Iloilo, nicknamed the 'Heart of the Philippines', is a province stretching over 4,663 km² in the South of the country and Northeast of Panay Island, precisely in the Visayas region. The province is, in fact, in the West of the archipelago and consists of 75% virgin lands, 25% forests, and 7,000 hectares of redwood. The population of Iloilo City currently stands at just under half a million people, and the province of Iloilo is home to slightly over 2 million people.
Iloilo City is the main gateway to the major tourist and business destinations in the Western Visayas region. It is also deemed to be the region's political center, as nearly 90% of the regional government offices are found there. By car, Iloilo City is 25 minutes away from the Cabatuan International Airport. The province consists of 42 municipalities and 1,901 villages called barangays. Iloilo City is its capital city. The local population mainly speaks Hiligaynon.
Why choose Iloilo?
There are many reasons to make Iloilo your new home. Iloilo is an ideal hub outside of Manila to have access to different international destinations.
The people are warm and kind and are called ‘sweet' by other Filipinos. There is plenty of culture in Iloilo, wonderful local cuisine and many breathtaking beaches.
The cost of living in Iloilo is affordable, as is the cost of renting a condominium or apartment. However, it's worth noting that there is much less traffic than in other major cities in the Philippines. Post-COVID-19, there has been exponential growth in the job market, and growing investment opportunities are available.
Neighborhoods in Iloilo
The province of Iloilo has five congressional districts composed of 43 different municipalities. The following six municipalities are known for being the most affluent in Iloilo; Calinog, Dumangas, Janiuay, Lambunao, Miag-ao, Oton, and Pototan.
The City Proper district is the heart of Iloilo City, where the main government buildings are found. It also has the most service and commercial establishments among all districts. The main avenue stretching half a kilometer is called Calle Real. Jaro is a district where most of Iloilo's old rich families reside, building famous villas and mansions that are now tourist attractions. La Paz is said to be a good residential area because of its elevation and has many commercial establishments around.
Different types of accommodation available in Iloilo
Below are some of the condominiums and subdivisions in Iloilo City:
Condominiums:
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Avida Towers Iloilo ' Atria, at Mandurriao
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LaFayette Park Square, at Iloilo Business Park
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One Madison Place, at Iloilo Business Park
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The Palladium, at Iloilo Business Park
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Saint Honore & Saint Dominique, at Iloilo Business Park
Subdivisions:
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Green Meadows, at Pavia and Jaro
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Savannah Iloilo, at Oton
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Lumina Homes, at Oton
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Acropolis, at Arevalo
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La Residencia Iloilo, at Arevalo
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Monte Rosa Residential Estate, at Mandurriao
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Parc Regency Iloilo, at Pavia
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Park Place Iloilo, at Leganes
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Prime Estates, at La Paz
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Westwood Iloilo, at Jaro
Finding accommodation in Iloilo
There is no magical formula for finding appropriate accommodation in Iloilo. Expats searching from abroad can experience certain downfalls: it is best to be in the city to look for accommodation. Indeed, you will be able to inquire with your friends and contacts and stroll around different neighborhoods in search of the ideal housing unit. This will also allow you to find more affordable long-term rentals as you are more likely to find expensive and short-term offers online. Although most Filipinos speak English fluently, it is best to register with a real estate agency to have more chances of finding accommodation according to your criteria.
The following websites can be a good starting point for your housing hunt in Iloilo:
You are advised not to settle for a long term-rental before your arrival in the Philippines, as some owners may be disingenuous with the truth regarding housing offers and rent prices.
In case you have chosen a relocation company, the latter can help you find accommodation in Iloilo according to your specific needs. However, this can be quite expensive and is more appropriate in the case of an international transfer, whereby your employer is taking care of all costs.
Rent prices in Iloilo
The good news is that the rent prices are lower in Iloilo compared to other major cities such as Manila and Cebu. Feel free to negotiate with the owner. For instance, you will need some p6912/ USD 125 per month in the city center for a single-bedroom apartment against P3870 / USD 70 per month for the same in the outskirts. For a three-bedroom apartment, you will need about P15206/ USD 275 per month in the city center against USD 180 per month in the outskirts.
Your lease agreement in Iloilo
In general, you are required to pay a deposit equal to two months' rent when choosing to rent accommodation in Iloilo. You will also need to pay one month's rent upon signing the lease document. In some cases, the owner may request you to pay an advance rent varying from 6 months to one year, depending on the lease term. Regarding one-year term leases, they are automatically renewed for a similar period unless you give at least a month's prior notice to the owner of your intention to vacate the premises.
In some regions, written contracts are a rare practice, but do ask for one. However, according to real estate laws, a lease document has to be signed by both parties following verification and approval by a specialized lawyer.
A lease agreement in Iloilo (and the Philippines) is a contract between the lessor and the lessee which protects both parties; the property owner and the tenant. This grants the lessee the right to use a property in Iloilo that belongs to or is managed by the lessor for a predetermined period of time in exchange for recurring rental payments from the lessor. The lease does not grant the lessee any ownership rights.
For instance, if a tenant decides to move, a cancellation letter must be provided to the landlord one month in advance to give them ample time to find new tenants. The lease agreement will include names of the protagonists, witnesses, terms and conditions, rental rate, tenure, force majure and judicial relief information in the event of an issue.
Besides the deposit, a valid ID, a valid visa, and at times, your work contract will have to be produced before signing the lease agreement. The lease agreement will also need to be notarized by a notary public in Iloilo.
Stay legal, know your rights, and be safe, knowing that you can live comfortably and economically with legal rights under your belt.
Good to know:
Normally, the deposit should be refunded to you on vacating the apartment or condo. But in some cases, owners try to find faults in the state of the housing unit during your occupation period to avoid refunding the deposit. Moreover, some owners do not even bother to make an inventory of the premises before letting the housing unit. Feel free to take as many pictures as possible when visiting the housing unit and insist on an agreed inventory before moving in. It's better to be safe rather than sorry!
Buying property in Iloilo
Buying property in Iloilo can be a good investment, and there are more and more condos and apartments being built across Iloilo. The local real estate market is showing signs of growth post-COVID-19, which is promising for potential investors. Still, expats must have a valid visa in order to purchase property in Iloilo or anywhere else in the Philippines. Find out more in our article about Visas for the Philippines.
Keep in mind that expats in the Philippines can purchase property but not the land on which it is built. Land purchases in the Philippines are 40% ownership for the expat and 60% to a Filipino/a national. Condominium projects are similar to corporations in that 60% should be owned by Filipinos. Although it is clear that foreigners are not allowed to own land in the country, these rules are subject to certain exceptions, such as buying land through a corporation. If you want to explore these options, you are advised to seek legal advice.
Property prices in Iloilo
The average house price in Iloilo City is p5,568,570/ USD 100709.31. The average list price has decreased by 30.5% over the last year. The average list price per square meter for houses in Iloilo City is p60,270/ $1090 USD per m².
Useful links:
We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
