Affordable Condos in Metro Manila: Finding the Best Option for You

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Metro Manila condo market trends 

The real estate market in the National Capital Region (NCR) is subject to trends and dynamics that affect the accessibility of an investment. Discover trends and current costs for this market to situate your purchase within the greater context of Philippine real estate.

An overview of condo market dynamics

From the dynamics of property supply and demand to median selling prices across the country's capital, here are some of the most relevant market trends in the current investment landscape for your consideration:

• Condo supply through 2027 -  Due to great demand but fewer launches of developments, there remains an oversupply of units across the metro, with projected supply lasting through 2027 to May 2028. This means that now is the best time for buyers to maximize purchases with potential discounts and sales that are driven by this oversupply. 

• Unsold inventory from 2024 to 2025 - The aforementioned oversupply is partly due to the large amount of unsold inventory from 2024 to 2025. According to recent reports that prompted strategic shifts in Metro Manila, there were 79,400 units available across 619 actively selling buildings in the third quarter alone, leading developers to recalibrate their uses for these unsold properties.

• Median list prices - Currently, condo prices in NCR range between ₱217,000 to ₱364,000 per square meter (sqm), with the highest median list prices happening in cities like Makati and Taguig. These incredibly high rates make it difficult for middle-income Filipinos to access affordable housing in these areas, even with an oversupply of properties across the capital.

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How much is a condo in the Philippines (really)

Given these trends, you might be wondering what actually constitutes an affordable and accessible property in the country. Here’s a breakdown of price bands and buyer personas in the metro, for your self-assessment:

• Budget or Entry (₱1.0M–₱3.5M) - If you’re looking to buy a property between ₱1.0M to ₱3.5M, then you’re probably in the market for small studios, foreclosures, and some ready-for-occupancy (RFO) units outside central business districts (CBDs). According to recent property market reports, these budget or entry properties are best for first-time buyers on tight budgets, and are usually found in areas like Quezon City and Caloocan.

• Mass-market or Value (₱3.5M–₱7M) - Looking for mass-market or value units that range between ₱3.5M to ₱7M? You’ll find these small one-bedroom presell units or mid-range RFO units in commuter cities like Pasig and Manila, or areas down south like Parañaque and Muntinlupa. These types of units work best for young couples who can share their income but have fewer familial commitments, like kids.

• Comfortable or Investment (₱7M+) - If you’re capable of pursuing comfortable investments, like units that go beyond ₱7M+, then you’re definitely in the market for bigger one to two-bedroom units nearer CBDs. These luxury condo properties are all the rage nowadays, and are perfect for buyers prioritizing location or rental yield over cost. These properties for small families or investors can usually be found in cities like Makati, Pasay, and Taguig.

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Where to find the most affordable condo options in Metro Manila

With a better handle on trends and prices, you can begin narrowing down your choices to find the most cost-effective housing options in Metro Manila. Here are a few tips to figure out the best places to invest in today.

Neighborhood cheat sheet for buying a condo

Want to narrow down your options based on neighborhoods? Here’s a quick cheat sheet for you to find real affordability, even at the heart of the metro:

• Inner Manila pockets - Condos in Manila neighborhoods like Malate, Sampaloc, and Sta. Mesa often offers lower list prices per square meter than CBDs, while still being close in proximity to multiple LRT stations and bus stations.

• Ortigas, Pasig, and Mandaluyong peripheries - The outskirts of these areas in NCR usually offer mid-tier mass-market properties with great links to transport as well, like the MRT, certain point-to-point buses, and EDSA itself.

• Alabang fringe and south suburbs - These neighborhoods, while historically on the expensive side, also offer competitive mass-market stock with tons of developer sales and promotions. This is due to the oversupply of properties in these specific areas of the capital.

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How to buy a condo: Types and considerations 

Aside from looking at neighborhoods and prices, it’s important for you to find different entry-level routes to affordability by studying a wide range of property types. Here are some types of units to consider for your investment:

• Preselling units - These types are known for their lower initial prices and flexible payment schemes, which can be great for investors with tighter budgets. However, you'll need to keep an eye out for risks like incomplete projects and hidden charges when it comes to these units.

• RFO and resale - As the term “ready for occupancy” (RFO) suggests, these types are great for when you need to move into a home immediately. You can avail of possible developer discounts and flexible terms for unsold RFO inventory, though you'll have to factor in transfer fees and retrofitting costs with these homes.

• Foreclosed or bank-seized units - If you really need a cheaper home, foreclosed or bank-seized units can be a good option. However, you'll need to carefully inspect the location ahead of time and confirm it has a clean title if you want an issue-free home purchase.

• Socialized or Pag-IBIG-accredited projects - These types of development projects are often heavily subsidized by at least 3% by institutions like Pag-IBIG, making them incredibly affordable for eligible first-time buyers. 

• Smaller-city or peri-urban options - If it's within your means, you might want to go for peri-urban housing options like Cavite or Rizal, as they offer lower prices per square meter. Of course, these homes are far from the capital, so they might not work if you have lifestyle commitments within NCR.

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Comparing condo prices in the Philippines

Want tools to help you figure out your property list options even more? Here’s a price comparison framework that you can use to review your homebuying options:

Remember to consult with a property lawyer, experienced real estate agent, or a financial adviser prior to your purchase, to gain informed insights and have the support of someone in the field for your investment.

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Finding the perfect property for your price range

Bring these final reminders with you as you find the perfect property for your price range and lifestyle:

• Keep track of recent trends in real estate. By tracking the up-to-date progress of the industry, you can discover more opportunities for seasonal sales and discounts.
• Study different home types. This will help you assess the best type for your needs, whether you're an individual professional or a young parent.
• Compare and contrast with expert tools. Utilize a comprehensive price framework like this Real Estate Comparison to compare and contrast possible list prices.

Ready to discover the most affordable home for you? Find the perfect real estate for your investment dreams at Condo Arena.