Where to Find the City's Most Expensive Bachelor Pads
How does P18,800 for a one-night stand in a hotel room sound?
If that made your wallet groan, it’s for a good reason. That’s the cheapest rack rate for a night in Okada Manila, which offers the most expensive hotel rooms in Metro Manila, according to property analyst JLL Philippines. Other hotels connected to casinos in the Bay Area have similarly high prices.
Of course, those rates are a bargain compared to the country’s most expensive hotel suites. A night at Manila Hotel’s presidential suite can set you back by as much as P600,000 per night.
If that sounds more like your price range, then you may be interested in a unit at Federal Land’s Grand Hyatt North Tower in Bonifacio Global City, which is currently pre-selling its luxury condominiums for as much as P420,800 per square meter, the highest in Metro Manila’s pre-selling market. With Grand Hyatt's largest unit measuring at 407 square meters, that would cost at least P171 million.
Not far behind is Ayala Land’s P360,000-per-square-meter pre-selling rate for Park Central South Tower in Makati. The largest unit here spans 1,635 square meters, so you're looking at a price tag of at least P588 million.
But those two don’t overtake the National Capital Region (NCR)'s most expensive condominium unit, which currently sells for P425,000 per square meter according to JLL. The analyst revealed that this is located in Makati and developed by Shang Properties.
Makati also has Metro Manila's most expensive offices, where rental rates can go for as high as P1,850 per square meter per month. JLL doesn’t specify which office tower has these rates, but they do reveal that these are mostly used by offshoring, outsourcing, and online gaming firms.
If all those prices seem too much, they'll only going to get higher in the future, as JLL sees prices across all sectors continuing to increase due to sustained demand from both local and foreign buyers. In particular, the high rates commanded by the Bay Area’s casino-connected hotels can be attributed to the wide pockets of their target market: South Korean and mainland Chinese tourists.
So if you want to get your hands on one of Metro Manila’s priciest properties, act fast—they will be overtaken by even more expensive developments in the not-so-distant future.