Buying a house makes a lot of sense. For newly wed couples, it offers them stability as they are purchasing a property that will not only serve as a place where their family will be raised and nurtured, it will also provide them a sound investment vehicle that will grow in value overtime. Furthermore, people who are expected to stay put for a long enough period of time are advised to purchase a property rather than rent, especially in today’s market where housing loan interest rates are more affordable than annual escalation in rents, especially in the high-end segment.
We could go on and on about the benefits of buying a house in the Philippines, but an outright purchase is not practical for some people. Millennials, for instance, are known to switch jobs as often as they change wardrobe; therefore, it would not be practical for them to buy a house should they find themselves moving to another city.
Expats, too, are better off renting a house, given that there are restrictions on property ownership in the Philippines imposed on foreigners (they, however, can purchase a condo unit as long as foreign ownership in said condo development shall not exceed 40 percent), which brings us to the benefits of renting a house. Given the country’s robust residential property market, there are plenty of options available for people who opt to rent than to buy. Here we list the places in Metro Manila where house and lots for rent abound.
The country’s foremost financial and business center, Makati boasts a number of exclusive gated communities and subdivisions, home to business tycoons, politicians, celebrities, and diplomats. Being some of the most highly sought-after addresses in Metro Manila, these subdivisions teem with house and lots for rent as their owners appreciate the income potential of these properties in the leasing market.
One of these subdivisions is Forbes Park, touted as the most exclusive and expensive subdivision in the Philippines. Established in the 1940s, this development was named after William Cameron Forbes, the country’s Governor-General from 1909 to 1913 during the American period. This leafy and quiet enclave sits between the Makati central business district (CBD) and BGC - Bonifacio Global City, and features extravagant expensive houses for rent. Real estate platform Hoppler shows that houses for rent in Forbes Park command rates ranging from Php250,000 to a whopping Php700,000.
Next to Forbes Park is Dasmariñas Village, a 187-hectare subdivision bounded by EDSA to the northwest; McKinley Road, Banyan Road, and Pili Avenue to the east; Maricaban Creek to the south; and Ecology Village to the southwest. Similar to the former many expats and diplomats call Dasmariñas Village their home in the Philippines, which explains why houses for rent in this expensive enclave are very popular. Hoppler listings show that Dasmariñas houses command monthly rents ranging from Php190,000 to Php700,000.
Relatively smaller than Forbes Park and Dasmariñas Village, Urdaneta Village is by no means less extravagant. Bounded by EDSA to the southeast, Ayala Avenue to the southwest, Makati Avenue to the northwest, Paseo de Roxas to the north, and Gil Puyat Avenue to the northeast, this subdivision is closer to the CBD than both Dasmariñas and Forbes Park are, which makes it a popular option to those who work in either Legazpi Village or Salcedo Village. Urdaneta Village houses for rent listed online range in price from Php100,000 to Php375,000 per month.
The next three Makati subdivisions—Bel-Air Village, Magallanes Village, San Lorenzo Village—offer relatively smaller houses, but by no means are these enclaves less exclusive. Boasting the same level of security and privacy as Forbes or Dasmariñas, the houses for rent in these villages are equally extravagant. Rental rates in San Lorenzo Village, for example, range from Php75,000 to Php250,000, while houses for rent in Bel-Air Village range in price from Php120,000 to Php300,000 per month.
Being home to BGC, it is safe to say that Taguig is the second most important business and financial center of the Philippines. It is not surprising then that some of its subdivisions and villages are popular options for people looking for houses for rent.
One of those of gated communities is McKinley Hill Village. Located within Megaworld’s 50-hectare McKinley Hill township, this village boasts impressive location as it sits close to corporate and BPO offices, shopping malls and restaurant strips, condo towers, not to mention it is mere minutes away from Makati. McKinley Hill Village houses for rent listed online range in price from Php225,000 to Php300,000.
Other also popular Taguig areas for houses for rent include AFPOVAI Village in Bayani Road and DMCI Homes’ Acacia Estates in Brgy. Ususan.
There is no other subdivision that best represents suburban living than Muntinlupa’s Ayala Alabang Village (AAV). One of the most exclusive addresses in southern Metro Manila, AAV was developed in the 1970s by Ayala Land in partnership with the Madrigal family, and boasts a land area of approximately 700 hectares, larger than all of Makati’s primary subdivisions combined. Home to politicians, entertainers, businessmen, and other public figures, AAV houses for rent listed online range in price from Php70,000 to more than Php300,000 per month. Other Muntinlupa subdivisions that offer houses for rent include Alabang Hills, Hillsborough Alabang Village, and Alabang 400 Village.
There are plenty of subdivisions outside of Makati, Taguig, and Muntinlupa that offer high-quality houses for rent. These include Valle Verde in Pasig; Greenhills in San Juan, which is known as the preferred address of the Filipino-Chinese community; White Plains, Corinthian Gardens, Green Meadows, and Ayala Heights in Quezon City; Wack Wack Village in Mandaluyong; and BF Homes in Parañaque and Las Piñas. Mostly offering houses at rates relatively more accessible than the properties found in Forbes Park or Dasmariñas Village, these subdivisions provide viable rental options, especially to those who need to live close to places where they work or conduct business. Corinthian Gardens, Wack Wack Village, White Plains, and Valle Verde, for instance, surround Ortigas Center, while BF Homes is close to Filinvest City and Madrigal Business District. This only shows that one does not need to spend too much money on a great house and lot for rent in Metro Manila.