Makati CBD: Primed for greater premiumization
The demand for premium condominium projects in the Makati central business district (CBD) remains firm.
While some challenges persist, especially for the affordable to mid-income
condominium segments (P2.5 million to P12 million per unit), the luxury to ultra luxury segments (at least P20 million per unit) continue to perform well. These price segments cover a mere 3 percent of the unsold ready-for-occupancy (RFO) units in Metro Manila.
When we talk about the more expensive condominium price segments, Makati CBD continues to stand out.
Beyond 2026, more luxury and ultra luxury projects are scheduled to be turned over in the CBD—located near premium office towers and complemented by premier retail centers, fitness and spa centers, sky gardens, and other topnotch amenities.
Makati CBD’s dynamism
Makati CBD continues to perform well in terms of office leasing. Traditional and outsourcing firms covered bulk of office space transactions in the business hub in 2025, resulting in significantly lower vacancy compared to Metro Manila on average.
With brisk business activities in the CBD, business hotels are recording stable to rising occupancies, resulting in higher average daily rates. The retail sector, meanwhile, continues to evolve, serving the discerning tastes of foreign and local residents. As a result, malls in the business district are posting strong absorption, resulting in Makati CBD having one of the lowest retail vacancies.
The residential market is also posting sustained gains in terms of lease and sales, with demand for large cuts and premium amenities being among the key drivers of residential demand.
At present, it has one of the most competitive vacancies in the secondary condominium market, indicative of stable demand for prime residential developments. Makati CBD ended 2025 with a residential vacancy of 13.2 percent, nearly half the Metro Manila-wide vacancy of 24.7 percent.
Makati CBD also has the most negligible number of unsold condominium inventory in the capital region, accounting for only 0.1 percent of remaining RFO inventory as of Q4 2025.
While the demand in the secondary market remains strong, the take-up for pre-selling units is also positively influenced by Makati CBD’s prestige and location, raising ultra-luxury condominium units’ price appreciation potential.
More premium developments in the pipeline
From 2026 to 2030, Colliers expects the completion of 1,600 new condominium units in Makati CBD, with the upper luxury to ultra luxury segments (at least P50 million per unit) likely accounting for nearly a quarter of the new supply.
Ayala Land continues to be among the leaders in luxury condominium developments in Makati CBD. Among the developer’s premium projects lined up for completion beyond 2030 are Park Villas and Laurean Residences.
Premium amenities becoming the norm
Prime developers including Ayala Land are raising the bar in terms of residential differentiation and premiumization by offering the most high-end amenities to their affluent clients.
Among the key amenities and features of Park Villas and Laurean Residences include resort-like pools, sky garden, pavilion area, fitness and spa centers, pilates and yoga studios, cinema rooms, co-working spaces, and exclusive lounges.
Additionally, Park Villas secured an LEED (Leadership in Energy and Environmental Design) Gold Certification. Achieving this ensures that the residential tower adheres to the highest standards of energy efficiency, water conservation, indoor environmental quality, and sustainable materials use.
Developers are constantly raising the bar in offering premium residential spaces. This will likely be the norm moving forward. Expect more pronounced differentiation and premiumization moving forward.
