This article on interest in Makati condos appeared in the Dot Property Group Metro Manila Condo Market Report 1st Half 2022. Download it here for free!
Interest in Makati condos increased during 2022 with units priced between PHP5-20 million being the most popular. And while this part of Metro Manila is known as one of the city’s key business districts, a return to the office didn’t lead to a noticeable increase in demand until May and June.
This makes it quite different from other areas in the National Capital Region which began to recover as early as January. The situation in Makati was relatively stagnant until the second quarter of this year when the condo market here finally took off.
Interest in Makati condos, especially ones at the higher ends of the market, is seemingly being impacted by Taguig where newer developments catering to post pandemic needs are proving to be a hit among buyers.
Nearly 50 percent of all inquiries made to the Dot Property Group for Makati condos in the first half focused on studio and one-bedroom units. Meanwhile, two-bedroom residences comprised 32.5 percent of this demand.
The PHP5-10 million segment remains the most popular in Makati followed by the PHP10-20 million and PHP20-50 million price points. Interest in Makati condos priced at PHP50 million and above has been relatively flat over the past three quarters and now noticeably trails Taguig.
While interest in Makati condos hasn’t spiked like we’re seeing elsewhere in Metro Manila, it remains the second most popular place to buy a unit and is well ahead of Quezon City in terms of demand.