ARE THERE still highly urbanized cities in the Philippines where start-up families can buy relatively spacious homes for no more than P1 million?
There are six such cities, according to property portal MyProperty.ph, and these are Dumaguete, Davao, Bacolod City, Calamba, Angeles and Iloilo.
In a statement, MyProperty.ph said these cities offered “laidback lifestyle, great culinary tradition, buoyant economies and, most importantly, affordable real estate” while still qualifying as “highly urbanized” cities.
The National Statistics Office defines a “highly urbanized” city as that with a minimum population of 200,000 and an annual income of at least P50 million.
In Dumaguete City—nicknamed the City of Gentle People—MyProperty.ph said that depending on the floor area, a two-bedroom house could cost as low as P410,000.
Located in Negros Oriental, the seaside city of Dumaguete is home to Silliman University, making it a popular college town in the Visayas. It is accessible by air via Sibulan Airport (aka Dumaguete Airport) and by sea, via ferry from neighboring Cebu Province.
Dumaguete is deemed as one of the best places to retire. Apart from its affordable real estate, the city boasts of pristine beaches and good healthcare facilities.
Davao City, despite being Mindanao’s business capital, offers a two-bedroom home for as low as P450,000, the real estate portal said.
The “Durian Capital of the Philippines” is the most populous city in Mindanao and is often cited as one of the country’s safest cities. It is also one of the country’s upcoming business process outsourcing (BPO) hubs.
In Bacolod, known as the “City of Smiles,” MyProperty.ph said a start-up family could purchase a two-bedroom house for as low as P550,000.
The capital city of Negros Occidental has a modern airport, good infrastructure, and has also been declared as a Center of Excellence by the Department of Science and Technology. It boasts of heritage homes owned by the sugar barons of yesteryears. Some of its prime areas host shopping malls and BPO centers.
In the case of Calamba, MyProperty.ph said this city had plenty of residential areas and subdivisions. A two-bedroom home with a beautiful view can be acquired for as low as P605,000, the portal said.
In Angeles City, one can find a two-bedroom home being sold for as low as P650,000, the portal said. “Angeles City’s newfound boom is fueling its real estate market. However, housing here is still quite affordable,” the portal said.
A city renowned for its culinary tradition, Pampanga’s Angeles City is also famous for the Clark Freeport Zone, a former US military installation that was turned into an economic zone after the Americans left in the early 1990s.
The city is accessible from Metro Manila via the North Luzon Expressway.
In Iloilo City, a two-bedroom home can be bought for as low as P980,000. The capital city of Iloilo Province has its own airport, seaports and fishports for international trading of marine products, a buoyant local economy, colorful festivals and mixed-use townships by large real estate developers.
Iloilo City has been drawing BPO companies given its high number of college graduates, the property portal said. This, it added, led to the city’s real estate boom.