Is buying a property in Rockwell Center a good investment?

Last updated on December 20, 2023

Yes, the analysis of Manila's property market is included in our pack

If you've marveled at the upscale shops and luxurious living in Rockwell Center, you may have envisioned calling this chic Manila precinct your elegant and sophisticated urban residence.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for the Philippines, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Rockwell Center?

Rockwell Center in Manila stands out as a coveted location for property buyers, and there are several reasons why it's become such a hotspot.

First off, let's talk about its unique attributes. Unlike many other real estate markets in Manila, Rockwell Center offers a blend of luxury and convenience that's hard to match.

It's like a city within a city, boasting high-end malls, a variety of dining options, and top-notch residential buildings. This self-contained environment provides a level of comfort and exclusivity that you might not find in other areas.

Now, when comparing Rockwell Center to other parts of Manila, it's important to consider its strategic location. Situated near key business districts like Makati and Bonifacio Global City, it's a prime spot for professionals.

But, it's not just about the location; the area also has a certain charm and aesthetic that sets it apart. Think tree-lined streets, modern architecture, and a general sense of order and cleanliness that can be a refreshing contrast to the hustle and bustle of other parts of the city.

The popularity of Rockwell Center really picked up in the late 1990s and early 2000s. It transformed from an old power plant area into this upscale, vibrant community. And it looks like this hype isn't just a passing phase.

The continuous development and upkeep of the area suggest that its appeal is here to stay. Facts like increasing property values and sustained interest from both local and international buyers back up this claim.

Primarily, it appeals to a mix of affluent professionals, expatriates, and families looking for a blend of luxury and convenience. Its safe, well-maintained environment, coupled with access to high-quality amenities, makes it a top choice for those who can afford the premium price tag.

However, it's not all perfect. Rockwell Center does have its downsides. For one, the cost of living and property prices are quite high, making it inaccessible to a broader demographic.

This exclusivity can also create a bit of a bubble, disconnecting residents from the more diverse cultural experiences that other parts of Manila offer. Traffic congestion, particularly during peak hours, can be another challenge, despite its central location.

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Why is Rockwell Center a nice place to live?

Rockwell Center is a sought-after place to live, and there are several aspects that contribute to its charm and desirability.

The lifestyle and culture in Rockwell Center set it apart. It's like an oasis in the middle of a bustling city, where modernity meets comfort. The area is known for its upscale, cosmopolitan vibe, with a focus on quality and luxury.

Living in Rockwell Center means having access to a range of high-end shops, gourmet restaurants, and trendy cafes, all nestled in a well-planned and aesthetically pleasing environment.

The expat community in Rockwell Center is quite vibrant. Thanks to its upscale amenities and central location, many expatriates find it an ideal place to settle. This diversity brings a unique cultural blend to the area, making it a melting pot of global influences.

Whether it's international cuisine or cultural events, there's always something that caters to the eclectic tastes of its diverse residents.

Living in Rockwell Center does come with a higher price tag. The cost of living here is among the highest in Manila, reflecting the premium amenities and services available. From high-end condominiums to exclusive shopping and dining options, the costs are geared towards those who prioritize luxury and convenience.

Safety is a key feature that attracts residents to Rockwell Center. The area is known for its well-maintained streets, efficient security measures, and overall sense of order.

It's a place where residents feel safe walking around, even during the evening, which is a significant advantage in a large city like Manila.

The availability of amenities and facilities in Rockwell Center is top-notch. For shopping and leisure, places like Power Plant Mall offer a range of retail and entertainment options.

When it comes to healthcare, the nearby Makati Medical Center is known for its excellent services. For families, prestigious schools like Ateneo Professional Schools and the University of Makati are easily accessible.

The quality of infrastructure in Rockwell Center is commendable. The roads are well-maintained, utilities are reliable, and internet connectivity is generally strong, catering to both residential and business needs. This makes it an ideal location for professionals who need a steady and dependable environment for work and leisure.

Access to Rockwell Center from other parts of Manila and major transport hubs like airports is relatively convenient. While Manila's traffic can be challenging, the area's central location means it's well-connected to major roads and highways.

Public transportation options are available, including buses and the MRT, although many residents prefer private vehicles or taxis for comfort and ease.

How much does it cost to buy real estate in Rockwell Center?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in the Philippines.

Buying a property in Rockwell Center is an investment that comes with a certain prestige, and understandably, a significant price tag.

The types of residential properties available here primarily include high-rise apartments, luxury condominiums, and a few exclusive townhouses. You won't typically find single-family houses or sprawling villas in this urban enclave, as the area is known for its modern, vertical living spaces.

In Rockwell Center, luxury condominiums are particularly in high demand. This preference is due to a few reasons.

Firstly, these properties offer a blend of convenience, security, and upscale amenities - aspects highly valued in this neighborhood.

Secondly, given the urban setting, high-rise living maximizes the use of space while providing residents with spectacular city views, a feature much sought after in this area.

Regarding the market dynamics, Rockwell Center has a mix of both new developments and resale properties. The area has seen continuous development, with new, state-of-the-art residential buildings emerging alongside well-maintained older structures. This mix offers a range of choices for buyers, from brand-new, contemporary units to those with a more established character.

Speaking of prices, the cost of properties in Rockwell Center is among the highest in Manila. Prices per square meter can vary widely, but it's not uncommon to see figures ranging from PHP 200,000 to PHP 300,000 per square meter.

Of course, this depends on factors such as the exact location within Rockwell, the age of the property, and the level of luxury and amenities it offers.

Over recent years, property values in Rockwell Center have shown a steady increase. This trend is driven by the area's continuous development, its reputation as a prestigious and safe neighborhood, and the consistent demand for high-end living spaces.

Moreover, any upcoming developments or city planning changes, like the expansion of commercial areas or the addition of new lifestyle amenities, are likely to further enhance the appeal of Rockwell Center, potentially impacting property values positively.

Looking into the future, predictions for the real estate market in Rockwell Center remain optimistic. Given the area's ongoing development, its status as a desirable location, and the general upward trend in Manila's property market, it's reasonable to expect that property values in Rockwell Center will continue to rise.

This expectation is bolstered by specific factors such as the area's limited land for new developments, which adds an element of exclusivity, and the consistent upgrading of amenities and infrastructure within the community.

Where is the best area to buy a property in Rockwell Center?

When considering the best area to buy a property in Rockwell Center, it's essential to understand that this upscale neighborhood has its unique characteristics in different parts.

The atmosphere, property types, and prices can vary, making certain areas more appealing depending on what you're looking for.

Firstly, the heart of Rockwell Center is known for its vibrant and sophisticated atmosphere. This area is dominated by high-rise luxury condominiums, offering stunning city views and a range of amenities like swimming pools, gyms, and exclusive retail outlets.

The properties here, including notable ones like The Proscenium, are on the higher end of the price spectrum, reflecting their luxury status and the comprehensive amenities they offer.

Moving away from the central cluster, the atmosphere becomes slightly more subdued, offering a bit more privacy while still retaining the upscale feel of the area.

These parts of Rockwell Center typically feature older, but still luxurious, condominium developments. The prices here can be slightly more accessible, though still reflective of the area's overall prestige.

For buyers looking for up-and-coming areas within Rockwell Center, it's worth keeping an eye on the edges of the neighborhood. These areas might be undergoing newer developments, potentially offering modern amenities at slightly more competitive prices.

These properties can be attractive to those who value both the status of a Rockwell Center address and the potential for value appreciation as these newer areas develop further.

If you're actively looking for a property in Rockwell Center, areas like the vicinity of Power Plant Mall are highly recommended. This area is not just a shopping destination but also a hub for dining and entertainment, making it a desirable location for those who appreciate convenience and an active urban lifestyle.

Additionally, properties closer to the mall often command higher resale values due to their prime location.

On the contrary, areas on the periphery of Rockwell Center might not be as advisable for those seeking the full Rockwell experience. While these areas might offer lower prices, they may also lack the same level of access to amenities and the distinctive atmosphere of the neighborhood's core.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for the Philippines.

Area	Atmosphere	Property Types	Price Range	Recommendation
Central Rockwell Center	Vibrant and Sophisticated	High-rise Luxury Condominiums	High	Best for luxury living
Outer Central Rockwell	Subdued, More Private	Older Luxury Condominiums	Moderately High	Good for privacy and value
Edges of Rockwell Center	Developing	Newer Developments	Competitive	Great for potential growth
Near Power Plant Mall	Convenient, Urban Lifestyle	Varied	High	Ideal for convenience seekers
Periphery of Rockwell Center	Lesser Rockwell Experience	Varied	Lower	Less advisable for full experience

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Is there a strong rental demand in Rockwell Center?

Rockwell Center is indeed experiencing a strong rental demand, and this is shaped by several factors including the types of rentals, the target demographic, and the specific properties in demand.

Focusing first on the nature of the rental demand, it leans more towards long-term rentals. This trend is primarily due to the type of residents attracted to Rockwell Center. The area is a hub for professionals, both local and expatriate, who often seek stable, long-term living arrangements close to their workplaces.

The presence of multinational corporations and embassies in and around Rockwell Center significantly contributes to this demand.

The target demographic for rentals in Rockwell Center is quite specific. It includes expatriates working in the corporate sector, affluent professionals, and families who value the convenience, safety, and luxury that this neighborhood offers.

These potential tenants are typically looking for modern, well-maintained properties that offer a sense of exclusivity and comfort. High-rise luxury condominiums, particularly those with 2 or 3 bedrooms, are especially sought after by this group.

In terms of specific areas within Rockwell Center, properties closer to key amenities like Power Plant Mall, or those in the central parts of Rockwell Center, are in high demand. The proximity to shopping, dining, and entertainment options is a significant draw for potential tenants.

Amenities play a crucial role in reducing vacancy in rental properties. Features such as swimming pools, fitness centers, secure parking, and reliable security services are highly valued.

Additionally, units with modern finishes, high-speed internet connectivity, and efficient layouts are more likely to attract and retain tenants. These amenities not only enhance the living experience but also provide a competitive edge in a market where tenants have multiple options.

Regarding the potential returns on investment, properties in Rockwell Center can offer attractive yields, especially given the high rental demand. Estimations of rental yields typically range between 4% to 6% annually, depending on the specific property and its amenities.

It's worth noting that well-maintained properties in prime locations within the neighborhood can command higher rents, thus potentially increasing the return on investment.

In terms of future trends, properties that cater to the evolving needs of tenants are gaining more demand. This includes units with adaptable spaces that can serve as home offices, properties with eco-friendly features, and those within developments that offer a strong sense of community.

These types of properties not only meet the current market trends but are also likely to offer better yields in the future as they align with the changing lifestyles and preferences of potential tenants.

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Is it easy to buy a property as foreigner in Rockwell Center?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in the Philippines.

Buying a property as a foreigner in Rockwell Center, Manila, is feasible, but it comes with specific regulations and considerations that are important to understand.

Firstly, foreign buyers face certain restrictions when purchasing property in the Philippines, including Rockwell Center. The most notable regulation is that foreigners cannot own land in the Philippines.

However, they can legally own condominium units, as long as foreign ownership in a single condominium project does not exceed 40%. This makes high-rise condominiums in Rockwell Center a popular choice among foreign investors.

The purchasing process in Rockwell Center for foreigners is similar to that for locals, but with additional legal scrutiny. It typically involves selecting a property, making a reservation, and then proceeding with the payment of the down payment and subsequent installments, as per the agreement.

There are primary risks associated with property investment in Rockwell Center that foreign buyers should be aware of. Market fluctuations can affect property values, and there's also the risk of changes in regulatory policies that could impact foreign ownership rights.

A classic pitfall in the Philippines, and specifically in areas like Rockwell Center, is the potential for misunderstandings or miscommunications regarding property titles and ownership rights.

It's not uncommon for properties to have complex ownership histories, which can lead to legal complications. Ensuring that the property has a clean title and no outstanding legal issues is paramount.

Working with a local real estate agent or lawyer is highly advisable for foreign buyers. A knowledgeable local agent can provide valuable insights into the market and help navigate the specific nuances of buying property in Rockwell Center.

A lawyer, on the other hand, is essential for ensuring that all legal aspects of the purchase are correctly handled and that the buyer's interests are protected.

As for exit strategies, common approaches include renting out the property for a steady income stream or reselling the property at a higher value in the future. The rental market in Rockwell Center is robust, which makes leasing out a viable option.

For resale, keeping an eye on market trends and selling when the property value has appreciated significantly is a typical strategy.