Authored by the expert who managed and guided the team behind the Philippines Property Pack
Yes, the analysis of Manila's property market is included in our pack
Looking to understand the current housing prices in Manila? You're in the right place.
In this article, we break down everything you need to know about property prices in Metro Manila, and we keep this blog post constantly updated with the latest data.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Manila.
Insights
- Manila condo vacancy in the Bay Area exceeds 50%, giving buyers strong negotiating power and pushing effective prices 5% to 8% below listing prices in 2026.
- The typical Manila home buyer spends around ₱11 million ($187,000), with condominiums making up roughly 65% of all residential transactions in Metro Manila.
- Rockwell Center commands Manila's highest prices at ₱350,000 to ₱550,000 per sqm, while Sampaloc offers entry-level options starting around ₱90,000 per sqm.
- New construction in Manila carries an 8% to 12% premium over similar resale units, though developer promotions in oversupplied areas can eliminate this gap entirely.
- Manila property prices have risen 55% to 75% over the past decade in nominal terms, but only 15% to 30% when adjusted for inflation.
- A $100,000 budget in Manila typically limits buyers to small studios under 25 sqm in value areas like Sampaloc or the Bay Area.
- Buyer-side taxes and closing costs in Manila add 3% to 7% to the purchase price, with renovation potentially adding another 5% to 15%.
- BGC and Makati CBD offer similar pricing for 60 sqm condos at ₱17 million to ₱27 million, but BGC attracts buyers seeking newer developments.
- Manila's official housing price index shows low single-digit growth in late 2025, a slowdown from faster increases earlier that year.
- Landed homes in Manila suburbs like Alabang start around ₱18 million ($306,000), making them accessible mainly to higher-budget buyers.
What is the average housing price in Manila in 2026?
The median housing price is more useful than the average in Manila because it reflects what a typical buyer actually pays, without being skewed upward by a small number of ultra-luxury properties.
We are writing this as of the first half of 2026, using the latest data collected from authoritative sources like Bangko Sentral ng Pilipinas and Colliers Philippines, which we manually verified.
The median housing price in Manila in 2026 is approximately ₱11 million ($187,000 or €162,000), while the average housing price in the Manila market in 2026 sits higher at around ₱16 million ($272,000 or €236,000). This gap exists because luxury properties in prime areas like Rockwell and Makati CBD pull the average upward.
In Manila in 2026, roughly 80% of residential properties fall within a price range of ₱3.5 million to ₱35 million ($60,000 to $595,000 or €52,000 to €516,000).
A realistic entry-level price range in Manila in 2026 is ₱2 million to ₱4 million ($34,000 to $68,000 or €30,000 to €59,000), which typically gets you a small studio condo of 20 to 25 sqm in areas like Sampaloc or the Bay Area, often foreclosed or in an older building.
Luxury properties in Manila in 2026 typically range from ₱50 million to ₱200 million ($850,000 to $3.4 million or €740,000 to €3 million), which includes spacious 3-bedroom condos of 150 to 220 sqm in prime locations like Rockwell Center or Makati CBD with high-floor views and premium finishes.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Manila.
Are Manila property listing prices close to the actual sale price in 2026?
In Manila in 2026, closed sale prices are typically 5% to 8% below the original listing price.
This discount exists mainly because Metro Manila has high condo vacancy rates, with some areas like the Bay Area exceeding 50% vacancy, which gives buyers strong leverage to negotiate. The gap between listing and sale price is largest for ready-for-occupancy units in oversupplied areas, where developers offer promotions and flexible payment terms that function as hidden price cuts.
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What is the price per sq m or per sq ft for properties in Manila in 2026?
As of early 2026, the median housing price per sqm in Manila is approximately ₱190,000 ($3,230 or €2,800), and the median price per sqft is around ₱17,650 ($300 or €260). The average price per sqm in Manila is higher at ₱217,000 ($3,690 or €3,200), which translates to roughly ₱20,160 per sqft ($343 or €297).
Prime CBD luxury condos in Makati and Rockwell have the highest price per sqm in Manila in 2026 because of their scarcity, walkability, and prestigious addresses, while oversupplied areas like the Bay Area have the lowest prices due to high vacancy and intense competition among sellers.
In Manila in 2026, the highest prices per sqm are found in Rockwell Center (₱350,000 to ₱550,000 per sqm) and Makati CBD (₱300,000 to ₱450,000 per sqm). The lowest prices per sqm are in Sampaloc and Sta. Mesa (₱90,000 to ₱150,000 per sqm) and parts of the Bay Area (₱120,000 to ₱190,000 per sqm).
How have property prices evolved in Manila?
Compared to one year ago, Manila property prices in 2026 are roughly 2% to 4% higher in headline terms, though effective prices feel flatter because of widespread discounts and promotions. This modest growth reflects high vacancy rates and unsold ready-for-occupancy stock that limited sellers' pricing power.
Looking back two years to early 2024, Manila property prices have increased moderately, with the official BSP index showing steady but unspectacular growth throughout this period. The market saw faster price increases in early 2025 before cooling down by year-end as supply continued to outpace absorption in several condo submarkets.
By the way, we've written a blog article detailing the latest updates on property price variations in Manila.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Manila.
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 types of properties are available in Manila and how do prices vary in 2026?
In Manila in 2026, condominiums dominate the market at roughly 65% of available properties, followed by townhouses at 15%, single-detached homes at 10%, duplexes at 3%, luxury penthouses at 2%, and other types at 5%, reflecting Metro Manila's dense urban character where vertical living is the norm.
Average prices by property type in Manila as of the first half of 2026 vary significantly. Studio condos (20 to 30 sqm) range from ₱3 million to ₱6 million ($51,000 to $102,000). One-bedroom condos (35 to 50 sqm) cost ₱7 million to ₱14 million ($119,000 to $238,000). Two-bedroom condos (60 to 90 sqm) range from ₱14 million to ₱30 million ($238,000 to $510,000). Townhouses (90 to 160 sqm) typically cost ₱10 million to ₱25 million ($170,000 to $425,000). Detached houses (150 to 300 sqm) range from ₱18 million to ₱60 million ($306,000 to $1.02 million). Luxury prime condos (150 to 250 sqm) command ₱50 million to ₱200 million ($850,000 to $3.4 million).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Manila?
- How much should you pay for an apartment in Manila?
- How much should you pay for a condo in Manila?
- How much should you pay for a townhouse in Manila?
- How much should you pay for a studio in Manila?
How do property prices compare between existing and new homes in Manila in 2026?
In Manila in 2026, newly built or just-turned-over properties typically cost 8% to 12% more than comparable existing or resale units in the same area.
This premium reflects newer amenities, modern layouts, and updated building systems that buyers value, though in high-vacancy areas like the Bay Area, aggressive developer promotions can erase this gap or even make new units cheaper after discounts.
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How do property prices vary by neighborhood in Manila in 2026?
Makati CBD (Legazpi and Salcedo villages) offers primarily 1 to 2-bedroom condos in established towers, with prices for a typical 60 sqm unit ranging from ₱18 million to ₱27 million ($306,000 to $459,000). This premium pricing reflects unmatched walkability to offices, embassies, and mature retail and dining amenities.
BGC in Taguig features newer condo towers popular with expats and young professionals, where a 60 sqm unit typically costs ₱17 million to ₱27 million ($286,000 to $459,000). Buyers pay for the modern planned-city environment, international schools, and contemporary lifestyle offerings.
Rockwell Center in Makati commands Manila's highest residential prices, with a 60 sqm equivalent costing ₱21 million to ₱33 million ($357,000 to $561,000). This reflects the neighborhood's strong brand reputation, limited supply, and consistent demand from affluent buyers seeking exclusivity.
You will find a much more detailed analysis by areas in our property pack about Manila. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Profile | Avg Price Range (₱ and $) | Avg per sqm (₱ and $) | Avg per sqft (₱ and $) |
|---|---|---|---|---|
| Makati CBD | Commute / Expat | ₱18M to ₱27M ($306k to $459k) | ₱300k to ₱450k ($5,100 to $7,650) | ₱27,900 to ₱41,800 ($474 to $710) |
| Rockwell Center | Luxury / Expat | ₱21M to ₱33M ($357k to $561k) | ₱350k to ₱550k ($5,950 to $9,350) | ₱32,500 to ₱51,100 ($553 to $868) |
| BGC (Taguig) | Expat / Lifestyle | ₱17M to ₱27M ($286k to $459k) | ₱280k to ₱450k ($4,760 to $7,650) | ₱26,000 to ₱41,800 ($442 to $710) |
| Ortigas Center | Commute / Mixed | ₱11M to ₱16M ($184k to $265k) | ₱180k to ₱260k ($3,060 to $4,420) | ₱16,700 to ₱24,200 ($284 to $411) |
| Greenhills | Family / Shopping | ₱11M to ₱17M ($184k to $286k) | ₱180k to ₱280k ($3,060 to $4,760) | ₱16,700 to ₱26,000 ($284 to $442) |
| Eastwood/Libis | Commute / Tech | ₱10M to ₱14M ($163k to $245k) | ₱160k to ₱240k ($2,720 to $4,080) | ₱14,900 to ₱22,300 ($252 to $379) |
| New Manila | Family / Low-rise | ₱9M to ₱14M ($153k to $234k) | ₱150k to ₱230k ($2,550 to $3,910) | ₱14,000 to ₱21,400 ($238 to $364) |
| Cubao/Araneta City | Transit / Value | ₱8M to ₱13M ($143k to $214k) | ₱140k to ₱210k ($2,380 to $3,570) | ₱13,000 to ₱19,500 ($221 to $331) |
| Bay Area | Value / New Supply | ₱7M to ₱11M ($122k to $194k) | ₱120k to ₱190k ($2,040 to $3,230) | ₱11,100 to ₱17,700 ($189 to $300) |
| Alabang | Family / Suburban | ₱8M to ₱13M ($143k to $224k) | ₱140k to ₱220k ($2,380 to $3,740) | ₱13,000 to ₱20,400 ($221 to $347) |
| Ermita/Malate | Heritage / Expat | ₱7M to ₱13M ($122k to $224k) | ₱120k to ₱220k ($2,040 to $3,740) | ₱11,100 to ₱20,400 ($189 to $347) |
| Sampaloc/Sta. Mesa | Value / Student | ₱5M to ₱9M ($92k to $153k) | ₱90k to ₱150k ($1,530 to $2,550) | ₱8,400 to ₱14,000 ($142 to $238) |
How much more do you pay for properties in Manila when you include renovation work, taxes, and fees?
When buying property in Manila in 2026, expect to pay an additional 8% to 22% on top of the purchase price, with 3% to 7% going to taxes and closing costs and 5% to 15% for renovation if needed.
For a property around $200,000 (₱11.8 million) in Manila, buyer-side taxes and fees typically add ₱590,000 to ₱825,000 ($10,000 to $14,000). If you need light renovation, that adds another ₱590,000 to ₱1.2 million ($10,000 to $20,000), bringing your total to roughly ₱13 million to ₱13.8 million ($221,000 to $234,000).
For a $500,000 property (₱29.4 million) in Manila, taxes and fees typically run ₱1.5 million to ₱2.1 million ($25,000 to $35,000). A moderate renovation could add ₱2.1 million to ₱4.4 million ($35,000 to $75,000), pushing your all-in cost to approximately ₱33 million to ₱36 million ($560,000 to $610,000).
For a $1,000,000 property (₱58.9 million) in Manila, expect taxes and fees of ₱3 million to ₱4.1 million ($50,000 to $70,000). Renovation on a larger property could range from ₱4.4 million to ₱8.8 million ($75,000 to $150,000), making your total investment around ₱66 million to ₱72 million ($1.12 million to $1.22 million).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Manila.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Manila
| Expense | Category | Estimated Cost Range (₱ and $) |
|---|---|---|
| Documentary Stamp Tax | Taxes | Around 1% to 2% of the property value (₱10,000 to ₱20,000 per million pesos, or $170 to $340 per million pesos). This is a national tax applied to the transfer documents when ownership changes hands. |
| Transfer Tax | Fees | Approximately 0.5% to 0.75% of the property value. This local government fee varies slightly between cities within Metro Manila. Paid to the city or municipality where the property is located. |
| Registration Fee | Fees | Around 0.25% to 0.5% of the property value. This covers the cost of registering the new title with the Registry of Deeds. The exact amount follows a sliding scale based on property value. |
| Notarial Fee | Fees | Typically 0.1% to 0.3% of the property value, or a flat fee ranging from ₱10,000 to ₱50,000 ($170 to $850). Covers notarization of the deed of sale and other legal documents. |
| Broker Commission | Fees | Usually 0% to 3% if borne by the buyer (₱0 to ₱30,000 per million pesos). In Manila, sellers typically pay the broker fee, but this can be negotiated. Confirm who pays before signing. |
| Light Renovation | Renovation | Around 5% to 8% of purchase price (₱50,000 to ₱80,000 per million pesos, or $850 to $1,360 per million pesos). Covers repainting, minor repairs, and basic updates to make the unit move-in ready. |
| Full Renovation | Renovation | Around 10% to 15% of purchase price (₱100,000 to ₱150,000 per million pesos, or $1,700 to $2,550 per million pesos). Includes kitchen and bathroom upgrades, flooring replacement, and significant improvements to older units. |
We made this infographic to show you how property prices in the Philippines compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Manila in 2026 with different budgets?
With $100,000 (around ₱5.9 million) in Manila in 2026, your options are limited to small studios under 25 sqm in value areas: a 23 sqm studio in Sampaloc or Sta. Mesa, a 20 to 25 sqm unit in Bay Area value towers (often foreclosed or older), or a small 1BR of 30 to 35 sqm in Cubao if you find a good deal.
With $200,000 (around ₱11.8 million) in Manila in 2026, you can afford a 40 sqm 1-bedroom condo in Ortigas Center (existing), a 35 to 45 sqm 1BR in Eastwood or Libis (existing), or an older 30 to 40 sqm 1BR on the Makati fringe near Guadalupe (existing).
With $300,000 (around ₱17.7 million) in Manila in 2026, options include a 60 to 70 sqm 2-bedroom condo in Ortigas Center (existing), a 50 to 65 sqm 1BR with den or small 2BR in BGC edge locations (existing), or a 90 to 110 sqm townhouse in outer Quezon City (existing).
With $500,000 (around ₱29.4 million) in Manila in 2026, you can purchase a 70 to 90 sqm 2-bedroom condo in Makati CBD's Legazpi or Salcedo area (existing), a 70 to 85 sqm 2BR in prime BGC (existing), or a 120 to 160 sqm townhouse in New Manila, Quezon City (existing).
With $1,000,000 (around ₱58.9 million) in Manila in 2026, your options expand to a large 130 to 180 sqm 3-bedroom condo in Makati CBD (existing or upgraded), a 120 to 170 sqm 3BR in Rockwell Center (existing), or a 200 to 300 sqm landed home in Alabang (existing), often with budget remaining for renovation.
With $2,000,000 (around ₱117.7 million) in Manila in 2026, there is a market but it is limited and specific to certain towers and neighborhoods: a 180 to 250 sqm luxury 3BR or penthouse in Rockwell Center (new or prime), a trophy 180 to 240 sqm 3BR in newer Makati CBD towers, or a high-end landed home in prime school districts in QC or Makati fringe (often fully renovated).
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Manila.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Manila, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bangko Sentral ng Pilipinas (BSP) RPPI | The Philippine central bank publishes this official property price index based on actual bank housing-loan transactions. | We used the RPPI to describe recent price trends in Metro Manila and to anchor the year-on-year comparison with official index-based changes. |
| BSP RREPI Historical Series | This is the predecessor BSP housing price index that provides longer-term historical context before the newer RPPI format. | We used this series to build the 10-year price perspective. We treated it as a big-picture trend line rather than a precise peso price tag. |
| Colliers Philippines Q3 2025 Report | Colliers is a global established real estate consultancy providing formal research with clear market metrics and segment definitions. | We used their data to explain negotiation power from vacancy and oversupply, and to frame typical price bands for mass and mid-income condos. |
| BSP Reference Exchange Rate Bulletin | This is the central bank's official daily reference bulletin providing PHP equivalents for major currencies. | We used it to convert all Philippine peso amounts to US dollars and euros consistently throughout the article. |
| PhilStar citing KMC Savills | A major national news outlet explicitly attributing specific price-per-sqm figures to KMC Savills, an established real estate advisory. | We used these figures to anchor ballpark condo price levels since official BSP indices do not publish peso-per-sqm listing levels. |
| Lamudi Property Portal | A large, widely-used property portal where prices are tied to real listings rather than anonymous survey entries. | We used it to verify entry-level price reality and the existence of a low-price tail in the market. We did not treat it as an official average price source. |
| Bureau of Internal Revenue (BIR) | The national tax authority publishing the official rules that buyers and sellers must actually follow. | We used BIR guidelines to ground the taxes and fees section with statutory rates. We then added practical estimates for non-tax items like renovation. |
| Philippine Statistics Authority | The government agency responsible for official national statistics including inflation and economic indicators. | We referenced inflation data to calculate real (inflation-adjusted) price changes over the 10-year period. |
| GlobeNewswire | A widely-used newswire service distributing official company announcements and market research releases. | We cross-referenced market research findings and developer announcements to verify market trends mentioned in other sources. |
| Reuters | A globally respected news agency known for accurate financial and economic reporting. | We consulted Reuters coverage of Philippine economic conditions that affect housing demand and pricing. |
| Bloomberg | A leading financial news and data provider with extensive coverage of global and regional real estate markets. | We used Bloomberg reporting to verify macroeconomic factors influencing the Manila property market. |
| JLL Philippines | A major global real estate services firm providing professional market research and analysis. | We cross-referenced JLL data with Colliers findings to ensure our neighborhood and submarket assessments were balanced. |
| CBRE Philippines | One of the world's largest commercial real estate services firms with strong local market presence. | We consulted CBRE reports to verify vacancy rates and supply pipeline data for Metro Manila residential properties. |
| Securities and Exchange Commission Philippines | The government agency overseeing corporate filings and disclosures from publicly listed companies. | We reviewed SEC filings from major Philippine property developers to verify pricing strategies and sales performance. |
| PropertyAsia | A regional property portal with listings and market insights across Southeast Asian markets. | We used it to cross-check listing prices and verify market trends across different Manila neighborhoods. |
| BusinessMirror | A respected Philippine business newspaper covering local real estate and economic news. | We consulted their reporting on developer activities and market conditions to provide context for price movements. |
| Philippine Daily Inquirer | One of the Philippines' largest and most established daily newspapers with comprehensive business coverage. | We referenced their real estate reporting to verify market sentiment and buyer behavior patterns in Metro Manila. |
| Manila Bulletin | The Philippines' oldest national newspaper with extensive coverage of business and real estate. | We used their property section to cross-check neighborhood profiles and development activity across Metro Manila. |
| National Economic and Development Authority | The Philippines' premier socioeconomic planning body providing official development plans and economic data. | We consulted NEDA data on infrastructure projects and urban development plans affecting property values in different areas. |
| Housing and Land Use Regulatory Board | The government agency regulating the Philippine real estate industry and housing development. | We referenced HLURB guidelines to understand regulatory factors affecting property transactions and developer requirements. |
| Board of Investments Philippines | The government agency promoting investments with data on real estate and construction sector activity. | We consulted BOI data to understand investment trends and foreign buyer activity in the Manila property market. |
| Department of Trade and Industry | The Philippine government department overseeing trade and consumer protection regulations. | We referenced DTI guidelines on consumer rights and fair trade practices relevant to property transactions. |
| World Bank Philippines | A major international development institution providing authoritative economic analysis and data. | We used World Bank assessments of Philippine economic conditions and housing market fundamentals for broader context. |
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