Q: What is the average price of condos in Metro Manila?
A: The most famous adage in real estate, “location, location, location,” holds true in Metro Manila, as it is perhaps the single most important predictor of a condo’s price. For instance, one can expect Makati condos to be a lot pricier than those found in, say, Las Piñas or Parañaque.
But how expensive, you might ask?
Based on Lamudi Philippines 2015 White Paper, here’s what we found out.
1. Makati is Metro Manila’s most expensive condo market in the Philippines
The average price of for-sale condos in the Philippines’ financial and business capital stood at Php13.83 million, more expensive than anywhere else in Metro Manila. This is hardly surprising, as Makati is home to some of the priciest pieces of real estate in the Philippines, including the recently launched Park Central Towers of Ayala Land Premier.
2. Taguig condos Metro Manila’s second priciest
Home to Bonifacio Global City, Taguig’s condos rival Makati in terms of price. Average prices of condos here stood at Php12.09 million, according to Lamudi’s report. However, a condo buyer can also find affordable options in Taguig, particular in the condos along C5 Road and Barangay Ususan (e.g., DMCI Homes’ Acacia Estates).
3. San Juan is the third most expensive condo market in Metro Manila
Despite being well-known for bargain shopping and an ousted president, San Juan features some of the most expensive condos in Metro Manila. Prices of condo properties here average Php6.77 million, with most situated along Annapolis Street.
4. Pasay is the fourth priciest condo market in Metro Manila
The city of Pasay, home to Megaworld’s Newport City and the Mall of Asia Complex, features, the fourth most expensive condos in Metro Manila based on average price. Condos for sale in this city on average cost Php6.67 million.
5. Manila’s condos are the metro’s fifth most expensive
Despite being overtaken by other cities in terms of economic and financial prominence, the City of Manila is still home to some of the metro’s priciest pieces of real estate. Perhaps it is the city’s scarcity of developable land that pushes property prices upward. Condos in Manila, particularly in prime sections along Roxas Boulevard and in Chinatown, average Php5.79 million.
6. Mandaluyong, Pasig, and Quezon City rank sixth, seventh, and eighth, respectively
It is perhaps no coincidence that the cities that share Ortigas Center are home to the sixth, seventh, and eighth condo markets in Metro Manila. Condos in Mandaluyong average Php5.55 million, those in Pasig cost Php4.6 million, and those in Quezon City a close Php4.52 million. It should be noted, however, that these cities feature plenty of condo properties outside Ortigas Center: Boni and Pioneer area for Mandaluyong; Ortigas Avenue Extension, C5 Corridor, and Raymundo Avenue for Pasig; and Cubao, the long stretch of EDSA, Quezon Avenue for Quezon City.
7. Condos in the south are more affordable
If you are looking for more affordable condos in Metro Manila, then better head to Parañaque, Muntinlupa, and Las Piñas, where condos average Php3.9 million, Php3.64 million, Php3.1 million, respectively, but perhaps not for long. There are plenty of developments at the moment happening in the south, most notably in Alabang and in the Bay City area of Parañaque.
Main photo via Shutterstock