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Saturday, July 25, 2015

How Much Rent Should You Expect From Metro Manila’s Most Exclusive Subdivisions?


Wazzup Pilipinas!

If you are looking to rent a house in one of Makati’s exclusive subdivisions or gated communities, expect to pay more—in fact, way more.

Crunching data from its 80,000-plus property listings, global property website Lamudi Philippines (www.lamudi.com.ph) ranked Metro Manila’s most exclusive enclaves based on the average rent of listed houses. 

Leading the pack is the very exclusive Forbes Park—known as the home of business tycoons, ambassadors, and boxing icons—where the average rent stands at Php402,459. As of this writing, there are more than 60 houses for rent in the community, while the average number of bedrooms is 4.3. At 1,637 sqm, Forbes Park also boasts the largest average residential lot size anywhere in Metro Manila.

Coming in second is nearby Dasmariñas Village, where average monthly rents stand at Php276,340, followed by Urdaneta Village at Php269,984, and Bel-Air at Php182,240. The average number of bedrooms of rental houses in these three villages is 4.11, 3.8, and 3.6, respectively.

The posh Ayala Alabang in Muntinlupa City is fifth, where monthly rents average Php174,121. Rental houses in this village are also relatively bigger, with average number of bedrooms of 4.15.

Pasig’s Valle Verde and Makati’s San Lorenzo Village come in at sixth and seventh place, where for-rent houses charge almost similar rates (Php147,792 and Php147,216, respectively). Houses in Valle Verde are also slightly bigger (average: 3.66 bedrooms) than those found in San Lorenzo Village (average: 3.24 bedrooms).

Meanwhile, the “cheapest” among these exclusive subdivisions is Magallanes Village in Makati, where rents average Php114,213 per month.

According to Lamudi, other expensive subdivisions such as Quezon City’s Corinthian Gardens and Ayala Heights, and Taguig’s McKinley Hills Village were not considered as these places have too few listed rental houses.

Lamudi Philippines managing director Jacqueline van den Ende said that this price-comparison analysis will become a regular part of Lamudi’s quarterly report, which aims to enable real estate brokerages and tenants gain deeper insight into Metro Manila’s leasing market.

She adds that in future it will be interesting to include not just price movements but also how long do rental homes stay in the market, which would help leasing agents better plan their marketing strategy.

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