Manila property - real estate in Manila

Green Belt Residences are very plush

Green Belt Residences are very plush

Property in Manila is perhaps one of best investments in the region. The capital city of the Philippines is overflowing with career and business opportunities so many people from rural areas desire to transfer to the metro. In fact, not only does Manila attract local attention, it is also a favourite among international real estate investors who want to take advantage of the current boom.

As consequence, there are commercial and financial pockets in Manila where the price of real estate seems to be at its peak owing to their strategic locations and accessibility to the things that make city life easy such as transport links, shopping spots, dining destinations, and offices.

The price of a Manila property depends greatly on its location. The chief commercial and financial area in Manila is Makati City, where real estate is also most expensive. Most of the progressive companies, main offices and branches of multinational and international companies are located in Makati.

Foreigners are allowed to own units in high-rise condominium buildings. These condominium unit are priced according to floor space, style, and the level of furnishing provided. Studio-type units are the most affordable, while twin-floored duplex pads are one of the most expensive. In addition, properties that are along the main transport links are also sought-after, making them pricey. Condominium buildings, rental apartments and other real estate located along the constantly busy MRT and LRT routes have high marketability.

Some units are already equipped with everything necessary, ready to receive its new residents. These fully furnished service residences come with higher price tags, of course. If you want to venture out of Makati, consider other commercial areas like the Global City in Taguig, Ortigas, Mandaluyong, Eastwood City in Libis, and the up and coming QC Business District in Quezon City.

Moreover, there are also areas in Manila where real estate is priced high not only because of location, but also of the level of prestige that comes with their names. White Plains, Corinthian Gardens, Valle Verde, Loyola Heights, Dasmarinas Village, Ayala Alabang Village and Forbes Park are just some of the areas where the rich and the famous tend to live, so expect land price to be skyrocketing.

Buying condos and apartments in Manila

Serviced apartments are great for short stays

Serviced apartments are great for short stays

Condos and apartments are ideal if you need to be in the city centre. Those located in Manila’s commercial and industrial hubs are the most expensive. You could come home in a studio-type condo unit situated right in the middle of Makati City for no less than Php3 million. An apartment also costs more or less the same. However, condo units and apartments that are in the city but not directly in the commercially dynamic areas – especially in Quezon City – could be a bit cheaper, starting at around Php2 million.

Buying land and houses in Manila

Manila house and lot properties located in the city’s exclusive neighbourhoods are expensive. A fully furnished, two-storey, 200 square-metre house in an upscale subdivision like Valle Verde or Ayala Alabang Village would be around Php 20 million or more. Needless to say, a bare house is much cheaper than one that already has everything.

Land area also definitely affects the price. More affordable properties can be found in areas that are not so high in popularity polls, but are still near transport routes and shop and dine spots. In addition to that, land and houses in areas that are near leading Manila universities are also a good choice since they oftentimes feature the usual comforts of those that are near commercial hubs without being too expensive.

Manila serviced apartments

Leasing an apartment or condo unit is perhaps the best way to live in the dynamic heart of Manila without denting one’s purse too much and protecting oneself from problems along the way. It provides lessees with open choices, and for those whose work requires them to change addresses often, leasing a condo is the most practical option. From luxurious suites to bare units, the choices are endless. Moreover, it is possible to lease an apartment or condo in Manila for only three months or more with monthly renting arrangements also common.

Investing in property in Manila

Real estate investing is certainly lucrative for as long as you buy in the right location. If you plan to buy and sell property here, be sure you only buy in the prime spots of the city – that is in the financial and commercial hot spots. These areas attract a lot of both local and foreign attention, making them the best magnets for future clients who have the capacity to cope with the increase in price trends. Because of the current real estate boom in Manila, it is possible to buy a property now and sell it for twice the price after just two years or so.

Real estate agents in Manila

Because of the high success rate of the real estate business in the metro, there are now agents that cater specifically to foreigners who have specific demands. There are also agents that are specialize in one specific location alone, and there are also those that cover large areas. If you are not sure yet of which kind of property you plan to have, you can browse through the portfolios of the agents to obtain an idea of the possible choices.

Bahay.ph
The biggest online real estate agency in the country, this website gives you access to the latest properties for sale in Metro Manila as well as other major cities in Luzon, Visayas, and Mindanao, including properties for sale in tourist spots like Boracay. The name ‘bahay’ means ‘house’. 3201 Robinsons Equitable Tower, ADB Ave. corner Garnet Road, tel: +63 2 545 0755, +63 919 825 5220, email: sales@bahay.ph, website: www.bahay.ph.

Ayala Land Premiere
The official sales agency of all Ayala Land, Alveo, and Avida projects, mostly luxury condominiums and townhouses, tel: +63 2 848 5000, website: www.ayalalandpremier.com.

CB Richard Ellis Philippines
A world-renowned real estate advisor offering real estate sales, tenant representation, leasing, etc. 10F Ayala Tower One & Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City, tel: +63 2 752 2580, fax: +63 2 752 2571, email: ricksantosteam@cbre.com.ph, website: www.cbre.com.ph.

Condos Philippines
Another leading online real estate agency specializing in condominiums that are easy for foreigners for acquire. Aside from sales and leasing, the company also offers property management services to help you rent out your property whenever you’re not in the country.  5th Floor, Net One Center, 26th St. cor. 3rd Ave, Crescent Park West, Bonifacio Global City, 1634 Taguig City, Metro Manila, tel: +63 2 986 5875, +63 2 776 3145, mobile: +63 916 450 3614, email: sales@condominiumsmanila.com, website: www.condominiumsmanila.com.

Islands Properties
This agency specializes in properties in the Philippines’ many vacation islands, especially Boracay and Palawan, tel: +63 35 422 8690, +63 35 422 9679, fax: +63 35 422 9679, email: info@islandsproperties.com, website: www.islandsproperties.com.

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