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
Manila's condominium market offers diverse opportunities for both investors and residents, with prices varying significantly across different districts and unit sizes.
As of June 2025, condo prices in Manila range from ₱80,000 to ₱200,000 per square meter depending on location, with studio units starting around ₱2 million and luxury three-bedroom units reaching ₱15 million or more. The market shows steady growth potential driven by urbanization, infrastructure development, and strong rental demand from the expanding business districts.
If you want to go deeper, you can check our pack of documents related to the real estate market in the Philippines, based on reliable facts and data, not opinions or rumors.
Manila's condo market in 2025 shows average prices of ₱100,000-₱150,000 per sqm for most areas, with premium locations commanding higher rates.
The market offers strong investment potential with rental yields of 4-7% and steady appreciation, particularly in emerging districts near new infrastructure projects.
| Unit Type | Size (sqm) | Price Range (₱) | Price per sqm (₱) | Best Areas | Rental Yield | Investment Rating |
|---|---|---|---|---|---|---|
| Studio | 20-25 | 2M - 4.5M | 100,000 - 180,000 | Makati, BGC | 5-7% | High |
| 1-Bedroom | 25-40 | 4M - 7M | 120,000 - 175,000 | Ortigas, Eastwood | 4-6% | High |
| 2-Bedroom | 40-70 | 6M - 12M | 130,000 - 170,000 | Manila Bay, Alabang | 4-5% | Medium |
| 3-Bedroom | 70-100 | 10M - 20M | 140,000 - 200,000 | BGC, Makati CBD | 3-5% | Medium |
| Penthouse | 100+ | 20M+ | 200,000+ | Premium locations | 2-4% | Low |
| Affordable | 20-50 | 1.5M - 4M | 75,000 - 120,000 | Outer Manila, Cainta | 6-8% | High |
| Luxury | 50-150 | 8M - 30M | 160,000 - 250,000 | Forbes Park area | 2-4% | Low |
What's the current average selling price of condos in Manila?
Manila's condo market shows average selling prices ranging from ₱100,000 to ₱200,000 per square meter as of June 2025.
Premium locations in Makati Central Business District and Bonifacio Global City command the highest prices, typically ranging from ₱180,000 to ₱250,000 per square meter. Mid-tier areas like Ortigas Center and Eastwood City average ₱120,000 to ₱170,000 per square meter.
More affordable districts such as Mandaluyong, Pasig residential areas, and outer Manila locations offer condos at ₱80,000 to ₱130,000 per square meter. Studio units typically start at ₱2 million, one-bedroom units range from ₱4 million to ₱7 million, while two-bedroom units generally cost ₱6 million to ₱12 million.
Luxury three-bedroom units and penthouses in prime locations can exceed ₱15 million to ₱30 million. The wide price range reflects Manila's diverse neighborhoods and varying levels of development infrastructure.
It's something we develop in our Philippines property pack.
How do condo prices vary by neighborhood or district within Manila?
Manila's condo prices show significant variation across different districts, reflecting accessibility, infrastructure, and business proximity.
The most expensive areas include Makati CBD (₱200,000-₱250,000 per sqm), Bonifacio Global City (₱180,000-₱230,000 per sqm), and Ortigas Center (₱150,000-₱190,000 per sqm). These premium locations offer proximity to major corporations, international schools, and luxury amenities.
Mid-range districts like Eastwood City, Manila Bay area, and Alabang command ₱120,000 to ₱170,000 per square meter. These areas provide good connectivity and growing business hubs while remaining more affordable than the prime central business districts.
The most affordable areas include outer Manila districts, Cainta, Marikina, and some parts of Pasig at ₱75,000 to ₱120,000 per square meter. These locations still offer good transportation links but are further from the main business centers.
Emerging areas near new infrastructure projects like the Metro Rail Transit extensions show increasing price appreciation potential.
What are the average prices based on condo size, like studio, 1-bedroom, and 2-bedroom units?
Manila condo prices vary significantly based on unit size, with clear pricing tiers for different configurations.
| Unit Type | Typical Size (sqm) | Price Range (₱) | Average Price per sqm (₱) | Monthly Rental (₱) |
|---|---|---|---|---|
| Studio | 20-25 | 2,000,000 - 4,500,000 | 100,000 - 180,000 | 15,000 - 35,000 |
| 1-Bedroom | 25-40 | 4,000,000 - 7,000,000 | 120,000 - 175,000 | 25,000 - 50,000 |
| 2-Bedroom | 40-70 | 6,000,000 - 12,000,000 | 130,000 - 170,000 | 35,000 - 70,000 |
| 3-Bedroom | 70-100 | 10,000,000 - 20,000,000 | 140,000 - 200,000 | 50,000 - 100,000 |
| Penthouse | 100-200 | 20,000,000 - 50,000,000 | 200,000 - 300,000 | 80,000 - 200,000 |
| Loft | 30-50 | 5,000,000 - 9,000,000 | 150,000 - 180,000 | 30,000 - 60,000 |
| Micro Studio | 15-20 | 1,500,000 - 3,000,000 | 100,000 - 150,000 | 12,000 - 25,000 |
What is the average cost per square meter for condos in Manila?
Manila's condo market shows an average cost of ₱130,000 per square meter across all districts as of June 2025.
Premium central business districts command ₱180,000 to ₱250,000 per square meter, representing the highest tier of Manila's market. These areas include established business centers with mature infrastructure and proximity to multinational corporations.
Mid-tier locations average ₱120,000 to ₱170,000 per square meter, offering balanced value between location and affordability. These districts typically feature growing business hubs and improving transportation connectivity.
Budget-friendly areas range from ₱75,000 to ₱120,000 per square meter, providing entry-level opportunities for first-time buyers and investors seeking higher rental yields. The price per square meter generally decreases as distance from major business districts increases.
New developments with premium amenities can add ₱20,000 to ₱50,000 per square meter to base area pricing.
Don't lose money on your property in Manila
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
How much do taxes, association dues, and other purchase fees typically add to the total condo price?
Additional fees and taxes typically add 15-20% to the base condo purchase price in Manila.
Purchase taxes include Value Added Tax (VAT) of 12% for units priced above ₱3.2 million, transfer taxes ranging from 0.5% to 0.75% of the property value, and documentary stamp tax of 1.5% on the loan amount if financing is used. Registration fees and other government charges typically add another 2-3% to the total cost.
Monthly association dues range from ₱2,000 to ₱8,000 depending on unit size and building amenities. Premium developments with extensive facilities like pools, gyms, and concierge services command higher monthly fees. These dues cover building maintenance, security, utilities for common areas, and amenity upkeep.
Other ongoing costs include annual real property tax of 1-2% of assessed value, fire insurance typically costing ₱3,000 to ₱8,000 annually, and utilities connections which may require deposits of ₱10,000 to ₱20,000 per service.
Reservation fees typically range from ₱50,000 to ₱200,000 and are applied toward the total purchase price.
How have condo prices in Manila changed over the past 5 years and the past 12 months?
Manila's condo market has experienced steady appreciation over the past five years, with average annual growth of 6-8%.
From 2020 to 2025, prime locations like Makati and BGC saw cumulative price increases of 35-45%, while emerging areas experienced even higher growth rates of 50-60%. The pandemic initially slowed growth in 2020-2021, but recovery began strongly in 2022 and continued through 2025.
In the past 12 months leading to June 2025, Manila condo prices increased by approximately 4-6% across most districts. Premium locations showed more modest growth of 3-4% as they reached higher price points, while affordable areas and emerging districts maintained stronger appreciation of 6-8%.
The market has shown resilience due to continued urbanization, infrastructure development, and strong rental demand from the growing business process outsourcing industry and returning overseas Filipino workers. Supply constraints in prime locations have also supported price stability and growth.
It's something we develop in our Philippines property pack.
What's the condo price forecast for Manila over the next 1 year, 5 years, and 10 years?
Manila's condo market is projected to maintain steady growth over the coming decade, supported by continued urbanization and infrastructure development.
For the next 12 months through June 2026, price appreciation of 4-6% is expected across most districts. Prime locations may see slower growth of 3-4% as they approach pricing saturation, while emerging areas could experience 6-8% appreciation driven by new infrastructure projects and business district development.
The five-year outlook through 2030 suggests cumulative price growth of 25-35% for most Manila areas. Districts benefiting from new mass transit systems, particularly those along the Metro Rail Transit expansion routes, are likely to outperform with potential appreciation of 40-50% over this period.
Looking ahead ten years to 2035, continued urbanization and population growth are expected to drive sustained demand. Total appreciation of 60-80% is possible for well-located properties, though growth rates will likely moderate as the market matures. Areas with strong transportation connectivity and proximity to business centers will continue to outperform.
How does buying a condo in Manila compare to buying in other major cities in the Philippines or Southeast Asia?
Manila offers competitive value compared to other major Southeast Asian cities while providing strong growth potential.
| City | Average Price per sqm (USD) | Rental Yield | 5-Year Appreciation | Market Maturity |
|---|---|---|---|---|
| Manila | $1,800 - $2,500 | 4-7% | 35-45% | Developing |
| Cebu City | $1,200 - $1,800 | 5-8% | 40-50% | Emerging |
| Bangkok | $2,500 - $4,000 | 3-5% | 20-30% | Mature |
| Kuala Lumpur | $2,000 - $3,200 | 3-6% | 15-25% | Mature |
| Ho Chi Minh City | $1,500 - $2,800 | 4-6% | 30-40% | Developing |
| Jakarta | $1,300 - $2,200 | 4-7% | 25-35% | Developing |
| Singapore | $8,000 - $15,000 | 2-4% | 10-20% | Highly Mature |
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 some recent examples of condo purchase prices in different parts of Manila?
Recent condo purchases across Manila demonstrate the wide price range and market dynamics as of June 2025.
In Makati CBD, a 45-sqm one-bedroom unit in a premium tower sold for ₱9.5 million (₱211,000 per sqm), while a similar-sized unit in a mid-tier building commanded ₱7.2 million (₱160,000 per sqm). These examples show how building quality and specific location within the same district affect pricing significantly.
Bonifacio Global City transactions include a 35-sqm studio unit selling for ₱6.8 million (₱194,000 per sqm) and a 65-sqm two-bedroom unit purchased for ₱12.5 million (₱192,000 per sqm). The consistent per-square-meter pricing reflects BGC's established market positioning.
In emerging areas, a 28-sqm studio in Eastwood City sold for ₱3.4 million (₱121,000 per sqm), while a 55-sqm two-bedroom unit in Mandaluyong was purchased for ₱5.8 million (₱105,000 per sqm). These transactions highlight the value proposition of areas with growing infrastructure and business development.
Affordable district examples include a 40-sqm one-bedroom unit in outer Pasig selling for ₱3.6 million (₱90,000 per sqm) and a 22-sqm studio in Cainta purchased for ₱1.9 million (₱86,000 per sqm).
Which areas are considered the most expensive, the most affordable, and the most up-and-coming for condo buyers?
Manila's condo market shows distinct pricing tiers based on location, infrastructure, and development status.
1. **Most Expensive Areas:** Makati Central Business District leads with prices reaching ₱250,000 per sqm, followed by Bonifacio Global City at ₱230,000 per sqm. Ortigas Center commands ₱190,000 per sqm, while established Rockwell Center areas reach ₱220,000 per sqm. These areas offer premium amenities, proximity to multinational corporations, and mature infrastructure.2. **Most Affordable Areas:** Outer Manila districts like Cainta and Marikina offer entry points at ₱75,000-₱95,000 per sqm. Parts of Pasig residential areas average ₱85,000-₱110,000 per sqm, while some Mandaluyong locations provide options at ₱90,000-₱120,000 per sqm.3. **Most Up-and-Coming Areas:** Eastwood City shows strong growth potential with current prices at ₱120,000-₱150,000 per sqm. The Manila Bay area development is attracting attention at ₱130,000-₱160,000 per sqm. Areas along new Metro Rail Transit routes, particularly in Quezon City borders, show appreciation potential at current levels of ₱100,000-₱140,000 per sqm.4. **Value Investment Zones:** Alabang maintains steady growth at ₱140,000-₱170,000 per sqm, while Greenhills offers established amenities at ₱130,000-₱160,000 per sqm.5. **Emerging Business Districts:** New developments around airport areas and logistics hubs present opportunities at ₱110,000-₱140,000 per sqm with strong rental demand from business travelers and logistics workers.What are the best condo options if you plan to live in it, rent it short term or long term, or flip it for profit later?
The optimal condo choice in Manila depends significantly on your intended use and investment strategy.
For personal residence, prioritize locations with excellent connectivity to your workplace, quality amenities, and established neighborhoods. Makati CBD, BGC, and Ortigas Center offer the best lifestyle amenities and proximity to business centers, though at premium prices. Mid-tier options in Eastwood City or Alabang provide good balance between cost and convenience.
Short-term rental strategies work best near business districts, airports, and tourist areas. Studio and one-bedroom units in BGC, Makati, and Manila Bay area generate strong Airbnb income due to business traveler demand. Units near Ninoy Aquino International Airport also perform well for short-stay accommodations.
Long-term rental investments should focus on areas with strong employment growth and transportation accessibility. One and two-bedroom units in emerging business districts like Eastwood City, Ortigas extensions, and areas near BPO centers provide steady rental income with good appreciation potential.
For flipping profits, target pre-selling units in up-and-coming areas with confirmed infrastructure projects. Areas along new MRT routes, emerging business districts, and mixed-use developments offer the highest appreciation potential. Focus on developments by reputable builders with strong delivery track records.
It's something we develop in our Philippines property pack.
What are the smartest condo investments in Manila right now, based on value, appreciation potential, or rental yield?
Manila's condo market offers several strategic investment opportunities based on different criteria and risk profiles.
**High Rental Yield Investments:**1. Studio units in established BPO areas: 6-8% yields2. One-bedroom units near universities: 5-7% yields 3. Affordable units in Mandaluyong and Pasig: 6-8% yields4. Units near airport and logistics hubs: 5-7% yields5. Student housing in university belt areas: 7-9% yields**Best Appreciation Potential:**1. Pre-selling units along new MRT routes: 40-60% over 5 years2. Emerging business districts like Eastwood extensions: 35-50% over 5 years3. Manila Bay area developments: 30-45% over 5 years4. Mixed-use township developments: 35-50% over 5 years5. Areas near new infrastructure projects: 40-55% over 5 years**Balanced Value Investments:**1. Established areas with room for growth like Alabang: steady 25-35% appreciation2. Ortigas extensions: good rental yield (4-6%) plus appreciation (30-40%)3. Greenhills area: stable market with moderate growth (20-30%)4. Quality developments in Mandaluyong: strong yields (5-7%) with appreciation (25-35%)**Risk Considerations:** Focus on developments by established builders, avoid oversupplied areas, and prioritize locations with confirmed transportation improvements and business district expansion plans.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 2025 presents compelling opportunities for both residents and investors, with prices ranging from accessible entry points to premium luxury options.
The key to successful investment lies in understanding location dynamics, infrastructure development, and matching your strategy to market conditions for optimal returns.
Sources
- Manila Average Condo Prices - BambooRoutes Market Analysis
- Manila Property Investment Index - Numbeo
- Manila Condo Listings - OnePropertee
- Manila Property Market Report - RCBC Bank
- Manila Condo Market - Dot Property Philippines
- Philippines Property Price History - Global Property Guide
- Manila Condo Rental Yields 2025 - Bed and Go Real Estate
- Manila Housing Market Predictions - Real Wealth Network