Camille Naredo

The Makati-Mandaluyong skyline in this photo taken on April 12, 2024.

The Makati-Mandaluyong skyline in this photo taken on April 12, 2024.   Gigie Cruz, ABS-CBN News

Article (news)

PH ECONOMY

Jekki Pascual

ABS-CBN News

MANILA -- Luxury condominium projects are on the rise in the Philippines. This segment has a price tag of a minimum P20 million up to over P100 million per unit. Property consulting firm Colliers Philippines said there is a trend now of developers choosing to build more luxurious residential buildings due to the higher demand. In 2023, 12 percent of the launches for the year was for the luxury segment and in 2024 that grew to 17 percent. For the upscale segment which is from P12 million to 19 million, it was 8 percent in 2023 and that jumped to 24 percent in 2024. In a country where many people has no proper roof, there’s a sector that has the capacity to buy millions of pesos worth of a residential unit. <div><a href="https://www.abs-cbn.com/news/business/2025/1/18/realtor-condo-oversupply-in-ncr-due-to-mismatch-in-inventory-demand-1910">Realtor: Condo oversupply in NCR due to ‘mismatch’ in inventory, demand</a></div>“It’s no longer surprising for example for SMDC/ SM Prime to launch projects in Muntinlupa, outside of Metro Manila for P100 million per unit. Rockwell, of course, their projects are doing very well. The likes of Shang Properties, Megaworld also their projects are also doing very well,” Colliers Philippines Research Director Joey Bondoc said. He added: “Developers are launching more of this luxury- meaning P20 million per unit, upper luxury P50 million, ultra luxury P100 million.” Bondoc pointed out some of the luxury projects are almost sold out: Rockwell’s Edades West which has a price tag of P554,000/ sqm is now 92 percent sold and Shang Robinsons Properties’ Aurelia Residences at the Bonifacio Global City, with a price of P543,000/ sqm, now 90 percent sold. Both properties has a total contract price of over P100 million per unit. “This luxury market is awash with cash… This is the market that does not depend on mortgage rates and mortgage rates are increasing,” he added. Bondoc said most of the buyers in this segment are the wealthy who wanted a second or third home- either as a rest house or for investment. This sector also does not depend on the movements of the inflation rate or the monetary policy rates- hence it’s a more stable market for developers. <div><a href="https://www.abs-cbn.com/news/business/2025/1/6/condominium-rental-prices-lowest-in-15-years-expert-2146">Condominium rental prices lowest in 15 years: expert</a></div>This trend is also not just in Metro Manila, as many luxury projects are also being built in the provinces including Cebu and Pampanga. “The repeat buyers of premium developers. For example, Rockwell, if you already have a condominium unit, ultra luxury in Metro Manila, Rockwell Center, you’ll probably look for other locations where you can achieve a very high price appreciation potential. So you go to Cebu- Villas at Aruga by Rockwell,” he said. Colliers sees this trend to continue growing in the coming years. There are 30,500 ready-for-occupancy units that are available as of the second quarter of 2025. Of this, only 3 percent are luxury. 32 percent are the affordable segment, 22 percent lower mid-income segment, and 21 percent economic segment.

Luxury condominium projects are on the rise in the Philippines. This segment has a price tag of a minimum P20 million up to over P100 million per unit.

Luxury condominium projects are on the rise in the Philippines. This segment has a price tag of a minimum P20 million up to over P100 million per unit.

Luxury condos in PH on the rise

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Luxury condos in PH on the rise

Jekki Pascual,

ABS-CBN News

Published July 30, 2025 11:43 PM PHT

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Colliers

Real estate

Philippines

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