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Property Prices in Makati, Philippines

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Index Info
Price to Income Ratio: 21.46
Mortgage as Percentange of Income: 207.03%
Loan Affordability Index: 0.48
Price to Rent Ratio - City Centre: 14.15
Price to Rent Ratio - Outside of Centre: 36.85
Gross Rental Yield (City Centre): 7.07%
Gross Rental Yield (Outside of Centre): 2.71%

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Rent Per Month [Edit] Avg.
Range
Apartment (1 bedroom) in City Centre 32,555.56 ₱
20,000.00
45,000.00
Apartment (1 bedroom) Outside of Centre 10,333.33 ₱
7,000.00
15,000.00
Apartment (3 bedrooms) in City Centre 114,000.00 ₱
70,000.00
140,000.00
Apartment (3 bedrooms) Outside of Centre 26,666.67 ₱
15,000.00
35,000.00
Buy Apartment Price [Edit] Avg.
Price per Square Feet to Buy Apartment in City Centre 13,309.05 ₱
11,148.27
15,793.39
Price per Square Feet to Buy Apartment Outside of Centre 9,224.30 ₱
8,361.20
9,982.51
Salaries And Financing [Edit] Avg.
Average Monthly Disposable Salary (After Tax) 28,250.00 ₱
20,000.00
39,000.00
Mortgage Interest Rate in Percentages (%), Yearly 7.47
6.88
8.00

These data are based on 482 entries in the past 18 months from 73 different contributors.

Last update: July, 2015

country data (source CIA, 2013)
GDP Per Capita ($) : 4,700.00
GDP Growth Rate: 6.80%
Population Growth Rate: 1.81%
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5 Comments so far

#Garry on May 23, 2015 :
I agree with you George...I have gotten similar quotes...what I have found about the Makati market is that it is much much cheaper to rent and some developers will tell you that you can purchase the condo..and then rent it out to your hearts content...but only later to find out that the developer wants 50% of the monthly rental fees...hence the reason many owners will rent you their property but request you say you are a friend of the family. This is so they do not have to give the misleading developers half the monthly rental. Also...the market it Makati seems to be the opposite of most industrialized countries...where for instance...if you were to buy a condo and the payment was 1,000 US per month...you would obviously rent it out for more than $1,000 US so you can make a profit. Here in Makati...if your payment is $1,000 US per month....your neighbor is renting theirs out theirs for $650...and so is the is your other neighbor...hence very difficult to make money. Just seems more practical and more economic to rent the neighbors out for $650 than to make an investment in a property that you can not make rental profit off if you wanted to. This is a weird market. Just a thought...and something to check into before buying...even if you are paying cash...you would still want to rent it out for above what you would have to pay if you had to make payments....otherwise...where is the investment?
#juancho on Oct 27, 2014 :
The fair market value of property in terms of price per sqm in Manila, Philippines are subject to multiple variables. 1. Location (Fire station, police station, schools, hospitals and malls nearby) 2. amenities of the development (Ex: balcony "is it usable or just enough space for the condensing unit of the a/c", gym, pool, kiddie pool, basketball court, etc...) 3. condition of the unit with regard to wear and tear. 4. is the unit fully furnished or just finished. Fully furnished means you only have to move in... A finished unit means that no furnishings and appliances are inclusive. These are... Flooring (tiled or wood planks), walls (painted w/ base coats and finsihing coats), modular kitchen (above and below), fixtures (faucets, sinks and toilets).
#winston on Jul 09, 2014 :
I think the price here is undervalued. I checked some condominium outside the makati cbd and it is priced at 105k per sqm. From unknown developer. I think the data presented here is misleading and under valued.
#jess on Jan 03, 2014 :
The price of per sqm in makati outside the center is expensive too. I scouted low rise condo with not familiar developer and they priced me at 100,000 pesos per sqm the minimum ( depends on where your room faces and how many windows you want). The makati property is not beyond reach of average middle earners if you have intention to buy.
#George on Dec 08, 2012 :
I think the price per sq meter for condominiums is under estimated here. When I inquired last time (August 2012)I was quoted prices like 6 million PHP for studio of 36 sq meters or 9.8 million PHP for 1 bedroom condominium of 60 sq meters in center of makati and walking distance to Greenbelt. In both cases that will be well over 100 000.00PHP/sq meter.

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