Iloilo City is booming, and if you haven’t noticed yet, it’s time to pay attention. As someone who’s been keeping a close eye on the real estate market here, I can tell you that Iloilo is quickly becoming a top spot for both investors and homebuyers. What’s driving all this growth? Well, it’s a mix of big business, residential demand, and game-changing infrastructure projects that are reshaping the city. Let me break it down in a way that makes sense, even if you’re not a real estate pro.
Big Business is Moving In
Iloilo has been a hotbed for outsourcing companies lately. You might have seen new BPO (business process outsourcing) offices popping up around town, and that’s because big companies are setting up shop here. Why? Iloilo has a solid pool of young, skilled workers (about 7,000 fresh grads every year), and it’s way cheaper to run operations here compared to Metro Manila.
Companies like Teletech, Concentrix, IQor, and others are already in Iloilo, and some of them are even expanding. This is great news for anyone looking for a job in the tech or customer service industry. Plus, all these businesses bring more money into the local economy, which is a win for everyone.
As of early 2024, Iloilo grabbed 13% of all office space deals outside Metro Manila—that’s about 16,000 square meters of office space! And there’s more on the way. By the end of this year, new buildings like SM Strata Tower 1 and Robinsons Cybergate Iloilo Tower 3 will add even more office space, meaning more job opportunities and more business growth.
The Housing Market is on Fire
It’s not just the office space that’s heating up—residential properties in Iloilo are in high demand, too. If you’re thinking about buying a house or lot here, prices have been going up steadily. From 2016 to 2023, house-and-lot prices in Iloilo rose by about 6% each year, which is pretty fast compared to other cities. The pandemic also made people realize they want more space, so demand for bigger lots has shot up, with prices increasing by about 12% annually.
Developers are getting creative with new residential areas. For example, Iloilo Business Park isn’t just about offices—it also has the Iloilo Convention Center. Over at Atria Park District, there’s a hospital and a university, making it a full-on lifestyle hub. And soon, Iloilo Centrale will offer more parks and open spaces, perfect for those looking for a place to unwind.
Game-Changing Infrastructure
Now, here’s where it gets really exciting. Iloilo is benefiting from some huge infrastructure projects that are going to completely change the landscape of the region. The biggest one? The Panay-Guimaras-Negros Inter-Island Link Bridge. When it’s finished (hopefully by 2030), this 32.5-kilometer bridge will connect Panay, Guimaras, and Negros islands. That means better connectivity, more business opportunities, and—you guessed it—higher property values.
Other projects like the Iloilo International Airport expansion and the Iloilo-Capiz-Aklan Expressway (ICAEx) are also in the works. These will make it easier to travel in and out of the city, further boosting the local economy.
Why It All Matters
So, what does this mean for someone like you? If you’re looking to invest in real estate or are just curious about how Iloilo’s growing, now is the time to keep an eye on this city. The combination of new businesses, rising property values, and major infrastructure projects means Iloilo is only going to keep growing. Whether you’re thinking about buying a home, starting a career here, or just watching how the city evolves, Iloilo’s real estate market is definitely one to watch.
