Luxury condos are proliferating in Metro Manila

Luxury condos grows rapidly in Manila.Why?

"The trend is going there because we are attracting a lot of expatriates as well as expanding multinationals. So as we see those coming in, we're going to have to supply their living needs," Alexandra Katindig, investment and capital markets manager at CBRE Philippines

For 2015, most of the new supply of residential units to be turned over are in Quezon City with 13,400 units; 7,600 units in Makati; and 4,200 in Taguig.

Rental rates for residential condo units, meanwhile, remained stable in 2014.

Condo units in Ayala Ave. posted the highest monthly rental rates of P100,000 to 180,000 while condo units in Legaspi and Salcedo in Makati offer rental rates of P80,000 to P90,000; P120,000 to P210,000 in Rockwell; and P170,000 to P200,000 in Fort Bonifacio.

For luxury homes, Forbes Park remains to have the highest rental rates at P300,000 to P550,000 a month, followed by Dasmarinas Village at P230,000 to P500,000; and Ayala Alabang at P90,000 to P180,000.

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