What Can You Buy with a Million Pesos in the PH?

It’s a hypothetical question everyone enjoys thinking about: What would you do if you suddenly have a million pesos? For the cautious, they’ll say they would keep it in the bank. For the easygoing, they’ll splurge it on the latest cars or bags. But for the majority, the first thing that usually comes to mind is to buy property. It makes sense. In the financial aspect, it’s a good investment. In terms of physical and emotional well-being, it offers security and refuge.

Although buying a property with only a million pesos may seem too good to be true, it’s not impossible. Believe it or not, there are packages of house and lot for sale in Manila below one million. There are also condos and townhouses you can get without breaking the bank. If all the years of hard work allowed you to pool a million, then it’s time to jump into the property market. Here’s how far your one million can go, according to Lamudi listings:

In Mandaluyong…

Your best bet in this highly-urbanized city are foreclosed properties, which are taken over by either lenders or the government from owners who were not able to keep up with monthly house loan payments. These come with very attractive price tags, as financial institutions would want to dispose of them quickly. 

From Lamudi’s listings, you’ll find Mandaluyong properties specifically in Barangay Barangka Ilaya, a convenient location for professionals and families alike. It’s close to commercial hubs, such as Robinsons Cybergate Complex, Greenfield District, even Ortigas Center. It’s also near shopping malls like SM Light and SM Megamall, and transportation systems like the MRT-3. There will be plenty of play and work spaces around you.

Do take note that foreclosed properties are sold “as is,” which means the seller won’t make improvements before handing over the property. You want to work with a reliable broker so you won’t end up with a money pit. Remember, the goal is to stick to houses and lots for sale in Manila below one million.

In Quezon City…

You can actually get a nice, decent condominium unit under a million pesos in a rich municipality like Quezon City. In low to mid-rise buildings, young professionals can have an affordable studio unit that has 13 to 16 square meters. Young couples, on the other hand, can get a two-bedroom unit, which has a space of roughly 30 square meters.

If you browse through Lamdui’s listings, you’ll discover that the location of these condominium complexes is highly accessible. Some are near Mindanao Avenue, close to shopping malls such as SM North and Trinoma, schools like the University of the Philippines and Ateneo de Manila University, and the commercial district UP-Ayala TechnoHub. Mind you, these complexes are complete with basic amenities, like swimming pools, parking spaces, and basketball courts.

In Pasig City…

Even in the sea of exclusive villages and rigid commercial districts, you’ll still find affordable properties in this metropolis. Similar to Quezon City, condo units in low to mid-rise buildings are your top option. What’s different in Pasig is that you get a relatively bigger space. Some of the units priced at a million pesos offer 65 square meters, along with two bedrooms. Typically, people sell at a low price when they want to dispose of property fast, say, when they’re migrating overseas. 

Most of the properties are situated in Barangay Santolan. The location is near shopping malls, like Sta. Lucia East Grand Mall, Ayala Malls Feliz, and UP Town Center. It’s also close to major transportation system LRT-2. If you’re keen on living in this accessible location, start getting your finances in order. If you don’t want to max out your savings just yet, apply for a home loan.

In Muntinlupa City…

This city is popular for its high-end gated communities, but believe it or not, you will find properties worth under a million pesos here. Most of them are foreclosed condominium units. The spaces range from 45 to 50 square meters, offering one bedroom, so it’s ideal for professionals and young families. The location of the complexes is in Barangay Sucat, a promising locale near key transportation roads and systems, like the South Luzon Expressway (SLEX) and Philippine National Railways (PNR).

Again, remember that foreclosed properties will be sold to you as is. Inspect the property well. If you’re planning to flip it and make some cash out of it, you would want to tame the expenses from the get-go. 

Beyond the Metro…

In case you’re all set on getting a brand new house and lot for sale below 1 million, look outside of Metro Manila. The areas surrounding the metro are the next hot neighborhoods in the country. This includes Cavite and Rizal. The former is a fast-developing residential and commercial district, as cited in Lamudi’s Cavite Report 2019. The latter, specifically its municipality Taytay, is tagged as one of the next-wave cities expected to be a key information technology hub. The properties in these provinces range from P600,000 to P900,000. 

The space dimensions vary. Land sizes come in 35, 40, and 50 square meters. Meanwhile, floor areas range from 40 to 50 square meters. Some have two bedrooms, while others have three. The properties also feature basic amenities, such as a garage and a garden. You can enjoy village amenities too, like playgrounds, clubhouses, basketball courts, and even swimming pools. It’s the perfect home and neighborhood for a starting family. Take advantage of the Pag-IBIG loan to finance your purchase.

How far will your one million pesos go? In the Philippine real estate market, it can give you your next home sweet home or income property. Whatever you do, invest wisely.


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