Wazzup Pilipinas!
With the country’s real estate sector continuously performing well in terms of capital appreciation and rental rate growth, it seems that many Filipinos employed in the business process outsourcing (BPO) industry are quickly becoming priced out of Metro Manila’s condo market.
An analysis conducted by Lamudi Philippines (www.lamudi.com.ph), using data from its 80,000-plus property listings and from real estate consulting firm Colliers International, found that even BPO employees at supervisory and managerial levels would be hard-pressed to afford to rent a condo, let alone buy, in most of Metro Manila’s townships or central business districts. This comes as a surprise, as most of these condos are situated close to BPO offices.
In the analysis, Lamudi used data on average salaries of BPO workers presented by Colliers International in a meeting hosted by SHDA. The data shows entry-level customer care representatives receive on average Php22,500 per month, while supervisors and managers receive Php32,500 and Php75,000 per month, respectively.
Using the 30 percent rule—that is, not spending more than 30 percent of one’s salary on housing—Lamudi found that only those working as managers in BPO firms may be able to afford a condo in select areas in Metro Manila. These areas include Eastwood City, Pioneer-EDSA, Poblacion (Makati), and San Antonio (Makati). The average rents of one-bedroom and studio condos in these areas range from Php19,838 to Php22,563.
Ross is known as the Pambansang Blogger ng Pilipinas - An Information and Communication Technology (ICT) Professional by profession and a Social Media Evangelist by heart.
