Baguio Real Estate Market Report 2026
Nov 14, 2026 · @RJ Armas
2026 at a Glance
Welcome to RE/MAX ARYA's yearly look at Baguio real estate. In 2026 interest rates turned against borrowers, yet Baguio house prices held steady, and buyers who were ready, especially those with cash, found real opportunities.
Rates did a U-turn. The BSP cut its policy rate to 4.25% in February. Starting in April it raised rates four times, and by October the rate stood at 5.50%.
House prices held flat. Houses we listed in 2026 asked about ₱82,000 per sqm of floor area, almost exactly the ₱83,000 for houses we listed in 2025.
Supply kept coming. We added 171 new listings this year. Q3 was the busiest quarter, with 57.
Every property type has a sweet spot. Brand-new houses at ₱25M and below, lots at about ₱4M–₱5M, and condos at around ₱7M (1 bedroom) to ₱10M (2 bedrooms) sold fastest. Commercial properties that rarely come to market also changed hands, mostly to cash buyers.
The peso hit record lows. At more than ₱64 to the US dollar in October, buyers earning abroad got their best exchange rate in years.
The Year in Review
The year started with cheap money and ended with the highest borrowing costs in nearly two years. Here is how each quarter played out in Baguio.
Q1 (January–March): a hopeful start. On February 19 the BSP cut its policy rate to 4.25%, and Panagbenga brought the usual crowds and short-term rental demand. By March the mood had changed: fuel prices jumped with the Middle East conflict, and inflation rose to 4.1%, above the BSP's target (Manila Bulletin). We added 49 new listings.
Q2 (April–June): rates turn. On April 23 the BSP raised rates to 4.50%, undoing the February cut and ending its easing cycle (Philstar). A second hike in June took the rate to 4.75% (AsianBondsOnline). Summer kept Baguio busy with visitors, and we added 42 new listings.
Q3 (July–September): slow outside, busy inside. The BSP hiked again in August, to 5.00%. The rainy season and Ghost Month pushed back viewings and paperwork, and many buyers delayed decisions. September inflation reached 7.2%. Even so, this was our busiest listing quarter of the year, with 57 new properties, including a new condo building in Suello Village.
Q4 (October onward): the jumbo hike and the balikbayan season. On October 22 the BSP surprised the market with a 50-basis-point hike to 5.50%, its fourth increase of the year (Philstar). On October 27 the peso closed at a record low of ₱64.17 to the dollar (Manila Bulletin). Sellers started cutting prices, and buyers who earn abroad came home for the holidays with more pesos to spend.
Baguio is also being revalued. In December 2025 the City Assessor presented a new schedule of land market values, with parts of Session Road at up to ₱300,000 per sqm. The City Council asked for an impact study before turning the new values into higher property taxes (Inquirer). If the values are adopted, owners should expect higher real property taxes in the years ahead.
By the Numbers
These are asking prices for the Baguio City properties currently for sale with RE/MAX ARYA, taken from our listings database as of November 14, 2026. "Typical" means the median: half of listings cost more and half cost less.
Segment (Baguio City) | Listings | Typical asking price | Typical price per sqm | Most listings fall between |
House & lot | 56 | ₱25M | ₱82,000 (floor area) | ₱17M – ₱37M |
Condominium | 38 | ₱12.3M | ₱178,000 (floor area) | ₱8.5M – ₱13.7M |
Residential lot (excl. Rainbow's End) | 26 | ₱11.9M | ₱27,000 (lot area) | ₱20,000 – ₱33,000 per sqm |
Residential lot, Rainbow's End | 14 | ₱28M | ₱15,000 (lot area) | 806 – 3,249 sqm lots |
Commercial lot | 6 | ₱97M | ₱115,000 (lot area) | ₱70,000 – ₱158,000 per sqm |
Apartment building | 6 | ₱22.5M | ₱55,000 (floor area) | ₱11.5M – ₱95M |
Just outside the city, lots cost far less. In Itogon (Monterrazas) and Tuba (Realeza Ridge), lots are listed at ₱10,500–16,000 per sqm, and a large lot in La Trinidad is listed at about ₱18,000 per sqm.
What's Actually Selling
Asking prices tell you what is on the market. Our 2025–2026 sales tell you what buyers will actually pay, and every property type has its own sweet spot.
Road access comes first. Many properties in Baguio have no proper road access. They may be reachable only by footpath or stairs, or through someone else's land. As much as possible, we list and sell only properties with road access, because that is what protects a buyer's value and makes a property easy to resell. We rarely handle properties without it, so every figure in this report is for properties with road access. A property without road access usually sells for much less and takes far longer, if it sells at all.
Property type | Sells fastest at | What we saw in our 2025–2026 sales |
House & lot | ₱25M and below | Brand-new homes in established subdivisions sold at ₱17M–₱25M. Even a new house can sit for months if it's priced above what buyers are paying. |
Residential lot | about ₱4M–₱5M and below, whatever the size | Buyers look at the total price more than the lot size. A lot within budget sells, while a bigger lot with a bigger price waits. |
Condo, 1 bedroom | about ₱7M | The highest price per sqm of any condo size. |
Condo, 2 bedrooms | about ₱10M | Steady demand from families and investors. |
Commercial & semi-commercial | Cash-ready buyers | Land sold at roughly ₱38,000–₱58,000 per sqm, for lots of 500–1,000 sqm. |
Commercial properties came to market. In 2025 and 2026, owners started selling commercial and semi-commercial properties that would normally never be for sale, as the economy slowed. We sold several of them. In almost every case the buyer was an investor who had kept cash ready, waiting for exactly this kind of opportunity.
Brand-new beats old. Once you add renovation, an older house can end up costing more per square meter than a brand-new one, and renovation costs are hard to predict. Old houses usually come with surprises: plumbing, wiring, roofing and water supply. A new house from a builder who offers a warranty takes most of that risk away.
One-bedroom condos make a strong investment. They command the highest price per square meter, which makes them the best investment play in the condo market, if you can buy one below market value.
2026 vs. 2025
Comparing the properties we listed this year with those we listed last year (June–December 2025, the first months of our current database), house prices held flat, while lots and condos moved mainly because of what came on the market.
Segment (Baguio City) | Listed in 2025 | Listed in 2026 | What changed |
House & lot (per sqm floor area) | ₱83,000 (21 listings) | ₱82,000 (38 listings) | Flat: sellers held their prices |
Condominium (per sqm floor area) | ₱194,000 (13 listings) | ₱171,000 (37 listings) | Lower, mostly because a new building's 3-bedroom units came in at about ₱155,000 per sqm |
Residential lot (per sqm) | ₱20,000 (10 listings) | ₱30,000 (25 listings) | Higher, mostly because more lots came from premium areas like Pinewoods |
Figures are medians of asking prices. When only a few dozen properties are listed in a year, one big project or neighborhood can move the median, so read the "What changed" column alongside the numbers.
Neighborhood of the Year: Suello Village
Suello Village is the neighborhood that stood out most in our inventory this year, because it offers something rare in Baguio: brand-new condo units, large family homes and small lots all within one established village.
The biggest news is a new residential building in the village. It added ten units to our books in September. The 88 sqm, 3-bedroom units are listed at ₱13.4M–₱13.7M, about ₱155,000 per sqm. That is roughly 13% below the typical Baguio condo, and for a larger, new unit. One unit was reserved within weeks of launch, and a 130 sqm unit is available at ₱19.4M.
Homes in the village are a different market. Two large houses are listed at ₱35M and ₱45M, with 300–550 sqm of floor area. Smaller houses and lots in the village have been selling steadily.
Who it suits: families who want new construction close to the city, and investors who want a 3-bedroom unit they can rent to families or groups without paying studio-level prices per square meter.
What This Means for You in 2027
If you're buying, you have room to negotiate, especially above ₱20M, where our inventory is deep and sellers are already cutting prices. If you're financing, get your bank pre-approval now. Rates rose in October and may rise again, so locking in sooner protects your monthly payment. If you can, have cash ready: the best deals this year went to buyers who could move right away. And when you buy a house, choose a brand-new one with a builder's warranty over an old one you'll need to renovate.
If you're selling, price for the market you're in. Homes priced in line with recent sales are getting offers, while overpriced listings sit, sometimes for years. A small, early price adjustment usually costs less than months without a buyer. Also have your title and tax declaration in order before you list. When paperwork lags, a ready buyer can walk away.
If you're an OFW or investor earning abroad, this may be the best exchange rate you've seen. At more than ₱63 to the dollar, your savings buy more Baguio property than they did a year ago. Lots just outside the city (₱10,500–16,000 per sqm) and new 3-bedroom condos are the two segments we'd look at first. If you're home for the holidays, December viewings let you see a property in person before you commit.
Lessons From Our 2026 Deals
The biggest lesson from our associates this year is that deals close when both the buyer and the seller are truly ready, whatever the weather or the season.
A three-year listing finally sold, right in the middle of Ghost Month and the rainy season. The seller was overseas during the reservation, the viewings kept being rescheduled because of the weather, and the inclusions had to be negotiated item by item. Since then we've made a signed inventory list standard for every sale that comes with furniture or fixtures.
Another deal went from first viewing to commitment after just two properties. The buyer wanted a home to live in, the seller was motivated, and bank financing started right away.
Sellers adjusted as the year went on. In October, sellers cut asking prices by about 2% to 4% to attract Q4 buyers, and motivated sellers went further.
Demand for large lots is strong. We're working with buyers looking for 500+ sqm residential lots and with clients who have budgets of ₱15M to ₱20M and above for family homes.
Outlook for 2027
We expect 2027 to start tight and loosen as the year goes on. Properties priced in each type's sweet spot should stay competitive all year, while buyers above ₱20M keep their room to negotiate.
The first half: still expensive to borrow. Economists think inflation may have peaked in October but won't return to the BSP's 2–4% target until about April 2027, and further rate hikes are still on the table (Philstar). That favors cash buyers and anyone earning in foreign currency. Panagbenga in February and the summer season will still bring strong short-term rental demand, so investors eyeing condos for Airbnb should be ready before then.
The second half: watch inflation. If inflation does come back within target, pressure for more rate hikes should ease, and buyers who sat out 2026 may come back. Sellers who priced realistically in 2026 will be best placed when that happens.
All year: the property tax question. If Baguio adopts its new land values, real property taxes will rise. Holding costs on idle land would go up, which could push more lot owners to sell.
Thinking of Buying or Selling?
Want to know what your property is worth in today's market, or what your budget can get you in Baguio? Our team will give you a free, no-pressure price check based on the same data behind this report, and you'll get next year's report when it comes out. Reach us at www.REMAXARYA.com or message RE/MAX ARYA on Facebook.
Where the Numbers Come From
This is RE/MAX ARYA's yearly market report, published every year-end. The price snapshot uses asking prices from our listings database as of November 14, 2026, covering for-sale properties that are active, under negotiation, reserved or awaiting signing. The 2026 vs. 2025 comparison uses properties added to the database in each year (June–December 2025 and January–November 2026). Sales insights come from our 2025–2026 closed deals and are shown only as price ranges and per-sqm figures. We never disclose individual transactions. Our figures cover properties with road access. We rarely list properties without it, so they are not reflected here. Areas are Baguio City unless noted otherwise. Asking prices are not appraisals, and what a property finally sells for depends on its condition, documents and negotiation.
Sources: RE/MAX ARYA listings database and weekly sales meeting notes (2026); Manila Bulletin, Apr. 23, 2026; Philstar, Apr. 24, 2026; AsianBondsOnline, BSP policy rates; Philstar, Oct. 22, 2026; Philstar, Nov. 2, 2026; Manila Bulletin, Nov. 3, 2026; Inquirer, Dec. 16, 2025.
Comments