Real Estate in Manila
Last updated on Apr 01, 2023
Summary: The average cost of a nice 2 bedroom home in Manila, Philippines is around $200,000 USD. A nice 3 bedroom home in Manila is around $300,000 USD. These properties typically include modern amenities such as air conditioning, cable TV, and internet access. Some may also include a swimming pool, a garden, and a garage. Foreigners are allowed to own property in Manila, but there are certain restrictions. For example, foreigners are not allowed to own land, but they can own condominiums. When searching for a home to buy in Manila, an expat should consider their budget, the location, and the amenities they are looking for. It is also important to research the local real estate market and to consult with a real estate agent. The most desirable neighborhoods in Manila include Makati, Bonifacio Global City, and Ortigas Center. These areas are known for their modern amenities, convenient access to transportation, and vibrant nightlife.
How do I find a place to live in Manila?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"I lived in Pasay/Malate first because it was close to my first Uni course. Found the building (Asiawealth Tower) on the net. Second condo was just outside Valle Verde 1, recommended by someone who I knew. Much quieter and richer area. I didn't enjoy it as much. A car would be helpful if you decide to live more than walking distance from the LRT/MRT," remarked one member in Manila.
"If you are looking for a place to live in Manila, there are a variety of options available. You can search online for rental listings, or contact a local real estate agent to help you find a suitable place. You can also look for classified ads in local newspapers or online. Additionally, you can ask friends and family for recommendations. Once you have narrowed down your search, you can visit the properties in person to get a better feel for the area and decide if it is the right fit for you," explained one expat living in Manila, Philippines.
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What is a typical expat home or apartment like in Manila?
"Yes, a large condo is typical expat housing if you have no kids. No need to worry about security, just get to know the guards and staff in your building well and they will look out for you," explained one person living in Manila, Philippines.
"Expat homes and apartments in Manila typically feature modern amenities and furnishings, with many having access to a pool, gym, and other recreational facilities. Expats can also expect to find spacious living areas, with some apartments offering spectacular views of the city skyline. Many expat homes and apartments also come with a full kitchen, complete with appliances and cookware. Security is also a priority in Manila, with many expat homes and apartments featuring 24-hour security guards and CCTV surveillance," said one expat in Manila.
What is the average cost of housing in Manila?
If you are thinking about moving to Manila, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Lower than Sydney by miles! Condos can be had for 20k/mo and up, all the way to 70k/mo if you are getting a good allowance or feeling rich. Furnished adds far more than the cost of buying stuff, so if you are staying more than a year consider going unfurnished," said one expat in Manila.
"The cost of housing in Manila can vary greatly depending on the area and type of accommodation. Generally, the average cost of renting an apartment in Manila is around $400 to $600 per month, while the cost of buying a house can range from $50,000 to $500,000," remarked one member in Manila.
Should I buy or rent a home in Manila?
If you have not spent a lot of time in Manila, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Manila can be a great investment, as the city is growing rapidly and property values are increasing. However, it is important to consider the cost of living in the city, as well as the availability of housing. Renting a home in Manila can be a more affordable option, as it allows you to live in the city without the commitment of a long-term mortgage. Additionally, renting can provide more flexibility if you are unsure of how long you will be living in the city. Ultimately, the decision to buy or rent a home in Manila should be based on your individual needs and financial situation," remarked one member in Manila.
What do I need to know when buying property in Manila?
When we asked expats what advice they would give a foreigner before buying a property in Manila, they said:
"When buying property in Manila, it is important to research the area and the property thoroughly. Make sure to check the zoning regulations and any restrictions that may apply to the property. It is also important to understand the local real estate market and the current market value of the property. It is also important to hire a reputable real estate agent or lawyer to help you with the process. Additionally, it is important to understand the taxes and fees associated with the purchase of the property. Lastly, it is important to ensure that all documents related to the purchase are properly signed and notarized," explained one foreigner living in Manila, Philippines.
Are foreigners allowed to own property in Manila?
When we asked expats what advice they would give a foreigner before buying a property in Manila, they said...
"Yes, foreigners are allowed to own property in Manila. The Philippine Constitution allows foreign nationals to own real estate in the Philippines, provided that the land is acquired for residential, commercial, or industrial purposes. Foreigners may also own condominium units in the Philippines, as long as the total foreign ownership of the condominium project does not exceed forty percent. Foreigners may also lease land in the Philippines for up to fifty years, with the option to renew the lease for another twenty-five years," said one in Manila.
What appliances are typically included in a rental?
We asked foreigners in Manila what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In a rental property in Manila, tenants can typically expect to find a refrigerator, stove, oven, washing machine, and air conditioning unit. Other common appliances may include a microwave, water heater, and television," explained one expat in Manila.
Additional Information about Searching for a Home in Manila:
We asked foreigners in Manila what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats looking for homes in Manila can search online for real estate listings, contact a local real estate agent, or look for rental postings on websites such as Craigslist or Facebook Marketplace. Additionally, expats can join local expat groups or forums to ask for advice and recommendations from other expats who have already gone through the process of finding a home in Manila," said one foreigner living in Manila, Philippines.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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