Lamudi reveals the cities with the most affordable and most expensive houses in the Philippine capital
MANILA, March 5, 2015: First home-buyers in Metro Manila should look at Valenzuela, Caloocan, Marikina, Las Piñas, Manila, Quezon City, Pasig, and Parañaque for more affordable options. Meanwhile, those who have more money to burn can find a luxurious abode in either Makati, Taguig, Muntinlupa, Mandaluyong, or San Juan.
This is based on the latest data analysis conducted by global real estate platform Lamudi Philippines, which ranks Metro Manila’s key cities from cheapest to most expensive for house prices.
Using data from more than 90,000 property listings, Lamudi found that 99, 97, 94, and 88 percent of all listed houses for sale in Valenzuela, Caloocan, Marikina, and Las Piñas, respectively, have asking prices of Php10 million or lower. On the other hand, 78, 59, 56, and 54 percent of all for-sale houses in Manila, Quezon City, Pasig, and Parañaque, respectively, are priced under Php10 million.
When it comes to affordability, Caloocan is the undisputed leader, where the median house price is Php787,750 and more than 50 percent of houses for sale are listed in Lamudi for Php1 million or less.
On the other hand, the cities with the most expensive homes based on median house prices are Makati, Taguig, Muntinlupa, San Juan, and Mandaluyong. According to Lamudi, only 4.7, 11.8, 18, 30, and 36 percent of listed houses for sale in these cities, respectively, have asking prices of lower than Php10 million.
In Makati alone, the most expensive house is listed for Php1.18 billion (or more than US$25 million), while the city’s median house price is Php130 million. Furthermore, 59 percent of all listed houses in the city have asking prices of more than Php100 million.
Metro Manila’s second most expensive city to buy a house is Taguig, where the median house price is Php34 million and the most expensive listed property is valued at Php95 million. Muntinlupa is third, with a median house price of Php31.75 million, while Mandaluyong and San Juan wrap up the top five with median house prices of Php29 million and Php13.5 million, respectively.
On the other hand, the most expensive houses in Muntinlupa, Mandaluyong, and San Juan are listed for Php270 million, Php252 million, and Php355 million, respectively, and are found in the very exclusive villages of Ayala Alabang, Wack Wack, and Greenhills.
In terms of number of properties available, Quezon City, Parañaque, Las Piñas, and Pasig have the most number of for-sale houses listed. Quezon City has 2,585 listed houses for sale, while there are 989, 489, and 355, respectively, for Parañaque, Las Piñas, and Pasig. Very few inventories from Pasay, Pateros, Navotas, and Malabon are listed on the Lamudi website.
“Quezon City remains a popular choice among property-hunters looking for houses,” said Lamudi Philippines managing director Jacqueline van den Ende. “In fact, the city not only boasts the highest number of for-sale houses, but also offers homes for a wide range of prices.”
Lamudi’s analysis found that there were close to 900 houses between Php50 and Php10 million in Quezon City listed for sale. These houses include a pricey Php50 million house and lot in the popular New Manila area, and an “affordable” Php15.5 million, four-bedroom townhouse in Scout Borromeo.
There are also more cheaper options in Quezon City than anywhere in Metro Manila. Lamudi found that 1,536 houses for sale in the city have asking prices of Php10 million or lower—ranging from a townhouse in Visayas Avenue to a Php1 million house in Novaliches.
Makati, on the other hand, remains the undisputed king of expensive houses in Metro Manila. In fact, six of the Philippine capital’s most exclusive gated communities or subdivisions are located here, where the homes of boxing icons, business tycoons, and politicians are found. Of Makati’s 481 listed houses, 375 has asking prices of Php50 million or higher, while only 23 are listed for Php10 million and below.
The analysis did not include the cities of Pasay, Malabon, and Navotas and the lone municipality of Pateros due to a lack of property listings from these areas.
Head of Content and PR, Lamudi Philippines
Phone: +63 917 3015127
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 32 countries in Asia, the Middle East, Africa and Latin America, with more than 850,000 real estate listings across its global network. The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online. For more information, please visit http://www.lamudi.com.ph
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