Property prices in Singapore are finally on the rise after what seemed like an eternity in the doldrums. And while there is some excitement about this, when comparing condo quality and price between the island and Makati, the Philippines offers more.
Investors are attracted to the affordability of Makati condominiums, but there is still a sense that they don’t provide the same quality as those found in Makati. That couldn’t be further from the truth. Makati condominium units are just as good, if not better than their Singaporean counterparts.
From a market perspective, the price of condominiums in Metro Manila, including Makati, hit record highs with strong take-up rates in 2017. Experts remain bullish on the city’s condominium sector this year.
With that in mind, let’s compare condo quality and price using one of the Singapore’s most talked about projects, V on Shenton, with a few Makati properties currently listed on Dot Property.
V on Shenton
Unit– 1 bedroom / 42 square metres
Price– THB 35.7 million (SGD 1.5 million)*
Location– Downtown
Developer UIC has spared no expense in creating V on Shenton, the firm’s flagship project. There are 510 units in the 51-storey mixed-use development that boasts three levels of sky gardens, retail space and a full range of facilities. V on Shenton is situated upon the fringe of Singapore’s Central Business District with two public transit stops nearby.
Residences are available on a 99-year leasehold basis. The developer claims units will provide some of the best views in all of Singapore. The condominium is certainly a marvel and offers something different from what’s on offer.
*Figured based on the average asking price of a 1-bedroom unit currently available on the resale market.
100 West
Unit– 2 bedroom / 47 square metres
Price– PHP 6.3 million (SGD 162,000)
Location– Sen. Gil Puyat Avenue
Developer Filinvest has spared no expense in creating 100 West, an upscale condominium in the heart of Makati. With an extremely attractive price point and returns of seven percent, 100 West was named Best Investment Property at the Dot Property Southeast Asia’s Best of the Best Awards 2017.
100 West features modern, Scandinavian-inspired residential units that are unique to Metro Manila. Residents can also take advantage of some great amenities including an infinity pool, children’s areas, a fitness center and yoga studio. Best of all, for the price of one unit in V on Shenton, an investor can scoop up nine units in 100 West.
Proscenium at Rockwell
Unit– 1 bedroom / 62 square meters
Price – PHP 14 million (SGD 360,000)
Location– Rockwell Center
Promising modern living at its finest, The Proscenium Residences provide a peaceful retreat within the fast-paced business district of Makati City. The development is being designed by world-renowned architect Carlos Ott who is best known for his work on the Opéra Bastille in Paris. The condominium will be located within the Rockwell Center, a massive mixed-used development.
Perhaps more impressive than the design is the price available at the project. For one unit in V on Shenton, an investor could grab four units in The Proscenium Residences. With great amenities and a convenient location, this is a condominium that is sure to be popular with residents.
Trump Towers
Unit – 1 bedroom / 116 square meters
Price – PHP 49 million (SGD 1.25 million)
Location – Century City
Trump Towers could possibly be the most luxurious condominium in all of the Philippines. With only 250 units, the spacious interiors provide a level of exclusivity unmatched in Makati. The views from each condominium are breathtaking and residents can enjoy the best life has to offer here.
The facilities at Trump Towers are superb, providing the luxurious lifestyle people expect from the Trump brand. The building itself is set to be a Makati icon with its unique façade not only looking great, but also providing several environmentally friendly benefits. While it is only slightly cheaper than V on Shenton, the unit is more than two-times larger.
A final thought on comparing condo quality and price
Ultimately, Makati condominiums have reached the same level of quality as those in Singapore. As far as price goes, Makati units are far more affordable than similar ones in Singapore, however, there are a few reasons for this. At the end of the day, it is important to weigh up the pros and cons of each project’s location before making an investment decision.