayas region. |
| Philippine Daily Inquirer | Inquirer is the Philippines' largest newspaper and covers property market developments and economic news. | We used their property section to verify major project launches and understand buyer sentiment in the Iloilo market. |
| Megaworld Corporation | Megaworld is one of the largest property developers in the Philippines with major projects in Iloilo. | We used their published pricing for Iloilo Business Park developments to understand premium condo pricing in Mandurriao. |
| Ayala Land | Ayala Land is a top-tier Philippine developer known for master-planned communities and quality developments. | We used their project information to understand the premium segment of the Iloilo market and validate high-end pricing. |
| SM Development Corporation | SMDC is a major developer focused on affordable to mid-market condos with nationwide presence. | We used their pricing to understand entry-level and mid-market condo options in Iloilo City. |
| Filinvest Land | Filinvest is a major developer with residential projects across the Philippines including the Visayas. | We used their house and lot pricing to understand suburban and township development costs around Iloilo. |
| Land Registration Authority | LRA is the government agency responsible for property registration and publishes official fee schedules. | We used their published fee schedules to accurately estimate registration and title transfer costs for buyers. |
| Boracay Informer | This is a local news source covering Boracay island developments, tourism, and real estate. | We used their coverage to understand Boracay's unique market dynamics and verify our premium zone pricing estimates. |
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