This article on the Makati condo market appears in the Dot Property Group Philippine Real Estate Year in Review. Click here to download the full report.
The Makati condo market is unique for Metro Manila as it attracts the most diverse range of buyers. Unlike other cities in the National Capital Region, there is no one dominate unit size or price point. Over the years, developers have launched all types of residential projects, including mass condominiums targeting young professionals and ultraluxury residences.
A great example of this can be seen when you look at market demand in terms of popular price points. The PHP5-10 million segment accounted for 26 percent of all Makati condo inquiries made via the Dot Property Group network of websites last year. This was followed by the PHP20-50 million (24 percent), PHP10-20 million (21 percent) and PHP5 million and less (17 percent) price points.
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The fact less than 10 percent separates these four segments highlights just how the Makati condo market continues to attract a diverse range of buyers. That being said, interest in condos priced at PHP50 million and above was relatively limited last year and now noticeably trails Taguig.
In terms of size, studio/one-bedroom units generated 43.3 percent of demand in 2022 followed by two-bedroom condos at 34.4 percent. This makes it one of only a few cities in the NCR where demand for studio/one-bedroom units comprises less than 50 percent of all interest.
Interest in the Makati condo market peaked during the third quarter before noticeably retreating over the final three months of 2022. The city remains the second most popular place to buy a unit and is well ahead of Quezon City in terms of demand.
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