Where do the richest people in the Philippines live? Take your pick: Ayala Alabang, Forbes Park, BGC, Makati, Davao?
Well, it is a given that most of them reside in high-end, super-exclusive subdivisions and villages in the country. We’re already familiar with posh residential villages such as Forbes Park, Dasmarinas Village, or Ayala Alabang. But which one really is the most expensive? Which subdivisions command the highest price of land in the Philippines?
The answer can be found in a Property Market Research Report prepared by Leechiu Property Consultants. Based on this report, let’s find out which locations have the highest property prices and land values in the Philippines!
Most Expensive Subdivisions in the Philippines
Here’s a table, from the property market report of LeeChiu Property Consultants, showing the trend in lot prices per square meter (sq. m.) in upscale villages and subdivisions in the Philippines from 1972 until 2017.
|Subdivision||Location||1972 Price per sqm||1982 Price per sqm||1992 Price per sqm||2002 Price per sqm||2012 Price per sqm||2017 Price per sqm|
|Dasmarinas Village||Makati City||PHP 200.00||PHP 1,500.00||PHP 10,500.00||PHP 42,000.00||PHP 180,000.00||PHP 345,000.00|
|Forbes Park||Makati City||PHP 228.00||PHP 1,750.00||PHP 10,500.00||PHP 57,500.00||PHP 130,000.00||PHP 280,000.00|
|Urdaneta Village||Makati City||PHP 195.00||PHP 1,400.00||PHP 6,875.00||PHP 41,470.00||PHP 85,000.00||PHP 250,000.00|
|San Lorenzo Village||Makati City||PHP 175.00||PHP 1,375.00||PHP 5,550.00||PHP 20,428.00||PHP 110,000.00||PHP 260,000.00|
|Bel-Air Village||Makati City||PHP 188.00||PHP 1,300.00||PHP 8,500.00||PHP 28,758.00||PHP 159,000.00||PHP 260,000.00|
|Ayala Alabang||Muntinlupa City||PHP 170.00||PHP 300.00||PHP 10,000.00||PHP 22,500.00||PHP 65,000.00||PHP 95,000.00|
Although most of us are very familiar with the popular high-end village Forbes Park (see also: Manny Pacquiao’s house in Forbes Park), apparently, it is no longer the most expensive residential location in the Philippines.
Yes in just 5 years, the lot price in Forbes Park has actually more than doubled from P130,000 per sq. m. (in 2012) to P280,000 per sq. m. (in 2017), but starting 2012, it actually lost the crown to Dasmarinas Village in Makati, making the latter the most expensive subdivision with the highest land valuation in the country.
In Dasmarinas Village, the going rate for a piece of lot is a staggering P345,000 per sq.m. Yup, that’s just for a square meter of land. The house and any other improvements there are not yet included. At P345,000 per sq.m, it is almost double its own lot price of P180,000 per sq. m. back five years ago.
Other high-end residential areas in the Philippines include San Lorenzo Village and Bel-Air Village, both located in Makati City, each with lot prices selling for P260,000 per sq.m. as of 2017.
Real Estate Prices in High-End Subdivisions in the Philippines
LeeChiu Property Consultants also released an updated report for 2018 summarizing the current lot prices inside the most exclusive villages and subdivisions in the Philippines. This is shown in the table below.
Again take note that the following prices are going prices just for lots — house not yet included — even when you shell out the humongous amount of cash below!
|Rank||Subdivision||Lot Price per Sqm (2018 Prices)||To buy 1,000 sqm lot, you will have to pay...|
|1||Dasmarinas Village (Makati)||PHP 374,000||PHP 374 Million|
|2||Forbes Park (Makati)||PHP 300,000||PHP 300 Million|
|3||Urdaneta Village (Makati)||PHP 270,000||PHP 270 Million|
|4||Corinthian Gardens (Quezon City)||PHP 252,000||PHP 252 Million|
|5||Greenhills East (San Juan)||PHP 210,000||PHP 210 Million|
|6||Greenmeadows (Quezon City & Pasig)||PHP 160,000||PHP 160 Million|
|7||Valle Verde (Pasig)||PHP 150,000||PHP 150 Million|
|8||Ayala Alabang (Muntinlupa)||PHP 95,000||PHP 95 Million|
|9||Hillsborough Alabang (Muntinlupa)||PHP 58,000||PHP 58 Million|
Still taking the lead among high-end residential areas is Dasmarinas Village in Makati, with lot prices going for P374,000 per sq. m. This means if you plan to buy a 1,000 sq. m. land in that subdivision, be prepared to pay a total of P374 Million and, again take note, this amount is just to purchase lot — house is not included!
Other expensive residential real estate locations in the country, based on LeeChiu’s 2018 property market report, are:
- Forbes Park, with lot prices going for P300,000 per sq. m.
- Urdaneta Village, with lot prices selling for P270,000 per sq. m.;
- Corinthian Gardens, with lots priced at P252,000 per sq. m.; and
- Greenhills East, with lots selling for P210,000 per sq. m.
Most Expensive Condo Units in the Philippines
What about condominium units?
Interestingly, some of the most expensive condo units in the Philippines can rival that of high-end residential lots mentioned above. See below the going rates, per square meter, of a unit in ultra-expensive condominium buildings in the Philippines.
|Rank||Residential Condo||Price per Sqm (2017 Prices)|
|1||Discovery Primea (Makati)||PHP 322,000|
|2||The Residences at Greenbelt (Makati)||PHP 250,000|
|3||Edades Tower (Makati)||PHP 243,000|
|4||One Serendra (BGC)||PHP 220,000|
|5||Arya Residences (BGC)||PHP 220,000|
|6||The Grove (Ortigas Center)||PHP 140,000|
|7||Escalades at 20th Avenue (Quezon City)||PHP 135,000|
|8||Pearl Palace Tower 1 (Ortigas Center)||PHP 125,000|
Data above shows that Discovery Primea condo in Makati appears to be the most expensive condo in terms of unit price. With a rate of P322,000 per sq. m., if you will buy a 400-sq. m., 2-bedroom unit in that condo, be ready to shell out — wait for it — cash of P130 Million!
Other expensive condo units in the Philippines include The Residences at Greenbelt which sells for P250,000 per sq. m., while The Edades Tower condo goes for P243,000 per sq. m.
Meanwhile, units in two popular condos in Fort BGC — One Serendra and Arya Residences — each have listing price of P220,000 per sq. m.
Condo Prices in Top Cities in the Philippines
Although most condominiums in the Philippines don’t offer land ownership, prices of condo units have continued to surge, especially in condos located in commercial business districts.
Here are price ranges of condominium units in Metro Manila, based on LeeChiu’s property report for 2018.
|Location||High-End Condo (Minimum Price)||High-End Condo (Maximum Price)|
|BGC / McKinley Hill||PHP 159,125 per sqm||PHP 302,588 per sqm|
|Makati||PHP 164,600 per sqm||PHP 294,827 per sqm|
|Bay Area, Pasay||PHP 197,441 per sqm||PHP 200,552 per sqm|
|Alabang||PHP 112,320 per sqm||PHP 192,215 per sqm|
|Libis, Quezon City||PHP 107,913 per sqm||PHP 151,263 per sqm|
|Ortigas Center, Pasig||PHP 136,480 per sqm||PHP 144,320 per sqm|
|Mandaluyong||PHP 92,935 per sqm||PHP 119,144 per sqm|
|Paranaque||PHP 72,130 per sqm||PHP 92,300 per sqm|
As expected, The Fort BGC in Taguig City leads the prices of condo units in the country, with peak price of P302,588 per sq. m. as of 2018. This means a unit in that condo with size of 100 sq.m. will sell for more than P30 Million — and that’s a bare unit with no furnishings.
The country’s central business district, Makati, trails behind with maximum condo price of P294,827 per sq. m.
Meanwhile, the Bay Area in Pasay City is catching up and has now reached a condo peak price of P200,522 per sq. m., thanks to the burgeoning casino and gaming businesses in the Entertainment City.
For Sale: Most Expensive House & Lots in the Philippines
Wondering how the houses of the rich in the Philippines look like?
We scoured property classified ads websites Lamudi, Zipmatch, Property24, and DotProperty to have a sneak peek of houses for sale inside ultra-exclusive and uber-expensive villages and subdivisions in the Philippines. Here’s what we found.
If you’ve got the money — and by that we mean, hundreds of millions of pesos — take your pick and buy any of these houses available for sale!
1. Dasmarinas Village
Selling Price: P950 Million (P950,000,000 or US $18.1 Million)
What’s for sale: 4-bedroom bungalow house and lot inside Dasmarinas Village, Makati
Lot Area: 3,026 sqm
Floor Area: 2,534 sqm
2. Forbes Park
Selling Price: P1 Billion (P1,000,000,000 or US $19.1 Million)
What’s for sale: 10-bedroom, fully-furnished house and lot inside Forbes Park, Makati (with swimming pool, den, lanai, 10 bathrooms, and garage space for 15 cars)
Lot area: 2,000 sqm
Floor Area: 1,750 sqm
3. Urdaneta Village
Selling Price: P240 Million (P240,000,000 or US $4.58 Million)
What’s for sale: 4-bedroom, semi-furnished house and lot inside Urdaneta Village, Makati (with swimming pool, den, garden, 10 bathrooms, and parking space for 5 cars)
Lot area: 950 sqm
Floor Area: 660 sqm
4. Bel-Air Village
Selling Price: P270 Million (P270,000,000 or US $5.2 Million)
What’s for sale: 5-bedroom, fully furnished house and lot inside Bel-Air Village, Makati
Lot area: 525 sqm
5. Corinthian Gardens
Selling Price: P680 Million (P680,000,000 or US $13.0 Million)
What’s for sale: 14-bedroom house and lot inside Corinthian Gardens, Quezon City (with swimming pool, garden, 11 bathrooms, 24-seater home theater, and parking space for 6-8 cars)
Lot area: 2,050 sqm
Floor Area: 2,500 sqm
6. Greenhills East
Selling Price: P655 Million (P655,000,000 or US $12.5 Million)
What’s for sale: 6-bedroom house and lot inside Greenhills East, Mandaluyong City (with swimming pool and 6 bathrooms)
Lot area: 3,349 sqm
Floor Area: 1,340 sqm
7. Green Meadows Subdivision
Selling Price: P135 Million (P135,000,000 or US $2.6 Million)
What’s for sale: 5-bedroom house and lot inside Greenmeadows Subdivision, Pasig City (with swimming pool, koi pond, garage parking for 6 cars)
Lot area: 800 sqm
Floor Area: 805 sqm
8. Valle Verde
Selling Price: P120 Million (P120,000,000 or US $2.3 Million)
What’s for sale: 4-bedroom house and lot inside Valle Verde 3, Pasig City (with swimming pool, den, garage parking for 6 cars)
Lot area: 880 sqm
Floor Area: 700 sqm
9. Ayala Alabang
Selling Price: P165 Million (P655,000,000 or US $3.2 Million)
What’s for sale: 6-bedroom house and lot inside Ayala Alabang, Muntinlupa (with swimming pool, cabana, automatic-controlled gates, garden, and 6 toilet & baths)
Lot area: 1,100 sqm
Floor Area: 750 sqm
10. San Lorenzo Village
Selling Price: P300 Million (P300,000,000 or US $5.8 Million)
What’s for sale: 9-bedroom, 3-storey duplex inside San Lorenzo Village, Makati (with 3rd floor entertainment area, roof deck, and elevator)
Lot area: 578 sqm
Floor Area: 750 sqm