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As of September 2025, Manila's residential property market shows an average price of ₱150,000 per square meter for condominiums, with significant variations across different neighborhoods and property types.
Property prices in Manila range from ₱70,000 per square meter in budget-friendly areas like Las Piñas to over ₱270,000 per square meter in premium locations such as Bonifacio Global City and Makati's central business district. The market has experienced steady growth of 6.5% year-on-year, with condominiums leading the recovery while townhouses have seen a slight decline of 3.4%.
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Manila residential properties average ₱150,000/sqm for condos, ₱115,000/sqm for houses, and ₱110,000/sqm for townhouses as of September 2025.
Premium areas like Makati and BGC command ₱200,000-₱270,000/sqm while budget-friendly locations start at ₱70,000/sqm, with total purchase costs adding 2.5-4% in buyer fees.
| Property Type | Average Price/sqm | Total Cost Range |
|---|---|---|
| Condos (Premium Areas) | ₱200,000-₱270,000 | ₱4.4M-₱20M |
| Condos (Mid-tier Areas) | ₱150,000-₱200,000 | ₱3M-₱15M |
| Condos (Budget Areas) | ₱70,000-₱140,000 | ₱2.2M-₱4.5M |
| Houses (Suburban) | ₱115,000 | ₱9M-₱19.5M |
| Townhouses | ₱110,000 | ₱11M-₱16.5M |
| Commercial Land (Prime) | ₱300,000-₱900,000 | Varies by lot size |
What's the current average price per square meter in Manila?
As of September 2025, the average price per square meter in Manila stands at ₱150,000 for condominiums, making it the most common property type in the metropolitan area.
The Manila residential market shows clear price segmentation based on location and property type. Premium business districts like Makati and Bonifacio Global City command the highest prices at ₱200,000 to ₱270,000 per square meter. Mid-tier areas such as Ortigas Center and parts of Mandaluyong range from ₱150,000 to ₱200,000 per square meter.
Budget-friendly locations including Las Piñas, Parañaque, and outer areas of Quezon City offer more affordable entry points between ₱70,000 and ₱140,000 per square meter. These areas still provide good connectivity to business centers while offering significant cost savings for buyers.
The current pricing reflects a 6.5% year-on-year increase in Metro Manila residential property values, indicating steady market recovery and sustained demand across different price segments.
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How do prices differ between condos, houses, and townhouses?
Condominiums average ₱150,000 per square meter, houses average ₱115,000 per square meter, and townhouses average ₱110,000 per square meter across Metro Manila.
Condominiums command the highest per-square-meter prices due to their prime locations, shared amenities, and maintenance services. Most condos are situated in central business districts or high-demand residential areas with superior accessibility and security features.
Houses typically offer better value per square meter at ₱115,000 average, with most properties ranging from ₱3.5 million to ₱20 million depending on size and location. Single-detached houses have shown the strongest growth at 12.8% year-on-year, reflecting increased demand for private outdoor space.
Townhouses provide a middle ground at ₱110,000 per square meter, though this segment experienced a 3.4% decline in 2025. The average townhouse price reaches ₱37 million for high-end properties, offering more space than condos while maintaining community amenities.
Construction costs for new builds average ₱11,752 per square meter for bare structure only, which helps explain the price premiums for finished properties with full amenities and prime locations.
Which neighborhoods are the most expensive, which ones are upcoming, and which are the most budget-friendly?
| Category | Neighborhoods | Price Range (₱/sqm) |
|---|---|---|
| Most Expensive | Makati (Rockwell, San Lorenzo), BGC, Ortigas Center | ₱200,000-₱270,000 |
| Upcoming/High Upside | North Makati (NoMa), Mandaluyong, Eastern Pasig, Kapitolyo | ₱120,000-₱180,000 |
| Budget-Friendly | Las Piñas, Parañaque, Manila City, Outer Quezon City | ₱70,000-₱140,000 |
| Short-term Rental Hotspots | Taguig/BGC, Makati, Pasay, Mandaluyong | ₱150,000-₱250,000 |
| Emerging Commercial | Poblacion Makati, Eastern Pasig, North Quezon City | ₱100,000-₱160,000 |
How much does the price per square meter vary depending on the size of the property?
Smaller properties typically command higher prices per square meter due to premium locations and economies of scale in high-demand areas.
Studio units and one-bedroom condos often carry premium pricing at ₱200,000 to ₱250,000 per square meter in prime locations like Makati and BGC. These compact units of 20-30 square meters total ₱4.4 million to ₱7.5 million, reflecting their appeal to young professionals and investors.
Mid-size two-bedroom condos spanning 55-75 square meters maintain similar per-square-meter pricing in premium areas but offer better total value. These properties range from ₱11 million to ₱20 million, providing more living space without significant price premiums.
Larger houses and lots yield lower prices per square meter but higher total investment requirements. Properties of 80-150 square meters average ₱115,000 to ₱130,000 per square meter, with total costs ranging from ₱9 million to ₱19.5 million.
The size premium reflects location advantages, as smaller units typically occupy prime real estate with superior amenities, transportation access, and neighborhood prestige compared to larger properties in suburban areas.
What are the typical total purchase costs including fees and taxes?
Total purchase costs for buyers typically add 2.5% to 4% to the property price in direct fees and taxes when buying property in Manila.
| Cost Type | Rate | Example (₱10M Property) |
|---|---|---|
| Transfer Tax | 0.5-0.75% | ₱50,000-₱75,000 |
| Registration Fee | 0.25-1% | ₱25,000-₱100,000 |
| Documentary Stamp Tax | 1.5% | ₱150,000 |
| Notary/Miscellaneous | 1-2% | ₱100,000-₱200,000 |
| Total Buyer Costs | 2.5-4% | ₱325,000-₱525,000 |
Sellers face additional costs including 6% capital gains tax and 3-5% agent commission, bringing total transaction costs to 13-16% of property value. These seller costs are typically factored into listing prices but represent significant market friction.
Legal and professional fees for property lawyers, surveyors, and document processing add another ₱50,000 to ₱150,000 depending on property complexity and transaction size.
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What are the average monthly costs for ownership such as maintenance, property tax, and condo dues?
Monthly ownership costs for Manila properties typically range from ₱3,000 to ₱6,000 for condominiums and ₱1,500 to ₱3,000 for houses, depending on property size and location.
Condominium association dues range from ₱80 to ₱150 per square meter per month. A typical 30-square-meter studio pays ₱2,400 to ₱4,500 monthly, while a 60-square-meter two-bedroom unit costs ₱4,800 to ₱9,000 monthly in association fees.
Property taxes average 1-2% of assessed value annually, which typically runs lower than market value. Most condominiums pay ₱5,000 to ₱15,000 per year in property taxes, while houses range from ₱8,000 to ₱25,000 annually depending on size and location.
Maintenance and repair costs average ₱500 to ₱1,000 monthly for routine upkeep. Property insurance adds another ₱500 to ₱1,000 monthly as an optional but recommended expense for comprehensive coverage.
Utility costs including electricity, water, and internet average ₱3,000 to ₱6,000 monthly for typical residential properties, with air conditioning representing the largest variable expense during hot seasons.
What does a mortgage typically look like in Manila for different property values?
Mortgage rates in Manila range from 6.25% to 10.5% as of September 2025, with Pag-IBIG Fund offering the most competitive rates for qualified borrowers.
Down payment requirements typically range from 10% to 30% of purchase price. Banks generally require 20-30% down payment, while government programs like Pag-IBIG may accept 10-20% for qualified applicants including overseas Filipino workers.
For a ₱3 million property with 20% down payment (₱600,000), the remaining ₱2.4 million financed over 15 years at 6.5% results in monthly payments of ₱20,888. A ₱10 million property with similar terms would require monthly payments of approximately ₱69,627.
Pag-IBIG Fund provides the most favorable rates between 6.25% and 8.50% for qualified members, while commercial banks typically charge 7% to 10% depending on borrower profile and property type.
Loan terms extend up to 30 years for most lenders, though shorter terms of 15-20 years offer lower total interest costs. Income requirements typically mandate debt-to-income ratios below 30% for mortgage approval.
What are example purchase prices for popular property sizes and areas?
Studio condominiums in Makati and BGC range from ₱4.4 million to ₱7.5 million for 22-30 square meters, while similar units in Quezon City cost ₱2.2 million to ₱4.5 million.
Two-bedroom condominiums spanning 55-75 square meters in premium Makati and BGC locations command ₱11 million to ₱20 million. These same-sized units in Ortigas or Mandaluyong range from ₱8.25 million to ₱15 million.
Suburban houses of 80-150 square meters typically cost ₱9 million to ₱19.5 million in established residential communities. These properties offer private outdoor space and parking while maintaining reasonable commute times to business districts.
Prime townhouses spanning 100-150 square meters range from ₱11 million to ₱16.5 million in well-developed communities with shared amenities. High-end townhouse developments can reach ₱37 million for luxury finishes and premium locations.
Commercial land in prime business districts commands ₱300,000 to ₱900,000 per square meter, with Rockwell and central Makati representing the peak pricing for development opportunities.
What are the smartest property choices today if you want to live, rent out short-term, rent out long-term, or resell later at a higher price?
- For Living: Condos in BGC and Makati offer superior walkability, security, and amenities for urban professionals. Houses in Quezon City provide space and family-friendly environments with good school access.
- Short-term Rental: Studio and one-bedroom condos near tourist and business hubs (Taguig/BGC, Makati, Pasay) generate 4.5-7% annual yields from Airbnb and corporate housing demand.
- Long-term Rental: Larger units in Ortigas, Mandaluyong, and outer Quezon City provide stable local rental demand with moderate but consistent yields from local families and professionals.
- Future Resale: Emerging neighborhoods like Kapitolyo, North Makati (NoMa), Mandaluyong, and North Pasig offer below-average entry prices with planned infrastructure development driving future appreciation.
- Mixed Strategy: Two-bedroom condos in transitional areas like Mandaluyong provide flexibility for owner-occupancy, rental income, or resale as neighborhoods develop and appreciate.
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How have property prices in Manila changed compared to one year ago and compared to five years ago?
Manila residential property prices increased 6.5% year-over-year as of September 2025, showing strong market recovery across most property segments.
Single-detached houses led the growth with 12.8% annual appreciation, while condominiums grew 5.1% year-over-year. Townhouses experienced a 3.4% decline, reflecting oversupply in certain suburban developments and changing buyer preferences toward condos and houses.
The luxury segment showed mixed performance, with three-bedroom condos declining 0.7% as high-end buyers demonstrated more selectivity. However, entry-level and mid-market properties maintained steady demand and pricing power.
Compared to five years ago, the market has evolved significantly following the 2020-2022 pandemic boom and subsequent plateau. From 2023 onward, steady annual growth resumed at 3-7% rates, with prime CBD areas stabilizing while emerging districts showed stronger appreciation.
Fringe and upcoming districts outperformed established areas over the five-year period, benefiting from infrastructure development and relative affordability compared to traditional premium locations.
What are the forecasts for prices in one year, five years, and ten years?
Property prices in Manila are forecasted to grow 2.2% to 3% annually through 2026, representing steady but moderated appreciation compared to recent years.
The one-year outlook remains positive but conservative, with continued growth expected across most segments. Prime areas will likely maintain stability while secondary and emerging areas may outperform due to infrastructure investments and relative value positioning.
By 2030, prices are expected to return to pre-pandemic peak levels across Metro Manila, with stronger growth concentrated in infrastructure-linked areas and emerging submarkets. The five-year outlook anticipates cumulative appreciation of 15-20% for well-positioned properties.
The ten-year forecast through 2035 points to sustained moderate growth driven by ongoing urbanization and infrastructure investments. However, risks remain from potential oversupply in luxury condominium segments, particularly in saturated CBD areas.
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How do Manila property prices compare with other big cities in Southeast Asia or globally?
Manila condominiums average ₱90,000 to ₱270,000 per square meter (₱150,000 average), positioning the city competitively within Southeast Asia's major real estate markets.
| City | Average Price/sqm | Rental Yields |
|---|---|---|
| Manila | ₱90,000-₱270,000 | 4.5-7% |
| Bangkok | ₱120,000-₱180,000 | 4-6% |
| Kuala Lumpur (Central) | ₱180,000 | 3.5-5.5% |
| Kuala Lumpur (Outer) | ₱70,000-₱130,000 | 4-6% |
| Singapore/Hong Kong | ₱300,000+ | 2.5-4% |
Manila offers superior value compared to Singapore and Hong Kong, where prime properties exceed ₱300,000 per square meter. The city provides comparable or slightly lower pricing than Bangkok and Kuala Lumpur while maintaining competitive rental yields.
Rental yields in Manila range from 4.5% to 7% annually, outperforming most regional markets and making it attractive for income-focused investors. The combination of moderate entry prices and strong yields positions Manila favorably for diverse investment strategies.
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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 property market in September 2025 presents compelling opportunities across different segments, with condominiums averaging ₱150,000 per square meter and showing steady 6.5% annual growth.
The market offers excellent value compared to regional capitals like Singapore and Hong Kong, while providing competitive yields of 4.5-7% for rental investments, making it an attractive destination for both owner-occupiers and investors seeking Southeast Asian exposure.
Sources
- Housing Interactive - Manila City Market Analysis Q1 2025
- BambooRoutes - Manila Average Condo Prices
- BambooRoutes - Average Condo Price Manila
- InvestAsian - Philippines House Cost Analysis
- Minami Residences - House and Lot Prices Philippines
- BambooRoutes - Average Land Price per sqm Philippines
- InvestAsian - Manila Neighborhoods Guide
- Global Property Guide - Philippines Price History
- Philippine Statistics Authority - Construction Cost Statistics
- BambooRoutes - Manila Price Forecasts