Can foreigners buy property in the Philippines?

Yes. Foreign nationals can purchase condominium units in the Philippines under the Condominium Act (R.A. 4726), which allows foreigners to own up to 40% of a condominium building's total units on a freehold basis.

What is the rental yield for condos in BGC?

Gross rental yields in BGC range from 7% to 9% depending on unit size, building quality, and location. Smaller units in well-managed buildings can push above 9%.

Which is better for investment, BGC or Makati?

BGC wins on rental yield (7-9% vs 6-8%), Makati wins on resale liquidity and brand prestige. The best approach is to hold one of each.

What are the taxes when buying property in the Philippines?

VAT (12%), Documentary Stamp Tax (1.5%), Transfer Tax (0.75%), Registration Fee (0.25%). Annual: Real Property Tax (1-2%) and HOA dues (P60-150/sqm/month).

Philippines Real Estate FAQ Question

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Can foreigners buy property in the Philippines?

Yes. Foreign nationals can purchase condominium units in the Philippines under the Condominium Act (R.A. 4726), which allows foreigners to own up to 40% of a condominium building's total units on a freehold basis.

What is the rental yield for condos in BGC?

Gross rental yields in BGC range from 4% to 6.5% depending on unit size, building quality, and location. Smaller units in well-managed buildings can push above 7%.

Which is better for investment, BGC or Makati?

For pure investment returns: BGC wins with faster appreciation, better liquidity. For capital preservation: Makati wins with deeper secondary market. The best approach is to hold one of each.

What are the taxes when buying property in the Philippines?

VAT (12%), Documentary Stamp Tax (1.5%), Transfer Tax (0.75%), Registration Fee (0.25%). Annual: Real Property Tax (1-2%) and HOA dues (P60-150/sqm/month).

What is the average price of a condo in Makati?

Makati condo prices range from ₱150,000 to ₱300,000+ per square meter in 2026. Prime locations in Legazpi Village and Salcedo Village command ₱220,000-₱300,000/sqm. The Makati CBD average is ₱175,000/sqm. Peripheral areas like Bel-Air and San Lorenzo range from ₱130,000-₱160,000/sqm. A typical 1BR (50-60sqm) in the CBD costs ₱8.75M-₱12M.

How does location affect condo prices in Makati?

Makati has distinct micro-markets. Salcedo Village (embassy row): ₱240,000-₱320,000/sqm. Legaspi Village (near Greenbelt): ₱200,000-₱280,000/sqm. Rockwell Center: ₱250,000-₱380,000/sqm (effectively its own premium market). Poblacion and Chino Roces: ₱120,000-₱160,000/sqm. Proximity to Greenbelt, Ayala Center, and BPO towers adds 15-25% premium.

Why are Makati condos considered a good investment?

Makati is the Philippines' undisputed financial capital — home to the PSE, major banks, and most Fortune 500 Philippine operations. This creates permanent, high-quality rental demand from corporate executives and diplomats. Makati condos have appreciated an average of 35% over the past 5 years with stable 6-8% rental yields, making them Asia's most reliable CBD investment outside of Singapore and Tokyo.

When is the best time to buy a condo in Makati?

Pre-selling phases offer 15-25% savings versus completion price. In 2026, Makati faces tightening supply with limited new development land — this supply constraint supports prices. Optimal timing combines: (1) pre-selling entry on projects by Ayala Land or Rockwell Land, (2) low interest rate environment for favorable bank financing, (3) strong peso providing foreign buyers currency advantage.

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What is the condo price comparison across Manila districts?

Expert Answer

Manila condo price comparison matrix 2026 (resale market, 1BR 50-65sqm fully furnished): BGC Core (Ayala Land/Federal): PHP 12M-22M purchase; PHP 50,000-80,000/month rent; yield 5-8%. Rockwell Center: PHP 18M-35M purchase; PHP 60,000-95,000/month rent; yield 4.5-6.5%. Makati CBD (Salcedo/Legaspi): PHP 10M-20M purchase; PHP 42,000-72,000/month rent; yield 5.5-8%. Makati Poblacion: PHP 6M-12M purchase; PHP 28,000-48,000/month rent; yield 6-9%. Ortigas Capitol Commons: PHP 7M-14M purchase; PHP 28,000-48,000/month rent; yield 6-8%. Ortigas general: PHP 4M-9M purchase; PHP 20,000-38,000/month rent; yield 6.5-9%. Mandaluyong MRT-adjacent: PHP 4M-8M purchase; PHP 18,000-32,000/month rent; yield 6-9%. QC Vertis North: PHP 6M-12M purchase; PHP 28,000-48,000/month rent; yield 6-8.5%. Pasig Ortigas-adjacent: PHP 3.5M-8M purchase; PHP 16,000-30,000/month rent; yield 6.5-9%. Davao Park District: PHP 4M-9M purchase; PHP 22,000-38,000/month rent; yield 7-9%. Cebu IT Park: PHP 3M-7M purchase; PHP 18,000-32,000/month rent; yield 7-10%. Best value for yield: Cebu IT Park and Davao Park District deliver highest net yield relative to purchase price.

Makati Price Per Sqm by Sub-Area (2026)

Ultra-premium (Rockwell Center): ₱280,000-₱380,000/sqm. Premium (Salcedo Village, Legaspi Village): ₱200,000-₱280,000/sqm. Prime CBD (Ayala Avenue corridor): ₱160,000-₱220,000/sqm. Mid-tier (Chino Roces, Bel-Air): ₱120,000-₱160,000/sqm. Entry-level periphery: ₱80,000-₱110,000/sqm. For comparison: BGC premium is ₱160,000-₱280,000/sqm; Ortigas is ₱90,000-₱140,000/sqm.

What Drives Makati Condo Prices Higher

Price premium drivers: (1) Floor level — each 10 floors adds approximately 3-5% premium, (2) City view vs park view vs amenity view — premium views add 8-15%, (3) Corner units — typically 10-20% more than interior units due to light and privacy, (4) Parking slot inclusion — a parking slot in Makati is worth ₱1.5M-₱3M separately, (5) Building age and condition — brand-new units from reputable developers command 25-35% premium over 15+ year old buildings in same location.

Price History and Appreciation Data

Makati CBD condominiums have appreciated an average of 6-9% annually over the past decade. Specific sub-market performance (2016-2026): Salcedo Village: +78%, Legaspi Village: +65%, CBD average: +52%, Rockwell Center: +92%. The most recent 2-year period (2024-2026) shows acceleration: BGC +14%, Makati CBD +11%, Rockwell +18%, driven by supply constraints and sustained expat demand. This appreciation trajectory makes Philippine real estate one of Asia's best-performing investment classes.

Important: Laws, tax rates, and market conditions change. Always verify current regulations with a licensed Philippine real estate attorney before making investment decisions. This content is for educational purposes only and was last updated April 2026.

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What is the condo price comparison across Manila districts?

Makati Price Per Sqm by Sub-Area (2026)

What Drives Makati Condo Prices Higher

Price History and Appreciation Data

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