Makati condos still NCR’s most expensive

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CONDOMINIUMS in Makati City are still the highest priced among the National Capital Region’s cities, research by The Manila Times found.

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The average sale price for one-bedroom condominiums in Makati reached P15.17 million in 2016, with the most expensive units listed in excess of P32 million. The city of Taguig, home to Bonifacio Global City, was a close second with one-bedroom units averaging P13.26 million.

Trailing some distance behind Taguig was San Juan, the third most expensive market in Metro Manila with new one-bedroom condos averaging just under P7.43 million.

Pasay City, which is home to Megaworld’s Newport City and the Mall of Asia complex, was just slightly less expensive than San Juan with an average price of P7.31 million.

Rounding out the top five was the City of Manila, where average condo prices have risen to P6.35 million, thanks to new developments along Roxas Boulevard and in Binondo.

The three cities that share the Ortigas district, Mandaluyong, Pasig, and Quezon City ranked sixth, seventh, and eighth, with average one-bedroom prices of P6.09 million, P5.05 million, and P4.96 million, respectively.

The most affordable cities in Metro Manila are in the south; average prices of one-bedroom condos in Parañaque, Muntinlupa, and Las Piñas as of midyear were P4.28 million, P3.99 million, and P3.4 million, respectively.

According to the Bangko Sentral ng Pilipinas (BSP) Residential Real Estate Price Index, real estate prices for all types of real estate in the NCR increased by 9.7 percent year-on-year in the first quarter of 2016, with the price of condominiums increasing 13.8 percent from a year earlier.

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