There are several things to consider when buying property in the Philippines, where the costs are one of the most important things. It might be challenging to find out how much is land in the Philippines, as the cost varies significantly per area. This article gives an overview of the Philippine land prices, including residential lots, agricultural land, and commercial land.
Land price in the Philippines
The average land price in the Philippines is ₱ 36.09 million ($644,140), while the average price of land per square meter in the Philippines is ₱ 71,756 ($1,281). Many locations in the Philippines saw a positive annual growth in land price, while the price has declined in a few other places. The table below gives an overview of the land prices in Metro Manila, Cebu, Quezon City, Makati, Cavite, Baguio, Iloilo, Davao, Aklan (Boracay Island), Palawan, and Pasig. These are the land prices for both residential and agricultural lots.
| Type | Average land price | Average land price/m2 | Annual growth | Average rent price |
|---|---|---|---|---|
| Manila | ₱ 50.18 million ($895,784) | ₱ 96,678 ($1,726) | +0.7% | ₱ 316,496 ($5,649) |
| Cebu | ₱ 7.67 million ($136,822) | ₱ 12,176 ($217) | +2.7% | ₱ 220,656 ($3,939) |
| Quezon City | ₱ 61.4 million ($1.1 million) | ₱ 114,742 ($2,048) | +1.3% | ₱ 247,839 ($4,424) |
| Makati | ₱ 82.93 million ($1.48 million) | ₱ 234,063 ($4,178) | -0.1% | ₱ 291,815 ($5,209) |
| Cavite | ₱ 10.56 million ($188,565) | ₱ 29,775 ($531) | +1.2% | ₱ 310,777 ($5,547) |
| Baguio | ₱ 3.08 million ($54,930) | ₱ 85,299 ($1,523) | -0.8% | ₱ 42,500 ($759) |
| Iloilo | ₱ 2.89 million ($51,654) | ₱ 11,197 ($200) | -0.1% | – |
| Davao | ₱ 3.91 million ($69,781) | ₱ 13,608 ($243) | -0.3% | ₱ 517,867 ($9,244) |
| Aklan (Boracay Island) | ₱ 36.74 million ($655,775) | ₱ 22,888 ($409) | 0% | – |
| Palawan | ₱ 44.76 million ($799,034) | ₱ 5,726 ($102) | +2.0% | – |
| Pasig | ₱ 92.82 million ($1.66 million) | ₱ 163,166 ($2,913) | 0% | ₱ 185,000 ($3,302) |
Additional costs to consider when buying land in the Philippines
When buying land in the Philippines, don’t forget to calculate additional costs, such as land purchase taxes or agency fees. These are the most important taxes and fees related to the sale of land in the Philippines:
- Transfer Tax: Property buyers must pay a Transfer Tax of 0.5% of the selling price to the Treasurer’s Office when changing the land ownership title.
- Documentary Stamp Tax (DST): The Documentary Stamp Tax is imposed at 1.5% of the land’s selling price and is paid by the buyer to execute the Deed of Sale.
- Registration Fee: The Registration Fee is paid to the Register of Deeds or Land Registration Authority (LRA) to transfer a land title.
- Real Property Tax (RPT): Property owners must pay an annual Real Property Tax, which is imposed at 1% for the provinces and 2% for Metro Manila based on the selling price.
- Notary fees: These are the fees for the legal services provided by a notary public during the sale process. This includes the preparation and notarization of contracts and other documents.
Buy land in the Philippines with Own Property Abroad
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Frequently Asked Questions (FAQs)
How much is the cost of transferring a land title in the Philippines?
The cost of transferring a land title in the Philippines typically ranges from 2% to 3% of the land’s selling price, including fees for documentary stamps, transfer taxes, and registration fees.
How much is 100 square meters of land in the Philippines?
100 square meters of land in the Philippines would cost approximately ₱ 7.18 million ($128,084), as the average price of a lot in the Philippines is ₱ 71,756 ($1,281) per square meter.
How much is 1 hectare of land in the Philippines?
1 hectare of land in the Philippines, being 10,000 square meters, costs about ₱ 717.56 million ($12.81 million), as the average land price in the Philippines is ₱ 71,756 ($1,281) per square meter.
How much is the price of agricultural land in the Philippines?
The price of agricultural land in the Philippines varies widely, typically ranging from ₱ 100 ($1.79) to ₱ 10,000 ($179) per square meter depending on location and land quality.
How much is land tax in the Philippines?
Land tax in the Philippines is generally 1% to 2% of the property’s assessed value, depending on the property’s location and classification.
Where can you find land for sale in the Philippines?
You can find land for sale in the Philippines through real estate websites and local property listings, as well as contact real estate agents who specialize in the area.
