Property Prices in Metro Manila's Most Exclusive Villages Show Significant Increases in Q2

Being one of the fastest-growing economies in Southeast Asia over the past few years, the Philippines' economic performance has led to an uptick in disposable income and the emergence of a newer wealth class. As seen with its most affluent villages, investments in luxury real estate are continuing to be of major interest and growth should only continue from here.

According to Leechiu Property Consultants' (LPC) latest property market report, prime villages in the Philippines yield much of the same steady appreciation despite current interest rates and inventory woes for properties in the segment.

In the case of Forbes Park, a 6.4 percent increase was recorded, growing to P642,000 per square meter. Likewise, Dasmarinas Village also saw a 1.1 increase to P635,000 per sqm. Villages like Green Meadows and Ayala Alabang also saw 0.7 percent (at P283,000 per sqm) and 1.3 percent increases (at P231,000 per sqm)

Director Roy Golez speaking during the press briefing at LPC's offices in Makati.

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The interest in high-end real estate applies to condominium developments, too. For instance, luxury condominiums in Makati saw a steady price growth during the quarter. High-end residential developments in Makati such as Two Roxas Triangle and the Proscenium Residences each recorded 5.3 percent and 14.9 percent increases, respectively. Meanwhile, capital appreciation for Park Terraces - Point Tower, Rizal Tower, and Shang Grand Tower grew by 7.8 percent, 6.2 percent, and 7.4 percent.

BGC, on the other hand, recorded the same consistent growth for its premium flagship developments. Such is the case with The Suites, Grand Hyatt Residences, and East and West Gallery Place, which recorded 6.2 percent, 10.3 percent, 11.4 percent, and 8.9 percent, separately.

Appetite for luxury homes in the Philippines has been strong, especially since last year. In December 2023, data from Santos Knight Frank’s Prime Global Cities Index suggested that Manila's top-of-the-line residential sector had the fastest price growth in the world at 21.2 percent, surpassing residential hot spots like Dubai in the United Arab Emirates and Shanghai in China. With a 3.8 percent gain, the Asia-Pacific region has emerged as the strongest-performing region in terms of annual luxury price growth globally.