What is the average price of condo in Philippines?

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A team specialized in real estate investing in APAC countries (Japan, Philippines, Indonesia, Australia, etc.).

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How much is the average total price of a condo in the Philippines including taxes, agent fees, and closing costs?

The total cost of buying a condo in the Philippines extends well beyond the base purchase price, with additional fees adding 5-7% to your final investment.

Base condo prices start at ₱2-4 million for budget-friendly units in emerging areas, while prime city locations like Makati and BGC often exceed ₱10 million. Studio units in Metro Manila typically cost ₱4.2-4.3 million, while 1-bedroom units range from ₱6.4-7 million.

The buyer's share of taxes and fees includes Documentary Stamp Tax at 1.5%, Registration Fee at 0.8%, Transfer Tax ranging from 0.5-0.8%, and Notarial Fee between 2-3%. Title Transfer Processing adds another ₱35,000-50,000 to your costs. While agent or broker fees of 5% are typically paid by the seller, this can be negotiable depending on market conditions.

For a ₱5 million condo, expect to pay an additional ₱250,000-350,000 in taxes and fees. This brings your total investment to approximately ₱5.25-5.35 million.

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How do condo prices vary by city or region—like Metro Manila, Cebu, or Davao?

Regional price variations in the Philippines condo market are dramatic, with Metro Manila commanding premium prices while emerging cities offer significant value opportunities.

Makati leads the market at ₱364,000 per square meter, making it the most expensive area for condo purchases. BGC/Taguig follows at ₱275,000 per square meter, while Parañaque averages ₱286,000 per square meter. These premium areas typically see studio units priced between ₱6-8 million and 2-bedroom units reaching ₱15-25 million.

Metro Manila's overall average sits between ₱155,000-217,000 per square meter, making studio units available for ₱4-5 million and 2-bedroom units for ₱10-15 million. Cebu City offers more affordable options at ₱160,000 per square meter, with studios ranging from ₱3-5 million and 2-bedroom units from ₱8-12 million.

Davao City presents the most affordable major city option at just ₱18,347 per square meter for pre-selling units. This translates to studio units starting around ₱2-3 million and 2-bedroom units between ₱5-8 million. Tourist destinations like Boracay command middle-tier pricing at ₱100,000 per square meter.

As we reach mid-2025, these regional disparities create opportunities for investors seeking either premium returns in established markets or growth potential in emerging areas.

What's the price per square meter for condos in different areas and building types?

Price per square meter varies significantly across the Philippines, reflecting local economic conditions, infrastructure development, and market maturity.

Metro Manila's luxury Central Business Districts command the highest rates, ranging from ₱203,000 to ₱364,000 per square meter in prime developments. These premium buildings typically feature high-end amenities, strategic locations, and superior construction quality. Average Metro Manila developments price between ₱155,000-217,000 per square meter, offering good value for those seeking city access without premium location costs.

Cebu maintains consistent pricing at approximately ₱160,000 per square meter across various building types, reflecting its status as a major regional hub. Davao's pre-selling market offers exceptional value at ₱18,347 per square meter, representing significant potential for early investors.

Provincial and emerging cities typically range from ₱75,000-100,000 per square meter, providing entry-level opportunities for budget-conscious buyers. These areas often feature newer developments with modern amenities at fraction of Metro Manila costs.

Building type significantly impacts pricing, with luxury high-rises commanding premiums of 20-30% over standard developments, while mid-rise buildings in the same area may offer 15-20% discounts compared to high-rise towers.

What are example prices for studio, 1-bedroom, and 2-bedroom condos in key locations?

Which areas have the highest condo prices and which are still affordable or emerging?

The Philippines condo market shows clear geographic price stratification, with established business districts commanding premium prices while emerging areas offer growth potential.

Highest-priced areas include Makati, BGC/Taguig, and Parañaque, where prime developments regularly exceed ₱300,000 per square meter. These areas benefit from established infrastructure, multinational corporate presence, and premium amenities that justify their premium pricing.

Affordable and emerging markets include Davao, Iloilo, Bacolod, Bulacan, Pampanga, Laguna, and Tacloban. These areas offer entry-level pricing while showing strong economic fundamentals. Davao particularly stands out with pre-selling prices at ₱18,347 per square meter, representing exceptional value for a major Philippine city.

Iloilo and Bacolod emerge as particularly attractive investment destinations, combining affordable entry prices with strong rental yields and robust economic growth. These cities benefit from government infrastructure investments and expanding business process outsourcing sectors.

Transit-oriented developments near new rail lines and infrastructure projects throughout Metro Manila's periphery represent emerging opportunities, offering potential appreciation as connectivity improves.

As of June 2025, smart investors are increasingly looking beyond traditional prime areas toward these emerging markets that offer better value propositions and growth potential.

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How much have condo prices changed in the last 1 year and in the last 5 years?

The Philippines condo market has experienced significant volatility over the past five years, with the pandemic creating a major disruption followed by gradual recovery.

Metro Manila's Central Business Districts saw a devastating 20% price decline in 2020 as the pandemic decimated demand and construction activity. Recovery began in 2022-2023 with modest gains of 3.9-4%, but momentum has stalled significantly. Throughout 2024, the market remained essentially flat with 0.1% nominal growth, translating to -2.7% in real terms after inflation.

As of early 2025, the luxury segment shows continued weakness with -0.7% year-over-year decline, indicating ongoing market adjustment. This contrasts sharply with pre-pandemic expectations and reflects oversupply concerns in premium segments.

Regional markets tell a different story, with Cebu and Davao showing 5-7% increases in pre-selling prices during 2024. These emerging markets demonstrate resilience and continued investor confidence outside Metro Manila's oversupplied segments.

The five-year trend reveals prices peaked in 2019, crashed in 2020, and have struggled to return to pre-pandemic levels in real terms. This creates opportunities for buyers but challenges for sellers who purchased at peak prices.

Current market conditions favor buyers, particularly in Metro Manila where developers face inventory pressures and may offer favorable terms.

What is the forecasted price trend for condos over the next 1, 5, and 10 years?

Philippines condo price forecasts show cautious near-term outlook with stronger long-term potential, particularly outside oversupplied Metro Manila markets.

For 2025, expect weak growth with potential for continued flat or slightly declining prices in Metro Manila. Oversupply in luxury segments will likely keep pressure on prices throughout the year. However, selective markets and properly positioned developments may outperform broader trends.

The next five years promise gradual recovery, especially in emerging cities and prime locations. Luxury developments and transit-oriented projects are positioned to outperform average market performance. Infrastructure investments and economic diversification should support steady appreciation, though growth will likely remain modest compared to pre-pandemic rates.

Ten-year outlook appears more optimistic, driven by continued urbanization, infrastructure development, and foreign investment attraction. Emerging cities outside Metro Manila present strongest growth potential as they benefit from decentralization trends and improved connectivity.

Key factors supporting long-term appreciation include population growth, overseas Filipino worker remittances, expanding business process outsourcing sector, and government infrastructure programs. However, continued oversupply management in Metro Manila remains crucial for market health.

It's something we develop in our Philippines property pack.

What are the differences in cost and return between buying a condo to live in, to rent out short-term, long-term, or to flip later?

Different condo investment strategies in the Philippines offer varying cost structures and return profiles, each suited to different investor goals and risk tolerances.

Live-in purchases focus on personal value rather than financial returns, with costs including mortgage payments, HOA fees, taxes, and maintenance. The primary benefit is lifestyle enhancement and long-term wealth building through property ownership.

Long-term rental investments typically generate gross yields of 4-6% in prime cities, though net yields drop significantly after accounting for property management, maintenance, vacancy periods, and taxes. At current rental rates of ₱1,000 per square meter monthly and purchase prices of ₱400,000 per square meter, payback periods extend to 33 years excluding appreciation.

Short-term rental strategies like Airbnb can achieve higher gross returns of 8-10% in tourist and expat-heavy areas. However, these come with increased management complexity, higher vacancy risks, regulatory uncertainties, and seasonal fluctuations that can significantly impact net returns.

Flipping strategies target 10-20% profits by purchasing pre-selling or undervalued units for resale upon completion or market improvement. This approach requires significant market timing skills and carries substantial risk in oversupplied markets where appreciation may be limited.

Each strategy requires different capital commitments, management involvement levels, and risk tolerance, making strategy selection crucial for investment success.

What are the ongoing monthly costs of owning a condo—HOA dues, maintenance, utilities, and taxes?

Monthly condo ownership costs in the Philippines can significantly impact your investment returns and should be carefully factored into purchase decisions.

Homeowners Association or condo dues represent the largest ongoing expense, typically ranging from ₱80-150 per square meter monthly. For a typical 30-square-meter studio, this translates to ₱2,400-4,500 monthly. These fees cover building maintenance, security, amenities, and common area upkeep.

Utility costs vary widely based on usage and unit size, typically ranging from ₱2,000-5,000 monthly for electricity, water, and internet services. Air conditioning usage during hot seasons can significantly increase electricity bills, particularly in smaller units with limited natural ventilation.

Real Property Tax amounts to 1-2% of assessed value annually, though assessed values are often below market prices. This typically translates to several thousand pesos annually for average condos. Property insurance, while optional, costs approximately ₱500-1,000 monthly for comprehensive coverage.

Maintenance and repair costs should be budgeted at ₱500-1,000 monthly to cover appliance servicing, minor repairs, and periodic updates. Premium buildings may require higher maintenance budgets due to specialized systems and finishes.

Total monthly carrying costs for a ₱5 million condo typically range from ₱6,000-12,000, significantly impacting rental yield calculations and ownership affordability.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in the Philippines versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What are the mortgage options, down payment requirements, and interest rates for buying a condo as a local or a foreigner?

Mortgage accessibility in the Philippines varies significantly between local and foreign buyers, with different requirements and terms affecting purchase feasibility.

Local buyers enjoy favorable mortgage terms with down payments typically requiring 10-20% of purchase price, while banks finance up to 80-90% of property value. Loan terms extend up to 20 years, making monthly payments manageable for qualified borrowers.

Foreign buyers face more restrictive but still accessible financing options. Banks typically offer up to 80% financing, provided buyers hold long-term visas or residency status and demonstrate stable income sources. Foreigners can legally own up to 40% of units in any condominium building, making condo ownership more accessible than land ownership.

As of June 2025, interest rates range from 5.5-7% per annum, typically fixed for 1-5 years before repricing. These rates remain competitive compared to regional standards, though borrowers should plan for potential rate increases during repricing periods.

Income requirements typically demand debt-to-income ratios below 30-40%, with banks requiring proof of stable employment or business income. Foreign buyers may need additional documentation including tax returns from their home countries and proof of legal visa status.

Pre-qualification processes help buyers understand their purchasing power and negotiate more effectively with developers, particularly important in a buyer's market where terms may be negotiable.

What are currently considered the smartest condo investments based on growth, location, and rental demand?

Smart condo investments in the Philippines as of mid-2025 focus on strategic locations with strong fundamentals rather than speculative appreciation plays.

Luxury condos in prime locations including Makati, BGC, Cebu IT Park, and Davao CBD offer the best combination of long-term appreciation potential and consistent rental demand. These areas benefit from established business districts, international corporations, and expatriate communities that provide stable tenant bases.

Transit-oriented developments near new rail lines and infrastructure projects represent emerging opportunities with significant upside potential. As connectivity improves, these locations should see increased demand and corresponding appreciation.

Emerging cities including Iloilo, Bacolod, Pampanga, and Bulacan offer compelling value propositions with lower entry costs, higher rental yields, and strong economic growth trajectories. These markets benefit from decentralization trends and expanding business process outsourcing operations.

Boutique and mixed-use projects targeting digital nomads, expatriates, and returning overseas Filipino workers show strong demand characteristics. These developments often feature modern amenities, flexible spaces, and international management standards that command premium rents.

The smartest current strategy involves avoiding oversupplied luxury segments in favor of well-located, reasonably priced units in markets with improving fundamentals and clear demand drivers.

It's something we develop in our Philippines property pack.

How do condo prices and value-for-money in the Philippines compare to similar cities in Southeast Asia?

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.

Sources

1. Pinoy Builders - Condo Investment Costs and Fees
2. Cebu BAI - Property Taxes and Fees
3. Philippine Star - NCR Condo Price Correction
4. InvestAsian - Philippines Property Costs
5. BambooRoutes - Philippines Real Estate Market
6. Global Property Guide - Philippines Price History
7. Lamudi - 2025 Market Outlook
8. BambooRoutes - Philippines Real Estate Forecasts
9. Gulf News - Manila Condo Price Correction
10. Torre Lorenzo - Luxury Condo Investments