Philippines: rental yields in Manila range from good to excellent

Residential Valuation Specialist | February 09, 2022

Last Updated: Feb. 09, 2022
45 sq. m. 172,722 813 5.65% 3,838 18.06
80 sq. m. 342,226 1,423 4.99% 4,278 17.79
150 sq. m. 811,839 3,026 4.47% 5,412 20.17
40 sq. m. 82,879 350 5.06% 2,072 8.74
75 sq. m. 157,970 747 5.67% 2,106 9.96
50 sq. m. 215,250 968 5.39% 4,305 19.35
120 sq. m. 456,360 1,985 5.22% 3,803 16.54
50 sq. m. 189,400 678 4.29% 3,788 13.55
70 sq. m. 431,006 1,752 4.88% 3,592 14.60
50 sq. m. 274,325 966 4.23% 5,487 19.32
120 sq. m. 663,146 2,284 4.14% 5,526 19.06
50 sq. m. 189,950 779 4.92% 3,799 15.57
150 sq. m. 485,400 1,992 4.92% 3,236 13.28
200 sq. m. 721,200 2,316 3.85% 3,606 11.58
Districts researched
Bonifacio Global City (Taguig, Metro Manila), Legazpi Village, Salcedo Village and Rockwell Centre (Makati City, Metro Manila), Ortigas Centre (Pasig, Metro Manila), Eastwood (Quezon City)
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

The demand for property prices in the Philippines hampered. Thus, condominium property prices dropped off. Records have shown that these prices declined due to Covid-19 impact.

Makati City, as the country´s financial center offers a great and modest properties. If you are planning to buy a property, Makati is one of the best neighborhoods. Legazpi Village, Salcedo Village, Rockwell Centre, name it. This city is one of the most urban areas in the Philippines.

Bonifacio Global City is also one good place to live. In this area, condominium prices are from US $3,838 to US $ 5,412. For a 45 square meter unit you can get a rental yield of 5.65% and 4.47% for a 150 square meter unit. Not bad!


Compared to other neighboring districts, condominium prices in Rockwell, Makati are still expensive. It ranges from US $5,487 to $ to US $5,526 per square metre. For some neighboring districts like in Legazpi Village, Makati condominium prices are cheaper. It ranges from US $3,803 to US $4,305. And what´s interesting is that you can buy a larger size condominium much cheaper than a small one.

Round trip transaction costs are high for foreign buyers in Philippines (though the surcharge is unlikely to be permanent). See our Property transaction costs analysis for Philippines and Property transaction costs in Philippines, compared to the rest of Asia.


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.

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.

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.

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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