Dumaguete tops the list of most affordable cities to buy starter homes outside of Metro Manila, an Asian real estate magazine said.
Property Report listed six highly urbanized cities outside of the National Capital Region for house purchases, specifically for two-bedroom homes that are priced below P1 million.
Topping the list was Dumaguete, where prices were said to start at P410,000.
“Dumaguete is particularly popular with college students due to it playing host to Silliman University – one of Asia’s first American private universities,” Property Report said last week.
It added that the city was also popular to retirees as Dumaguete had been voted as one of the seven best places to retire in the world under the 2014 Retire Overseas Index — released by Live and Invest Overseas — due to its beaches, good healthcare facilities and affordable real estate.
Following Dumaguete on the list was Davao City, where two-bedroom homes can go for as low as P450,000.
“The biggest draw of Davao is that it’s consistently cited as one of the Philippines’ safest cities,” the magazine said, noting that it is also the most populous city in Mindanao and the biggest in terms of land area.
Third on the list was Bacolod City, which is known for its modern airport, good infrastructure and a burgeoning business process outsourcing (BPO) sector. Two-bedroom starter homes in the city start from P550,000.
Other cities on the list were Luzon-based Calamba in Laguna and Angeles in Pampanga, where two-bedroom homes begin at P605,000 and P650,000, respectively.
Also on the list was Iloilo City, which offers two-bedroom homes that can be bought for as low as P908,0000.