MANILA, Philippines - President-apparent Benigno "Noynoy" Aquino III may just consider living in the one-bedroom Bahay Pangarap inside Malacañang grounds.

Aquino revealed this plan to reporters Monday.

"Arlegui [mansion], I never wanted to. Number one, it's too big. I don't want to be in Malacañang also. Malacañang, the Palace itself," said Aquino, the first bachelor to ever become Philippine president.

Asked if he is considering Bahay Pangarap, he said: "That's a possibility. I have to make sure of certain things [first]."

The president-apparent has earlier said that he prefers to live at the family residence on Times Street, Quezon City if his neighbors will allow him. However, the plan may not be best for Aquino due to security concerns.

Times Street is a narrow street in Quezon City, easily accessible via Quezon Avenue and West Avenue. There are no gates to secure the street from any vehicle passing by.

Bahay Pangarap (House of Dreams), on the other hand, sits right inside Malacañang grounds, and is located near the presidential golf course and across Pasig River.

According to a report by the Philippine Daily Inquirer, the structure, originally designed by renowned Architect Juan Arellano, was envisioned as a recreation hall by President Manuel Quezon in the '30s. Formal events and dinners were held in this Art Deco structure.

First Lady Eva Macapagal, mother of President Gloria Macapagal-Arroyo, had the house remodeled in the '60s and renamed it Bahay Pangarap.

During the time of President Ferdinand Marcos, National Artist for Architecture Francisco Mañosa added Filipino touches to the house, such as narra flooring and capiz windows.

Two years ago, Architect Conrad Onglao refurbished Bahay Pangarap, giving it a Filipino contemporary look. It now sports a resort ambience, and comes complete with a swimming pool. It served as a guest house for VIPs and alternative venue for official occasions.

Arroyo has in fact received dignitaries here, such as US Sen. Hillary Clinton, Brunei's Sultan Hassanal Bolkiah, former British Prime Minister Tony Blair, and Nobel Prize-winner Jose Manuel Ramos-Horta.

With only one bedroom, Bahay Pangarap could be a fitting bachelor's pad to the incoming president. Onglao gave the master's bedroom a luxurious feel, with silk-padded walls, headboard and beddings, and a large window looking out to a pocket garden with bamboo trees. -- With report from Jing Castañeda, ABS-CBN News.