Property for Sale – Philippines
More than 7,000 islands make up the Philippines, but the bulk of its fast-growing population lives on just 11 of them.
- Population: 104 million
- Area :300,000 sq km (115,831 sq miles)
- Major languages: Filipino, English (both official)
- Major religion: Christianity
- Life expectancy: 66 years (men), 73 years (women)
- Currency: Philippine peso
RESIDENTIAL PROPERTY FACTS
Price (sq.m): $3,952
Rental Yield: 6.13%
Income Tax: 4.06%
Roundtrip Cost: 8.63%
Cap Gains Tax: 32.00%
Landlord and Tenant Law: Pro-Landlord
Where to buy:
- Manila City
- San Juan City
- Quezon City
- Valenzuela City
- Pasig City
The Philippines’ residential property market has performed spectacularly, due to robust economic growth. During the year to Q1 2016, the nationwide residential real estate price index rose by 9.2% (8% inflation-adjusted), according to the Bangko Sentral ng Pilipinas (BSP), the country’s central bank.
Quarter-on-quarter, the index rose 1.9% (1.9% inflation-adjusted) in Q1 2016. The residential real estate price index, published every quarter, is based on bank reports on residential real estate loans.
By property type:
- Condominium unitssaw y-o-y price increase of 12.9% (11.6% inflation-adjusted) in Q1 2016
- For single detached/attached houseprices rose by 8.1% (6.9% inflation-adjusted) y-o-y in Q1 2016
- For duplex houseprices rose by 6.7% (5.5% inflation-adjusted) y-o-y in Q1 2016
- Townhouseprices rose by 8.5% (7.3% inflation-adjusted) over the same period
In the National Capital Region (NCR), residential property prices surged 9.7% (8.5% inflation-adjusted) during the year to Q1 2016 while in Areas Outside the NCR (AONCR), prices rose by 9.4% (8.2% inflation-adjusted), according to the BSP.
On the other hand, prices of high-end condominium units in Metro Manila’s CBDs rose at a much slower pace.
The average price of a luxury 3-bedroom condominium unit in Makati central business district (CBD) rose by a modest 2.4% (1.23% inflation-adjusted) during the year to Q1 2016 to PHP151,622 (US$3,203) per square metre (sq. m.), according to Colliers International – the lowest y-o-y increase in Makati CBD since Q3 2010. During the latest quarter, condominium prices increased 0.2% (0.2% inflation-adjusted) in Q1 2016.
Price rises also slowed in other major Metro Manila CBDs:
- In Rockwell Center, the average price for a 3-bedroom condominium rose by 5.5% (4.3% inflation-adjusted) to PHP162,500 (US$3,433) per sq.m., or a 0.2% q-o-q growth.
- In Fort Bonifacio, the average price for a 3-bedroom condominium increased by 2.6% (1.4% inflation-adjusted) to PHP150,000 (US$3,169) per sq. m., or a 2.6% q-o-q rise.
Foreigners cannot own land, but can own condominium units or apartments in high-rise buildings as long as the foreign proportion does not exceed 40%. They can also buy a house but not the land on which it is built. Leases on land up to 50 years, renewable for another 25 years, are available.
Last Updated: Oct. 21, 2016
|METRO MANILA –
|COST (US$)||YIELD (p.a.)||PRICE/SQ.M. (US$)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|45 sq. m.||131,310||767||7.01%||2,918||17.04|
|80 sq. m.||268,480||1,602||7.16%||3,356||20.03|
|150 sq. m.||574,650||3,366||7.03%||3,831||22.44|
|EASTWOOD CITY – Condos|
|50 sq. m.||98,850||611||7.41%||1,977||12.21|
|LEGASPI VILLAGE – Condos|
|40 sq. m.||134,360||827||7.38%||3,359||20.67|
|70 sq. m.||239,050||1,521||7.64%||3,415||21.73|
|120 sq. m.||474,240||2,422||6.13%||3,952||20.18|
|ORTIGAS CENTER – Condos|
|50 sq. m.||107,850||801||8.91%||2,157||16.01|
|ROCKWELL CENTER – Condos|
|50 sq. m.||211,800||1,127||6.39%||4,236||22.54|
|120 sq. m.||494,160||2,518||6.11%||4,118||20.98|
|SALCEDO VILLAGE – Condos|
|40 sq. m.||113,760||696||7.35%||2,844||17.41|
|75 sq. m.||203,925||1,103||6.49%||2,719||14.70|
|150 sq. m.||365,550||2,232||7.33%||2,437||14.88|
Eastwood City , Makati CBD, Ortigas CBD, Rockwell, Global City-The Fort
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
Yields in Metro Manila are exceptional, by international standards. The highest-yielding units that we found are 50 square metre units in Ortigas (which have gross rental yields of nearly 9%).
The year before last we found that yields were surprisingly good generally on very large condominiums in Metro Manila (250 square metres), at around 9%
KEY HOUSE PRICE FACTS
|Square Metre Prices||$3,952|