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2024: Significant Improvement in Manila's Real Estate Rental Market! Explaining the 5 Real Estate Reforms Implemented by the Philippine Government


Date: May 3, 2024

As we move into 2024, Manila asserts itself as a central figure in the Philippine real estate landscape, with a particular focus on its burgeoning rental market. In the wake of the pandemic, Manila’s rental sector has flourished, characterized by significant growth in luxury residential properties and a resilient economic backdrop. This piece delves into the prevailing trends and opportunities that are shaping Manila’s rental market as part of the wider Philippine real estate scene in 2024.

1. The Surge of Luxury Rentals in Manila

  • Manila has quickly become a key player in the luxury rental market, experiencing a remarkable 21.2% year-on-year growth in property values—a rate that surpasses those of major global cities like Dubai and Shanghai. This positions Manila as an elite destination for luxurious living. The city’s luxury rental market boom is reflective of a global trend, yet Manila’s growth is particularly notable, marking it as an increasingly attractive location for those seeking an upscale lifestyle.

  • The rise of Manila’s luxury rental sector is fueled by strategic improvements in infrastructure, economic stability, and a surge in international interest and investments. These elements together foster an environment conducive to luxury developments, appealing to wealthy locals and foreign expatriates alike. As Manila expands and evolves, it solidifies its reputation as an appealing market for those in search of high-quality residential options in a vibrant city.

2. Economic Stability and Infrastructure Enhancements

  • The resilience of the Philippine economy, particularly in bouncing back from recent disruptions, lays a solid groundwork for growth in real estate. Manila stands to gain from significant infrastructural improvements, such as the forthcoming Unified Central Terminal in Quezon City, slated to enhance urban transit and increase residential appeal by early 2024.

3. Impact of Transportation Improvements on Rental Markets

  • Anticipated advancements in transportation are set to reshape the rental market in Manila. Improved connectivity, especially in areas like Quezon City, is expected to boost residential developments, attracting both local and international residents. Enhanced access is likely to drive up rental demand, particularly in neighborhoods close to these new infrastructural developments.

4. The Return of Expatriates and Housing Needs of OFWs

  • As expatriates make their way back to the Philippines, the demand for premium rental units in Manila is on the rise. This trend is supported by the strategic placement of business districts within the city. However, the escalating cost of living presents challenges for Overseas Filipino Workers (OFWs), who require affordable rental options that align with their financial realities.

5. Diversification of Development Beyond Central Manila

  • While Central Manila continues to draw interest, there is a notable shift towards less crowded regions. Developers are expanding their focus, enhancing housing options in the outskirts, prompted by a preference for less densely populated areas. This shift not only reduces the strain on Central Manila but also introduces new prospects in the rental market.

Looking forward, the rental market in Manila is poised for continued growth, supported by a stable economic environment and significant infrastructure projects. The real estate sector in Manila is brimming with opportunities for both investors and renters, fueled by the amalgamation of luxury development, economic steadiness, and infrastructural progress. As Manila evolves, it offers lucrative prospects for stakeholders in the real estate industry to leverage the dynamic market and the growing demand for quality rental accommodations. Among these stakeholders, Bed&Go Real Estate stands out as a key player, strategically positioned to capitalize on these trends and provide exceptional service and options in both luxury and affordable segments.




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