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Oct 21, 2016

Philippines: yields good, though lower than in recent years

Last Updated: Oct. 21, 2016
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
50 sq. m. 98,850 611 7.41% 1,977 12.21
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
50 sq. m. 107,850 801 8.91% 2,157 16.01
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
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
Districts researched
Eastwood City , Makati CBD, Ortigas CBD, Rockwell, Global City-The Fort
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

Yields in Manila remain good, but somewhat lower than during the past few years (when they were excellent). Transaction taxes (known as ‘capital gains taxes´, but not actually such), and (if observed) official income tax rates applicable to non-resident investors, are high.

Buying prices for condominiums are at around US$2,800 to US$3,200, considerably up on previous years. Unusually, yields are not highest on the very smallest units, which suggests that smaller condominiums are oversupplied. The highest-yielding units are 80 square metre units (which have gross rental yields of around 7.7%). Last year we found that yields were surprisingly good on very large condominiums (250 square metres), at around 9%, but this year we were not able to assemble a database of this dimension. This may be an optimal size for investment.


#1 DAN | June 29, 2010

The Philippine market actually has levels of diferent markets.In the condo market, the hot items are the flat condo units selling at 1.3 to 1.8M no evat taxes cause its below the 2.5 range. you go above 2.5 and you will have to pay 12% more. SM development is leading in this segment. The condos are well located and in the city proper. The bi level units are a hit too. 1.5 to 2.4M unfinish units. meaning you will finish the intrior of the condo. These project are all within the city limits making it easy for you to comute arounfd the city in a few minutes or so.

#2 JUN VILLANUEVA | January 02, 2012

P1.8M to P2.5M units is too small but anyways, will see how can I re design the space of 18 to 25 sqms.

#3 YASH | May 26, 2014

May I know who did the rental yield survey of Philippines ???? and for what area or for what projects ?

If is it for Makati CBD or Fort or Rockwell its wrong on all location maximum rental yield is between 5.15% - 6%. Which your website showing is not possible for any part CBD of Metro Manila. Even not possible for any project of any developer. Condos older than 5 years in Makati maximum gross rental is 485 per sqm and after Taxes, Association Dues its around only 341 per sqm. I own condos in all CBDs in Metro manila and all kinds new as well old.

#4 KRISTOF | November 02, 2015

Hi Yash

Can you please elaborate on the above?

Has anything changed since?

I also feel those yields are way too high.

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