Gross rental yields in the Philippines: Manila and Cebu
The average gross rental yield in the Philippines stands at 5.12% (Q1, 2025). Previously, in Q3 2024, the rental yield was 5.36%.
Cities compared
- Manila
- Cebu
Historical rental yields in the Philippines
View the full rental yield dataset (2023 - Present)
| Last Updated: Mar 26, 2025 Next Update: August. 2025 |
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| METRO MANILA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Taguig City | |||
| Studio & 1-Bedroom | $192,196 | $821 | 5.13% |
| 2-Bedroom | $425,978 | $1,572 | 4.43% |
| 3-Bedroom | $889,055 | $2,882 | 3.89% |
| 4+Bedroom | $2,201,527 | $8,736 | 4.76% |
| Manila City | |||
| Studio & 1-Bedroom | $80,730 | $437 | 6.50% |
| 2-Bedroom | $122,307 | $786 | 7.71% |
| 3-Bedroom | $253,350 | $1,354 | 6.41% |
| Mandaluyong City | |||
| Studio & 1-Bedroom | $87,362 | $612 | 8.41% |
| 2-Bedroom | $143,273 | $960 | 8.04% |
| 3-Bedroom | $536,445 | $1,747 | 3.91% |
| Pasig City | |||
| Studio & 1-Bedroom | $131,969 | $612 | 5.56% |
| 2-Bedroom | $223,647 | $1,048 | 5.62% |
| 3-Bedroom | $384,393 | $1,467 | 4.58% |
| 4+Bedroom | $926,039 | $2,271 | 2.94% |
| Quezon City | |||
| Studio & 1-Bedroom | $88,948 | $436 | 5.88% |
| 2-Bedroom | $186,792 | $698 | 4.48% |
| 3-Bedroom | $366,258 | $1,029 | 3.37% |
| Pasay City | |||
| Studio & 1-Bedroom | $108,133 | $436 | 4.84% |
| 2-Bedroom | $191,501 | $872 | 5.46% |
| Paranaque City | |||
| Studio & 1-Bedroom | $80,228 | $401 | 6.00% |
| 2-Bedroom | $108,133 | $610 | 6.77% |
| 3-Bedroom | $514,506 | $1,482 | 3.46% |
| San Juan City | |||
| Studio & 1-Bedroom | $106,343 | $626 | 7.06% |
| 2-Bedroom | $138,801 | $1,133 | 9.80% |
| 3-Bedroom | $502,297 | $1,570 | 3.75% |
| Metro Manila (all locations) | |||
| Studio & 1-Bedroom | $105,677 | $553 | 6.28% |
| 2-Bedroom | $187,697 | $965 | 6.17% |
| 3-Bedroom | $482,304 | $1,672 | 4.16% |
| 4+Bedroom | $976,690 | $3,662 | 4.50% |
| Metro Manila avg. Rental Yields | 5.28% | ||
| CEBU CITY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Cebu City (all locations) | |||
| Studio & 1-Bedroom | $102,029 | $488 | 5.74% |
| 2-Bedroom | $244,172 | $1,046 | 5.14% |
| 3-Bedroom | $442,980 | $1,482 | 4.01% |
| Cebu City (all locations) avg. Rental Yields | 4.96% | ||
| All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you'll really earn) are typically around 1.5% to 2% lower. Source: Global Property Guide and Lamudi |
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Research Methodology:
Our rental yield analysis is conducted biannually to ensure up-to-date insights. We assess 1-bedroom, 2-bedroom, 3-bedroom across the largest cities in the Philippines, comparing median rental prices with median purchase prices to determine gross rental yields.
We source data from a leading local property platform, capturing both asking rents and list prices to reflect current market conditions. The gross rental yield is calculated using the following formula:
(Median Monthly Rent × 12) ÷ Median Purchase Price × 100
For example, if the median monthly rent is $500 and the median purchase price is $100,000, the yield is calculated as:
($500 × 12) ÷ $100,000 = 6% Gross Rental Yield
Note: NET yields vary from country to country, but are usually 1.5-2% lower.