Get all the data you need about the real estate market in Manila
This blog post covers apartment purchase prices in Manila as of 2026, and we update it regularly so the numbers stay relevant.
Whether you are comparing neighborhoods for the first time or narrowing down your shortlist, you will find all the key figures here.
Prices in Manila can vary enormously from one neighborhood to the next, so this guide is designed to give you a clear, honest picture before you make any decisions.
And if you're planning to buy a property in Manila, you may want to download our real estate pack about Manila.
A quick summary table
| Metric | Value |
|---|---|
| Most expensive Manila neighborhood for apartment buying | Rockwell (Makati) |
| Most affordable Manila neighborhood for apartment buying | Socorro (Cubao / Araneta area, Quezon City) |
| Average price per square meter across all Manila neighborhoods | PHP 212,000 |
| Median apartment price across Manila | PHP 12,500,000 |
| Lowest realistic starting budget to buy a Manila apartment | PHP 2,500,000 (Socorro) |
| Most expensive Manila apartment type by bedroom count | Two-bedroom apartments |
| Most affordable Manila apartment type by bedroom count | Studio apartments |
| Average price for a studio apartment in Manila | PHP 4,900,000 |
| Average price for a one-bedroom apartment in Manila | PHP 8,100,000 |
| Average price for a two-bedroom apartment in Manila | PHP 13,200,000 |
| Price gap between the most and least expensive Manila neighborhoods | PHP 200,000 per sqm (Rockwell vs. Socorro) |
| Price spread across Manila apartment neighborhoods in 2026 | From PHP 125,000 to PHP 325,000 per sqm |
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Manila neighborhoods in 2026 ranked by apartment purchase price
This table ranks the top neighborhoods in the Manila apartment market by purchase price, from the most expensive to the most affordable.
For each neighborhood, the table includes the average price per square meter, the median property price, the starting budget, the average price for a studio apartment, a one-bedroom apartment, and a two-bedroom apartment, the typical buyer profile, the key advantages, the key drawbacks, and the market segment.
Finally, please note you'll find much more detailed data in our real estate pack about Manila.
| Rank | Neighborhood | Average Price per Square Meter | Median Property Price | Starting Budget | Average Price for a Studio Apartment | Average Price for a One-Bedroom Apartment | Average Price for a Two-Bedroom Apartment | Typical Buyers | Key Pros | Key Cons | Market Segment |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Rockwell (Makati) | PHP 325,000 | PHP 34,400,000 | PHP 6,300,000 | PHP 7,800,000 | PHP 13,000,000 | PHP 21,200,000 | High-income end-users looking for a luxury Makati address | Walkable luxury estate with strong brand prestige, polished retail, and consistently premium residential positioning | Very high total ticket sizes, limited true starter units, and expensive association dues and parking | Luxury |
| 2 | Greenhills (San Juan) | PHP 274,000 | PHP 27,900,000 | PHP 4,700,000 | PHP 6,600,000 | PHP 11,000,000 | PHP 17,800,000 | Affluent upgrader families seeking a prestigious address | Prestigious location near shopping, schools, and future MRT-4-led accessibility improvements | Large-unit bias keeps cash requirements high, and luxury towers dominate the visible supply | Luxury |
| 3 | Bay Area (MOA belt, Pasay) | PHP 274,000 | PHP 14,900,000 | PHP 6,000,000 | PHP 6,600,000 | PHP 11,000,000 | PHP 17,800,000 | Investor-landlord buyers targeting airport and leisure-driven rental demand | Strong airport, leisure, office, and short-stay demand near MOA and Manila Bay | Traffic, reclaimed-area density, and mixed tower quality make project selection very important | Premium |
| 4 | BGC (Bonifacio Global City, Taguig) | PHP 272,000 | PHP 18,100,000 | PHP 5,200,000 | PHP 6,500,000 | PHP 10,900,000 | PHP 17,700,000 | Global-city professionals and expats living near Taguig's central business district | Best-in-class walkability, office access, and deep condo stock for central business-district living | Price premium is steep, and high competing tower supply reduces scarcity compared with Rockwell | Luxury |
| 5 | Wack-Wack Greenhills (Mandaluyong) | PHP 245,000 | PHP 22,300,000 | PHP 4,500,000 | PHP 5,900,000 | PHP 9,800,000 | PHP 16,000,000 | Executive upgrader households seeking quiet high-rise living near Ortigas | Quiet residential environment near golf-course views, Ortigas access, and larger family-oriented layouts | Many units are large, so total cash outlay stays high even below BGC pricing | Premium |
| 6 | Bel-Air / Salcedo (Makati) | PHP 242,000 | PHP 12,500,000 | PHP 4,300,000 | PHP 5,800,000 | PHP 9,700,000 | PHP 15,800,000 | Central-location professionals wanting Makati CBD access | Strong Makati CBD access with mature streets, parks, and well-known village branding | Older building mix is common, and quality varies more than in newer master-planned districts | Premium |
| 7 | Kapitolyo (Pasig) | PHP 190,000 | PHP 8,100,000 | PHP 3,700,000 | PHP 4,600,000 | PHP 7,600,000 | PHP 12,400,000 | Young urban upgraders balancing Pasig access and manageable apartment budgets | Good balance of Pasig access, vibrant dining scene, and more manageable apartment entry budgets | Less prestige than prime CBDs, with a more uneven street environment and traffic bottlenecks | Mid-Market |
| 8 | Alabang (Muntinlupa) | PHP 165,000 | PHP 8,000,000 | PHP 3,700,000 | PHP 4,000,000 | PHP 6,600,000 | PHP 10,700,000 | Southern Metro Manila family buyers prioritizing a greener setting | Greener setting, established schools, and strong appeal for buyers wanting south-of-metro convenience | CBD commutes are long, and apartment demand is less liquid than central Manila districts | Mid-Market |
| 9 | South Triangle (Quezon City) | PHP 159,000 | PHP 4,600,000 | PHP 3,100,000 | PHP 3,800,000 | PHP 6,300,000 | PHP 10,300,000 | Central Quezon City professionals looking for convenient urban access | Excellent restaurant belt access and good central Quezon City positioning near major roads | Noise, traffic, and mixed micro-locations mean building selection matters a great deal | Mid-Market |
| 10 | Malate (City of Manila) | PHP 146,000 | PHP 4,400,000 | PHP 2,800,000 | PHP 3,500,000 | PHP 5,800,000 | PHP 9,500,000 | Student-rental investors targeting Manila's university and hospital belt | Strong university and hospital catchment with resilient rental demand for smaller units | Older building stock, heavier street congestion, and patchier building quality than newer districts | Affordable |
| 11 | Santa Mesa (City of Manila) | PHP 131,000 | PHP 3,600,000 | PHP 2,600,000 | PHP 3,100,000 | PHP 5,200,000 | PHP 8,500,000 | First-time urban buyers looking for one of Manila's most accessible apartment entry points | One of Metro Manila's more accessible apartment entry points, with practical transport and school access | Less prestige, more compact units, and weaker premium upside than central CBD locations | Affordable |
| 12 | Socorro (Cubao / Araneta, Quezon City) | PHP 126,000 | PHP 4,600,000 | PHP 2,500,000 | PHP 3,000,000 | PHP 5,000,000 | PHP 8,200,000 | Budget-conscious commuters benefiting from Cubao's major rail and transport hub | Major rail, mall, and transport access keeps everyday convenience very strong | Busy urban setting, older surrounding fabric, and lower-end feel than top-tier Manila districts | Budget |
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Key insights about apartment purchase prices in Manila
Insights
- Rockwell apartments in Makati cost about 2.6 times more per square meter than Socorro apartments in Quezon City, which means the same budget buys you dramatically different things depending on which part of Metro Manila you search.
- There is a sharp pricing cliff between rank 6 and rank 7 in the Manila apartment market: moving from Bel-Air to Kapitolyo drops the price per square meter by roughly PHP 52,000, one of the biggest single steps in the entire ranking.
- A two-bedroom Manila apartment in Kapitolyo costs about PHP 12.4 million on average, compared to PHP 15.8 million in Bel-Air. That is a PHP 3.4 million gap for what is essentially the same unit type, just a few kilometers apart.
- Greenhills and the Bay Area are almost tied on price per square meter (both near PHP 274,000), but their buyer profiles are very different: Greenhills attracts affluent families while the Bay Area draws investor-landlords focused on rental income.
- BGC and the Bay Area look close on per-sqm pricing, but BGC's median apartment ticket is notably higher (PHP 18.1 million vs. PHP 14.9 million), because BGC units tend to be larger and better positioned for owner-occupation.
- The top six Manila apartment neighborhoods all price above PHP 240,000 per square meter. Below that level, you enter a different market with meaningfully different buyer profiles and resale dynamics.
- Colliers' Q4 2025 data shows there were still around 79,200 unsold Metro Manila condo units at the end of 2025, which means buyers in markets like Cubao, the Bay Area, Pasig, and Alabang may still find room to negotiate on price.
- Santa Mesa and Socorro are the only neighborhoods in this ranking where a one-bedroom Manila apartment averages near PHP 5 million, making them the clearest true entry points for budget-conscious buyers who want to stay within Metro Manila.
- Wack-Wack Greenhills sits below BGC on price per square meter, but its median apartment ticket is still PHP 22.3 million because its units skew larger. Buyers who compare it to BGC purely on sqm rate can underestimate their actual cash commitment.
- For buyers targeting compact studio units in Manila, Malate remains cheaper than South Triangle by about PHP 13,000 per square meter, which adds up to roughly PHP 300,000 on a typical 24 sqm studio.
- Kapitolyo is one of the clearest step-up markets in Manila: at PHP 190,000 per square meter, it is well below the premium band but not truly budget, making it a natural landing spot for buyers who have outgrown entry-level neighborhoods but cannot yet stretch to BGC or Bel-Air.
- BSP residential lending data from Q3 2025 showed improving condominium loan activity even as overall Manila condo supply remained heavy, suggesting that demand-side fundamentals were firming heading into 2026.
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About our methodology
This analysis focuses specifically on apartment purchase prices in Metro Manila neighborhoods as of April 2026. We believe it is important to show our reasoning, and that transparency is one of the ways we keep our work solid and rigorous, just as you will see in our real estate pack about Manila.
First, please note that this data is updated regularly, so what you see here reflects the current values as of today.
In order to get reliable Manila apartment price data, we applied a strict source filter. We only used authoritative, verifiable sources, not random listings or unsupported figures. More on that point below.
For each Manila neighborhood, we aggregated the freshest apartment purchase price data available. When possible, we cross-checked multiple sources to confirm the same price range for each area.
This allowed us to estimate the average price per square meter and the median property price for each Manila apartment neighborhood.
We also calculated the starting budget, which represents the lowest realistic entry point to buy an apartment in that neighborhood. This is not the cheapest possible listing ever found, but a real, achievable floor for a standard apartment purchase in that area.
For each apartment category, we estimated an average purchase price based on consistent size assumptions across Manila: a studio at 24 sqm, a one-bedroom at 40 sqm, and a two-bedroom at 65 sqm. These are applied consistently to allow fair comparison across neighborhoods.
These estimates were not applied as one flat number across Metro Manila. They were adjusted by neighborhood and apartment type to better reflect local Manila market conditions and price levels.
This table should therefore be read as a structured market estimate, not as an exact guarantee of transaction prices. Honesty, quality, and rigor are at the core of our work, and they are also what you will find in our real estate pack about 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 real estate pack about Manila, we rely on verifiable sources and a transparent methodology.
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 is reliable | How we used it |
|---|---|---|
| BSP Residential Property Price Index (RPPI) landing page | It is the Bangko Sentral ng Pilipinas' official housing price methodology page, maintained by the Philippine central bank. | We used it to verify what the RPPI measures and how it is constructed. We also used it as the methodological anchor for understanding the broader Manila apartment market context. |
| BSP RPPI Q3 2025 Report | It is an official BSP statistical release containing current Metro Manila housing price and lending data through Q3 2025. | We used it to confirm the latest official condominium price and lending direction before April 2026. We also used it to frame demand, affordability, and buyer sentiment across NCR and nearby markets. |
| Colliers Residential Q4 2025 Philippines Report | Colliers is a major global property consultancy with established market-reporting methods and a strong Philippines research team. | We used it to understand Metro Manila condo absorption, unsold inventory levels, and where buyer negotiating leverage is strongest. We also used it to explain why some Manila apartment submarkets are more buyer-friendly than headline prices suggest. |
| Dot Property: Rockwell, Makati | It is a large, active Philippine property portal with neighborhood-level condo market snapshots and live listing data. | We used it for Rockwell apartment pricing benchmarks and median list-price data. We also cross-checked it against individual listed units to validate the neighborhood average. |
| Dot Property: BGC, Taguig | It provides a dense sample of live BGC condo listings, making it one of the most data-rich public sources for that submarket. | We used it to benchmark BGC apartment pricing and median unit values. We also used it because BGC is one of the most searched apartment locations in Metro Manila. |
| Dot Property: Greenhills, San Juan | It is one of the clearest neighborhood-specific condo datasets publicly available for the Greenhills area. | We used it to benchmark Greenhills apartment pricing and ticket sizes. We also used it because Greenhills is a major practical apartment search zone in Metro Manila. |
| Dot Property: Bel-Air, Makati | It provides neighborhood-level Makati condo pricing that separates the Salcedo/Bel-Air area from Rockwell and other Makati zones. | We used it as the best public proxy for the Salcedo/Bel-Air segment of Makati's apartment market. We also used it to distinguish this area from both Rockwell and BGC in our pricing comparison. |
| Dot Property: Kapitolyo, Pasig | It provides a focused condo snapshot for one of Pasig's most active residential pockets, with enough listing depth to benchmark prices reliably. | We used it to benchmark Kapitolyo as a mid-market Manila apartment buying zone. We also used it because Kapitolyo is a useful bridge market between the premium and more accessible parts of Metro Manila. |
| Dot Property: Barangay 76, Pasay (Bay Area) | It captures the dense Bay Area and MOA-side condo belt more accurately than a broad Pasay city average would. | We used it as the Manila Bay Area apartment proxy because listing concentration is strongest in this barangay. We also used it to reflect the MOA, leisure, and airport-driven dynamics of that submarket. |
| Dot Property: Socorro, Quezon City (Cubao) | It provides live listing data for the Cubao and Araneta corridor, one of the most transit-connected budget apartment zones in Metro Manila. | We used it to benchmark Socorro as a budget-friendly Manila apartment buying area. We also used it because major rail and mall access makes it a consistently relevant option for cost-conscious buyers. |
| Dot Property: Malate, City of Manila | It gives neighborhood-level condo pricing inside the City of Manila proper, separate from the newer Makati or Taguig districts. | We used it to benchmark Malate as a classic university and bay-side apartment market. We also used it because Malate remains one of the most recognizable affordable apartment zones in old Manila. |
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