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These cities boast some of the most expensive houses in the Philippines, even rivaling those found in Metro Manila.
Much has been said and written about how expensive real estate is in Makati, Taguig, and San Juan. But looking at other cities like Cebu, Tagaytay, and Baguio, it seems that Metro Manila does not have the monopoly on pricey homes. In fact, houses in these cities boast asking prices that can rival those in Dasmariñas Village or Ayala Alabang—suggesting that the real estate boom is spilling over outside the Philippine capital.
Using data from its more than 90,000 property listings, Lamudi Philippines has compiled a list of the most expensive cities outside Metro Manila to buy a home, based on median price. As expected, popular locations like Cebu and Davao made the cut, but there are a few surprises as well. One thing is for sure, though—one or two of these cities should be on any property investor’s list.
1. Cebu City
Median house price: Php8.5 million
Most expensive house listed: Php150 million
Cebu has long been the Philippines’ second most important city, and is home to about 80 percent of the country’s domestic shipping companies. It is also the tourist gateway to central and southern Philippines, so homebuyers can enjoy proximity to both white-sand beaches and to a thriving central business district. This makes Cebu’s residential real estate the most expensive outside Metro Manila. Homes here can go as high as Php150 million, rivaling the pricey homes found in Makati or San Juan. Also, there are approximately 150 homes currently listed in Lamudi that have asking prices of Php20 million or higher.
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2. Tagaytay
Median house price: Php8.115 million
Most expensive house listed: Php53 million
Tagaytay is known for its spectacular views, sweater weather, and some pricey pieces of real estate. Some of the city’s most expensive houses—those with views of the nearby Taal Lake and Volcano—can go as high as Php53 million. At the moment there are almost 50 houses listed on Lamudi for Php20 million or above.
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3. Baguio
Median house price: Php7.5 million
Most expensive house listed: Php95 million
Baguio has been one of the Philippines’ most popular summer destination since the 1950s; hence, vacation or second homes are quite numerous—and expensive—here. A quaint lodge here with a fireplace and eight bedrooms can go as high as Php95 million. However, buyers here have plenty of inventories to choose from, with almost 400 properties currently listed on Lamudi and 147 on offer for Php10 million or higher.
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4. Angeles City
Median house price: Php4.5 million
Most expensive house listed: Php45 million
Although Angeles was significantly affected by the closure of the Clark Air Base, the city rebounded quite impressively after the creation of Clark Special Economic Zone, which saw it transform into a business, industry, aviation, and tourism hub. Angeles is also Central Luzon’s most expensive housing market, with more than 40 inventories having asking prices of Php10 million or higher.
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5. Cagayan de Oro
Median house price: Php4.3 million
Most expensive house listed: Php32 million
Cagayan de Oro is one of Mindanao’s most popular tourist destinations, and now is an emerging location for business process outsourcing (BPO) companies, making the city one of the most progressive and competitive in the Philippines. Houses in Cagayan de Oro can go as high as Php32 million, such as a nine-bedroom house in a golf resort and community. At present there are 50 houses listed on Lamudi that have asking prices of Php10 million and higher.
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6. Davao City
Median house price: Php4.137 million
Most expensive house listed: Php48 million
Davao City is also quite well known for its buoyant economy and attractive real estate market. National property developers, such as Ayala Land and Megaworld, have launched projects here, from high-end condos to mixed-use townships. However, houses here are a big drawcard for buyers, with some costing more than Php40 million, and 116 inventories have asking prices of Php10 million and up.
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7. Bacolod
Median house price: Php3.8 million
Most expensive house listed: Php50 million
The last city in this list, Bacolod ranks third nationally among the best Philippine locations for BPO and offshoring companies, which is part of the reasons its real estate is so highly sought after. Houses along the city’s main artery Lacson Street can go as high as Php50 million, while newly built properties in exclusive gated communities like Town and Country and Santa Clara Subdivision have asking prices of more than Php20 million. Currently there are 98 inventories listed on Lamudi for Php10 million or higher.
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