Trend: prices of 3-bedroom condominium units in Makati CBD up 8.45% y-o-y in Q2

The Philippines’ housing market continues to grow stronger, with the average price of 3-bedroom condominium units in Makati CBD rising by 8.45% during the year to Q2 2017. Housing prices increased 2.81% during the latest quarter.

Analysis: no reason for the housing market to slow.   

Makati CBD property prices have risen more than 49% from Q1 2011 to Q4 2016, amidst rapid economic growth.  Yet prices are not high, and yields are good, and the Philippine economy is in the 6th year of strong growth.   

Rents, rental yields; good yields at 6.13%

Metro Manila apartment costs are moderate, at around $3,952 per sq. m. 

Philippines: city centre apartment, buying price, monthly rent (120 sq.m.) 
   Buying price  Rent per month  Yield
 Metro Manila  $474,240  $2,422  6.13%

Recent news: The Philippine economy is projected to expand between 6.5% and 7.5% this year. The intelligentsia's unhappiness about President Duterte's war on drugs has not yet affected popular opinion and so does not threaten political instability, though the long-term implications of Duterteism are worrying.