Buying a Resale Condo in Makati? 5 Things Expats Should Check First

BedandGo Marketing
1 日前
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A resale condo in Makati can be practical for expats who want an actual unit, an established location, and clearer rental or resale data before buying.

Buying a resale condo in Makati can be a practical choice for expats who want a ready unit in one of Metro Manila’s most established business districts. Unlike pre-selling projects, resale condos allow buyers to inspect the actual unit, review the building condition, compare current rental listings, and understand the real living environment before committing.

Makati remains one of Metro Manila’s strongest real estate locations because it has long been associated with corporate offices, commercial activity, premium residential buildings, and lifestyle convenience. The city’s own economic profile describes Makati as the country’s premier business district, with the Ayala-owned CBD housing many major corporate headquarters.

Still, a resale condo is not automatically a safe purchase just because it is in Makati. Expats should check legal eligibility, building condition, pricing, rental demand, association dues, and resale history before buying. Metro Manila’s condo market is still selective, and Colliers reported that by Q4 2025, unsold condo inventory life had improved to about eight years, down from more than 13 years in mid-2025, but supply pressure remains part of the market context.

Here are five things expats should check before buying a resale condo in Makati.

Check the Foreign Ownership Quota First

The first question for expat buyers is not price, floor area, or view. It is whether the unit is legally available to foreign buyers.

Foreign nationals may buy condominium units in the Philippines, but foreign ownership in the condominium corporation must not exceed 40%. The Philippine Consulate General in Sydney also explains that foreign nationals may buy condominium units as long as not more than 40% of the units in a project are foreign-owned.

This matters because some older or popular Makati buildings may already have a high foreign ownership percentage. If the quota is full, a foreign buyer may not be able to proceed even if the seller is willing to sell.

Before making an offer, ask for written confirmation from the building administration, condominium corporation, developer, or authorized representative regarding the current foreign ownership availability. Do not rely only on verbal confirmation.

Expats should check:

Whether the building still has available foreign ownership quota
Whether the seller’s title is clean and transferable
Whether the unit has a Condominium Certificate of Title
Whether there are unpaid dues, taxes, or assessments
Whether the sale can legally proceed under the buyer’s nationality status

This step should come before emotional decision-making. A resale condo may look attractive, but if the foreign quota is closed, the deal may not be possible.

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Review the Building Condition, Not Just the Unit

A resale condo is more than the unit itself. The building’s condition affects comfort, rental demand, resale value, and long-term ownership costs.

This is especially important in Makati because the city has a mix of older established buildings, premium residential towers, serviced-style residences, and newer developments. Some older buildings have excellent locations and strong rental demand, but they may require closer checks on elevators, plumbing, common areas, waterproofing, air-conditioning provisions, and overall maintenance.

During inspection, expats should check:

Lobby and common area condition
Elevator speed, reliability, and maintenance
Hallways, lighting, smell, and cleanliness
Water pressure and drainage
Air-conditioning setup and age
Window condition and possible leaks
Noise from nearby roads or construction
Building security and visitor control
Fire exits, alarms, and emergency systems

Do not judge only from listing photos. A unit may be renovated while the building is poorly maintained. The opposite may also happen: a dated unit inside a well-managed building could be a better long-term investment if renovation costs are reasonable.

For resale condos, building management quality is one of the biggest hidden factors. It affects tenant satisfaction, resale perception, and future repair risk.

Makati resale condo building inspection for foreign buyers

Compare the Asking Price Against Real Market Data

Resale condo pricing in Makati can vary widely depending on the building, exact location, age, view, furnishing, parking, title status, and seller motivation. This is why expats should compare the asking price carefully before making an offer.

Do not rely on one listing alone. Look at comparable units in the same building and nearby buildings. Compare not only the price per square meter, but also the condition, floor level, furnishing, parking inclusion, and whether the unit is tenanted.

Metro Manila’s residential market has been dealing with elevated inventory, although Colliers noted that inventory life improved by Q4 2025 because of stronger take-up and promotions for ready-for-occupancy units. This means buyers may have more room to compare and negotiate, but strong buildings in good Makati locations can still hold value better than weaker stock.

Before buying, check:

Asking prices of similar units in the same building
Recently closed resale transactions, if available
Price per square meter compared with nearby buildings
Whether parking is included or sold separately
Renovation cost needed after purchase
Whether the unit is vacant or income-generating
Seller urgency and flexibility
Total acquisition cost, including taxes and transfer-related expenses

A lower price is not always better. A cheap unit with high dues, poor condition, weak building management, or limited resale demand may cost more over time. A fair-priced unit in a strong building may be safer than the cheapest option on the market.

Check Rental Demand and Tenant Profile

Many expats buy resale condos in Makati for investment, future personal use, or rental income. If rental income is part of the plan, the building’s actual tenant demand must be checked carefully.

Makati has a strong rental base because of its office activity, commercial establishments, embassies, lifestyle areas, hospitals, and access to nearby districts. The city’s economic profile notes the importance of office and commercial real estate in Makati’s economy.

However, rental performance still depends on the specific building and unit. A condo in Legazpi Village may appeal to a different tenant profile than a unit in Salcedo Village, Poblacion, Rockwell, or the Ayala Avenue side. Tenants may prioritize walking distance, furnishing, building age, internet options, parking, pet policy, or access to restaurants and parks.

Before buying, review:

Current rental listings in the same building
How long similar units stay listed
Actual rental rates, not just asking prices
Tenant profile in the building
Whether corporate leases are common
Whether the building allows pets
Whether short-term leasing is allowed or restricted
Furnishing expectations for the target tenant
Competition from similar units nearby

Colliers’ Q3 2025 residential report noted that Metro Manila vacancy reached 25%, while Makati CBD, Rockwell Center, and Ortigas Center remained more resilient, with vacancies below 15%. This supports the idea that Makati can remain stronger than weaker submarkets, but investors still need building-level due diligence.

Do not assume that every Makati condo rents quickly. The strongest rental units are usually well-priced, clean, properly furnished, and located in buildings with good management and convenient access.

Understand Monthly Costs and Resale Exit

A resale condo purchase should be reviewed not only at the time of buying, but also during ownership and future resale.

Monthly costs can affect the real return. Association dues, insurance, repairs, property tax, management fees, furnishing replacement, and vacancy periods all reduce net income. A unit with a good rent may still underperform if the monthly dues are too high or the building requires frequent repairs.

Expats should also think about exit strategy. Resale liquidity matters. Some Makati buildings have active resale markets because buyers understand the location and tenant demand. Others may have many listings but few actual buyers.

Before finalizing a purchase, ask:

How many units are currently for sale in the building?
How long do resale units usually stay on the market?
Are prices stable, rising, or being discounted?
Is the building still attractive to foreign buyers?
Is the foreign ownership quota likely to become an issue later?
Are there major repairs or special assessments expected?
Does the building have a strong rental and resale reputation?

The best resale condo is not always the newest or cheapest. It is the unit that makes sense after all costs, legal checks, rental demand, and future resale potential are considered.

Makati condo rental demand and pricing check for expats

What Expats Should Prepare Before Making an Offer for resale condo in Makati?

Before making an offer on a resale condo in Makati, prepare a due diligence checklist.

Important items include:

Copy of the Condominium Certificate of Title
Valid IDs and seller authority documents
Updated real property tax receipts
Condominium dues clearance
Confirmation of foreign ownership quota
List of included furniture and appliances
Parking title or parking documentation, if applicable
Occupancy status or lease contract, if tenanted
Building rules on leasing, pets, renovation, and move-in
Estimated taxes, fees, and transfer timeline

This process may feel detailed, but it protects the buyer. Resale transactions involve real documents, existing building history, and possible hidden obligations. For foreign buyers, proper verification is even more important because legal ownership limits and transfer requirements must be followed correctly.

Conclusion

Buying a resale condo in Makati can be a smart move for expats who want an actual unit, an established location, and clearer visibility before purchasing. Makati remains one of Metro Manila’s strongest business and residential districts, but the right decision depends on more than the address.

Expats should check the foreign ownership quota, building condition, pricing, rental demand, monthly costs, and future resale potential before committing. A resale condo can offer strong practical value, but only when the details support the investment.

For expats and foreign investors comparing resale condos in Makati, BedandGo can help review available units, check building-level details, compare rental potential, and guide the due diligence process before buying.