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Makati remains Metro Manila's premier business district, with condo prices reflecting its status as the Philippines' financial hub. As of September 2025, average condo prices in Makati range from ₱150,000 to ₱590,000 per square meter, depending on location, luxury level, and building amenities. The city's established infrastructure, proximity to major corporations, and lifestyle amenities continue to drive strong demand among both local professionals and international investors.
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Standard condos in Makati cost ₱200,000-₱250,000 per sqm, while luxury units reach ₱364,000-₱590,000 per sqm in prime locations like Ayala Avenue and Rockwell Center.
Total ownership costs including taxes, fees, and monthly expenses add 6-12% to purchase price plus ₱45,000-₱65,000 monthly for a typical one-bedroom unit.
| Unit Type | Size (sqm) | Price Range | Best For |
|---|---|---|---|
| Studio | 22-30 | ₱1.8M-₱7.6M | Young professionals, investors |
| 1-Bedroom | 30-60 | ₱3M-₱16M | Singles, couples |
| 2-Bedroom | 50-100 | ₱4.2M-₱90M+ | Small families, executives |
| 3-Bedroom | 100-200+ | ₱20M-₱329M+ | Families, luxury buyers |
| Penthouse | 200+ | ₱100M+ | Ultra-high net worth |
What's the current average price of condos in Makati?
As of September 2025, standard condos in Makati cost between ₱200,000 and ₱250,000 per square meter.
Luxury developments command significantly higher prices, starting at ₱364,000 per square meter and reaching up to ₱590,000 per square meter for ultra-luxury penthouses in prime locations like Ayala Avenue and Rockwell Center.
Budget-friendly options are available in older buildings or outer Makati areas, with studio units priced from ₱1.8 million to ₱2.9 million for 22-25 square meter units. Mid-market studios in good buildings and prime locations range from ₱3.5 million to ₱5 million, while luxury studios in the Central Business District or new towers cost between ₱5.7 million and ₱7.6 million.
The wide price range reflects Makati's diverse neighborhoods, from established luxury districts to emerging affordable areas that still offer excellent connectivity to the business district.
How do prices differ by condo size and floor area?
Condo prices in Makati vary significantly based on unit size, with larger units commanding premium prices per square meter due to their exclusivity and target market.
| Unit Type | Typical Size (sqm) | Price Range (₱) | Price per sqm |
|---|---|---|---|
| Studio | 22-30 | 1.8M-7.6M | ₱180,000-₱300,000 |
| 1-Bedroom | 30-60 | 3M-16M | ₱200,000-₱350,000 |
| 2-Bedroom | 50-100 | 4.2M-90M+ | ₱220,000-₱450,000 |
| 3-Bedroom | 100-200+ | 20M-329M+ | ₱250,000-₱500,000+ |
| Penthouse | 200-500+ | 100M-500M+ | ₱400,000-₱590,000+ |
Smaller units in fringe areas cost significantly less than spacious, high-rise units in the Central Business District, with location being the primary driver of price differences within each size category.
What are the typical total costs when you include fees, taxes, and other charges?
Total purchase costs in Makati extend 6% to 12% beyond the listed property price due to mandatory taxes and fees.
These additional costs include Value Added Tax (VAT), documentary stamp tax, notarial fees, registration fees, and transfer taxes. For a ₱5 million condo, expect to pay an additional ₱300,000 to ₱600,000 in transaction costs.
Monthly ownership costs for a typical one-bedroom unit in a good building range from ₱45,000 to ₱65,000. This includes mortgage payments, association dues (₱80-₱150 per square meter monthly), property tax (0.75% of assessed value annually), utilities, maintenance reserves, and insurance premiums.
Association dues vary significantly by building amenities and management quality, with luxury developments charging premium rates for concierge services, multiple pools, fitness centers, and 24/7 security.
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What's the difference in pricing between luxury, mid-range, and budget-friendly condos?
Makati's condo market clearly segments into three distinct pricing tiers based on location, amenities, and building quality.
Luxury condos cost ₱364,000 to ₱590,000+ per square meter in prime locations like Ayala Avenue, Rockwell Center, and The Estate Makati. These properties feature high-end finishes, premium amenities, and penthouses that can exceed ₱100 million per unit.
Mid-range properties are priced between ₱220,000 and ₱320,000 per square meter in desirable areas like Legazpi Village, Salcedo Village, and San Antonio Village. These offer good build quality and amenities without the ultra-luxury positioning.
Budget-friendly options range from ₱150,000 to ₱200,000 per square meter in areas like Chino Roces, Makati Avenue, and older buildings in San Antonio and Poblacion. While more affordable, these still provide access to Makati's business district and transport links.
The price gaps reflect not just location premiums but also significant differences in unit sizes, building amenities, and target demographics within Makati's diverse real estate landscape.
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Which neighborhoods in Makati are the most expensive, which are upcoming hotspots, and which are the most affordable?
Ayala Avenue and Rockwell Center represent Makati's most expensive neighborhoods, with condo prices reaching ₱250,000-₱590,000+ per square meter.
| Neighborhood | Price per sqm (₱) | Category | Key Features |
|---|---|---|---|
| Ayala Avenue CBD | 250,000-364,000 | Most Expensive | Prime business district, luxury shopping |
| Rockwell Center | 250,000-590,000+ | Most Expensive | Ultra-luxury, exclusive community |
| Legazpi/Salcedo Village | 220,000-320,000 | Expensive | Upscale residential, parks |
| San Antonio Village | 180,000-220,000 | Upcoming Hotspot | Emerging area, good value |
| Poblacion/NOMA | 180,000-200,000 | Upcoming Hotspot | Arts district, nightlife hub |
| Chino Roces | 150,000-200,000 | Most Affordable | New developments, good transport |
| Makati Avenue | 150,000-180,000 | Most Affordable | Transport access, value options |
San Antonio Village and Poblacion emerge as the most promising upcoming hotspots, offering significantly lower entry prices while benefiting from ongoing infrastructure improvements and lifestyle developments that attract young professionals and creative industries.
Can you give me example purchase prices of actual condos in different parts of Makati?
Real market transactions in September 2025 show the significant price variations across Makati's different neighborhoods and unit types.
In the luxury segment, a 22.95 square meter studio at Air Residences commands ₱7.6 million, reflecting the premium pricing for high-end, all-inclusive developments in prime locations.
Mid-market options include a 62 square meter one-bedroom unit at Two Central priced at ₱5.5 million (resale) and a 54.6 square meter two-bedroom at Greenbelt Hamilton for ₱7.5 million in Legazpi Village, demonstrating the price efficiency of established developments.
Ultra-luxury examples include a 151 square meter two-bedroom at The Estate Makati for ₱90.3 million and a 195 square meter three-bedroom in the same development for ₱111.6 million, showcasing the premium commanded by exclusive addresses.
These examples illustrate how location, building prestige, and unit specifications create dramatic price differences even within the same city district.
How do condo prices in Makati compare to other major cities with similar markets?
Makati condo prices exceed other Metro Manila districts but remain competitive compared to major Asian financial centers.
Within Metro Manila, Makati commands the highest prices, outpacing Bonifacio Global City, Ortigas, and Quezon City by 15-30% for comparable units due to its established business district status and superior infrastructure.
Compared to international markets, Makati's luxury segment prices remain significantly lower than Hong Kong, Singapore, or Tokyo prime districts, where comparable units cost 3-5 times more per square meter. However, Makati's pricing aligns closely with other major Asian expat and financial centers like Kuala Lumpur's KLCC or Bangkok's Sukhumvit corridor.
The price positioning makes Makati attractive to international investors seeking exposure to Southeast Asian real estate markets with lower entry costs than established global financial centers while maintaining similar lifestyle amenities and business infrastructure.
How have condo prices in Makati changed over the past 5 years, and over the past year?
Makati condo prices experienced steady growth from 2020-2024, with notable fluctuations during the COVID-19 period and subsequent recovery.
The five-year trend shows initial COVID-19 corrections in 2020-21, followed by a strong recovery in 2023-24 driven by returning demand from overseas Filipino workers and renewed corporate expansion in the business district. Luxury and new inventory segments maintained stronger price resilience throughout this period.
In 2025, the market has shown minor softening with annual growth expectations of 0-2%, reflecting global economic uncertainties and local supply increases from completed developments that began construction during the pandemic.
Year-over-year data shows mixed signals, with reports of a 9.4% average price drop in some market segments, counterbalanced by continued premium pricing and resilience in luxury and Central Business District markets where demand from high-income buyers remains strong.
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What's the price forecast for condos in Makati in 1 year, 5 years, and 10 years?
Makati's condo price forecasts reflect cautious optimism with stronger long-term prospects for prime locations.
One-year outlook suggests flat to slightly positive growth of 0-2% for premium and luxury segments, as market absorption continues for recent completions and economic conditions stabilize following global uncertainties.
Five-year projections indicate gradual appreciation of 10-25% total gains for top districts, assuming no major macroeconomic shocks and continued development of Makati's business district expansion plans and infrastructure improvements.
Ten-year forecasts show prime areas holding value and growing above inflation rates, particularly for professionally managed, high-amenity buildings in established locations like Ayala Avenue, Rockwell, and Legazpi Village that benefit from scarcity and continued corporate demand.
The forecasts assume continued Philippines economic growth, stable political conditions, and Makati's maintenance of its position as Metro Manila's primary financial and business center.
What are the smartest choices today if you're buying to live in a condo in Makati?
For owner-occupiers, Legazpi and Salcedo Villages offer the best combination of lifestyle amenities, walkability, and long-term value retention for professionals and families.
These established neighborhoods provide easy access to parks, shopping centers, restaurants, and the business district while maintaining a more residential character compared to the intense commercial atmosphere of Ayala Avenue.
Rockwell Center represents the premium choice for families and expatriates seeking luxury living with comprehensive amenities, though at significantly higher purchase and ownership costs.
San Antonio Village emerges as an excellent value proposition for buyers seeking good amenities and growing neighborhood appeal at more accessible price points, particularly for young professionals starting their careers in Makati.
Focus on buildings completed within the last 5-7 years that offer modern amenities, efficient layouts, and professional management to ensure comfortable living and easier resale when needed.
What are the best options if you want to rent out a condo, both short-term and long-term?
Rental investment strategies in Makati should align with specific tenant demographics and rental duration preferences.
For short-term rentals targeting tourists and business travelers, Poblacion and NOMA districts offer the best potential due to their vibrant nightlife, arts scene, and appeal to creative professionals and young expatriates seeking authentic Manila experiences.
Long-term rental investments perform best in Chino Roces and affordable towers along transport corridors, where BPO professionals and office workers seek convenient, reasonably-priced accommodations with easy commutes to business districts.
Studio and one-bedroom units in mid-range buildings typically achieve the highest rental yields due to strong demand from single professionals and couples working in Makati's numerous multinational corporations and business process outsourcing companies.
Consider buildings with good amenities like swimming pools, fitness centers, and reliable internet connectivity, as these features command rental premiums and reduce tenant turnover in Manila's competitive rental market.
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What are the most promising choices if you plan to buy a condo now and resell it later at a higher price?
Capital appreciation strategies should focus on emerging neighborhoods with strong development momentum and prime locations with scarcity value.
New and soon-to-complete projects in San Antonio Village, Poblacion, and Chino Roces offer the highest potential for price appreciation as these areas benefit from ongoing gentrification and infrastructure improvements that increase their appeal to higher-income buyers.
Prime Central Business District locations, particularly rare high-floor units in well-managed buildings, continue to hold the strongest long-term value due to land scarcity and continued corporate expansion in Makati's financial district.
Target properties in buildings with strong management reputations, comprehensive amenities, and architectural distinction that will maintain their competitive advantage as new supply enters the market over the coming years.
Focus on unit types and sizes that appeal to the broadest buyer base, particularly one and two-bedroom units that serve both end-users and investors, ensuring liquidity when resale time comes.
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.
Makati remains Metro Manila's premier condo market with prices reflecting its established business district status and comprehensive lifestyle amenities.
Smart buyers can find opportunities across all price segments, from emerging affordable neighborhoods to established luxury districts, depending on their investment goals and budget constraints.
Sources
- Housing Interactive - Market Analysis Makati City Q1 2025
- BambooRoutes - Condo Prices Makati
- Federal Reserve Economic Data - Philippines Housing Price Index
- Metrobank Wealth Insights - Developer Price Struggles
- DMCI Projects - Pricing Information
- Business World - Premium Real Estate Boom Makati
- Housing Interactive - Condo Sales Makati
- Makati City Government - Annual Budget 2025