Iloilo Condo Buying Guide: Everything You Need to Know Before Investing

Your Questions Answered by a Trusted Iloilo Condo Specialist

I created this FAQ to give buyers and investors clear, reliable answers. Whether you’re exploring your first unit or planning your next investment, this page is here to guide you. Got more questions? Just reach out—I’m happy to help.

Ernest Ian JagorinSales Director at Megaworld Iloilo Business Park

✅ General Condo Buying FAQs in Iloilo

What are the best pre-selling condominiums in Iloilo City right now?

Currently, top pre-selling options include Firenze Residences and The Pinnacle. These are located in prime areas like Iloilo Business Park with flexible payment terms.

How much is the reservation fee for a Megaworld Iloilo condo?

The standard reservation fee is ₱25,000, deductible from the total contract price.

What are the financing options available? (In-house, bank, PAG-IBIG?)

Buyers can choose between in-house financing, bank financing, or spot cash. PAG-IBIG is not applicable to Megaworld units.

Can foreigners buy a condominium in Iloilo?

Yes. Foreigners can legally own condo units in Iloilo, Philippines.

Is it better to buy a condo in Iloilo now or wait?

Now is the best time to buy, especially during pre-selling, when prices are lower and payment terms are more flexible. Iloilo is on an upward growth trend, especially in business and tourism.

What is the average price of a 1-bedroom condo in Iloilo Business Park?

A 1-bedroom unit typically ranges from ₱7 million to ₱12 million, depending on the tower, size, and floor level.

Are condo prices in Iloilo increasing? What’s the trend?

Yes, prices in Iloilo Business Park have been steadily increasing, with an average appreciation of 6–10% annually over the past few years.

How much is the monthly amortization for a condo in Iloilo?

It depends on the total contract price and payment term length.

Payment terms changes every month but in general ₱7M condo, expect around ₱17,000–₱30,000/month during the equity period.

Can I reserve a unit even if I’m currently abroad?

Yes, many buyers reserve units online via email or chat and pay the reservation fee through bank transfer, online payment channels, or credit card.

How do I choose the best condo unit for investment?

Look for units with amenity views, high rental demand, proximity to commercial areas, and corner layouts. Consult a trusted Megaworld representative for guidance.

✅ Iloilo Business Park–Specific FAQs

Why is Megaworld Iloilo Business Park a good investment location?

It’s a prime investment location due to its “live-work-play-learn” township model, strong economic growth as a major business district, and a track record of property value appreciation.

What are the current projects available in Iloilo Business Park?

Active projects include Firenze Residences, The Pinnacle, Belmont Hotel Iloilo, and International Corporate Plaza (ICP).
Ready-for-Occupancy units (Move-in Ready) are also available.

What’s the difference between Firenze and The Pinnacle?

Firenze has a more Italian-inspired, boutique design with lower density per floor. The Pinnacle is a high-rise with larger unit selections and panoramic views.

See in-depth comparison here: FIRENZE vs PINNACLE

Is the International Corporate Plaza for residential use?

No. ICP is a purely office building, ideal for businesses, law firms, clinics, agencies, and startup offices.

What commercial or lifestyle establishments are near these condos?

You’re steps away from Festive Walk Mall, International Class Business Hotels, restaurants, groceries, parks, and the Iloilo Convention Center. You’re also just a few minutes away from schools and hospitals.

How close is Iloilo Business Park to the airport or seaport?

The airport is about 25–30 minutes away by car, and the seaport is 15–20 minutes away, depending on traffic.

✅ OFW Buyer–Friendly FAQs

I’m an OFW. Can I buy a unit even if I’m not in the Philippines?

Yes. OFWs can purchase units remotely. Everything can be done digitally—from viewing units to submitting documents.

What documents do I need to submit if I’m buying from abroad?

You’ll need a valid ID (preferably two) and a filled-out buyer’s info sheet. We’ll assist you in every step.

Can I pay the reservation fee from overseas? What’s the process?

Yes. You can pay via cash, check, bank transfer, credit card, online payment app, Paypal, or GCash (via a representative). We’ll guide you through secure payment channels.

Can I assign a family member to transact on my behalf?

Yes. A family member or friend can act as your representative with an authorization letter from the buyer.

Do you have sample computations I can review online?

Yes. We can send customized sample computations through email or WhatsApp or Viber, based on your preferred unit and payment scheme. Or you can just go here to ask for computations and other details: https://iloilocondominiums.com/contact/

✅ Short-Term Stay / Rental Investment FAQs

Can I use my Iloilo condo for Airbnb or short-term rentals?

Yes. Megaworld condos are Airbnb-friendly, and short-term rentals are allowed unless the condo corporation decides otherwise later on.

What is the expected rental income from condos in Iloilo Business Park?

A studio unit can earn around ₱25,000–₱45,000/month, while 1-bedroom units may fetch ₱30,000–₱60,000/month, depending on furnishings and location.

Are there property management services available?

Yes. We can connect you with rental property managers (company or individual) who can handle guest bookings, turnovers, and unit maintenance.

What are the condo dues and other monthly fees?

Condo dues are typically ₱120–₱150/sqm/month, depending on the building. These cover security, maintenance, and use of amenities.

Is parking included with the unit?

Parking is sold separately, but you may opt to buy a slot or rent from another owner. Some towers have limited parking availability.

✅ Reservation & Ownership FAQs

How long does the reservation last after payment?

Your reservation is valid for 30 days, giving you time to submit requirements and sign the Reservation Agreement.

When will I start paying my monthly amortization?

Amortization begins 30 days after reservation, unless you request a later start date (depending on the developer’s policy).

Can I transfer my reservation to another person or unit?

Yes, but it’s subject to developer approval and may involve minimal processing fees or contract adjustments when necessary.

Is there a penalty for missed monthly payments?

Yes. Late payments are subject to penalty charges (3% of amount delayed per month), and failure to pay consistently may result in cancellation of the unit.

When will the condo be turned over to me?

Turnover depends on the project’s timeline as declared by your consultant/specialist. This is usually expressed as an estimated date with a grace period. For newer pre-selling projects, expect 2–4 years from reservation. Exact turnover dates will be in the contract.

✅ Legal and Tax FAQs

What taxes and fees do I need to pay when buying a condo?

You’ll need to pay Documentary Stamp Tax, Transfer Tax, Registration Fees, and Notarial Fees upon turnover or full payment. In general, these should amount to approximately 4% to 5% of the Total Contract Price (TCP) of the unit.

Are there additional costs after turnover?

Yes. After turnover, you’ll need to pay real property tax (RPT) annually and monthly condo dues.

Can I sell my condo before it’s turned over?

Yes, you can. This is done via Rights Assignment or Deed of Assignment, depending on developer policies. Some fees and restrictions may apply.

What documents will I receive upon full payment?

You’ll get the Condominium Certificate of Title (CCT), Tax Declaration, and official receipts once all obligations are cleared.

Do condominiums expire after 50 years in the Philippines?

No. While Philippine law sets a projected lifespan of 50 years for condominium buildings, this is often misunderstood. It’s not an automatic expiration date for demolition. Instead, the 50-year mark is when unit owners may vote on whether to renovate, redevelop, or sell the property if the structure is no longer viable.

Many condominiums in the Philippines continue to be safe and functional well beyond 50 years, demonstrating that a building’s physical existence isn’t automatically terminated. See HERE