Condos continue to rise in Metro Manila, and with each cities comes a range of prices when these properties are put up for rent.
With property prices in Metro Manila steadily on the rise, renting seems to be the more practical option to take. Condominiums stand out among rental property options, given their central locations and various amenities, and when taking into consideration the Metro Manila’s dense population and road traffic congestion
Despite the more-or-less similar stylings of these developments, the adage that no two properties are the same still applies, and aspects like size and location still influence the rate in which condos are leased. Based on the prices of the entirety of last year, get to know which cities in NCR offer the best condos for rent in terms of price, floor area, and number of bedrooms in 2017.
San Juan seemingly offers the least costly condos for rent, in terms of price per sqm, with an average rental rate of around Php470 per month. In contrast, Makati has the highest rental rates, with an average rate of approximately Php920 per sqm per month.
What’s notable about this is that those who spend a significant amount of time in Makati for work or their studies but would prefer to live in an area with more affordable rental rates may consider San Juan as a viable alternative. Granted, San Juan is far from Makati, but Las Piñas, with its similar rate of Php478 per month, is almost three times as far.
Manila (Php610 per month) and Quezon City (Php614 per month) are the next most affordable options in terms of average rental rate per sqm, but it is worth noting that both cities’ rental rates are higher by Php150 than prevailing rates in San Juan and Las Pinas. At the end of the day, however, the number of rooms per unit is being given greater consideration by many when selecting residential space.
One Bedroom Condominium Units
Although one bedroom units are not the most ideal choice for families, its central location and relatively lower price makes it ideal for young professionals establishing careers in the metropolis. Among areas with one bedroom condo listings on Lamudi, Las Piñas has the most affordable rental rates, with one bedroom units having an average rental rate of Php12,800 per month.
Following Las Piñas is Parañaque, where one bedroom units have an average rental rate of around Php17,700 per month. When considering the average rental rate per square meter, Manila (Php19,365 per month) and Quezon City (Php19,700 per month) are third and fourth most ideal locations for affordable one bedroom units for rent.
Makati has the highest average rental rate for one bedroom units, at just under P45,840 per month. Makati is followed by cities with key commercial and financial districts, as Taguig (Php42,000 average rental rate per month) and Mandaluyong (Php32,000 per month).
Two Bedroom Condominium Units
For those looking for condos for rent that are a little more suited for small groups or families, Parañaque proves to be the best option in terms of monthly rates for two bedroom condos, with units in the area having an average monthly rental rate of Php24,850. Makati’s two bedroom condos are the most expensive, as they command a rental rate of Php98,880 per month.
San Juan has the advantage over Parañaque to its more central location within Metro Manila, but two bedroom units there have a higher rental rate, at Php25,660 per month. Two bedroom condos in Las Piñas have reasonable rental rates, at Php28,040 per month, but being located in most southern part of Metro Manila may become an issue to those who commute to and from their workplaces in areas like Makati, Fort Bonifacio and Ortigas.
Often the most searched city in Metro Manila for property overall, Quezon City offers the next most affordable monthly rental rates for two bedroom units, but at an average of Php33,700 per month, the rates are still significantly higher than that of Parañaque, San Juan, or Las Piñas.
Three Bedroom Condominium Units
For those looking for a much larger living space but still complete with the convenience and amenities of condominium units, three bedroom units are the most likely choice. Keep in mind, however, that condos of this size are often of the luxury or penthouse variant, hence the high monthly rental rates, especially in most in-demand cities.
Taguig, with new property develops being launched and built in Bonifacio Global City, and, soon, Arca South, has the most expensive three bedroom units for rent, with an average rate of Php156,700 per month. Makati is not far behind, with a similarly significant average rental rate of Php150,700 per month. As the case is with one and two bedroom units, many affordable alternatives are seemingly available in the cities in the south of Metro Manila.
Having an average rental rate of Php38,265 per month, Parañaque has the least expensive three bedroom condos for rent, followed by Las Piñas, at Php42,500 per month. There are also relatively affordable choices in the northern part of Metro Manila, but having a relatively higher average rental rate, with Quezon City three bedroom condos, at Php47,260 per month, and San Juan’s at P59,700.
While these averages indicate the condo rental rate range of each city, it is not to say that it is impossible to find a condominium unit outside of it, as new spaces for rent are placed on the market on a daily basis. Rental property seekers can conveniently visit Lamudi and use the site’s filters to narrow down their search, and find the ideal space, in the right place, for a relatively fair price.
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