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Lamudi price data reveals the cities with the most affordable and most expensive housing markets
Which Metro Manila cities have the most expensive houses, and which cities have the most number of properties under Php10 million? We analyzed Lamudi price data, mined from its listings of over a 60,000 in 2016 and ranked Metro Manila’s key cities from the cheapest to the most expensive in terms of average house prices. In addition, in order to paint a better picture of how the housing market of each city stands, their current listings at the time of this writing was also included, as well the price of its most expensive home currently for sale. The analysis does not include Pasay, Pateros, Navotas, and Malabon, as there are very few inventories from these cities.
Average house price: Php209.6 million (2016 data)
Number of listings: 697
Most expensive listing: Php1,346,280,000
Makati is Metro Manila’s undisputed king of expensive houses. In fact, six of the Philippine capital’s most exclusive gated communities or subdivisions are located here, where the homes of boxing icons, business tycoons, and politicians are found. Of Makati’s 697 listed houses for sale, almost 90 percent have asking prices of Php50 million or higher, while those inventories with asking prices of below Php50 million are located in Bangkal, San Antonio, and other barangays outside the central business district. The city’s most expensive inventory during the time of the analysis is a house located in Forbes Park with an asking price of Php1,346,280,000.
Average house price: Php59.5 million (2016 data)
Number of listings: 399
Most expensive listing: Php750 million
Muntinlupa is well known for Ayala Alabang Village, an exclusive gated community where hundred-million-peso homes are found. However, people looking to buy a home here will be pleased to know that the city offers plenty of choices. Thirty-five percent of the city’s for-sale inventories are between Php10 and Php50 million, and there are currently 71 houses listed under Php10 million, mostly in the Poblacion and Sucat areas.
Average house price: Php33 million (2016 data)
Number of listings: 163
Most expensive listing: Php120 million
The metro’s third most expensive city to buy a house in is Taguig, where one can find the townships of Bonifacio Global City and McKinley Hill. Taguig is also home to McKinley Hill Village, where the city’s Php50 million houses are found. Currently there are 67 listed properties in Taguig that have asking prices of Php50 million or above.
4. San Juan
Average house price: Php28.81 million (2016 data)
Number of listings: 200
Most expensive listing: Php290 million
San Juan may be Metro Manila’s smallest city, but it definitely makes up for it with pricy homes. In fact, the city’s most expensive listed house is on offer for a staggering Php290 million, while only 9 percent of San Juan’s for-sale inventories have asking prices of Php10 million or below.
Not surprisingly, all the properties are located in Greenhills, the residential and commercial district most synonymous with the city.
Average house price: Php20 million (2016 data)
Number of listings: 783
Most expensive listing: Php220 million
Pasig is another case where there are outrageously expensive homes and at the same time homes that are under Php10 million. Although the city’s most expensive house for sale has an asking price of Php220 million, more than 60 percent of the city’s houses for sale are pegged at Php10 million or lower.
There are currently 32 homes in Pasig with an asking price of Php100 million or more listed on Lamudi, with most being located in one of the Valle Verde Subdivisions in the city.
Average house price: Php18.52 million (2016 data)
Number of listings: 145
Most expensive listing: Php155 million
Mandaluyong is fourth in this list, with most of the city’s pricy houses found in the very exclusive Wack-Wack Village. While there are currently three houses listed with asking prices of more than Php100 million, about 76 percent of the city’s inventories have asking prices of Php10 million or below, giving a myriad of options for property-seekers with tighter finances.
7. Quezon City
Average house price: Php13.6 million (2016 data)
Number of listings: 11,142
Most expensive listing: Php1,189,580,000
As Metro Manila’s largest city, it is not surprising that Quezon City has the most number of home inventories (11,142). The city’s most expensive house is currently pegged at Php1,189,580.000; however, 67 percent of Quezon City’s listings have asking prices of Php10 million or below, as of this writing.
Average house price: Php11.9 million (2016 data)
Number of listings: 1,230
Most expensive listing: Php100 million
Parañaque is perhaps best known for its many, many subdivisions and gated communities. Although the most expensive listed house in Parañaque has an asking price of Php100 million, the city has over 1,200 listed houses for sale, offering homebuyers plenty of choices. In fact, 42 percent of the city’s for-sale inventories have asking prices of Php10 million or below.
Average house price: Php8.46 million (2016 data)
Number of listings: 301
Most expensive listing: Php235.2 million
The Philippine capital has very few landed houses within its jurisdiction; at present, there are only about 301 listed properties on Lamudi, and over 80 percent of them have asking prices of under Php10 million. The city’s most expensive listed property to date is an ancestral home with a lot measuring 1,850 square meters in total area, and sporting an asking price of Php235.2 million.
10. Las Piñas
Average house price: Php6.15 million (2016 data)
Number of listings: 1,501
Most expensive listing: Php79 million
Similar to Parañaque, Las Piñas has plenty of subdivisions or gated communities, but unlike nearby Ayala Alabang in Muntinlupa, most of these estates’ houses for sale are relatively more affordable. Of the city’s 1,501 listed properties, 1,305 have asking prices of under Php10 million.
Average house price: Php6 million (2016 data)
Number of listings: 317
Most expensive listing: Php125 million
Marikina, known for its shoe industry, also has another affordable housing market, where over 92 percent of the city’s listed houses for sale have asking prices of less than Php10 million. The city’s most expensive property is five-bedroom and five-bathroom home with an asking price of Php125 million.
Average house price: Php3.8 million (2016 data)
Number of listings: 52
Most expensive listing: Php18.5 million
Valenzuela is the second most affordable housing market on this list, with 95 percent of the city’s for-sale houses having asking prices of Php10 million and below. Its most expensive home currently listed on the Lamudi website, is not even twice of that range, with an asking price of Php18.5 million.
Average house price: Php2.9 million (2016 data)
Number of listings: 203
Most expensive listing: Php42 million
When it comes to affordability, Caloocan is the undisputed leader, with the average house price of Php2.9 million. Over 97 percent of the homes for sale in Caloocan are listed for Php10 million or lower, and over 63 percent have asking prices of less than Php3 million. In fact, there are currently 21 for-sale inventories priced at less than a million.
Main image via Deposit Photos