By Richmond S. Mercurio (The
Philippine Star) | Updated January 29, 2015 - 12:00am
MANILA, Philippines - Buying a
condominium in Metro Manila? Las Piñas offers the cheapest prices on the
average, according to global online property platform Lamudi.
In its latest report, Lamudi
Philippines said property seekers on the hunt for a reasonably-priced
condominium should consider buying in Las Piñas as it emerged as the city with
the lowest average condo prices in Metro Manila.
The report showed average price of
condominiums in the city stands at P49,849 per square meter, cheaper than
anywhere else in the metro.
Makati, on the other hand, has the
most expensive condominiums, with units costing an average of P139,012 per
square meter.
That would bring the selling price of
an average 120-square meter condo in the country’s prime business district at
about P16.68 million, Lamudi said.
Lamudi, however, said although
Makati’s property market is quite pricey, the city has a wide array of condo
properties available which ranges from a very expensive P388,888-per-square
meter branded residence in Ayala Center, to an affordable P27,137-per-square
meter medium-rise condo in San Antonio Village.
Taguig came as having the second most
expensive condominiums with an average asking price of P126,129 per square
meter.
The report revealed that condominiums
in Taguig’s Bonifacio Global City (BGC) area command the highest prices, with
the most pricy reaching about P333,333 per sqm.
The cheapest condo in Taguig is
located in the outskirts of BGC, costing P23,333 per square meter, the report
showed.
Lamudi said Pasay and Quezon City have
almost identical average condo prices at P104,685 and P101,277 per square
meter, respectively.
The Lamudi data showed that average
condo prices in Manila, Mandaluyong, San Juan, and Pasig are at P95,134,
P88,174, P87,294, and P80,329 per square meter, respectively.
The online property platform, however,
said no data was generated for Marikina, Valenzuela, Pateros, Malabon,
Caloocan, and Navotas due to lack of condo listings in these cities.
Lamudi is a global property portal
focusing exclusively on emerging markets, generating about one million visitors
per month. Its fast-growing platform is currently available in 28 countries in
Asia, the Middle East, Africa and Latin America, with more than 600,000 real
estate listings across its global network.
Jacqueline van den Ende, managing
director of Lamudi Philippines, said the report was designed to inform
Filipinos on property prices and to give a clear picture of how the real estate
market was behaving.
“The Philippine real estate market is
rapidly growing and what the market needs is hard data to inform Filipinos’
buying decisions,” Van den Ende said.
“In the future, our property price
analysis will also include not only of condos but also prices of houses,
commercial and office spaces, and industrial properties from across the
Philippines,” she added.
_____________________________________________________________
