MANILA, Philippines — Property buyers looking for residential and agricultural lots may have another opportunity this October as the Philippine Deposit Insurance Corporation (PDIC) prepares to put 75 properties in Luzon up for electronic public bidding.
The auction is scheduled for October 14 to 15, 2026, with online bids accepted beginning 9 a.m. on October 14 until 1 p.m. on October 15. The opening of bids is set for 2 p.m. on October 15 through the PDIC’s online Assets for Sale portal.
The latest offering includes properties in Cagayan, Isabela, Benguet, La Union, Pangasinan, Tarlac, Bulacan and Nueva Ecija, giving prospective homeowners, farmers, investors and other qualified buyers a range of assets to consider.
Agricultural lots start at ₱164,000
Among the properties are 16 vacant agricultural lots in Cagayan and Isabela, with some parcels reaching as large as 11 hectares.
Another 15 vacant agricultural lots are located in Benguet, La Union, Pangasinan and Tarlac. Minimum bid prices for the agricultural properties start at ₱164,000, potentially putting some of the offerings within reach of smaller investors and land buyers.
The auction also includes 21 vacant residential properties in Pangasinan, Cagayan, Isabela, Nueva Ecija and Tarlac. Their minimum bid prices range from ₱196,600 to ₱1.9 million.
The remaining assets consist of 16 residential properties with improvements, six mixed residential/agricultural properties and one agricultural property with improvements.
Buyers must register before bidding
The PDIC said the e-bidding is open to qualified buyers who complete the required registration through its online bidding platform.
Prospective bidders can access the property catalogue, individual property details, bidding procedures, documentary requirements and other instructions through the PDIC Assets for Sale portal. Buyers participating on behalf of another person or organization may also need to submit the appropriate authorization documents, including a Special Power of Attorney or Secretary’s Certificate, depending on the circumstances.
But potential buyers should not treat the minimum bid price as the only consideration.
PDIC properties are sold on an “as-is-where-is” basis, meaning bidders are expected to conduct their own due diligence regarding the property’s physical condition, ownership, title and other relevant circumstances before submitting an offer.
Agricultural buyers face additional requirements
Those bidding for agricultural properties will have additional documentary obligations.
Successful bidders must submit an Affidavit of Aggregate Landholdings and certification from the local Department of Agrarian Reform Provincial Agrarian Reform Officer within 15 days of the e-bidding.
The documents must establish, among other things, that the property is not covered by the Comprehensive Agrarian Reform Program and that no Emancipation Patent or Certificate of Land Ownership Award has been issued.
The affidavit must also confirm that the bidder’s total landholdings, including the property being acquired, do not exceed the applicable five-hectare legal limit.
Why PDIC is selling the properties
The auction is part of PDIC’s mandate as receiver and liquidator of closed banks.
The corporation disposes of assets from closed banks to generate recoveries that can be used to settle legitimate claims of creditors, including depositors with uninsured deposits.
The latest auction follows another PDIC property sale scheduled for September. In that earlier offering, the agency announced 70 Luzon properties, including a 240-square-meter commercial property in Naujan, Oriental Mindoro, with a minimum bid of ₱3.1 million. That September auction is separate from the newly reported 75-property October offering.
What interested buyers should do
Prospective bidders should check the PDIC’s official Assets for Sale portal for the complete list of properties, minimum bid prices, property descriptions, bidding conditions and documentary requirements before participating.
Because properties are sold on an “as-is-where-is” basis, prospective buyers should carefully verify the property’s condition, ownership and legal status rather than relying solely on the posted minimum bid.
The opportunity may look attractive on paper—but for bidders, the real challenge begins before the first online offer is submitted.
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