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- Category: Cost Of Living 2005
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Paul Agey = Cost of Living In Iloilo
Rentals: Iloilo City As of 3/2005.
2br Apartment: P4,500 with off-street parking.
2br House: P 12,000 - P18,000
3br Apartment P 12,000 with off-street parking.
3 br House P 14,000 to P 20,000
4 br house P 18,000 to P 25,000.
The majority of housing here is located in Gated/Guarded subdivisions in what is considered a nice area. The prices vary according to lot size, location and amenities. The higher end houses usually have separate Maids/Helpers quarters, large landscaped lots and swimming pools either at the house or in a clubhouse. Some of the nicer Gated/Guarded communities have Air conditioned Gyms, basketball and tennis courts available at the clubhouse for a small monthly membership fee.
It is usual to have 2 months down as a security deposit and first months rent down at move in time. The usual lease is for 1 year and monthly rentals are only available at pension type houses at a 20% discount if paid in advance in cash. Furnished Apartments/houses are extremely rare. Expect to purchase a refrigerator and range upon moving in as it is not usual for them to be provided here. Electricity and city water hookups are handled by the owner. They use a separate sub meter and in most instances are billed separately. Some places have wells in addition to city water. Some have only wells with water tanks that may run dry during dry season here. There are plenty of small businesses that haul water here during dry season.
CATV, DSL and telephone services are things you'll have to arrange separately, although the landlord maybe willing keep those services in their name. As a rule expect to put down P 1,000 for CATV and P 2,000 for telephone.
Land prices in the City area.
P 2,800 per square meter in a gated/guarded subdivision.
P 4,200 per square meter in a gated/guarded subdivision with amenities such as clubhouse, swimming pool, gym, tennis and basketball courts.
New home construction costs P1,200 per square meter for actual living space.
House and lot package deals:
There are several communities here that offer house and lot combinations. I've visited them all at least twice. Basically you put down a minimum of 40% down payment and can finance the rest at 4% a Month = 48% APR. They will finance for a maximum of 10 years. A 10% discount for cash or 2 years interest free financing is offered. Typical 2-3 bedroom houses are small by American standards and are 2 story houses that are on less than 100 square meters of lot space. The average price for this option starts a P 2.5 Million and up depending on the model.
This is the most expensive and least desirable option in my opinion.
Monthly Living expenses:
Rent 3 br 3 ba Apartment in a gated/guarded subdivision P 10,000
Electricity P 5,500 (I use aircon and major electrical appliances) 386k DSL Internet (unlimited) P 1,880 Telephone (local) P 1,200 CATV P 450 Maid P 2,000 Driver P 4,000 College tuition P2,500 Food 5 Adults P10,000 ( I eat imported foods, go native and half the cost).