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Makati's rental market: A haven for expats and global nomads
Fortis Residences | August 16, 2023
Residential properties in Makati City are always in demand not just among Filipinos looking for a place near their offices, but also for expatriates who want a home away from home.
Condominium units near Makati’s central business districts (CBDs) are always promising to investors who seek handsome returns for their property – after all, the rental market is always bustling.
Makati remains the Philippines’ largest central business district, and with it comes a deluge of foreign nationals detailed in the city.
Data from the Philippine Statistics Authority showed a sustained increase in the number of foreign and multinational corporations in the Philippines, rising from 13,553 in 2018 to 17,270 in early 2022. According to DOLE-Bureau of Local Employment, in 2022, there were more than 50,000 expats who held alien employment permits in the National Capital Region.
Colliers has also observed expat residential leasing picking up in CBDs including Makati with demand led by those working for business process outsourcing (BPO) companies, shared service centers, multilateral aid agencies, as well as logistics and manufacturing industries.
Makati has cemented its status as a preferred city among foreign firms given its investor-friendly policies, advanced infrastructure, and ease of access. The city is also the location of choice for members of the diplomatic community, with Makati home to 44 embassies and 34 consulates catering to the needs of their citizens away from their motherland.
The rise of the so-called “global nomads,” or foreigners who travel the world while fulfilling their jobs remotely, has also contributed to the ever-growing expat population in the Philippines.
The expat community broadens the renter’s market within Makati City. They prefer to live close to their workplace and are willing to pay the premium for convenience.
Fortis Residences, a premier condominium complex being developed by DMCI Homes Exclusive, is an accessible and comforting home for expats and global nomads looking to relocate to Makati City. The mixed-use development provides spacious units with top-notch furnishings and relaxing amenities that are fitting for a second home.
This condo for sale in Makati City is less than 5 kilometers away from the Ninoy Aquino International Airport, making it easy for expats to fly in and out of Metro Manila. The property is conveniently located along Chino Roces Avenue, which is being redeveloped by the Makati City Government into the Makati Southwest Gateway, the newest commercial strip in the city with restaurants, stores, and residential buildings.
The resort-inspired abode at the heart of the city assures a relaxing stay, featuring natural breeze along its corridors through DMCI Homes’ Lumiventt® Design Technology and green spaces to unwind. The property complex also highlights sustainable living, with facilities such as charging stations for electric vehicles and a full water recycling system within the property.
Relocating to Fortis Residences is worry-free as units are furnished with basic fixtures like wardrobe cabinets, split-type air-conditioning units, range hood, water heater for both the toilet and bath and sink, digital locks, and wi-fi connectivity within the building. Strict security protocols are also in place to ensure that residents, including high-profile expats and diplomats, can sleep in peace.
In return, unit owners at Fortis enjoy competitive returns from renting out their property. Rental yields within Makati range from 9.31% to 9.62% on average, higher than typical returns in other CBDs like Fort Bonifacio in Taguig (9.18%) and Ortigas Center in Pasig (8.34%).
Fortis is well positioned to be the next home of foreigners looking for a high-end property that’s close enough to offices but remains an arm’s length away for peace and quiet.
Fortis Residences, a property by DMCI Homes Exclusive, is an up-and-coming residential condominium in Makati City that’s worthy of your investment. Its convenient location makes Fortis a viable investment vehicle either as your home or for a future tenant. Invest in a unit today.
Underpinned by exceptional quality that DMCI Homes has long been known for, each DMCI Homes Exclusive property is designed to possess an inherent rarity, be it in location, master plan or development features.
To learn more about DMCI Homes Exclusive, leasing opportunities and rent-to-own (HomeReady), call (632) 5324-8888. News and other updates are also posted on the company’s official website and its social media accounts on Facebook, X, Instagram, and YouTube.