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Apartment prices in Makati, Philippines: prime 3BR condos (PHP/ sq. m.)
Philippines, Manila
Apartment prices in Makati, Metro Manila, Philippines.
We use Colliers Philippines quarterly reports, which cover condominium prices of 3-bedroom units in the Makati Central Business District (CBD). The series started in 1994.
Bangko Sentral ng Pilipinas, the country's central bank, recently launched a national quarterly Residential Real Estate Price Index, starting in Q2 2015.
House prices Makati CBD, % change 1 yr
Nominal and inflation-adjusted ('real')
Philippines, Manila
Sources: Colliers, Bangko Sentral ng Pilipinas
Quarterly change in house prices, inflation-adjusted
| Q1 | Q2 | Q3 | Q4 | |
| 2020 | 5.69% | -6.60% | ||
| 2019 | 6.35% | -17.63% | 4.34% | 8.27% |
| 2018 | 0.86% | 1.61% | 1.46% | 5.55% |
| 2017 | 2.64% | 2.72% | 0.62% | 1.56% |
| 2016 | 2.57% | 1.53% | 2.07% | 1.19% |
| 2015 | 5.58% | 2.27% | 2.36% | 1.68% |
| 2014 | 0.63% | 0.09% | 2.32% | 1.70% |
| 2013 | 1.17% | 5.98% | 1.59% | 0.80% |
| 2012 | 5.58% | 0.19% | -0.56% | 1.74% |
| 2011 | -1.38% | 1.61% | 0.65% | -0.62% |
| 2010 | -0.83% | 0.03% | 0.67% | -0.32% |
| 2009 | -2.26% | -1.02% | -1.95% | -1.76% |
| 2008 | -1.25% | 0.78% | -1.46% | 0.50% |
| 2007 | 3.53% | 1.43% | 2.05% | 3.47% |
| 2006 | -1.72% | 1.30% | 3.92% | 1.98% |
| 2005 | -1.18% | -0.64% | 2.25% | 0.78% |
| 2004 | -1.26% | 0.88% | 0.36% | 2.63% |
| 2003 | -1.13% | -1.17% | -0.35% | -0.35% |
| 2002 | -0.72% | -0.48% | -1.07% | -0.77% |
| 2001 | -5.65% | -4.65% | -0.85% | -0.36% |
| 2000 | -3.42% | -0.78% | -1.16% | -4.75% |
| 1999 | -5.01% | -0.83% | -7.22% | -0.68% |
| 1998 | -15.71% | -2.93% | -7.37% | -1.42% |
| 1997 | -1.95% | -1.28% | -1.27% | -1.56% |
| 1996 | -1.09% | -1.02% | 4.35% | -1.00% |
| 1995 | 7.66% | 7.14% | 19.36% |
This table shows the change in house prices during a single quarter, adjusted for inflation.
Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers.
Yearly change in house prices, nominal and inflation-adjusted
| Year | Inflation Adjusted | Nominal Change |
| 2019 | -1.03% | 0.87% |
| 2018 | 9.75% | 15.55% |
| 2017 | 7.74% | 10.46% |
| 2016 | 7.56% | 9.95% |
| 2015 | 12.38% | 13.43% |
| 2014 | 4.82% | 7.11% |
| 2013 | 9.80% | 14.37% |
| 2012 | 7.01% | 10.06% |
| 2011 | 0.24% | 4.77% |
| 2010 | -0.46% | 3.12% |
| 2009 | -6.82% | -2.50% |
| 2008 | -1.44% | 7.09% |
| 2007 | 10.88% | 15.15% |
| 2006 | 5.52% | 9.63% |
| 2005 | 1.18% | 6.89% |
| 2004 | 2.60% | 10.00% |
| 2003 | -2.97% | -0.78% |
| 2002 | -3.01% | -0.77% |
| 2001 | -11.14% | -8.24% |
| 2000 | -9.79% | -2.30% |
| 1999 | -13.20% | -9.38% |
| 1998 | -25.29% | -17.95% |
| 1997 | -5.93% | 0.00% |
| 1996 | 1.15% | 8.33% |
The yearly changes table looks at the last quarter's/month's index values for a given year and compares it with the same quarter/month of the previous year to gauge the change in house prices during that given year.