The Philippines is a hidden treasure for those looking to buy a home or invest in real estate at a reasonable price without sacrificing the appeal of living in a tropical paradise. With the Philippines’ real estate market expanding, choosing locations where you can live at a lesser cost can be important to you. In this article, we will discuss where to find the cheapest place to live in the Philippines.
Cheapest places to buy property in the Philippines
The Philippines is a desirable destination due to its diverse range of real estate prospects, stunning archipelago, and hospitable culture. Identifying the cheapest place to live in the Philippines might entice foreigners interested in real estate. Here are the five cheapest places to buy property in the Philippines.
1. Davao City
Known for its cultural heritage and unwavering commitment to ecological conservation, Davao City stands out with its assortment of attractions. These include the esteemed Philippine Eagle Center, the lively Kadayawan Festival, and the stunning Mount Apo. The city’s strict anti-smoking policies and emphasis on environmentally friendly city development are examples of its progressive local government. The city is widely recognized as the safest in the Philippines. This is primarily due to its effective urban growth management while maintaining its natural areas, making it one of the cheapest places to live in the Philippines.
Average costs:
- Land: Pricing for land begins at ₱ 1,200 ($21.42) per square meter.
- Houses: The typical house price ranges from ₱ 2 million ($35,700) to ₱ 5 million ($89,250)making it one of the cheapest house and lot for sale in the Philippines.
- Condos: Prices for a modest studio or a two-bedroom condominium span from ₱ 1.8 million ($32,130) to ₱ 5 million ($89,250).
2. Bacolod
Known as the “city of smiles,” Bacolod entices investors and foodies with its seamless blend of cultural festivities, mouthwatering cuisine, and affordable real estate. Its allure as a sought-after home and place of employment is enhanced by its rich history and constantly growing economy. It is centered mostly around the IT and BPO industries and is one of the cheapest places to live in the Philippines. Foreigners can enjoy outdoor activities on the beautiful beaches and natural surroundings.
Average costs:
- Land: Prices for plots start as low as ₱ 800 ($14.28) per square meter.
- Houses: Beginning prices for cheap houses in the Philippines hover around the ₱ 1.5 million ($26,775) mark.
- Condos: Starting prices for condominiums are around ₱ 1.9 million ($33,915).
3. Iloilo
Situated in the center of the Visayas, Iloilo is a haven of cultural diversity and lively celebrations that attract a steady stream of visitors and investors. Known for its delicious seafood and dishes like La Paz Batchoy, Iloilo offers a culinary adventure and a taste of the past. Elegant colonial churches, ancient houses, and historically significant buildings line its roads, all combining with an emerging mix of modern cafés and corporate buildings, making it one of the best places to live in the Philippines.
Average costs:
- Land: Starting costs for land in quieter locales are from ₱ 1,000 ($17.85) per square meter.
- Houses: Houses may range from ₱ 2 million ($35,700) to ₱ 4 million ($71,400), making it one of the cheapest houses in the Philippines.
- Condos: Condominium options commence at ₱ 2 million ($35,700) per unit.
4. Cagayan de Oro
Cagayan de Oro is another one of the cheapest places to live in the Philippines, renowned throughout Northern Mindanao for its lively culture, rich history, and friendly people. The city is a global draw for adventure seekers, from white-water rafting and kayaking along the Cagayan de Oro River to other adrenaline-pumping activities. It has a vibrant downtown district with modern malls, bustling marketplaces, and a wide range of food options that appeal to local and international investors.
Average costs:
- Land: Prospective land buyers can find plots starting at ₱ 1,100 ($19.64) per square meter.
- Houses: The spectrum of house prices falls between ₱ 1.8 million ($32,130) and ₱ 3.5 million ($62,475), making it one of the cheapest house and lot for sale.
- Condos: The condominium market starts with units costing ₱ 1.5 million ($26,775).
5. General Santos
General Santos, known as the “Tuna Capital of the Philippines,” enjoys a thriving tuna trade alongside a diverse seafood-focused cuisine anchored by its lively waterfront. Breathtaking views like Mount Matutum frame the area and come alive during events like the Tuna Festival, which combines natural beauty with lively cultural festivities. General Santos welcomes investment and residency due to its affordable living costs and high quality of life, making it one of the best places to live in the Philippines.
Average costs:
- Land: Land values start at ₱ 900 ($16.07) per square meter.
- Houses: Prices range from ₱ 1.5 million ($26,775) to ₱ 3 million ($53,550), making it one of the cheapest houses in the Philippines.
- Condos: The condo market begins at an accessible ₱ 2 million ($35,700) threshold.
What is the cheapest place to live in the Philippines?
Affordable real estate can be found in several locations across the nation, even though others may charge more. Below are the five cheapest places to live in the Philippines:
- Quezon City: The prices are based on its high population density and the affordable living spaces it offers, resulting in a relatively economical cost of living ranging from ₱ 22,000 ($393) to ₱ 26,000 ($464) per month.
- Dasmariñas, Cavite: Prices are influenced by the city’s shift from agriculture to a real estate attraction. The city is considered one of the cheapest places to live in the Philippines, offering conveniences and affordable living, with estimated monthly expenses between ₱ 21,000 ($375) and ₱ 23,000 ($411).
- Iloilo City: The prices in Iloilo City are shaped by its status as a growing port and Business Process Outsourcing (BPO) hub, allowing for a low cost of living from ₱ 21,000 ($375) and ₱ 23,000 ($411) monthly, attractive for both business and leisure on a budget.
- Davao City: Living costs are determined by its reputation for safety, generous space, economic real estate options, and effective public transport. These contribute to manageable living expenses estimated at ₱ 19,000 ($339) to ₱ 22,000 ($393) per month.
- Bacolod City: The pricing stems from its friendly community and economic sustainability. It offers a comfortable standard of living with an expected monthly budget of ₱ 20,000 ($357) to ₱ 22,000 ($393) for its residents.
Cheapest land in the Philippines
The Philippines offers many opportunities for land investment. While some regions have seen significant development and correlating price hikes, areas remain where land is remarkably inexpensive. Here are the 5 places with the cheapest land in the Philippines:
- Samar: This area is one of the cheapest places to live in the Philippines and is known for its rural landscapes. Land costs can range from ₱ 100 ($1.79) to ₱ 300 ($5.36) per square meter, appealing particularly to those interested in secluded living.
- Agusan del Sur: Situated in northeast Mindanao, Agusan del Sur offers plentiful agricultural and residential land at budget-friendly prices. Prices for buyers looking to settle in this calm location range from ₱ 150 ($2.68) to ₱ 500 ($8.93) per square meter.
- Cotabato: This area is priced between ₱ 120 ($2.14) and ₱ 450 ($8.03) per square meter. Potential buyers should consider regional security issues while considering investment in the cheapest place to live in the Philippines, as some areas might be risk-prone.
- Leyte: An island within Eastern Visayas, starting at around ₱ 200 ($3.57) per square meter. This region is also one of the cheapest places to live in the Philippines and offers a mix of rural and semi-urban environments.
- Bukidnon: It is famous for its cool climate and fertile soils, perfect for plantation agriculture. Land prices beginning at ₱ 200 ($3.57) per square meter present a prime opportunity for investors seeking a tranquil life away from the city.
Cheapest houses and condos in the Philippines
Whether you’re a single professional, a starting family, or an investor, there are various options that provide both quality living spaces and affordability. Here you can buy the cheapest houses and condos in the Philippines:
- East Raya Gardens in Pasig City: Blends Indonesian aesthetics with serene Balinese gardens and water elements. It is one of the cheapest condos in the Philippines, offering three-bedroom condos for under ₱ 6 million ($107,100).
- Taguig’s Verawood Residences at Acacia Estates: Merges nature with urban living, providing family-friendly amenities with units starting from ₱ 5.5 million ($98,175), making it one of the cheapest places to reside in the Philippines.
- PortoVita Towers in Cubao: Offers mixed-use spaces with units starting from ₱ 2.5 million ($44,625), positioned as a prime residential and one of the cheapest condos in the Philippines.
- East Residences Ortigas in Pasig: It is highlighted for its strategic location and affordability. With units starting at ₱ 1.4 million ($24,990), it provides a gateway to urban living, making it one of the cheapest places to live in the Philippines.
- Cambridge Village in Cainta, Rizal: This community combines suburban comfort with city amenities to make it the cheapest place to live in the Philippines. Units start from ₱ 1 million ($17,850) and are located in a community with recreational facilities.
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Frequently Asked Questions (FAQs)
How much is the minimum cost of living in the Philippines?
The minimum cost of living in the Philippines for a single person is estimated at around ₱ 1,200 ($21.42)
per day, including rent and basic needs.
Does the Philippines have a low cost of living?
The Philippines has a low cost of living compared to many Western countries, which is attractive to expats and retirees.
What is the cheapest province to live in the Philippines?
The cheapest province to live in the Philippines is Leyte which is known for its low cost of living and affordable accommodation options, and it is also one of the cheapest place to reside in the Philippines.
What is the best low-cost place to live in the Philippines?
The best low-cost place to live in the Philippines is Quezon City because of its cheap housing, utilities, and transportation costs, and it is one of the cheapest place to reside in the Philippines.
Where can you find low-cost housing in the Philippines?
You can find low-cost housing in the Philippines through government housing programs like the National Housing Authority or by searching in less urbanized areas to find the cheapest place to reside in the Philippines.
