The average gross rental yield in Philippines stands at 5.21% (Q2, 2023).

		Last Updated: July 12, 2023
METRO MANILA - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Taguig City
Studio & 1-Bedroom	$182,982	$732	4.80%
2-Bedroom	$384,261	$1,555	4.86%
3-Bedroom	$695,330	$2,745	4.74%
4+Bedroom	$2,744,724	$3,660	1.60%
Manila City
Studio & 1-Bedroom	$88,164	$366	4.98%
2-Bedroom	$129,601	$640	5.93%
3-Bedroom	$274,472	$1,455	6.36%
Mandaluyong City
Studio & 1-Bedroom	$86,790	$384	5.31%
2-Bedroom	$146,389	$823	6.75%
3-Bedroom	$319,016	$1,189	4.47%
Pasig City
Studio & 1-Bedroom	$128,087	$494	4.63%
2-Bedroom	$164,683	$769	5.60%
3-Bedroom	$365,963	$1,372	4.50%
4+Bedroom	$512,348	$2,196	5.14%
Quezon City
Studio & 1-Bedroom	$82,342	$329	4.79%
2-Bedroom	$133,577	$640	5.75%
3-Bedroom	$224,152	$915	4.90%
Pasay City
Studio & 1-Bedroom	$128,087	$467	4.38%
2-Bedroom	$219,458	$823	4.50%
3-Bedroom	$428,543	$1,830	5.12%
Paranaque City
Studio & 1-Bedroom	$81,584	$366	5.38%
2-Bedroom	$103,385	$549	6.37%
3-Bedroom	$233,302	$1,830	9.41%
San Juan City
Studio & 1-Bedroom	$99,637	$549	6.61%
2-Bedroom	$133,577	$1,098	9.86%
3-Bedroom	$439,156	$1,464	4.00%
Metro Manila avg. Rental Yields			5.41%
CEBU CITY - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Cebu City (all locations)
Studio & 1-Bedroom	$91,491	$457	5.99%
2-Bedroom	$205,412	$915	5.35%
3-Bedroom	$475,752	$1,464	3.69%
Cebu City (all locations) avg. Rental Yields			5.01%
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

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the two largest cities of Philippines. We used the Lamudi website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).