Where are the most expensive residential areas in the country? Where do the richest people in the Philippines live? Take your pick: Ayala Alabang, Forbes Park, Dasmarinas Village, BGC, Makati, Cebu or Davao?
It is a given that most of the Philippine elite reside in high-end and super-exclusive villages in the country. We’re already familiar with posh residential areas such as Forbes Park, Dasmarinas Village, and Ayala Alabang. But which one really is the most expensive? Which subdivisions command the highest prices in the Philippines?
The answers can be found in a Property Market Research Report made by Leechiu Property Consultants. Let’s see below which residential areas currently have the highest property prices and land values. And then scroll below to see which ultra-super-duper expensive houses are currently for sale in the Philippines!
Most Expensive Subdivisions in the Philippines
Which residential village is most expensive: Ayala Alabang, Dasmarinas Village, or Forbes Park?
The answer: it’s actually Dasmarinas Village, with a residential lot in Dasma selling for P374,000 per square meter (sq. m.).
This means if you are to buy a 1,000 sq. m. lot inside Dasmarinas Village, be ready to shell out at least P374 Million! Take note, that’s just the purchase price of a lot — house not included!
Here’s a summary of property prices (lot only) in the most expensive residential subdivisions in the country.
| Residential Area / Subdivision | Lot Price per Sqm (in 2018) | To buy 1,000 sqm lot, you will have to pay... |
|---|---|---|
| 1. Dasmarinas Village (Makati) | P374,000 | P374 Million |
| 2. Forbes Park (Makati) | P300,000 | P300 Million |
| 3. Urdaneta Village (Makati) | P270,000 | P270 Million |
| 4. Corinthian Gardens (Quezon City) | P252,000 | P252 Million |
| 5. Greenhills East (San Juan) | P210,000 | P210 Million |
| 6. Greenmeadows (Quezon City & Pasig) | P160,000 | P160 Million |
| 7. Valle Verde (Pasig) | P150,000 | P150 Million |
| 8. Ayala Alabang (Muntinlupa) | P95,000 | P95 Million |
| 9. Hillsborough Alabang (Muntinlupa) | P58,000 | P58 Million |
Although most of us are familiar with the high-end village Forbes Park, apparently, it is no longer the most expensive residential village in the Philippines.
Yes in just 5 years, the lot price in Forbes Park has actually more than doubled from P130,000 per sq. m. (in 2012) to P280,000 per sq. m. (in 2017). But starting 2012, it already lost the crown as the “most expensive subdivision” in the Philippines to Dasmarinas Village in Makati, making the latter the residential location with the highest land valuation in the country.
Photos of Manny Pacquiao’s house in Forbes Park
Forbes Park has long been considered as the residential area for the Philippine elite, providing a secure and exclusive enclave for Filipino billionaires, top-notch CEOs, wealthy politicians, and yes, famous celebrities like Manny Pacquiao.
Pacquiao’s multi-million dollar earnings from his boxing career gave him the financial muscle to afford an opulent and palatial mansion inside Forbes Park. In 2011, Manny and Jinkee Pacquiao acquired a Forbes Park house for a staggering P388 Million — roughly $9.5 Million.
The mansion, located on Cambridge Street, North Forbes is around 1,500 sq. m. in size, reportedly with a vast tennis court inside the property, according to ABS-CBN. It was previously owned by Lorenzo Tan, former president of Rizal Commercial Banking Corp. (RCBC).
In 2019, the renovation of Pacquiao’s Forbes Park house caused a ruckus in the architecture scene after David Kaufman, owner of natural stone company Kaufman Stone, lamented the Pacquiaos’ decision to replace natural stone in the house with porcelain tiles.
Pep magazine reported that Kaufman was “shocked” with Manny and Jinkee Pacquiao’s plan to demolish the “thousands of square meters of first class beautiful Kaufman CCP travertine, Onyx and the best African granite.”
“Please explain what is going through their minds,” wrote Kaufman in a Facebook post. “Imagine tiling with fake stone the facade of the CCP by [National Artist] Leandro Locsin. What a loss. Sorry, national disaster!”
Here are photos of Manny Pacquiao’s house inside Forbes Park, courtesy of Real Living magazine. Guess what, it’s currently listed as the most expensive house for sale in the Philippines.
You got P1.5 billion ($30.6 million)? That’s the selling price of Manny Pacquiao’s house in Forbes Park.
Lot Prices in High-end Residential Areas in the Philippines
Where are the other prime real estate locations in the Philippines?
Here’s another property market report from LeeChiu Property Consultants showing historical price trends in upscale villages and subdivisions in the country from 1972 until 2017.
| Subdivision | 1972 Price per sqm | 1982 Price per sqm | 1992 Price per sqm |
|---|---|---|---|
| Dasmarinas Village (Makati) | P200 | P1,500 | P10,500 |
| Forbes Park (Makati) | P228 | P1,750 | P10,500 |
| Urdaneta Village (Makati) | P195 | P1,400 | P6,875 |
| San Lorenzo Village (Makati) | P175 | P1,375 | P5,550 |
| Bel-Air Village (Makati) | P188 | P1,300 | P8,500 |
| Ayala Alabang (Muntinlupa) | P170 | P300 | P10,000 |
| Subdivision | 2002 Price per sqm | 2012 Price per sqm | 2017 Price per sqm |
|---|---|---|---|
| Dasmarinas Village (Makati) | P42,000 | P180,000 | P345,000 |
| Forbes Park (Makati) | P57,500 | P130,000 | P280,000 |
| Urdaneta Village (Makati) | P41,470 | P85,000 | P250,000 |
| San Lorenzo Village (Makati) | P20,428 | P110,000 | P260,000 |
| Bel-Air Village (Makati) | P28,758 | P159,000 | P260,000 |
| Ayala Alabang (Muntinlupa) | P22,500 | P65,000 | P95,000 |
In Dasmarinas Village, the going rate for a piece of land in 2017 was a staggering P345,000 per sq. m. Yup, that’s just for one square meter of land. The house and any other improvements are not yet included. In 2018, the lot price further rose by 8.4% to a whopping P374,000 per sq. m.
Forbes Park, meanwhile, had lot prices selling for P10,500 per sq. m. back in 1992, just less than 30 years ago. Although the price looked cheap back then, buying a 1,000-sq m lot (again, just the lot, house not included) would have cost a buyer P10.5 Million, still a pricey amount for a vacant lot during that time.
By 2018, lot prices inside Forbes Park have grown to P300,000 per sq. m. Again take note, constructing the house will be another multi-million peso expense for the buyer.
Other high-end residential areas in the Philippines and their lot prices in 2018 are:
- Urdaneta Village in Makati – P270,000 price per sq. m.;
- Corinthian Gardens in Quezon City – P252,000 price per sq. m.;
- Greenhills East in San Juan – P210,000 price per sq. m.;
- Greenmeadows in Quezon City & Pasig – P160,000 price per sq. m.;
- Valle Verde in Pasig – P150,000 price per sq. m.;
- Ayala Alabang in Muntinlupa – P95,000 price per sq. m.;
- Hillsborough Alabang in Muntinlupa – P58,000 price per sq. m.
Most Expensive Condo Units in the Philippines
What about condominium units? Which ones are the most expensive condos in the Philippines?
Property market research data shows that Discovery Primea condo in Makati appears to be the most expensive condo in terms of unit price. With a rate of P322,000 per sq. m., if you buy a 400 sq. m., 2-bedroom unit in that condo, be ready to shell out — wait for it — P130 Million cash!
Other expensive condo units in the Philippines include The Residences at Greenbelt which sells for P250,000 per sq. m., while The Edades Tower condo goes for P243,000 per sq. m.
Meanwhile, units in two popular condos in Fort BGC — One Serendra and Arya Residences — each have listing price of P220,000 per sq. m. in 2017.
Interestingly, the prices of these expensive condo units appear to rival that of high-end lots mentioned earlier. See below the going price, per square meter, of a condo unit in ultra-expensive condominium buildings in the Philippines.
| Residential Condo | Price per Sqm (in 2017) |
|---|---|
| 1. Discovery Primea (Makati) | P322,000 |
| 2. The Residences at Greenbelt (Makati) | P250,000 |
| 3. Edades Tower (Makati) | P243,000 |
| 4. One Serendra (BGC) | P220,000 |
| 5. Arya Residences (BGC) | P220,000 |
| 6. The Grove (Ortigas Center) | P140,000 |
| 7. Escalades at 20th Avenue (Quezon City) | P135,000 |
| 8. Pearl Palace Tower 1 (Ortigas Center) | P125,000 |
Prices of High-End Condos in the Philippines
Although most condominiums in the Philippines don’t offer land ownership, prices of condo units have continued to surge, especially in condos located in commercial business districts.
Here are price ranges of premium condominium units in Metro Manila, based on LeeChiu’s property report for 2018.
| Location | High-End Condo (Minimum Price) | High-End Condo (Maximum Price) |
|---|---|---|
| BGC / McKinley Hill | PHP 159,125 per sqm | PHP 302,588 per sqm |
| Makati | PHP 164,600 per sqm | PHP 294,827 per sqm |
| Bay Area, Pasay | PHP 197,441 per sqm | PHP 200,552 per sqm |
| Alabang | PHP 112,320 per sqm | PHP 192,215 per sqm |
| Libis, Quezon City | PHP 107,913 per sqm | PHP 151,263 per sqm |
| Ortigas Center, Pasig | PHP 136,480 per sqm | PHP 144,320 per sqm |
| Mandaluyong | PHP 92,935 per sqm | PHP 119,144 per sqm |
| Paranaque | PHP 72,130 per sqm | PHP 92,300 per sqm |
As expected, The Fort BGC in Taguig City leads the prices of condo units in the country, with peak price of P302,588 per sq. m. in 2018. This means a unit in that condo with size of 100 sq.m. will sell for more than P30 Million — and that’s a bare unit with no furnishings.
The country’s central business district, Makati, trails behind with maximum condo price of P294,827 per sq. m.
Meanwhile, the Bay Area in Pasay City is catching up and has now reached a condo peak price of P200,522 per sq. m., thanks to the burgeoning casino and gaming businesses in the Entertainment City.
Most Expensive Houses For Sale in the Philippines
Wondering how the houses of the rich in the Philippines look like?
We scoured property classified ads websites Lamudi, Zipmatch, Property24, and DotProperty to have a sneak peek on houses for sale inside ultra-exclusive and uber-expensive villages and subdivisions in the Philippines. Here’s what we found.
If you’ve got the money — and by that we mean, hundreds of millions of pesos — take your pick and buy any of these houses currently available for sale!
1. Forbes Park House for Sale (P1.5 Billion)
This looks like the Pacquiao’s house in Forbes Park. It’s now for sale at a price of P1.5 Billion, yes that’s B as in 1.5 billion pesos! (Source: Property24)
Selling Price: P1.5 Billion (P1,500,000,000 or US $30.6 Million)
Lot area: 1,525 sqm
Floor Area: 2,000 sqm
For Sale:
- 3-storey house
- 5 bedrooms (5 BR)
- 5 full toilet & bath (5 T&B)
- Theater room
- Music room
- Infinity swimming pool with jacuzzi
- 10-car parking garage
- Fully furnished
2. Dasmarinas Village House for Sale (P1.45 Billion)
This 7-bedroom mansion in Dasma Village in Makati is being sold for P1.45 Billion. (Source: Lamudi)
Selling Price: P1.45 Billion (P1,450,000,000 or US $29.5 Million)
Lot Area: 1,486 sqm
Floor Area: 1,200 sqm
For Sale:
- 7 bedrooms (7 BR)
- 6 toilet & bath (6 T&B)
- With swimming pool
- 10-car parking garage
3. Corinthian Gardens House for Sale (P870 Million)
This 2,500 sq m, 6-bedroom house in Corinthian Gardens is priced to sell at P870 Million. (Source: Lamudi)
Selling Price: P870 Million (P870,000,000 or US $17.7 Million)
Lot Area: 2,049 sqm
Floor Area: 2,500 sqm
For Sale:
- 6 bedrooms (6 BR)
- 8 toilet & bath (8 T&B)
- 8-car garage
- With home theater
- With swimming pool
4. Urdaneta Village House for Sale (P380 Million)
This 5-bedroom house in Urdaneta Village in Makati is being sold for P380 Million. The agent interestingly posted the ad, describing the property as “old pero pwede pa.” (Source: DotProperty)
Selling Price: P380 Million (P380,000,000 or US $7.7 Million)
Lot Area: 1,026 sqm
Floor Area: 900 sqm
For Sale:
- 5 bedrooms (5 BR)
- 5 toilet & bath (5 T&B)
5. Greenhills, San Juan House for Sale (P283 Million)
This brand-new, 5-bedroom house in Greenhills, San Juan is for sale at a price of P283 Million. (Source: DotProperty)
Selling Price: P283 Million (P283,000,000 or US $5.8 Million)
Lot Area: 940 sqm
Floor Area: 1,400 sqm
For Sale:
- 6 bedrooms (6 BR)
- 8 toilet & bath (8 T&B)
- 5-6 car garage
- Porch Foyer
- High Ceiling Living Area
- With Swimming Pool and Outdoor Gazebo
- Remote controlled lights aircon and pipe in music
- Solar Powered Roof, Solar Powered Heater
- Elevator from Sweden
6. Green Meadows House for Sale (P280 Million)
This 6-bedroom, 6-car garage house in Green Meadows subdivision is being sold for P280 Million. (Source: Property24)
Selling Price: P280 Million (P280,000,000 or US $5.7 Million)
Lot Area: 805 sqm
Floor Area: 1,200 sqm
For Sale:
- 6 bedrooms (6 BR) with individual toilet & bath
- 6-car parking garage
- Theatre room
- Swimming pool
- Koi pond
- Maids room with T&B
- Drivers room with T&B
7. Ayala Alabang House for Sale (P230 Million)
This 7-bedroom modern, brand-new house in Ayala Alabang, Muntinlupa is for sale at P230 Million. (Source: Lamudi)
Selling Price: P230 Million (P230,000,000 or US 4.7 Million)
Lot Area: 730 sqm
Floor Area: 1,200 sqm
For Sale:
- 2-story house with basement
- 7 Bedrooms (7 BR)
- 7 Toilet & Bath plus a powder room
- 6-7 car garage
- Den & storage room
- Drivers and Maids room
- With swimming pool
8. Bel-Air Village House for Sale (P220 Million)
This 5-bedroom house and lot in Bel-Air Village Makati is for sale at a price of P220 Million. (Source: Zipmatch)
Selling Price: P220 Million (P220,000,000 or US $4.5 Million)
Lot Area: 461 sqm
Floor Area: 500 sqm
For Sale:
- 5 Bedrooms (5 BR)
- 5 Toilet and Bath (5 T&B)
- Office Room
- Maids’ Room w/ T&B
- Driver’s Room w/ T&B
- 4 Car Garage
9. Valle Verde House for Sale (P206 Million)
This 6-bedroom, 6-car garage Valle Verde 2 house is for sale at a price of P206 Million. (Source: ZipMatch)
Selling Price: P206 Million (P206,000,000 or US $4.2 Million)
Lot Area: 529 sqm
Floor Area: 1,000 sqm
For Sale:
- 3-storey house with balcony
- 4 bedrooms (4 BR)
- 4 toilet & bath (4 T&B)
10. San Lorenzo Village House for Sale (P200 Million)
This 7-bedroom house and lot (2-unit duplex type) with swimming pool in San Lorenzo Village Makati is priced to sell for P200 Million. (Source: DotProperty)
Selling Price: P200 Million (P200,000,000 or US $4.1 Million)
Lot Area: 560 sqm
For Sale:
- Unit A – 4 bedrooms, 1 home theatre, furnished, currently tenated
- Unit B – 3 bedrooms, semi furnished, with pool, currently tenanted