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Manila's condo market in 2025 presents unique opportunities with average prices ranging from PHP 155,000 to 217,000 per square meter across Metro Manila. The market shows significant variations between prime districts like Makati and BGC versus emerging areas, creating diverse investment and living options for buyers.
Current oversupply conditions have created a buyer's market with strong negotiating power, particularly for cash purchases and ready-for-occupancy units. While luxury segments face price corrections, emerging districts continue to show growth potential driven by infrastructure development and transit improvements.
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Manila condo prices in 2025 average PHP 155,000-217,000 per square meter, with studios starting at PHP 2-4M in emerging areas and reaching PHP 6-8M in prime districts like Makati and BGC.
The market favors buyers due to oversupply, creating opportunities for negotiation, while emerging districts offer better value and appreciation potential compared to saturated CBDs.
| District | Price per sqm (PHP) | Studio Price Range | 2BR Price Range |
|---|---|---|---|
| Makati (prime) | 200,000-364,000 | 6-8M | 15-25M |
| BGC / Taguig | 220,000-275,000 | 5-7M | 12-20M |
| Ortigas Center | 150,000-200,000 | 4-6M | 10-15M |
| Quezon City | 100,000-150,000 | 3-5M | 7-12M |
| Pasig | 120,000-170,000 | 4-6M | 8-15M |
| Manila City | 90,000-140,000 | 3-5M | 6-10M |
| ParaƱaque | 80,000-130,000 | 3-5M | 6-12M |
What is the current average price of a condo in Manila?
As of September 2025, the average condo price in Metro Manila ranges from PHP 155,000 to 217,000 per square meter, with significant variations depending on location and property quality.
Prime districts like Makati CBD and Bonifacio Global City command the highest prices at PHP 200,000 to 364,000 per square meter. These areas offer premium amenities, proximity to business centers, and established infrastructure that justify the premium pricing.
Mid-tier areas such as Ortigas Center and Pasig fall in the PHP 120,000 to 200,000 per square meter range, providing good value with decent connectivity and amenities. Emerging districts like Quezon City and Manila City proper offer more affordable options at PHP 90,000 to 150,000 per square meter.
Budget-friendly areas including ParaƱaque and Las PiƱas provide entry-level opportunities starting from PHP 70,000 to 130,000 per square meter. These locations typically require longer commutes but offer substantial savings for first-time buyers or investors seeking higher rental yields.
The Manila condo market currently favors buyers due to oversupply conditions, creating opportunities for negotiation and flexible payment terms.
How do condo prices vary depending on the neighborhood or district in Manila?
Manila's condo pricing shows dramatic variations across districts, with premium areas commanding prices up to five times higher than budget-friendly locations.
Makati CBD represents the most expensive district with prices reaching PHP 364,000 per square meter for luxury properties. This area attracts multinational corporations, high-income professionals, and foreign executives willing to pay premium rates for prime location and prestige.
Bonifacio Global City follows closely with prices between PHP 220,000 to 275,000 per square meter. BGC offers modern infrastructure, international schools, and a planned city environment that appeals to expatriates and affluent Filipino families.
Secondary business districts like Ortigas Center provide middle-ground options at PHP 150,000 to 200,000 per square meter. These areas offer good connectivity to multiple business centers while maintaining more reasonable pricing compared to prime locations.
Emerging districts such as Quezon City, Mandaluyong, and Alabang present growth opportunities with current prices between PHP 100,000 to 190,000 per square meter, supported by ongoing infrastructure development and improving transportation links.
What are the differences in condo prices based on property type, such as studio, one-bedroom, or two-bedroom units?
Studio units in Manila typically range from PHP 2 million to 8 million depending on location and quality, with prime Makati and BGC studios commanding PHP 4-8 million for 18-25 square meter units.
One-bedroom condos show wider price variations from PHP 3 million in emerging areas to PHP 12 million in premium districts. Makati and BGC one-bedroom units of 30-40 square meters typically cost PHP 7-12 million, while similar units in Quezon City or Pasig range from PHP 5-8 million.
Two-bedroom units represent the luxury segment with prices starting from PHP 6 million in budget areas and reaching PHP 25 million for premium properties. BGC and Makati two-bedroom condos of 50-70 square meters command PHP 15-25 million, reflecting their appeal to families and high-income professionals.
Larger units generally offer better value per square meter due to economies of scale in construction and higher appeal to affluent buyers. However, smaller units like studios provide better rental yields and easier resale due to broader market demand.
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How much does the average condo cost per square meter in different areas of Manila?
| Area | Price per sqm (PHP) | Market Positioning |
|---|---|---|
| Makati CBD | 200,000-364,000 | Ultra-premium, established business district |
| BGC / Taguig | 220,000-275,000 | Premium, modern planned city |
| Rockwell Center | 275,000-350,000 | Luxury, exclusive residential enclave |
| Ortigas Center | 150,000-200,000 | Secondary CBD, good connectivity |
| Pasig | 120,000-170,000 | Emerging, infrastructure development |
| Quezon City | 100,000-150,000 | Affordable, large residential market |
| Manila City | 90,000-140,000 | Historic center, urban renewal |
| Mandaluyong | 130,000-180,000 | Up-and-coming, transit-oriented |
| Alabang | 130,000-190,000 | Suburban premium, family-oriented |
| ParaƱaque | 80,000-130,000 | Budget-friendly, airport proximity |
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What is the total cost of buying a condo in Manila, including taxes, fees, and other charges?
The total cost of buying a condo in Manila extends 8-10% beyond the purchase price due to various taxes, fees, and closing costs that buyers must factor into their budget.
Documentary Stamp Tax represents the largest additional cost at 1.5% of the property value, while Transfer Tax adds another 0.5-0.75% depending on the location. Registration fees contribute 0.25-0.35% of the purchase price, and notarial fees typically range from PHP 10,000 to 50,000.
Ongoing costs include monthly association dues of PHP 80-150 per square meter, translating to PHP 2,800-5,250 monthly for a typical 35-square-meter unit. These dues cover building maintenance, security, amenities, and utilities for common areas.
For a PHP 7 million one-bedroom condo in Makati, buyers should budget approximately PHP 7.6-7.7 million total including all fees and costs. Sellers face a 6% Capital Gains Tax if reselling, making this an important consideration for investment properties.
Cash buyers often receive discounts of 5-10% from developers, effectively offsetting most closing costs and creating immediate equity in the property.
What are the financing and mortgage options available for buying a condo in Manila, and how do they affect the overall cost?
Bank financing remains the most popular option for Manila condo purchases, with major banks offering up to 25-year loan terms requiring 20-30% down payment and current interest rates between 5.75-7.94%.
Interest rates are expected to decrease to 4.75-5% by the end of 2025 as the Bangko Sentral ng Pilipinas continues monetary easing policies. This trend makes financing more attractive for buyers who can time their purchases appropriately.
In-house financing from developers provides easier qualification requirements but typically carries higher interest rates up to 18%. However, the current oversupply situation has prompted many developers to offer more competitive rates and flexible payment schemes to attract buyers.
Pag-IBIG Fund financing offers government-backed loans for qualified members with lower interest rates and up to 25-year terms. This option particularly benefits OFWs and long-term Filipino residents seeking affordable financing.
Rent-to-own and flexible payment plans have become increasingly common due to condo oversupply, with some developers offering very low down payments and extended payment terms over several years for pre-selling or ready-for-occupancy units.
What are the most expensive neighborhoods for condos, the up-and-coming areas, and the most budget-friendly places?
The most expensive condo neighborhoods in Manila command premium prices due to established infrastructure, business concentration, and prestige value.
Most expensive neighborhoods include:
- Makati CBD - PHP 200,000-364,000 per sqm, established financial district with premium amenities
- Rockwell Center - PHP 275,000-350,000 per sqm, exclusive luxury residential enclave
- Bonifacio Global City - PHP 220,000-275,000 per sqm, modern planned city with international appeal
- Ortigas Center - PHP 150,000-200,000 per sqm, secondary business district with good connectivity
- Alabang business district - PHP 150,000-190,000 per sqm, suburban premium location
Up-and-coming areas offering growth potential include:
- Quezon City - Infrastructure development and transit improvements driving appreciation
- Mandaluyong - Transit-oriented development with improving connectivity
- San Juan - Proximity to business districts with more affordable pricing
- Select Pasig areas - Infrastructure investment and accessibility improvements
- Manila City pockets - Urban renewal projects creating value opportunities
Budget-friendly areas providing entry-level opportunities include:
- Las PiƱas - PHP 70,000-120,000 per sqm, developing infrastructure
- ParaƱaque - PHP 80,000-130,000 per sqm, airport proximity advantage
- Outer Quezon City - PHP 90,000-120,000 per sqm, large residential market
- Non-CBD Pasig - PHP 100,000-140,000 per sqm, emerging development
- Manila City periphery - PHP 80,000-120,000 per sqm, urban renewal potential
What are example purchase prices of condos in Manila today, across different property types and locations?
Current Manila condo prices in September 2025 show clear patterns across different unit types and locations, providing buyers with diverse options based on budget and preferences.
| Unit Type & Location | Size (sqm) | Price Range (PHP) |
|---|---|---|
| Studio, Makati/BGC | 18-25 | 4-8 million |
| Studio, Ortigas | 20-28 | 3-6 million |
| Studio, Quezon City | 22-30 | 2-4 million |
| 1BR, BGC | 30-40 | 7-12 million |
| 1BR, Ortigas | 32-42 | 5-8 million |
| 1BR, Pasig | 35-45 | 4-7 million |
| 2BR, Makati | 50-70 | 15-25 million |
| 2BR, Mandaluyong | 55-75 | 8-15 million |
| 2BR, Las PiƱas | 60-80 | 6-12 million |
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If you want to live in the condo yourself, what are the smartest buying options today?
For owner-occupants in Manila's current market, the smartest strategy involves avoiding oversupplied CBD areas unless luxury amenities are essential, and instead focusing on emerging districts with strong transport connections.
Ready-for-occupancy units in secondary locations like Pasig, Mandaluyong, Alabang, and Quezon City offer the best value proposition. These areas provide good connectivity to business districts while maintaining more reasonable pricing and avoiding the oversupply issues plaguing prime CBDs.
Cash buyers hold significant negotiating power in the current market, often securing 5-10% discounts from developers desperate to move inventory. Pre-selling and newly finished units frequently come with substantial discounts and flexible payment terms.
Location selection should prioritize planned infrastructure developments, walkability, and proximity to MRT/LRT lines rather than traditional prestige factors. Areas benefiting from upcoming infrastructure projects offer better long-term value appreciation.
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If you want to rent the condo out, what are the best strategies for short-term rentals versus long-term rentals?
Long-term rental strategies in Manila focus on steady income generation with gross yields ranging from 4-6% in CBDs and up to 7% in select projects, providing lower risk and management requirements.
Target markets for long-term rentals include business professionals, expatriates, and students seeking proximity to offices, international schools, and universities. Small units like studios and one-bedroom condos perform best due to easier tenant turnover and lower vacancy periods.
Short-term rental strategies through platforms like Airbnb potentially generate higher gross yields but face building restrictions and intense local competition. Success requires targeting areas near business centers, entertainment districts, and transit hubs with hotel shortages.
Key locations for short-term rentals include properties near universities, hospitals, and business districts where temporary accommodation demand remains strong. Building policies must allow short-term rentals, as many condominium associations restrict such activities.
Rental management considerations include focusing on emerging districts with growing commercial activity, selecting buildings with good amenities and security, and ensuring proximity to public transportation to attract a broader tenant base.
If you want to buy with the goal of reselling later, what are the areas and property types that offer the best appreciation potential?
For resale-focused investment strategies, up-and-coming districts offer superior appreciation potential compared to saturated prime areas currently experiencing oversupply and price corrections.
Quezon City, Alabang, Mandaluyong, and San Juan represent the most promising areas for capital appreciation due to ongoing infrastructure development, improving transportation links, and lower current pricing that allows for growth.
Small units in premium projects provide the best combination of demand resilience and yield potential, as they attract a broader range of buyers and tenants while requiring lower absolute investment amounts.
Transit-adjacent developments near existing or planned MRT/LRT stations offer superior price resilience and appreciation potential as Manila's public transportation network expands and improves over the next decade.
Property selection should avoid mid-market oversupply areas and fringe speculative developments where recovery will take longest, instead focusing on established developers with strong reputations and quality construction standards that maintain value over time.
How have condo prices in Manila changed compared to one year ago, five years ago, and what are the forecasts for one year, five years, and ten years into the future, including how Manila compares with other major cities in the region?
Manila condo prices increased 6.5% overall from 2024 to 2025, though luxury segments experienced slight declines of 0.7% while mid-to-low segments remained flat to modestly higher due to oversupply conditions.
The five-year period from 2015-2024 saw dramatic price increases of 296-303% in mid-to-luxury segments, but this growth has plateaued post-pandemic as supply outpaced demand and economic conditions shifted.
Short-term forecasts for 2025-2026 suggest prime locations in Makati, BGC, and Ortigas will see gradual appreciation of 3-5% annually, while emerging districts may experience higher growth rates as infrastructure projects complete and accessibility improves.
Five-year outlook indicates the market will remain relatively flat near-term due to oversupply, but returns to growth as new supply decreases and infrastructure improvements enhance connectivity and livability across Metro Manila.
Ten-year projections remain positive due to continued urbanization, infrastructure development, and strong demand from expatriates and BPO sector growth, particularly favoring green buildings and smart technology integration.
Regional comparison shows Manila remains cheaper than Singapore and Hong Kong while maintaining similar pricing to Bangkok and Kuala Lumpur at PHP 120,000-180,000 per square meter, with rental yields in the 4-7% range proving more attractive than most mature markets.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Manila's condo market in September 2025 presents a unique buyer's market characterized by oversupply conditions that create significant negotiating opportunities for informed purchasers.
While prime CBD areas face continued price pressure, emerging districts with infrastructure development offer compelling value propositions for both owner-occupants and investors seeking long-term appreciation potential.
Sources
- Philippine Star - Condo prices NCR need correction
- BambooRoutes - Average price condo Philippines
- BambooRoutes - Average condo price Manila
- BambooRoutes - Manila average condo prices
- InsiderPH - Metro Manila condo glut hits 8.2 years
- BambooRoutes - Manila property
- Respicio Law - Seller taxes and fees in Philippine real estate sale
- Wise - Buy condo in the Philippines
- Global Property Guide - Best Asian countries for real estate investment
- BambooRoutes - Philippines 5-year real estate forecast