Manila has retained its position in the super prime residential market, property consultancy SKF said.
In a report released last week, SKF said Manila placed 9th in Knight Frank’s Prime Global Cities Index for the first quarter of 2025, with a 5.5 percent year-on-year increase in prices over the past 12 months.
In a press briefing also last week, Anjo Sumait, SKF head of residential services, said this puts Manila as an affordable luxury market from a global perspective.
The report said for $1 million or the equivalent of P56 million, one can purchase a two-bedroom, 133 sq.m. condominium unit in Metro Manila. For the same price, Yokohama in Japan offers a two-bedroom unit in a much smaller cut of 61 sq.m.
In Singapore, a a two-bedroom 72 sq.m. unit costs about $1.8 million while in Hong Kong, a two-bedroom 47 sq.m. unit costs $2 million, SKF said.h
The report said Metro Manila’s condominium market offers diverse opportunities, from accessible options in Quezon City to premier developments in Makati, reaching over P572,000 per sq.m. for ultra-luxury and P490,000 per sq.m. for luxury. Taguig prices for luxury condos sell for P340,000 per sq.m.
According to SKF, prime villages in Manila continue to demonstrate steady growth with Forbes Park leading the growth with a 15 percent increase, at P825,000 per sq.m., compared to P717,000 per sq.m. the prior year, closely followed by Dasmariñas, Magallanes, and Ayala Alabang at 14 percent, according to Sumait.
Residential properties in Dasmariñas are currently priced at P740,000 per sq.m., P370,000 per sq.m. in Magallanes, and P380,000 per sq.m. in Ayala Alabang.
“Limited availability and exclusivity continue to drive the demand in these exclusive subdivisions,” Sumait said.
Rick Santos, chairman of SKF, said in the same briefing,
Makati and Bonifacio Global City (BGC) remain top choices among buyers such as young professionals aged 30 to 45.
“Around BGC, we are seeing demand on the higher-end side, especially record enrollment in some of the international schools and the influx ofexpats from some of the multinational companies moving in with their families. A lot of those going towards high-end kind of living,” Santos said.
He said capital appreciation of ultra-luxury subdivisions in Metro Manila remains resilient, citing Forbes where the appreciation, compounded annual growth rate, was at 15 percent at P825,000 per sq.m. compare that to the 2024 price of P750,000 per sq.m.
Limited availability in Manila’s luxury and high-end villages contributes to the continued capital appreciation of these highly sought-after locations,” the report added.
Sumait noted the scarcity of units for sale such that owners tend to wait and lease their properties
“Why they remains resilient and high is because some of the landlords, or ultra-luxury owners, are able to wait for the right client who can avail their prices,” Sumait added.
