Gross rental yields in Philippines: Manila and Cebu
The average gross rental yield in the Philippines stands at 5.36% (Q3, 2024). Previously, in Q1 2024 the rental yield was 5.19%.
Cities compared
- Manila
- Cebu
Historical rental yields in the Philippines
View the full rental yield dataset (2023 - Present)
| Last Updated: Jul. 30, 2024 | |||
| METRO MANILA - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Taguig City | |||
| Studio & 1-Bedroom | $197,258 | $772 | 4.70% |
| 2-Bedroom | $428,823 | $1,544 | 4.32% |
| 3-Bedroom | $766,736 | $2,572 | 4.03% |
| 4+Bedroom | $2,401,413 | $6,861 | 3.43% |
| Manila City | |||
| Studio & 1-Bedroom | $82,645 | $381 | 5.53% |
| 2-Bedroom | $137,223 | $858 | 7.50% |
| 3-Bedroom | $231,564 | $1,372 | 7.11% |
| Mandaluyong City | |||
| Studio & 1-Bedroom | $87,480 | $600 | 8.23% |
| 2-Bedroom | $154,376 | $890 | 6.92% |
| 3-Bedroom | $428,823 | $2,572 | 7.20% |
| Pasig City | |||
| Studio & 1-Bedroom | $168,098 | $600 | 4.28% |
| 2-Bedroom | $238,426 | $943 | 4.75% |
| 3-Bedroom | $377,364 | $1,424 | 4.53% |
| 4+Bedroom | $596,542 | $2,058 | 4.14% |
| Quezon City | |||
| Studio & 1-Bedroom | $83,363 | $394 | 5.67% |
| 2-Bedroom | $161,932 | $635 | 4.71% |
| 3-Bedroom | $400,535 | $943 | 2.83% |
| Pasay City | |||
| Studio & 1-Bedroom | $111,494 | $515 | 5.54% |
| 2-Bedroom | $214,411 | $858 | 4.80% |
| Paranaque City | |||
| Studio & 1-Bedroom | $82,334 | $429 | 6.25% |
| 2-Bedroom | $110,636 | $600 | 6.51% |
| 3-Bedroom | $443,145 | $1,544 | 4.18% |
| San Juan City | |||
| Studio & 1-Bedroom | $120,070 | $600 | 6.00% |
| 2-Bedroom | $132,773 | $937 | 8.47% |
| 3-Bedroom | $539,528 | $1,630 | 3.63% |
| Metro Manila avg. Rental Yields | 5.41% | ||
| CEBU CITY - Apartments | COST ($) | YIELD (p.a.) | |
| TO BUY | MONTHLY RENT | ||
| Cebu City (all locations) | |||
| Studio & 1-Bedroom | $89,687 | $480 | 6.42% |
| 2-Bedroom | $231,564 | $1,029 | 5.33% |
| 3-Bedroom | $445,976 | $1,544 | 4.15% |
| Cebu City (all locations) avg. Rental Yields | 5.30% | ||
| 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.