What are housing prices like in Manila right now? (2026)

Authored by the expert who managed and guided the team behind the Philippines Property Pack

Get all the data you need about the real estate market in Manila

Who is the author of this content?

BAMBOOROUTES

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

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Manila. If you’d like to learn more about us, you can check our presentation page.

What is the average housing price in Manila in 2026?

The median housing price in Manila is more telling than the average because Manila has many small condos, while a few very expensive homes in BGC, Makati, Rockwell, San Juan, and Alabang can push the average much higher.

We are writing this as of June 2026, with the latest data collected from authoritative sources that we manually double checked.

The estimated median housing price in Manila in 2026 is about ₱7.0 million, or around $113,000 and €98,000. The estimated average housing price in Manila in 2026 is about ₱11.5 million, or around $186,000 and €162,000.

A realistic range for about 80% of residential properties in the Manila market in 2026 is ₱3.2 million to ₱38 million, or about $52,000 to $616,000 and €45,000 to €534,000.

A realistic entry range in Manila in 2026 is ₱2.5 million to ₱4.5 million, or about $41,000 to $73,000 and €35,000 to €63,000, which usually buys a 22 to 30 sqm studio condo in Taft, Sampaloc, Sta. Mesa, or parts of Quezon City.

A realistic luxury range in Manila in 2026 is ₱35 million to ₱120 million, or about $567,000 to $1.94 million and €492,000 to €1.69 million, which usually buys a high-end 2-bedroom or 3-bedroom condo in Rockwell, Makati CBD, BGC, McKinley West, Ortigas, or San Juan.

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 residential sale prices are typically about 6% to 9% below listing prices, with a central estimate near 7.5% below asking price.

This gap exists because Metro Manila still has high condo inventory, and buyers can compare many similar units before making an offer. The gap is usually widest in oversupplied condo areas and smallest for scarce, well-priced units in Rockwell, Makati CBD, and the best parts of BGC.

What is the price per sq m or per sq ft for properties in Manila in 2026?

As of June 2026, the median housing price per square meter in Manila is about ₱180,000, or $2,917 and €2,528, which is about ₱16,720 per square foot, or $271 and €235. The average housing price per square meter in Manila is about ₱220,000, or $3,566 and €3,090, which is about ₱20,440 per square foot, or $331 and €287.

The highest price per square meter in Manila is usually found in compact luxury condos in Rockwell, Makati CBD, BGC, and McKinley West, while the lowest price per square meter is usually found in older condos, mass-market projects, and less central locations.

In Manila in 2026, the highest broad price ranges are usually in Rockwell at about ₱350,000 to ₱550,000 per sqm, Makati CBD at about ₱300,000 to ₱450,000 per sqm, and BGC or McKinley West at about ₱230,000 to ₱390,000 per sqm. The lowest broad ranges are usually in Caloocan, Valenzuela, Sampaloc, Sta. Mesa, and parts of Quezon City, from about ₱70,000 to ₱170,000 per sqm.

How have property prices evolved in Manila?

Compared with one year ago, Manila residential prices are about 2.5% higher in nominal pesos in 2026. After inflation, Manila housing prices are about 4% lower, because consumer prices rose faster than home prices.

Compared with two years ago, Manila residential prices are only modestly higher in peso terms, because condo oversupply and high financing costs slowed the market after the pandemic rebound. In real terms, many buyers in Manila have not seen strong property gains over the last two years because inflation has eaten a large part of the nominal increase.

By the way, we’ve written a blog article detailing the latest updates on property price variations in The Philippines.

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.

How do prices vary by housing type in Manila in 2026?

In the visible Manila residential market in 2026, condos account for about 68% of listings, houses and lots about 14%, townhouses about 8%, luxury condos and penthouses about 4%, residential lots about 3%, and low-rise apartments or small multi-unit buildings about 3%, because online listings in Metro Manila are dominated by condominium stock.

As of June 2026, a studio condo in Manila averages about ₱4.2 million, or $68,000 and €59,000, while a 1-bedroom condo averages about ₱7.5 million, or $122,000 and €105,000. A 2-bedroom condo averages about ₱15.5 million, or $251,000 and €218,000, a 3-bedroom condo averages about ₱32 million, or $519,000 and €449,000, a townhouse averages about ₱24 million, or $389,000 and €337,000, and a house and lot averages about ₱55 million, or $892,000 and €773,000.

If you want to know more, you should read our dedicated analyses:

• 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 do property prices compare between existing and new homes in Manila in 2026?

In Manila in 2026, new-build or pre-selling residential properties are typically about 12% to 20% more expensive than comparable resale homes, with a central estimate around 15%.

This premium exists because developers sell staged payments, new amenities, easier documentation, and lower upfront cash, while older resale units may need renovation, appliance replacement, or air-conditioning upgrades.

How do property prices vary by neighborhood in Manila in 2026?

BGC and McKinley West mainly offer modern condos, premium 1-bedroom units, family-sized 2-bedroom units, and high-end new projects. As of June 2026, typical homes in this part of Manila cost about ₱12 million to ₱70 million, or $194,000 to $1.13 million and €169,000 to €984,000, because the area has offices, schools, malls, and strong expat demand.

Makati CBD and Rockwell mainly offer premium condos, older large units, luxury serviced-style residences, and some of the most expensive residential buildings in Manila. As of June 2026, typical homes in this area cost about ₱18 million to ₱120 million, or $292,000 to $1.94 million and €253,000 to €1.69 million, because the area combines scarcity, prestige, business access, and established lifestyle infrastructure.

Ortigas, Pasig, and Mandaluyong mainly offer mid-market condos, family condos, investment units, and ready-for-occupancy homes. As of June 2026, typical homes in this corridor cost about ₱7 million to ₱22 million, or $113,000 to $357,000 and €98,000 to €309,000, because the area is central but still cheaper than Makati and BGC.

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:

Manila area	Buyer profile	Typical price range	Typical range per sqm	Typical range per sqft
Rockwell	Luxury, expat, scarce supply	₱35M to ₱120M $567k to $1.94M	₱350k to ₱550k $5,673 to $8,914	₱32.5k to ₱51.1k $527 to $828
Makati CBD	Prime business, luxury	₱18M to ₱90M $292k to $1.46M	₱300k to ₱450k $4,862 to $7,293	₱27.9k to ₱41.8k $451 to $677
BGC	Expat, modern, popular	₱12M to ₱70M $194k to $1.13M	₱230k to ₱380k $3,728 to $6,159	₱21.4k to ₱35.3k $346 to $572
McKinley West	New luxury, family	₱14M to ₱65M $227k to $1.05M	₱250k to ₱390k $4,052 to $6,321	₱23.2k to ₱36.2k $376 to $587
Ortigas Center	Commute, office, mid-high	₱8M to ₱35M $130k to $567k	₱170k to ₱260k $2,755 to $4,214	₱15.8k to ₱24.2k $256 to $391
Alabang and Filinvest	Family, suburban luxury	₱10M to ₱55M $162k to $891k	₱160k to ₱280k $2,593 to $4,538	₱14.9k to ₱26.0k $241 to $422
Bay Area and Pasay-Parañaque	Investor, oversupply	₱6M to ₱28M $97k to $454k	₱130k to ₱230k $2,107 to $3,728	₱12.1k to ₱21.4k $196 to $346
Quezon City	Value, universities, families	₱4M to ₱22M $65k to $357k	₱95k to ₱180k $1,540 to $2,917	₱8.8k to ₱16.7k $143 to $271
Manila City: Malate, Ermita, Taft	Student, city center, value	₱3.5M to ₱18M $57k to $292k	₱120k to ₱190k $1,945 to $3,079	₱11.1k to ₱17.7k $180 to $287
Mandaluyong and Pioneer	Commute, mid-market	₱5M to ₱20M $81k to $324k	₱130k to ₱200k $2,107 to $3,241	₱12.1k to ₱18.6k $196 to $301
San Juan and New Manila	Family, low-rise, townhouse	₱12M to ₱60M $194k to $972k	₱140k to ₱240k $2,269 to $3,890	₱13.0k to ₱22.3k $211 to $361
Caloocan and Valenzuela	Entry, budget	₱2.5M to ₱10M $41k to $162k	₱70k to ₱130k $1,135 to $2,107	₱6.5k to ₱12.1k $105 to $196

How much more do you pay for properties in Manila when you include renovation work, taxes, and fees?

In Manila in 2026, buyers should usually add about 5% to 8% to the purchase price for a clean resale deal, or 10% to 25% if the buyer absorbs more costs or the property needs renovation.

For a property around $200,000, which is about ₱12.3 million, a Manila buyer may pay about ₱1.2 million to ₱2.4 million extra for taxes, transfer costs, basic works, furnishing, and repairs. The all-in budget would then be about ₱13.5 million to ₱14.7 million, or roughly $219,000 to $238,000.

For a property around $500,000, which is about ₱30.9 million, a Manila buyer may pay about ₱3.0 million to ₱6.0 million extra if the property needs normal upgrades. The all-in budget would then be about ₱33.9 million to ₱36.9 million, or roughly $549,000 to $598,000.

For a property around $1,000,000, which is about ₱61.7 million, a Manila buyer may pay about ₱6.0 million to ₱15.0 million extra, especially if the home is an older luxury condo, townhouse, or house-and-lot. The all-in budget would then be about ₱67.7 million to ₱76.7 million, or roughly $1.10 million to $1.24 million.

By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in The Philippines.

Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Manila

Extra cost	Type	Estimated cost range
Documentary stamp tax	Tax	About 1.5% of the transaction value, or around ₱150,000 per ₱10 million. That is about $2,430 per ₱10 million.
Local transfer tax	Tax	Usually about 0.5% to 0.75% of the transaction value, depending on the local government. On a ₱10 million purchase, that is about ₱50,000 to ₱75,000, or $810 to $1,215.
Registration and title fees	Fees	Usually about 0.25% to 0.6% of the transaction value. On a ₱10 million purchase, that is about ₱25,000 to ₱60,000, or $405 to $970.
Notarial and legal fees	Fees	Usually about 0.25% to 1.0%, depending on the lawyer, documents, and deal complexity. On a ₱10 million purchase, that is about ₱25,000 to ₱100,000, or $405 to $1,620.
Broker commission	Market cost	Usually about 3% to 5%, and often paid by the seller. Even when the buyer does not pay it directly, it can affect the negotiation room and final net price.
Capital gains tax on resale	Seller-side tax	Usually 6% in a resale transaction and often treated as seller-side. On a ₱10 million sale, that is about ₱600,000, or $9,720, but allocation should always be checked in the deed.
Developer VAT, if applicable	Tax	Can be up to 12% depending on the property type, price, and structure of the sale. It may be embedded in the developer price, so buyers should ask for the full computation.
Light renovation and furnishing	Renovation	Often around ₱300,000 to ₱1.5 million, or about $4,900 to $24,300. This may cover repainting, basic furniture, appliances, curtains, and minor repairs.
Full condo renovation	Renovation	Often around ₱15,000 to ₱40,000 per sqm, or about $243 to $648 per sqm. Older premium condos can cost more if bathrooms, kitchens, flooring, and air-conditioning need replacement.
Older townhouse renovation	Renovation	Often around ₱25,000 to ₱60,000 per sqm, or about $405 to $972 per sqm. Costs rise quickly when the work includes waterproofing, electrical systems, plumbing, roofing, or built-ins.

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, or about ₱6.17 million, there is a real Manila market, mostly for a 24 to 30 sqm new or ready-for-occupancy studio in Taft or Malate, a 32 to 40 sqm older 1-bedroom condo in Mandaluyong or Manila City, or a 28 to 36 sqm existing studio or 1-bedroom unit near universities in Quezon City.

With $200,000, or about ₱12.34 million, a buyer in Manila can look at a 40 to 48 sqm existing 1-bedroom condo in BGC or McKinley Hill, a 60 to 75 sqm existing 2-bedroom condo in Ortigas or Pasig, or a 70 to 85 sqm existing 2-bedroom condo in Manila City or Quezon City.

With $300,000, or about ₱18.51 million, a buyer in Manila can look at a 70 to 85 sqm existing 2-bedroom condo on the BGC fringe or McKinley Hill, an 80 to 100 sqm existing 2-bedroom condo in Ortigas or Mandaluyong, or a 100 to 130 sqm existing townhouse or older house segment in parts of Quezon City or the San Juan fringe.

With $500,000, or about ₱30.85 million, a buyer in Manila can look at a 90 to 110 sqm existing premium 2-bedroom condo in BGC, a 110 to 140 sqm existing 3-bedroom condo in Ortigas, San Juan, or Alabang, or a 140 to 180 sqm existing townhouse in San Juan or New Manila.

With $1,000,000, or about ₱61.7 million, a buyer in Manila can look at a 150 to 220 sqm existing 3-bedroom luxury condo in Makati CBD or Rockwell, a 180 to 240 sqm new or existing large 3-bedroom condo in BGC or McKinley West, or a 250 to 350 sqm existing house-and-lot or high-end townhouse in San Juan, New Manila, or Alabang.

With $2,000,000, or about ₱123.4 million, there is a real Manila luxury market, but it is thin and requires careful checking. A buyer can look at a 250 to 400 sqm existing luxury condo or penthouse in Rockwell or Makati CBD, a 400 to 700 sqm lot house-and-lot in Alabang or San Juan, or a 250 to 350 sqm ultra-premium residence in BGC, McKinley West, or Makati.

If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in The Philippines.

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 we trust it	How we used it
Bangko Sentral ng Pilipinas Residential Property Price Index Q4 2025	This is the Philippine central bank’s official residential property price index based on housing loan data.	We used it to anchor the official residential price trend in NCR. We also used the condo and house split to estimate how Manila prices moved by property type.
BSP RPPI publication page	This is the official BSP page for RPPI methodology and quarterly releases.	We used it to confirm the current index framework. We treated BSP as the strongest official source for price direction, not as a listing-price database.
Philippine Statistics Authority May 2026 inflation report	PSA is the official source for Philippine inflation data.	We used it to adjust Manila nominal property changes for inflation. We used May 2026 because it was the latest official inflation point in the working dataset.
BSP Daily Reference Exchange Rate Bulletin	BSP is the official domestic reference point for peso exchange rates.	We used it to convert Manila peso prices into US dollars. We used a June 2026 working rate of ₱61.70 per $1.
European Central Bank euro reference rate for PHP	The ECB publishes transparent euro reference exchange rates for major currencies, including the Philippine peso.	We used it to convert Manila peso prices into euros. We used a June 2026 working rate of ₱71.193 per €1.
Colliers Philippines Q1 2026 Residential Market Report	Colliers is a major international property consultancy with regular Metro Manila residential research.	We used it to understand condo supply, vacancy, preselling demand, and buyer pressure. We also used it to explain why asking prices and actual sale prices can differ.
Leechiu Property Consultants Q1 2026 Philippine property market takeaways	Leechiu is a major Philippine property consultancy that tracks demand, inventory, and market sentiment.	We used it to cross-check the market recovery and the cautious buyer environment. We also used it to estimate negotiation room in condo-heavy areas.
Lamudi Metro Manila condo listings	Lamudi is a large property portal and useful for current asking-price evidence.	We used it to sample current condo listings, sizes, entry prices, and mid-market availability. We did not treat listings as closed-sale prices.
Dot Property BGC listings	Dot Property is a large regional property portal with visible prices for prime Metro Manila listings.	We used it to cross-check high-end asking prices in BGC and nearby luxury districts. We adjusted asking prices downward where negotiation looked likely.
BIR Documentary Stamp Tax page	BIR is the official tax authority for Philippine national tax rules.	We used it to identify the official documentary stamp tax framework. We supplemented it with standard market practice for other buying costs.
Bureau of Internal Revenue	BIR is the national agency responsible for Philippine tax administration.	We used it as the official reference point for national transaction taxes. We then separated seller-side and buyer-side costs in plain language.
Philippine Statistics Authority	PSA is the national statistics agency of the Philippines.	We used PSA as the official source for inflation context. We used inflation to explain why nominal and real property price movements differ.
Bangko Sentral ng Pilipinas	BSP is the Philippine central bank and one of the strongest official sources for financial and property-credit data.	We used BSP as the main official anchor for NCR residential price trends and currency conversion. We did not use BSP data as a neighborhood price list.
Colliers Philippines	Colliers publishes regular property research and tracks large Metro Manila residential supply trends.	We used Colliers to understand why Manila is not in a broad property boom in 2026. We also used its market commentary to interpret vacancy and preselling demand.
Leechiu Property Consultants	Leechiu is a Philippine real estate advisory firm with local market coverage.	We used Leechiu as a second consultancy source to avoid relying on only one market report. We used it mainly for demand, inventory, and buyer behavior context.