As of June 2026, a realistic benchmark for an apartment in Manila in 2026 is about ₱7.8 million median and ₱10.9 million average, or roughly $127,000 to $177,000 and €111,000 to €155,000, before buyer costs.
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We constantly update this blog post because apartment prices in Manila in 2026 are moving differently from one district to another.
Manila is not one single condo market, because a small unit in Sampaloc, Sta. Mesa, or Tondo does not behave like a unit near Roxas Boulevard or Manila Bay.
The simple rule is this: buyers should look at the building, street, flood risk, rental demand, and closing costs before trusting any average price for Manila apartments.
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 apartment prices in 2026 look cheaper than Makati or BGC, but weak buildings can stay hard to resell even when the entry price looks attractive.
- The most useful Manila apartment benchmark is not the average price, because the average is pulled up by Manila Bay, Roxas Boulevard, Ermita, and Binondo.
- A studio apartment in Manila in 2026 can still be bought below ₱5 million, but the better rental locations usually cost more per square meter.
- Manila Bay apartments often look discounted in 2026, but oversupply means buyers should negotiate harder and avoid assuming fast price recovery.
- Sampaloc and Sta. Mesa are not luxury areas, but they can offer stronger rental depth because of students, hospitals, transport, and worker demand.
- For a foreign buyer in Manila in 2026, a 30% to 40% cash buffer is safer than planning around the minimum bank down payment.
- Buyer closing costs in Manila are easy to underestimate because documentary stamp tax, transfer tax, registration, admin fees, and due diligence arrive together.
- Electricity is the monthly cost that can surprise Manila condo owners most, especially if air-conditioning is used every day.
- BIR zonal values are useful for checking taxes in Manila, but they should not be treated as true market prices for apartments.
How much do apartments really cost in Manila in 2026?
What's the average and median apartment price in Manila in 2026?
As of June 2026, a realistic Manila apartment benchmark is about ₱7.8 million median and ₱10.9 million average, which is roughly $127,000 to $177,000 or €111,000 to €155,000.
This means the typical Manila apartment price per square meter is about ₱185,000 median and ₱210,000 average, or about $3,000 to $3,410 and €2,630 to €2,990 per m², which is about ₱17,200 to ₱19,500 per sq ft, or $279 to $317 and €244 to €277 per sq ft.
Most standard apartments in Manila in 2026 fall between about ₱3.2 million and ₱18 million, or roughly $52,000 to $292,000 and €46,000 to €256,000, with the wide range mostly explained by unit size, building age, and neighborhood.
How much is a studio apartment in Manila in 2026?
As of June 2026, a typical studio apartment in Manila costs about ₱4.6 million, or roughly $75,000 and €65,000.
For Manila studios in 2026, entry-level to mid-range units usually cost ₱3.2 million to ₱6.2 million, or about $52,000 to $101,000 and €46,000 to €88,000, while high-end studios near Manila Bay, Roxas Boulevard, Ermita, or stronger Malate buildings can reach ₱6.5 million to ₱8 million, or about $105,000 to $130,000 and €92,000 to €114,000.
Most studio apartments in Manila are small, usually around 22 to 30 m², so buyers should always compare the price per square meter and not only the total ticket price.
How much is a one-bedroom apartment in Manila in 2026?
As of June 2026, a typical one-bedroom apartment in Manila costs about ₱7.4 million, or roughly $120,000 and €105,000.
For Manila one-bedroom apartments in 2026, entry-level to mid-range units usually cost ₱5.8 million to ₱10.5 million, or about $94,000 to $170,000 and €82,000 to €149,000, while high-end one-bedrooms in better Ermita, Malate, Binondo, or Manila Bay buildings can reach ₱11 million to ₱15 million, or about $178,000 to $243,000 and €156,000 to €213,000.
Most one-bedroom apartments in Manila are around 32 to 45 m², which makes the layout, balcony, parking option, and building management very important.
How much is a two-bedroom apartment in Manila in 2026?
As of June 2026, a typical two-bedroom apartment in Manila costs about ₱12.8 million, or roughly $208,000 and €182,000.
For Manila two-bedroom apartments in 2026, entry-level to mid-range units usually cost ₱9.5 million to ₱18 million, or about $154,000 to $292,000 and €135,000 to €256,000, while high-end two-bedrooms near Roxas Boulevard, Manila Bay, Ermita, Malate, or Binondo can reach ₱19 million to ₱26 million, or about $308,000 to $422,000 and €270,000 to €370,000.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Manila.
How much is a three-bedroom apartment in Manila in 2026?
As of June 2026, a typical three-bedroom apartment in Manila costs about ₱22 million, or roughly $357,000 and €313,000.
For Manila three-bedroom apartments in 2026, entry-level to mid-range units usually cost ₱16 million to ₱32 million, or about $260,000 to $519,000 and €228,000 to €455,000, while high-end large units in prime Roxas Boulevard, Manila Bay, Ermita, or Malate buildings can move above ₱35 million, or about $568,000 and €498,000.
Most three-bedroom apartments in Manila are around 80 to 120 m², but good large units are less common than studios and one-bedrooms, so building-by-building checks matter a lot.
What's the price gap between new and resale apartments in Manila in 2026?
As of June 2026, new-build apartments in Manila usually cost about 8% to 15% more than comparable resale apartments, although the premium can disappear in oversupplied towers.
A realistic average price for new-build apartments in Manila in 2026 is about ₱225,000 per m², or roughly $3,650 and €3,200 per m².
A realistic average price for resale apartments in Manila in 2026 is about ₱195,000 per m², or roughly $3,160 and €2,770 per m², but older buildings in Sampaloc, Sta. Mesa, Paco, San Andres, and Tondo can be much cheaper.
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Can I afford to buy in Manila in 2026?
What's the typical total budget (all-in) to buy an apartment in Manila in 2026?
As of June 2026, a foreign buyer should plan about ₱8.2 million all-in for a standard Manila apartment, or roughly $133,000 and €117,000.
This all-in Manila apartment budget includes the purchase price plus documentary stamp tax, local transfer tax, LRA registration, notarial work, certificates, admin fees, legal checks, and move-in costs.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Manila property pack.
What down payment is typical to buy in Manila in 2026?
As of June 2026, a typical Manila apartment buyer should expect a 20% to 30% down payment, while a foreign buyer should plan around ₱2.3 million to ₱3.1 million on a ₱7.8 million apartment, or about $37,000 to $50,000 and €33,000 to €44,000.
Most Philippine banks and lenders usually want at least 20% down for a standard home loan, although foreign income, documentation, and residency status can make approval more conservative.
For a foreign buyer in Manila in 2026, a 30% to 40% down payment is usually safer because it can reduce financing stress and improve the chance of better mortgage terms.
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Which neighborhoods are cheapest or priciest in Manila in 2026?
How much does the price per m² for apartments vary by neighborhood in Manila in 2026?
As of June 2026, apartment prices in Manila range from about ₱90,000 to ₱280,000 per m², or roughly $1,460 to $4,540 and €1,280 to €3,980 per m², depending on the neighborhood and building.
The most affordable Manila neighborhoods in 2026 are usually Tondo, Sampaloc, Sta. Mesa, Paco, and San Andres, where many apartments trade around ₱90,000 to ₱170,000 per m², or about $1,460 to $2,760 and €1,280 to €2,420 per m².
The most expensive Manila apartment areas in 2026 are usually Manila Bay, Roxas Boulevard, Ermita, Malate, and Binondo, where stronger buildings often reach ₱150,000 to ₱280,000 per m², or about $2,430 to $4,540 and €2,130 to €3,980 per m².
What neighborhoods are best for first-time buyers on a budget in Manila in 2026?
As of June 2026, the three best Manila neighborhoods for first-time buyers on a budget are Sampaloc, Sta. Mesa, and Paco, with San Andres and selected parts of Tondo also worth checking.
In these budget-friendly Manila neighborhoods, standard apartments usually cost about ₱3.2 million to ₱8.5 million, or roughly $52,000 to $138,000 and €46,000 to €121,000.
Sampaloc offers University Belt rental demand, Sta. Mesa offers transport access and relative affordability, and Paco gives buyers central Manila access without paying Ermita or Malate prices.
The main trade-off is that cheaper Manila apartment buildings can have weaker management, older elevators, flood exposure, smaller units, and slower resale demand.
Which neighborhoods have the fastest-rising apartment prices in Manila in 2026?
As of June 2026, the strongest price momentum for apartments in Manila is in Sampaloc, Sta. Mesa, and selected Ermita-Malate buildings, not in every Manila Bay tower.
In these stronger Manila apartment pockets, a realistic 2026 year-over-year price increase is about 3% to 6%, while oversupplied towers may stay flat or only recover slowly.
The main driver is practical demand from students, workers, hospitals, transport links, and central-city renters, while Manila Bay still has to digest a larger supply overhang.
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What extra costs will I pay on top of the apartment price in Manila in 2026?
What are all the buyer closing costs when you buy an apartment in Manila?
For a typical ₱7.8 million Manila apartment purchase, buyer closing costs are usually about ₱275,000 to ₱430,000, or roughly $4,500 to $7,000 and €3,900 to €6,100.
The main buyer closing costs in Manila are documentary stamp tax, Manila local transfer tax, LRA registration fees, notarial fees, certified copies, tax clearance, legal checks, admin costs, and move-in fees.
The largest buyer cost is usually documentary stamp tax at about 1.5% of the taxable value, which is often based on the higher of the selling price, zonal value, or assessed value.
Some closing costs in Manila are fixed by law, but notarial fees, admin charges, legal checks, broker arrangements, move-in fees, and who pays certain items can vary by contract.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Manila?
In Manila in 2026, apartment buyers should usually budget about 4.5% of the purchase price for buyer-side closing costs.
A realistic low-to-high range for most standard Manila apartment transactions is about 3.5% to 5.5%, with new developer sales sometimes higher if VAT or miscellaneous charges are not included.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Manila.
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What are the ongoing monthly and yearly costs of an apartment in Manila in 2026?
What are typical HOA fees in Manila right now?
Condo HOA fees, usually called association dues in Manila, are common and typically cost about ₱80 to ₱180 per m² per month, so a 45 m² one-bedroom often pays about ₱3,600 to ₱8,100 monthly, or roughly $58 to $131 and €51 to €115.
For Manila apartments in 2026, basic buildings may charge around ₱2,500 to ₱5,000 per month, or about $41 to $81 and €36 to €71, while amenity-heavy or older high-maintenance buildings can reach ₱8,000 to ₱15,000 per month, or about $130 to $243 and €114 to €213.
What utilities should I budget monthly in Manila right now?
A typical occupied Manila apartment should budget about ₱4,500 to ₱8,500 per month for utilities in 2026, or roughly $73 to $138 and €64 to €121.
The realistic monthly utility range in Manila is about ₱3,500 to ₱6,000 for a small studio and ₱6,000 to ₱12,000 for a larger two-bedroom with regular air-conditioning, or about $57 to $195 and €50 to €171.
This Manila utilities budget usually includes electricity, water, fiber internet, mobile service, LPG or cooking costs, and small household services.
Electricity is usually the most expensive utility for Manila apartment owners because Meralco rates are high and air-conditioning use can change the bill very quickly.
How much is property tax on apartments in Manila?
For a typical ₱7.8 million Manila apartment, annual property tax is usually around ₱15,000 to ₱30,000, or roughly $240 to $490 and €210 to €430.
Manila real property tax is calculated on assessed value, not simply on the full market price, so the effective burden for a residential condo is usually much lower than foreign buyers expect.
Depending on the declared value and assessment base, a realistic annual Manila apartment property-tax range is about ₱8,000 to ₱60,000, or roughly $130 to $970 and €110 to €850.
What's the yearly building maintenance cost in Manila?
For Manila apartment owners in 2026, yearly building maintenance is mostly paid through association dues and usually equals about ₱1,000 to ₱2,200 per m² per year, or about $16 to $36 and €14 to €31 per m² per year.
For a 45 m² Manila one-bedroom, the realistic yearly maintenance range is about ₱45,000 to ₱99,000 in dues, or roughly $730 to $1,610 and €640 to €1,410, before personal repairs and special assessments.
These building maintenance costs usually cover security, cleaning, elevators, common electricity, water systems, property management, common-area repairs, and reserve funds.
In Manila condos, building maintenance is usually included in association dues, but owners should still keep a separate repair reserve for aircon servicing, repainting, appliances, leaks, and special assessments.
How much does home insurance cost in Manila?
For a normal Manila apartment, annual home insurance for contents and interior improvements usually costs about ₱3,000 to ₱12,000, or roughly $50 to $195 and €40 to €170.
For larger or better-furnished Manila apartments, a realistic annual insurance range is about ₱10,000 to ₱25,000, or roughly $160 to $410 and €140 to €360, depending on insured value and coverage.
Home insurance is usually optional for fully paid Manila apartment owners, but lenders can require insurance when the apartment is financed with a mortgage.
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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 used | Why the source matters | How we used it |
|---|---|---|
| Bangko Sentral ng Pilipinas RPPI | BSP is the official central-bank source for bank-financed residential price trends. | We used it to anchor Manila apartment price direction in 2026. We treated it as a price-momentum source, not a neighborhood price list. |
| BSP RPPI Q4 2025 report | This report gives the latest detailed RPPI reading before June 2026. | We used it to check that Philippine residential price growth had slowed. We used that signal before applying discounts to weak Manila condo stock. |
| BSP weekly lending rates by loan type | BSP publishes lending-rate data directly from the Philippine financial system. | We used it to understand current mortgage affordability in Manila. We cross-checked it with bank home-loan pages and mortgage-rate comparisons. |
| BSP exchange-rate data | BSP is the official Philippine source for peso and dollar reference exchange rates. | We used it to convert Manila apartment prices into US dollars. We rounded conversions so readers can understand the budget quickly. |
| European Central Bank EUR/PHP rate | ECB is the official euro-area source for euro reference exchange rates. | We used it to convert Manila apartment prices into euros. We kept euro amounts rounded because exchange rates move daily. |
| Colliers Philippines Q1 2026 Residential | Colliers is a major professional real estate research firm in Metro Manila. | We used it for supply, vacancy, absorption, and condo-cycle context. We used its market view to separate resilient Manila locations from oversupplied ones. |
| Manila Bulletin on Colliers Q1 2026 | It reports recent Colliers findings for Metro Manila residential recovery. | We used it to cross-check the early 2026 recovery signal. We did not use it alone for price estimates. |
| Global Property Guide Philippines 2026 | It summarizes Philippine residential prices, demand, and mortgage conditions. | We used it as a secondary market check. We compared its national view with Manila-specific evidence before writing local estimates. |
| Bureau of Internal Revenue zonal values | BIR zonal values are official tax-floor valuations for property transfers. | We used them to compare valuation floors across Manila districts. We did not treat zonal values as actual market prices. |
| REN.PH Manila BIR zonal value database | It organizes official BIR zonal schedules by Manila micro-location. | We used it to compare Manila streets and barangays faster. We treated it as a structured view of BIR data, not as an independent valuation source. |
| BIR Documentary Stamp Tax | BIR administers documentary stamp tax on Philippine property transfers. | We used it to verify the DST cost in buyer closing costs. We paired it with Manila transfer tax and LRA registration costs. |
| Land Registration Authority ERCF | LRA is the official registry authority for property title registration. | We used it to estimate title registration costs. We converted the fee schedule into a practical percentage range for condo buyers. |
| City Council of Manila Revenue Code Ordinance No. 7794 | This is the city-level legal source for Manila local taxes. | We used it for Manila transfer-tax and real-property-tax context. We cross-checked national limits before writing buyer-cost estimates. |
| Meralco May 2026 residential rate advisory | Meralco is Manila’s electricity distributor and publishes official tariff advisories. | We used it to estimate monthly electricity bills for Manila condos. We combined the kWh rate with realistic studio, one-bedroom, and two-bedroom usage. |
| GMA News on MWSS and Maynilad 2026 water rates | The article cites MWSS tariff changes for Metro Manila water providers. | We used it to estimate residential water costs in Manila. We checked that Maynilad is the relevant concessionaire for Manila’s West Zone. |
| PLDT Home Fiber plans | PLDT is a major broadband provider with public plan pricing. | We used it for a realistic internet budget. We focused on standard fiber plans, not premium packages. |
| RCBC home-loan page | RCBC is a major Philippine bank with public home-loan information. | We used it to benchmark financing assumptions. We cross-checked it against BSP lending-rate data and 2026 mortgage comparisons. |
| Nook 2026 home-loan rate comparison | It compares current Philippine bank mortgage rates in one place. | We used it as a market check for mortgage affordability. We did not treat it as more authoritative than BSP or bank-published data. |
| Malaya condo fees and legalities report | It explains Metro Manila condo dues and owner-cost issues in plain terms. | We used it to benchmark association dues. We then applied those per-m² fees to common Manila apartment sizes. |
| Listd.ph condo HOA fees guide | It explains how Philippine condo dues are usually calculated per square meter. | We used it to confirm the monthly-dues structure. We adjusted the final range for Manila building age and amenity levels. |
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