Market Summary Overview
Bacolod City has emerged as one of the Philippines’ most dynamic secondary real estate markets, experiencing steady growth in its residential condominium sector over the past 12 months. The market demonstrates strong fundamentals, with condominium prices ranging from ₱193,000 to ₱273,000 per square meter, positioning Bacolod among the highest-priced markets in the Visayas and Mindanao regions. This premium pricing reflects the city’s transformation from a sugar-centric economy to a diversified hub encompassing business process outsourcing (BPO), tourism, and modern urban development.
The condominium stock reached 5,810 units as of H1 2024, with developers projecting an annual delivery of about 1,000 units from 2024 to 2026. This measured supply expansion, coupled with robust demand, has created favorable market conditions for both investors and end-users. Bacolod’s strategic position as Western Visayas’ emerging commercial center, combined with major infrastructure projects, continues to attract national property developers and international investors.
Western Visayas achieved 7.2% GDP growth in 2023, the second-fastest among Philippine regions, outpacing the national average of 5.6%. This growth was driven largely by the construction sector’s 15.8% expansion, providing a solid foundation for sustained real estate demand. The region also accounts for 9% of the 2.16 million overseas Filipino workers (OFWs) deployed in 2023, ensuring continued remittance flows that support property purchases and investments. 
Bacolod commands the highest rental yields in the region at ~9.36%, significantly above Cebu and Iloilo. Strong rental demand comes from BPO professionals, young families, and migrants, while supply remains controlled.
Price appreciation has averaged an estimated 14% annually from 2016–2023, the fastest growth in Visayas and Mindanao, though this figure should be taken as an industry estimate based on selected projects. Cebu shows 3–5% annual growth, while Iloilo remains slower but stable.
Vacancy rates remain low across the three markets, with Bacolod showing the most sustainable balance between supply and demand.
Demand Drivers
- BPO Expansion: Bacolod is a recognized Center of Excellence for IT-BPO. The sector employs tens of thousands of residents, making it one of the city’s largest private employers. Major players include Concentrix, Teleperformance, iQor, Transcom, Ubiquity, and InteLogix.
OFW Remittances: With Western Visayas contributing 9% of national OFW deployment, remittances are a strong driver of real estate acquisitions, especially for families relocating to city centers. - Infrastructure: The ₱188-billion Panay-Guimaras-Negros Link Bridge is a flagship project, with construction expected to start by 2026. The Panay-Guimaras section is targeted for 2028 completion. Properties within 10 km of connection points are projected to see 15–25% price increases, subject to construction timelines.
- Economic Growth: The construction sector’s double-digit growth highlights Bacolod’s diversified economy, reducing dependence on sugar. This broadens demand for residential projects.
- Education & Migration: Strong universities and growing professional opportunities attract students and young workers who prefer modern, centrally located condominiums.
Risks & Opportunities
- Regulatory Environment: Local housing initiatives aim to deliver affordable units, helping balance the market. Continued LGU support for business and infrastructure enhances investor confidence.
- Interest Rate Sensitivity: Rising interest rates may challenge affordability, though Bacolod’s high rental yields cushion investor risks.
- Competition: Other provincial markets compete for capital, but Bacolod stands out for its higher yields and controlled supply pipeline.
- Infrastructure Risk: The PGN Bridge is transformative but may face delays. Market projections should remain conservative until groundworks begin.
Investor Implications
- Pre-construction Buys: Preselling units offer 20–30% discounts, attractive for capital appreciation and future rental income.
- Diversification: Bacolod’s ~9% yields far exceed Metro Manila’s 4.5–6%, making it appealing for income-focused portfolios.
- Tourism & Short-term Rentals: While still nascent compared to Cebu, Bacolod’s growing tourism and business travel sector is creating opportunities for Airbnb and serviced units in select areas.
Bacolod is emerging as one of the Philippines’ most attractive secondary markets for real estate, with superior rental yields, sustainable supply, and strong economic fundamentals. While infrastructure timelines and data estimates require caution, the overall outlook for 2024–2025 remains robust.
References
- Bamboo Routes. (2025, January 14). 6 stats for the Negros Island property market in 2025. Bamboo Routes. https://bambooroutes.com/blogs/news/negros-island-real-estate-market
- Bamboo Routes. (2025, June 15). Are Negros Island property prices going up in 2025? Bamboo Routes. https://bambooroutes.com/blogs/news/negros-island-price-forecasts
- Bamboo Routes. (2025, August 25). What is the average property price in Negros Island?(2025). Bamboo Routes. https://bambooroutes.com/blogs/news/average-property-price-negros-island
- Bacolod City Properties. (2023, December 8). Price monitoring and comparisons of real properties in Bacolod City. Bacolod City Properties. https://bacolodcityproperties.com/price-monitoring/
- Business Inquirer. (2024, November 8). Bacolod rising as affluent property hub. Inquirer Business. https://business.inquirer.net/489089/bacolod-rising-as-affluent-property-hub
- Business Inquirer. (2024, December 6). PH real estate 2025: Poised for growth amid shifting dynamics. Inquirer Business. https://business.inquirer.net/494580/ph-real-estate-2025-poised-for-growth-amid-shifting-dynamics
- BPO Search. (2025, July 27). BPOs in Bacolod. BPO Search. https://bposearch.com/bacolod/
- Cebu Grand Realty. (2025, September 23). Cebu condos in 2025: Demand surges amid supply. Cebu Grand Realty. https://cebugrandrealty.com/cebu-condos-in-2025-demand-surges-amid-supply/
- Cushman & Wakefield Philippines. (2025, August 27). Philippine real estate market shows resilience and growth in Q2 2025. Cushman & Wakefield. https://www.cushmanwakefield.com/en/philippines/news/2025/08/philippine-real-estate-market-shows-resilience-and-growth-in-q2-2025
- Find Property Abroad. (2025, April 5). Why Bacolod is quietly leading in the Philippines’ provincial real estate surge. Find Property Abroad. https://www.findpropertyabroad.com/why-bacolod-is-quietly-lead
- Panay News. (n.d.). Senate approves CHED-NEGOcc prov’l office in Bacolod City. https://www.panaynews.net/senate-approves-ched-negocc-provl-office-in-bacolod-city/
- Gonzales, L. (2025, June 30). Where is Bacolod City located? Next On Your List. https://nextonyourlist.com/where-is-bacolod-city-located/
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