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What’s the Average Size (in Square Meters) of Condos in Metro Manila?

What’s the Average Size (in Square Meters) of Condos in Metro Manila?

Vertical living presents an excellent solution to the growing need for housing in Metro Manila and other metropolitan areas in the country. With land in urban areas becoming scarcer and more expensive, condos are increasingly becoming an attractive option to many, offering greater affordability compared to detached homes.

And with condo developments mushrooming all over the metro, it’s easy to find one that matches your needs and preferences. If you have a tight budget, there’s a wide selection of low to mid-priced condos that you can consider.

However, there are certain trade-offs to affordability, the most common of which is size. In Metro Manila and beyond, there’s a rising trend for small condos sized 50 sq. m. or less, typically in studio or one-bedroom layouts.

Small Is the New Normal

A Q4 2014 report from Collier’s International, as quoted in The Philippine Star, showed that:

“Of the more than 30,000 pre-selling condo units expected to be delivered in the Makati Central Business District, Fort Bonifacio, Rockwell Center, Ortigas Center, and Eastwood City from 2015 to 2018, 75 percent are studio and one-bedroom units, ranging in size from 18 to 90 square meters.”

And that:

“Some condo projects outside these areas have even been reported to sell units not bigger than 15.5 square meters.”

Here are the comparative residential lease rates of 3BR, semi-furnished to fully furnished condos in the metro as of Q2 2016 according to Colliers:

Location Average Rental (PHP/mo.) Average Size (sq. m.)
Apartment Ridge/Roxas Triangle 200,000 303
Salcedo Village 175,000 234
Legaspi Village 200,000 206
Rockwell 180,000 189
Fort Bonifacio 200,000 223

Zoning Requirements

The smaller unit sizes come with recent developments, and would have been unthinkable in the 1990s or earlier. They comply with the 2009 revisions to the Housing and Land Use Regulatory Board’s zoning regulations.

Specifically, the new regulations state that the minimum required square area for condos are:

  • 18 sq. m. for single-occupancy units
  • 12 sq. m. for single-occupancy units intended for students or workers, in condo developments within highly urbanized areas
  • 36 sq. m. for family-dwelling units in open market (high end) condo developments
  • 22 sq. m. for family-dwelling units in medium cost developments

Benefits of Small Condos

When it comes to living space, bigger may be the natural preference, but may not always be the better choice. Living in small condos comes with its own distinct advantages and attractions.

In addition to affordability, small condos offer the benefit of efficiency. Everything you need is easily within reach. You won’t have a hard time cleaning and organizing the place. Living in a compact space also gives you good reason to de-clutter and get rid of unnecessary stuff.

A smaller home also means less energy consumption. You not only save on utilities, you also get the chance to lower your carbon footprint.

A small home is also more cozy and intimate, and can provide you with a greater sense of warmth and comfort.

Planning Small Condo Living

In decorating and planning a small condo, you can take your cue from the model unit. Designed by professionals, model units often showcase how a condo’s limited space may be best optimized.

Consider modular space-saving furniture specifically designed for condo living. Some providers offer customization services to match your specific needs.

A small condo gives you plenty of opportunities to be creative. With a bit of imagination and careful planning, you can transform a limited space into the relaxing, stress-free haven you’ve always dreamed of having.

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When is the best time to sell a home in the Philippines?

When is the best time to sell a home in the Philippines?

Planning to sell your home soon? The timing of a home sale can make a big difference on how much profit you’re getting and how fast you can close.  In the Philippines, late January to May is when real estate activity is usually at its busiest. This also aligns with our data at Real.ph, where we often observe a spike in listing activity after the month of December.  There are a couple of reasons for this trend. One, the holiday season has just subsided. Two, filing of tax returns is concluded by mid-April. And three, the dry season makes it convenient for people to go out and see what the market has to offer.  These are all great conditions that can potentially lead to a profitable and fast sale. But the best time to sell your home will largely depend on your priorities and overall financial goals.  Since the perfect timing varies from person to person, here are home-selling tips that’ll help you find that sweet spot.    Major factors to consider before listing your property Before anything else, there are several factors that you’ll need to examine when you’re figuring out an ideal time to sell. One or a specific combination of these factors can be useful as you look for a home-selling strategy that works for you. Interest rates The Bangko Sentral ng Pilipinas (BSP) sets short-term interest rates, which determine how much the government lends money to local banks. When this borrowing rate increases, there’s a higher cost for people to access credit and make investments — making potential buyers less enthusiastic about applying for a mortgage. Conversely, when the rate is down borrowing is a more appealing option, and in the context of real estate, this is usually good news.  As of writing, housing loan interest rates are hovering between 1.25% and 12%. A government-backed institution like the Home Development Mutual Fund (PAG-IBIG) can offer a 10% rate on a 30-year loan. Meanwhile, private banks like Banco de Oro and Bank of The Philippine Islands offer 8% on a five-year loan and 12% on a 20-year loan, respectively.  The state of the economy Inflation and the significant rise in the price of goods is top of mind among many Filipinos.  In January 2024, the inflation rate was at 2.8% which is lower than the 3.9% recorded in the previous month December 2023. Overall, the latest figures published by the BSP is significantly below the 8.7% inflation rate recorded in January 2023.  However, the domestic price of rice continues to rise with a 22.6% surge in January 2024, a 14-year high since March 2009. If the government can continue to tame inflation across the board and people gradually start to feel less of the pressure, 2024 may prove to be a good year for some home sellers. Local market activity Where you’re planning to sell and how active the market is have drastic effects on your asking price. In an ideal setting, you’d want to have a large pool of buyers jockeying for your property, which can drive up the home price.  An area like Metro Manila, for instance, is a great place for property owners given its access to the vast majority of job opportunities in the country. But that’s not to say you can’t get good value for homes in other parts. You’ll need to delve deep and build connections to figure out the rhythm of the local market and plan accordingly. Lifestyle changes No matter the season or the prevailing market conditions, a major life change has a more outsized impact on your decision to sell a home. It comes in many forms, from getting a new job to supporting a growing family and downsizing to a more modest house. But not all of them will require urgency. Work-related changes often entail immovable timelines, while some family-related changes can be timed with a major real estate move. How long you’ve owned the property You’re likely to get a sizable return with property that’s been in your ownership for several years or even decades. This is especially important for homes located in areas that are booming or now have improved access to urban amenities. Just keep in mind that not all properties appreciate at the same pace — even if they’re in the same area. In some cases, you may need to hold off on a sale until you’ve taken some steps to increase home value.    For more value: sell during the first six months If you’re aiming to get the most offers and a potentially high ROI, list your property from January to June. Homes for sale in the Philippines are often at their highest price points during this period due to a combination of relatively good weather and increased competition. Many potential buyers will have settled their taxes by this time and have a better perspective on their budget for the year. Additionally, warmer and less rainy conditions make people more willing to stop by for home showings and open houses.   For a faster sale: sell during the academic break If you’re primarily aiming to sell your house fast, consider timing the transaction during the academic break. Families with school-age children who are in the market for a new home are typically quick to make moves just before school starts. With the current Philippine academic year ending in May 2024, the time between June and July is likely a good time to entertain potential buyers.  But moving forward, timing your home sale with the academic break may be a bit tricky. The Department of Education has stated that the country will gradually revert to the old academic calendar, which traditionally had the school break run from April to May. Here’s a quick overview of the shift. We’ll update the info below when changes are finalized. Academic year 2024-2025 is set to begin on July 29 and conclude on May 16 Academic year 2026-2027 is expected to run from June to April  Academic year 2027-2028 is expected to run from June to March For serious offers: sell during the last quarter Although the “BER” months are in full swing by then, selling a home in October or even November isn’t impossible. It may not match the frenetic market activity during the dry season, but inquiries you receive during the lead-up to the holidays may prove promising. Why, you ask? With many Filipinos getting ready for Christmas and setting aside their budgets to splurge on loved ones, a good chunk of the market is cleared of casual and non-serious buyers. The ones who are on the hunt for a new home during this time will want to close the sale quickly just before having their Noche Buena.   The best time to sell is when conditions are right for you It’s important to remember that these are just guidelines we’ve laid out based on the trends and data we’ve observed. When it comes down to it, the best time to sell your home, whether you’re in the Philippines or elsewhere, is when you feel you’re truly ready.  In addition to the variety of personal reasons and external circumstances that can come into play, there’s also the emotional aspect to consider. Parting ways with a home is rarely ever easy. When you’ve grown quite attached to a particular place and built relationships along the way, selling your home is no longer just a transaction. So aside from sorting all your priorities and doing your market research, it’s crucial to be emotionally prepared to start and finish the process.    List your home for sale on Real.ph Ready to put your property up for sale? Create an account here on Real.ph and post your listing for free. If you’d like to get more relevant real estate tips, sign up for our newsletter and follow us on social media.   Aside from providing helpful advice to buyers and sellers alike, our website is also equipped with an array of marketing tools to help you advertise your property effectively. We’ve also built a suite of real estate marketing tools where you can create stunning listing presentations using only your browser.  Got questions or feature suggestions? Send us a quick message on this contact form and you’ll hear from us soon! 

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Online Reputation Management Guide For Real Estate Agents

Online Reputation Management Guide For Real Estate Agents

If you are a real estate agent, your reputation is everything. You work so hard to build your client base and win referrals. The last thing you want is for a new client to Google you and choose not to do business with you because they don’t like what they see. In this Online Reputation Management Guide For Real Estate Agents, you’ll learn: The steps to take to protect your name in Google Which directories you need to be listed in Additional resources for taking charge of your online reputation How to hire us to handle everything for you   Step 1 – Claim/Optimize Your Google Business Page Realtors can get a Google Business page for free. It’s important to claim your Google Business page for three reasons. It looks more professional Provides users with your contact information Allows you to get found in location-based search results for “realtors” and “real estate agents” Compare the page 1 Google search results for the two real estate agents below. Claimed Google Business Page Notice how Google shows a preview of this agent’s business listing on the right side of the page. This makes it easy for users to see where the agent works and how to contact her without having to click a thing. It’s professional. Unclaimed Google Business Page If you have not claimed your Google Business page yet, you might see search results like the one below. Notice that Google thinks Brian Bostick is Brandon Bostick. That’s probably because in addition to not claiming his Google Business page yet, there is not enough information about Brian online. If you’ve already claimed your Google Business page, great! Double check to make sure your contact information is up to date and make sure to fully optimize it with images and description. If you haven’t claimed your Google Business page yet, you can do it now for free. Note that you will need to connect your email address to a Google account or simply create/use a GMAIL account in order to establish your Google Business page. Start by going to http://google.com/business.  If you have questions about claiming or optimizing your G+ Business page, you can request a call from Google to get help or call me to handle it for you 503-890-6663. Here are the key points for optimizing your page: Include [city + realtor/real estate] in business name. Why? Confirm office address, hours, and contact info Choose the correct category, either “real estate agency” or “real estate agents” Add your main website Add photos of yourself (don’t put images of houses you’re selling or have sold) Write a unique and compelling description Step 2 – Optimize Your Brokerage Page Most realtors work for an agency and are given a page on the agency website with their basic business information like the one below. However, many agents don’t do anything to improve the appearance of the page, nor do they describe themselves or provide a call to action. Check with your agency’s IT staff or webmaster to see what improvements you can make, so that your broker business page stands out and represents you the way you want. This is important because most real estate agency websites have a lot of domain authority and will usually rank high in Google search results for the agent’s name. Be sure to include the following, if possible: An updated professional and smiling photo of you Accurate contact information including email and cell Social media links Step 3 – Claim/Optimize Your LinkedIn Page LinkedIn is a very strong site. For nearly any business professional you Google, you’ll see LinkedIn on page 1 of search results. If you haven’t already signed up for LinkedIn, do it now. Keep your profile work history up to date and take advantage of the features LinkedIn offers, such as: Making connections Getting recommendations Customize your public profile URL and get a vanity URL Following the 3 steps above will ensure your profile on LinkedIn ranks as high as possible. Step 4 – Claim and Complete Zillow.com Profile Zillow.com boasts a domain authority of 91 out of 100, making it the strongest of all real estate directories. Zillow Domain Authority A higher domain authority means Google trusts the site and is likely to rank your profile very high – especially if you claim it, fill it out completely, and get reviews. I searched zillow.com for a random realtor called “John Becker,” and this is a screenshot of what I found. See how professional the top listing looks compared to the second one which has been left unclaimed? Follow these steps to claim your Zillow profile and then optimize it by following these tips. Step 5 – Claim and Complete Realtor.com Profile Realtor.com is one of the strongest, most trusted sites on the web. In terms of domain authority, it currently has an 89 out of 100 – that’s very strong. Realtor.com Domain Authority Go ahead and claim your Realtor.com profile if you haven’t already. Complete all of the free features you can. Realtor.com will automatically pull in your sales activity, so your completed profile will look very nice and professional. Compare the two profiles below. Who are you more likely to work with? Unclaimed Realtor.com Profile Claimed Realtor.com Profile Step 6 – Claim And Complete Trulia Profile Trulia.com is another strong real estate site, with a domain authority of 86. Trulia.com Domain Authority As you know by now, strong sites usually rank well in Google. Domain authority is 1 of over 200 Google ranking factors, so be sure to claim and complete your Trulia profile. When I click the “Find an Agent” button in Trulia, it automatically gives me a list of agents in my area. And while it’s impossible to know exactly how Trulia ranks it’s agents, one thing appears to be clear: claimed listings with pictures seem to outrank unclaimed listings. Give yourself every opportunity to get found by creating a great looking profile! Time Out At this point, you may be asking, why do I have to claim all of these profiles? Here’s why. Sites like linkedin.com, realtor.com, and zillow.com are very strong. Google trusts them and therefore they usually show up in search results for realtors. By claiming and optimizing your profile on these “authority” sites, you accomplish a couple things: You present a professional public-facing image that lets prospects know you’re on the ball. See example. You strengthen the profile, meaning it may rank higher and displace content which is not under your control. Some people use niche sites like realtor.com, zillow, and trulia.com to find a realtor.   Step 7 – Establish Your Facebook Fan Page You knew it was coming, right?! Did you know that you can create a separate fan “page” from your public profile? This is great for agents who like to have some separation between their private and personal lives. It’s also nice because Facebook Fan Pages are intended for business owners just like you. Setup your page and get to work marketing it. You probably guessed that Facebook is a strong site and guess what? It’s 100 out of 100. Facebook Domain Authority Whether you’ve claimed your page or not, it’s likely that you’ll see Facebook on page 1 when you Google yourself. The trick for you is to claim your page and associate it with your business, so Google can make that distinction in it’s search results. As is true with most social media sites, the more active you are, the higher it will rank. Step 8 – Yelp Yelp allows real estate agents to claim their own page, even if they work for a larger agency. Yelp Domain Authority And since Yelp boasts a Domain Authority of 93 out of 100, it’s one of the strongest sites for business owners to be part of. Get your own Yelp Page by going here and then make sure to completely fill out your profile. Add a nice picture of yourself smiling like the agent above. Important note: Unless you upgrade to a paid account, Yelp randomly chooses which of your photos to make the “featured image,” so until they change that, I recommend only uploading one picture and it should be of you – smiling. Also include your website, hours and description of your business. Step 9 – Homes.com Homes.com was created in 1992 and holds a domain authority of 74. With all the other sites we’ve discussed, that might seem weak, but it’s actually quite strong. Homes.com Domain Authority Alexa, which measures the popularity of billions of websites, has it ranked in the top 4,000 of all websites. And it’s rank in the United States is near 1,000. That means it’s extremely popular and gets a lot of traffic. For agents, claiming and optimizing your profile on homes.com might be all it takes to move it from page 2 or 3 up to page 1 in Google search results. Then it’ll become one more shining professional beacon to prospective clients who are Googling you.  Step 10 – Personal Blog/Website Even if you’re not ready to build out your own website, it’s a good idea to buy your domain name. A domain name only costs about $15/year and when you do decide to build it out, it will rank very well because its an exact match to your name. If your name is already taken, then consider buying near match .com domains, such as: your name + real estate (ie. TomSmithRealEstate.com) your name +your city + realtor (ie. TomSmithDenverRealtor.com) your city + realtor + your name (ie. DenverRealtorTomSmith.com) The realtor below bought a domain name that include her city + real estate + her nickname. Step 11 – Get Your Page On Other Sites Claiming your realtor profile on these sites takes time, but if you’ve completed the ones above and want to further strengthen your online presence, here are others you can complete. ActiveRain.com – Domain Authority of 80. Active Rain is a community of real estate professionals who share information; the site is also an educational resource. Use this link to join. RealtorAge.com – Domain Authority of 1.  This site allows you to create a personal interview in addition to listing your contact information, so it’s a bit more personal than the other online real estate directories. View a sample interview or complete your own here. Inspirery.com – Domain Authority of 32. Self-complete your own interview and get published on Inspirery with other talented business professionals and executives. Twitter.com – Domain Authority of 100. Even if you don’t want to “tweet,” it would behoove you to signup for twitter. If you want to better promote yourself, your blog posts, and your listings, we can help you put a system in place that will tweet for you. Instagram.com – Domain Authority of 98. Post pictures and videos of the homes you’re selling. Get the mobile app here. Homelight.com – Domain Authority of 28. Homelight helps people find an agent by using reviews and actual home sales data. Use this link to sign up. Incredibleagents.com – Domain Authority of 32. Incredible Agents is a place where users can review and hire “incredible” real estate agents. Create your free profile using this link. In addition to the sites covered in this post, you can usually claim a business profile page on your local newspaper and/or chamber of commerce. Conclusion The nice thing about claiming the profiles above and completing the interviews is that you strengthen your online presence and insulate yourself against a bad review that might pop up here or there. If you really dial it in, you can use some of the social media profiles (like Facebook, Twitter, and Instagram) to promote your home listings, thus differentiating you from your fellow realtors. Lastly, getting reviews on the sites that accept them is very important. As cited in this report, 88% of consumers trust online reviews as much as personal recommendations. To get reviews, you’re going to have to ask or follow some of the tips we offer in this blog post. If you’ve read this whole post and feel a bit overwhelmed, call me at 503-890-6663. For a small 1-time fee, we will claim and optimize your profile/interview at each of these sites: Google Business Page LinkedIn Zillow Realtor.com Trulia Facebook Yelp Homes.com ActiveRain RealtorAge Twitter Instagram Homelight IncredibleAgents

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