It Seems Condo Rental Prices In Cebu Rival Those In The Usa....

[Albert Russell]

I will be retiring in the Philippines later this year.  

 

I have visited the country many times, and I will probably live in Cebu, if I can afford to do so.   

 

I began to look seriously for condo rentals in the last few weeks, and have been surprised at the pricing.  

 

I just got home from a trip to visit a friend in Thailand last week, while visiting Jomtien Beach and Chiang Mai, I walked through several great condos (nice buildings, leather furniture, 50" flat screens..70 sq mt living space, view...) for about 20,000B a month ($650).

 

I still would prefer to live in the Philippines, but in checking various real estate listings in cebu (Sulit, Craigs List, Cebu Classifieds, Locanto..etc), I am seeing nicer furnished one bedroom condos in part of town i am looking at (Osmena Circle/Ayala) are going for about 50,000 ($1125/mo).  I have seen some in the IT park for as much as 60,000p.  These places range between 45 and 60 sq meters.  This about what i am paying for living in a very nice place here in Southern California with a bigger living area and much better ammenities (although unfurnished).

 

Unfortunately, my budget (~$2500/mo) will not allow me to pay that much for a place to stay and still have a lot of money left over after food and utilities for a extensive social life. Travel around the Philippines would also be limited.  

 

Since i recently broke up with my Cebuana girlfriend, I will be living alone initially, and so would probably not want to live in a house to begin with.   I am wondering if is possible to find a nice one-bedroom condo in the area of Cebu I would want to live in for around 35,000p a month.  If not, I guess i will have to find a small studio for that price for my 6'5" frame.

 

It seems that the more I look into retiring in the Philippines and living in Western style comfort, the more i am coming to the conclusion that the price is about the same as in the USA...with a few exceptions.

 

 

[MikeB]

I began to look seriously for condo rentals in the last few weeks, and have been surprised at the pricing.

Foreigners who will pay almost any price and justify it by comparing prices with their home countries are one of the main reasons prices are high. Apples and oranges. Wherever there are a lot of foreigners there are high prices. Like Cebu City.

I am wondering if is possible to find a nice one-bedroom condo in the area of Cebu I would want to live in for around 35,000p a month.

You shouldn't have any problem if you look around. I was paying p9k for the last apt I rented in Cebu City. It was a (very) small 2B/R. I thought it was a good deal until I found out months later that the owner had been advertising it for 7k. Always ask for "last price", it's part of the culture.

It seems that the more I look into retiring in the Philippines and living in Western style comfort, the more i am coming to the conclusion that the price is about the same as in the USA...with a few exceptions.

Agreed.

[Dave Hounddriver]

It seems that the more I look into retiring in the Philippines and living in Western style comfort, the more i am coming to the conclusion that the price is about the same as in the USA...with a few exceptions.  

Agreed.

Indeed I also agree with that.

[nigelmac]

It really does look a lot more expensive in Cebu City but I have been reliably informed that the prices you see advertised on the internet are aimed at westerners and that you can quite easily negotiate at 40% less so don't loose hope I am in a similar situation as you Albert, waiting to go and in the mean time checking into everything good luck

[jpbago]

There is a new condo building with units of 54 sqm asking P3.2M in Bacolod. Bad view. Rent would have to be high.

[earthdome]

I looked at 2 new condo developments in Baguio. Prices were around 100,000 php per sqm.

 

I also looked at some land up on a mountain ridge just outside of Baguio with a view of the China sea. The neighboring lot had a very nice home the owner let us see that cost 8 million pesos to build plus the cost of the land which is around 4000 php/sqm. Construction costs are a bit more here in the mountains in a location like this because you must ensure the house is attached to the bedrock so it can better hold up during an earthquake and ensure it is not susceptible to landslides.

[Albert Russell]

Thank you for your replies.   If I decide to live in the Philippines, Dumaguete or Davao are beginning to look better and better.  There are plenty of fairly nice places to be had at reasonable prices....including some nice bungalows and houses right on the beach for 20,000-30,000p in Duma.  With the new IT park in full swing, comfortable condos in downtown Cebu seem to be at a premium.   Makati is always going to be high as well, and anywhere in Manila would not be a paradise to retire to.

 

Another thing that I am going to start considering much more carefully is finding an adventurous Filipina girlfriend and moving to Thailand with her, something more and more Ex-pats living in Thailand are doing.

 

As I said in my first post...the quality of life you can have is much higher than in the Philippines with the same budget.  Once you get over $2000/mo, you really can live an upscale lifestyle for two, eating quality food, and staying in first-class western-style accommodations....the type of lifestyle that would cost me at least $4,000/$5,000 a month in the USA.  You can even do it more cheaply, but still with a high degree of comfort and safety (~$1500) if you watch your expenses a bit.

 

I love island hopping as much as the next guy, and I find the Philippines to be a beautiful place with very friendly people.  But... for me, the biggest attraction of the country has always been the lovely women who live there.  Once I find the right one, and if I am not enjoying my quality of life in the Philippines, I can simply hop on a plane to Thailand ($200-$300 r/t) and see if we like it better there.

[davewe]

Thank you for your replies.   If I decide to live in the Philippines, Dumaguete or Davao are beginning to look better and better.  There are plenty of fairly nice places to be had at reasonable prices....including some nice bungalows and houses right on the beach for 20,000-30,000p in Duma.  With the new IT park in full swing, comfortable condos in downtown Cebu seem to be at a premium.   Makati is always going to be high as well, and anywhere in Manila would not be a paradise to retire to.

 

Another thing that I am going to start considering much more carefully is finding an adventurous Filipina girlfriend and moving to Thailand with her, something more and more Ex-pats living in Thailand are doing.

 

As I said in my first post...the quality of life you can have is much higher than in the Philippines with the same budget.  Once you get over $2000/mo, you really can live an upscale lifestyle for two, eating quality food, and staying in first-class western-style accommodations....the type of lifestyle that would cost me at least $4,000/$5,000 a month in the USA.  You can even do it more cheaply, but still with a high degree of comfort and safety (~$1500) if you watch your expenses a bit.

 

I love island hopping as much as the next guy, and I find the Philippines to be a beautiful place with very friendly people.  But... for me, the biggest attraction of the country has always been the lovely women who live there.  Once I find the right one, and if I am not enjoying my quality of life in the Philippines, I can simply hop on a plane to Thailand ($200-$300 r/t) and see if we like it better there.

I had a similar thought for a hot minute. I took my wife to Chiang Mai last April. We had a nice time but she was clear that she would not want to live there. For one thing everyone (and I mean everyone) thought she was Thai, spoke to her in Thai and asked her where (in Thailand) she was from. Freaked her out.

 

I did like Chiang Mai and agree that you could live there more cheaply. But you are comparing apples to oranges between a city of 170,000 and metro Cebu City with over 3 million.

 

Going to Cebu City and expecting to live cheaply and in a Western lifestyle is difficult. Either select a smaller city (like you suggested with Dumaguete or Davao), or adjust your notion of a Western lifestyle. It only makes sense that if someone wants a Western lifestyle the prices will be similar to the West.

 

Even in my American metropolitan area the different between surrounding towns and the city might mean triple the rent or mortgage payment: the same is true in Cebu City. That being said, others have indicated that the online listings are very high, and cheaper rents or home prices can be had, particularly if a Filipina partner does the negotiating.

 

But bottom line, if you want to live like an American (or European) with your fave Western foods, a nice condo or gated community, maybe own a car, and live in a large metropolitan area - well, it's gonna be tough to do it on the cheap.

 

Me? I prefer to live in a smaller city or outside of a large one. Next month wife and I will be headed for PI and will check out Dumaguete (and nearby Valencia) and Tagbilaran and Panglao in Bohol. I have a Western lifestyle currently  and frankly am looking in retirement to downsize it - at least a bit.

[Albert Russell]

Hi Dave,

 

Thank you for your reply.

 

I was not trying to do anything on the cheap.  I just don't want to spend 45,000p for a 50 square  meter condo with poor furniture if I can help it, and have to pay condo dues on top of that.  The apartments/condos I have seen in central Cebu just seem to be unreasonably expensive for what you get.

 

Just a FYI. The entire island of Cebu had 2.6 million people in 2012. so I am pretty sure your Cebu City population estimate is off.  The Chiang Mai metropolitan area had 960,000 people living in it as of 2008.  I find it far more cosmopolitan than Cebu City.  It has 1100 different hotels and literally thousands of restaurants with every type of food imaginable. It is a fascinating place.

 

There are a lot of things to like about the Cebu however.  The friendliness of the people (the women in particular) and its proximity to other beautiful islands are things in its favor.

 

As far as everything else you said...I think it is all spot on.  My ex girlfriend had the same problems in Thailand..although it was a source of amusement to her.  It is expensive to live a Western lifestyle in Cebu.  The question is why?  Hotels in that exact area are great values...and as discussed, Thailand condos in most major cities are about half the price for better quality lodging.

 

...as far as moving to smaller city and downsizing..that is in the cards for me...but the recent breakup with my fiancé has left me without a partner, and I thought being centrally located in Cebu City would give me the best opportunity to find a replacement for her.

Edited March 19, 2014 by Albert Russell

[robert k]

Albert, you have to remember this is the RP we are talking about, it would be tough to count all of those in shanties that don't have an address and others that have no fixed address. The metro area extends quite far also all the way to Naga I've read because Naga wanted to become a city in it's own right, big court battle. Do you think those who live at and make their living from the city dump were counted? Remember that it is civil servants doing the counting. I could believe that they missed half. Just saying.