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Apartment for Rent in Cebu

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The Central Province that Rivals the Capital

Apartment for Rent in Cebu 5k

The majority of Cebu Province is located on Cebu Island. The island is linked to the rest of the country via the Nautical Highway System (which includes highways, ferries, and bridges) and the Mactan-Cebu International Airport on Mactan Island. Geographically, it is a central province with the Negros Provinces to its west, Bohol and Leyte to its east, Siquijor to its south, and Masbate to its north. It is the main hub of the entire Visayas region and is second to Metro Manila in terms of economic and strategic importance. 

What makes the province unique compared to the capital are its natural wonders. While it takes at least two hours to get to beaches from the capital, it only takes minutes to an hour to get to the white sands and diving spots of the province. Surrounded by water with a coastline of approximately 513 kilometers, the province easily offers both a metropolis and a place of relaxation. A juxtaposition that the province easily balances. 

Aside from being a tourist destination, Cebu is also a popular business hub. With low operating costs and a supportive government, many companies are relocating, basing themselves, or setting up a branch in the province. The term “Ceboom” is now a term used to describe the province’s rapid economic development. It comes as no surprise then that the residential and commercial real estate sectors are the fastest growing sectors in the province. The number of developments in the province are increasing - houses, shopping malls, condominiums, hypermarkets, etc.

Apartment for Rent: Cebu and Its Heart and Soul

As more people are opting to live in Cebu, the price of residential real estate is increasing. This means that not everyone who wants to relocate to the province can easily afford to buy a residence. This is where apartments for rent in Cebu come in.

Arguably, the best place to find a Cebu apartment for rent is in Metro Cebu. Made up of seven cities and six municipalities, it is the center of the province’s activities. The following are the most popular cities that are part of Metro Cebu.

Fully Furnished Apartment for Rent in Cebu

Cebu City (pop. ~866,000) - the heart of the province. The name Cebu translates to “trade” and is a reflection of the city’s importance as a commercial center for hundreds of years. The city is still the center of commerce of the province and was ranked 8th in the world on the “Top 100 BPO Destinations Report” by Tholons, an advisory firm for Global Outsourcing and Research.

Lapu-Lapu City (pop. ~350,000) - if Cebu City is the heart of the province, Lapu-Lapu is its soul. Several famous landmarks are found here, including the Lapu-Lapu Shrine. The shrine is dedicated to the Philippines ’ first national hero, the warrior chief, Lapu-Lapu, who defeated the Spanish invader, Magellan. It is known as a more tranquil alternative to the relatively hectic lifestyle of the city center. 

Mandaue City (pop. ~330,000) - bordering Cebu City in the north, Mandaue is highly urbanized and more affordable than Cebu City. It is home to many historically and geographically interesting areas, such as the Monkey Caves and the National Shrine of Saint Joseph. It is a new tourist destination where the yearly Mandaue (or Mantawi) Fiesta is celebrated.

A typical studio-type and one-bedroom apartment for rent in Cebu that can accommodate solo renters and newlyweds have a monthly rental fee ranging from PhP 4,000 to PhP 20,000. Bigger units that have two to four bedrooms have a rental fee of PhP 25,000 to PhP 52,000.

 

2021 Average Price Data for an Apartment for Rent in Cebu

City/Municipality Median Price
(PHP)
Oslob ₱10,000
Carcar ₱5,000
Minglanilla ₱14,000
Mandaue ₱14,000
Alcoy ₱9,000
Cebu ₱13,000
Talisay ₱12,000
Lapu-Lapu ₱12,000
Cordova ₱18,000
San Remigio ₱30,000
Liloan ₱20,000
Consolacion ₱12,000
San Fernando ₱8,000
Lahug ₱25,000
Mactan ₱14,000
NOTE: Data is based on listings uploaded by real estate professionals in 2021.