Buying property is a major achievement and is an even more significant chunk of your budget or money. The cost of the property itself is a huge cost, but there are also additional costs that you will encounter over time, even after you pay off the property and are officially owning the real estate that you bought.
With that said, it makes sense that people are looking for ways how to cut down their expenses when buying property. One of the best ways to do that is by choosing the right location.
Most often, people who are looking to buy property opt to buy them in Metro Manila. However, there are multiple cities in Metro Manila. The first thing you would usually think of would be where is the most affordable city to buy property in Metro Manila.
Before we cover where these places are, let’s first discuss why you should buy property in Metro Manila.
Why You Should Buy Property in Metro Manila
Although Metro Manila usually isn’t the most affordable place that you could think to buy property in, especially since there are many provinces or regions with lower costs of living, there are still a lot of reasons why you might want to consider buying property in Metro Manila.
One of the main reasons why someone would want to buy property in Metro Manila is because of the accessibility of a lot of things from here.
There are multiple transportation options and you can travel to a lot of places outside and inside the country here. There are multiple airports in Metro Manila.
Aside from that, there are some items, products, and services that are more readily available here than in any other part of the country. Thus, it’s much easier for you to find what you need from Metro Manila than in other parts of the country.
Variety of Options
When you’re interested in buying property of any kind, especially as a real estate investment, there are few places that offer as much variety of options as in Metro Manila.
Some places often just sell houses and lots and not many other options. However, if you go to Metro Manila, you’ll find a lot of other options outside of just a house and lot. You’ll have a lot more properties to choose from, especially from the different districts, sections, cities, and more within Metro Manila.
Aside from a variety of options for the property in general, you’ll also find different payment options, arrangements, and other categories for the property that you buy.
Another reason why you would want to buy property from Metro Manila is because of the different leisure activities that you can do there. There are all sorts of establishments that offer all kinds of activities that you can do to enjoy your time. There are also a lot of restaurants, cafes, eateries, bakeries, and more so it’s great for foodies as well.
If you want to get away from the hustle as well, you’ll find a lot of beach destinations that are relatively near Metro Manila as well. Therefore, you can really enjoy your time while you’re here no matter what type of activity you’re interested in doing.
For people who are buying property to live in, then Metro Manila is a great place for people to live because there are a lot of jobs here. There are plenty of business districts in multiple cities throughout Metro Manila so if you want, you can live near these business districts as well to make your travel time a lot easier.
There are also a lot of opportunities here in terms of your real estate to grow so that you can get a higher return on your investment.
What to Do Before Buying Property in Metro Manila
Before you start buying house and lot in Metro Manila, here are a few things that you should consider first.
Do Your Research
When you’re doing a huge purchase like buying a property, regardless of where you’re buying it from, it’s always a good idea to do your research.
Doing your research will help you find the right property based on your needs. Aside from that, it will let you know more about the profitability of your property overall and after a long time. The research can let you know if your investment will be worth it as well as which properties are the most profitable and which ones aren’t.
The research will also let you know which areas are most liveable based on your standards and what amenities are near you.
Check Your Budget
You can’t move forward without figuring out what your budget is since that will limit what you can afford in terms of properties here. Doing research beforehand can help you figure out how much your budget should be if you don’t know how much to save up, but it’s always a good idea to save a little extra for any unexpected expenses.
Identify Your Goals
Having clear goals can help determine what it is that you look for in a property. You will have different requirements for a property that you’re buying to live in for a long time and property that you buy as an investment. Therefore, identifying your goals first can help you narrow down your choices.
Top 6 Most Affordable Locations to Live in Metro Manila
Now that you know more about how to buy the right property for you as well as why you should buy property in Metro Manila, it’s time to know where are the most affordable locations to live in within Metro Manila
These cities are in no particular order, but they are some of the more affordable places to live within Metro Manila.
Average Price of Property per Square Meter (m²): PHP 27,116/m²
Navotas City is known to all as the commercial fishing hub of the Philippines because it has a huge fishing port within its boundaries. Before, it was a part of Malabon City, but it separated back in 1906.
One of the factors that might affect why it’s affordable to buy property here is that there is a noticeable lack of variety of options when it comes to properties to buy from here. However, it can be a great place to live if you want to live somewhere affordable.
Average Price of Property per Square Meter (m²): PHP 50,120/m²
Caloocan City is one of the most populated cities in Metro Manila. There are two different parts of Caloocan City: South Caloocan and North Caloocan.
The demand for housing in this area due to sheer population growth hasn’t quite affected the prices of property here just yet as it’s one of the most affordable cities in Metro Manila still. Therefore, if you want to find a place to live, Caloocan City can be a great place to find affordable options.
Average Price of Property per Square Meter (m²): PHP 44,300/m²
Valenzuela City is an idyllic area that’s become a more urbanized destination. It manages to ride this balance well as it’s still one of the quainter cities in Metro Manila. This area is fast becoming a popular place for factories to take root as well, and there’s an increase of lower-middle class residents that call this area their home.
If you want to live in Metro Manila, but don’t want to feel like you’re in the loud, bustling cities that you usually would associate with Metro Manila, then Valenzuela City can be a great option.
Average Price of Property per Square Meter (m²): PHP 58,066/m²
Another fishing center in the Philippines would be Malabon City. It’s also one of the densest cities in Metro Manila which can affect the price of properties in this neighborhood.
Many of the residential areas in Malabon City can access everything that you could need if you live there. Everything is reachable within this area so you can live comfortably there if you want.
One thing to watch out for would be the flood-prone areas if you’re going to live here for a long time, so make sure that you do your research.
Average Price of Property per Square Meter (m²): PHP 69,760/m²
Marikina City is a great place to travel to if you’re interested in culture and food. There are a lot of food spots here that locals from other parts of Metro Manila go to whenever they can. If you’re interested in living near places with a lot of restaurants and the like, this can be a great place to be.
There are also a lot of places that have walkable sidewalks, making it great for pedestrians as well. Everything is accessible from Marikina as well so you won’t have much issue getting to the places you need or getting the items that you need.
Average Price of Property per Square Meter (m²): PHP 81,520/m²
Las Piñas City is a city that’s in the southern part of Metro Manila, which might be the reason why it’s not as expensive as some of the cities that are right in the middle of the metro. Despite that, there are growing business districts here that are great for people looking to live near where they work.
Since it’s not as populated, the city is also not as polluted as other cities, making it greener and more eco-friendly.
Top 6 Most Expensive Locations to Live in Metro Manila
The next cities in this section would be cities that you might want to avoid buying property from if you have a limited budget on your hands.
Average Price of Property in Makati city per Square Meter (m²): PHP 262,800/m²
It comes as no surprise to everyone that one of the most expensive cities in Metro Manila would be Makati City. Since it has a lot of high-end shops and stores as well as subdivisions and communities, this city is home to a lot of upper-class people.
Another factor that’s contributing to how expensive it may be to live in Makati City would be that a part of it is a major business district filled with skyscrapers, high-rise buildings, and so on.
Average Price of Property in Taguig city per Square Meter (m²): PHP 207,120/m²
Another city on this list that’s not surprising to many of us, especially those who live in the metro, would be Taguig City. Taguig is definitely an expensive city to live in as it is also home to many expensive shops and restaurants and so on.
There’s also an active business district in this area where local and international companies stay and where many people work. Despite being smaller than some of the other cities in Metro Manila, it’s definitely one of the more expensive cities there.
Average Price of Property in Mandaluyong city per Square Meter (m²): PHP 177,260/m²
Although Mandaluyong City is quite far in price compared to its closest price point which is Taguig City, it’s still one of the most expensive cities to live in within Metro Manila.
As the Shopping Capital of the Philippines, you can expect a lot of boutiques, shopping centers, and malls, as well as other shops in this city. It may be the presence of these shopping areas that affect how much it costs to buy property in Mandaluyong City.
Average Price of Property in Manila city per Square Meter (m²): PHP 174,820/m²
Manila doesn’t feel like it’s as expensive to live there compared to the first three but buying property there can get quite expensive, especially if you plan on buying commercial properties there with prices of that kind of property costing around PHP 306,000/m² average.
Aside from that, though, the other types of properties from here are still cheaper than the rest of the cities on this list, so if you were to choose one from them, consider Manila City.
San Juan City
Average Price of Property in San Juan city per Square Meter (m²): PHP 164,400/m²
San Juan City is at the center of Metro Manila, so it is a great place to buy property if you want to live right in the middle of a metropolitan area. However, it comes with a price, which is why the property here is one of the most expensive to buy in Metro Manila.
There are a lot of prestigious schools located in this city as well as a lot of shops and malls in the area. These could be the factors that are causing this city to be an expensive place to buy property in Metro Manila.
Average Price of Property in Pasay city per Square Meter (m²): PHP 147,740/m²
There have been mid-income to luxury projects that are ongoing and have finished in Pasay City, which can be a driving force in the increase in prices of properties in this city. There are also major shopping hubs in this city that also affects the price of the property from here.
The Pasay Bay Area is particularly expensive because of the proximity to the waters as well. There are also hotels that stay in this area which affects their price.
There are plenty of affordable locations in Metro Manila for you to buy property in but they each come with drawbacks as well as advantages. However, if you have a limited budget, then these are some great options for you to consider buying property even in Metro Manila where it feels like everything might be too expensive for you.
If you do feel like you want to bite the bullet and buy property from these locations in Metro Manila, don’t hesitate to use Carousell to help you find the property for you. No matter where in Metro Manila you want to buy property in, there are listings on Carousell that you can choose from.
Good luck with the search for your next property buy!