Apartment prices in Makati, Philippines: prime 3BR condos (PHP/ sq. m.)
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')
Quarterly change in house prices, inflation-adjusted
| Q1 | Q2 | Q3 | Q4 | |
| 2025 | 1.85% | 2.14% | -7.56% | |
| 2024 | -0.09% | 1.83% | -2.10% | 4.15% |
| 2023 | 0.02% | 5.26% | 1.05% | -3.73% |
| 2022 | -2.61% | -0.48% | 2.88% | -0.01% |
| 2021 | -2.54% | 4.67% | -0.20% | -0.02% |
| 2020 | 3.43% | 10.19% | -14.55% | 0.24% |
| 2019 | 1.28% | -1.93% | 8.58% | 0.05% |
| 2018 | -3.07% | 0.76% | -1.34% | -0.82% |
| 2017 | 1.81% | -2.15% | -1.16% | 4.15% |
| 2016 | 3.62% | -2.20% | 0.31% |
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 |
| 2025 | 0.15% | 1.90% |
| 2024 | 3.73% | 6.74% |
| 2023 | 2.42% | 6.45% |
| 2022 | -0.30% | 7.73% |
| 2021 | 1.78% | 4.91% |
| 2020 | -2.38% | 0.83% |
| 2019 | 7.89% | 10.44% |
| 2018 | -4.44% | 0.50% |
| 2017 | 2.55% | 5.54% |
This table shows how house prices have changed over each year. It compares the latest quarter or month of a given year with the same period the year before, so you can quickly see whether prices went up or down over that year.
