In 2024, Manila earned the distinction of being the fastest-rising market in the world for luxury real estate. Ever since then, the luxury real estate market has shown no sign of slowing down, with developments from Ayala and Banyan Group currently in the works.
Condominiums in Manila tend to sell quickest in some of the most affluent parts of the city, especially units that are close to central business districts and mixed-use community hubs. Whether they’re used for residences or rentals, units in these neighborhoods are igniting the demand for condominiums in the city.
Want to know more about the luxury real estate market in Manila? Go in-depth on Why Manila Is The Fastest-Growing Market In The World for Luxury Real Estate.
Locations with Luxury Condominium Properties
While new luxury developments are being constructed as far south as Paranaque, there are parts of Metro Manila that remain synonymous with upscale accommodations. It’s easy to see why some of these luxury condominiums are being snapped up for short- and long-term rental investments as well as private residences.
1. Bonifacio Global City, Taguig
By this time, many observers are no longer surprised by the luxury condominium market in BGC. Prices have gone up as high as Php300,000 per square meter, and even a one-bedroom condominium can set a potential owner back by millions of pesos. Yet condo owners love the convenience of living in the Global City.
The proximity of most properties to shopping malls, public parks, and offices in the business district are a big draw for homeowners and renters. Nearby private schools in the Taguig area are also a big plus.
2. Rockwell, Makati
While Makati has been the longtime home of many elite condominiums, the mixed-use community of Rockwell stands out as a favorite among the upper-class set. The “crowd” at Rockwell may be a little older and family-oriented, but it doesn’t make the neighborhood any less fashionable.
Rockwell has the distinction of having a walkable community within its walls. Apart from a handful of office buildings, there are also many upscale shopping and dining options, and the nightlife hub of Poblacion is a short ride away.
The original Rockwell is one of the many “city-within-a-city” developments from Rockwell Land, one of the 10 Largest Real Estate Developers in the Philippines.
Rising Markets for Condominiums
Can’t afford BGC or Makati? Other mixed-use communities and established neighborhoods are making their presence known in the real estate market. While they don’t have the immediate prestige of these luxe addresses, these neighborhoods are becoming new favorites among homeowners and investors.
1. Eastwood City, Quezon City
Residents of Metro Manila often complain about Quezon City being too far up north, but Eastwood City may change their mind. After all, there’s no denying that the convenience of living close to a budding business district has its advantages. Did we also mention the upscale shopping mall and the energetic in-house nightlife scene?
2. Greenhills, San Juan
Another longtime favorite of the affluent set, Greenhills is becoming a high-end option for condominiums that are close to the Ortigas business district. The neighborhood is within close range of Ortigas as well as La Salle High School, Cardinal Santos Medical Center, and Wack Wack Golf & Country Club, adding to its upscale cachet.
3. Binondo, Manila
With condos going for a median list price of around Php12 million and heightened interest in the food and cultural attractions of the neighborhood, the world’s oldest Chinatown is due for a renaissance in the real estate market. Younger residents will appreciate its proximity to the University Belt, as well as the cafes and nightlife joints nearby.
Binondo also has the distinction of being one of The Trendiest Places In The Metro, alongside popular hubs such as Poblacion, Cubao Expo, and nearby Intramuros.
The Future of Manila’s Condominium Market
Whether you’re investing in a luxury rental at BGC or finding a high-rise home in Greenhills, buying a condominium anywhere in Manila can be a wise investment. After all, demand for urban housing is still high, and the supply of upscale units in the city have yet to run dry.
Now’s a good time as any to invest in a condominium in Manila, and it pays to take another look at the market. You may even find the investment property of your dreams, regardless of where the search takes you.
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