{"id":13740,"date":"2021-04-26T11:12:52","date_gmt":"2021-04-26T04:12:52","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12139"},"modified":"2021-06-04T16:12:14","modified_gmt":"2021-06-04T09:12:14","slug":"manila-one-of-the-most-expensive-cities-in-southeast-asia","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/manila-one-of-the-most-expensive-cities-in-southeast-asia\/","title":{"rendered":"Manila, one of the most expensive cities in Southeast Asia"},"content":{"rendered":"

The city is second behind wealthy city-state Singapore in\u00a0terms of\u00a0<\/span>the most expensive rental rates in the\u00a0region\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
The cost of food, rent, utilities, transportation and other factors in Manila totals to around\u00a0PHP50,798\u00a0(USD1,055). Source: Aldarinho\/Shutterstock<\/figcaption><\/figure>\n

Data from six popular Southeast Asian cities gathered and\u00a0<\/span>analysed<\/span>\u00a0by\u00a0<\/span>iPrice<\/span>\u00a0revealed that Manila has the third most expensive cost of living in the region, reported ABS CBN News<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

As stated by the firm, the cost of food, rent, utilities, transportation and other factors in Manila totals to around <\/span>PHP<\/span>50,798\u00a0<\/span>(USD<\/span>1,055<\/span>), which is 168 percent higher than the average net income of about\u00a0<\/span>PHP<\/span>18,90<\/span>0 per month.\u00a0<\/span>\u00a0<\/span><\/p>\n

The city\u00a0<\/span>just follows affluent city-state Singapore with\u00a0<\/span>its\u00a0<\/span>cost of living of around PHP119,732, as well as tourist ho<\/span>tspot Bangkok, Thailand of an estimated PHP51,517.\u00a0<\/span>\u00a0<\/span><\/p>\n

iPrice<\/span>\u00a0said, \u201cThe cost of living in Singapore is at least 132 percent higher than the others. However, Bangkok and Manila are neck\u00a0<\/span>and neck<\/span>\u00a0at the\u00a0<\/span>top<\/span>\u00a0[with the latter] only one percent lower.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

On the other hand, there\u2019s a significant difference in overall\u00a0<\/span>expenses<\/span> between Manila and its ASEAN neighbours <\/span>with a \u201ccomparable economic state.\u201d\u00a0<\/span>The combined expenses in Manila outstripped Jakarta (PHP41,026), Ho Chi Minh (PHP39,608), and Kuala Lumpur (PHP38,314), by 24 percent, 28 percen<\/span>t, and 33 percent, respectively.<\/span>\u00a0<\/span><\/p>\n

According to a study from the Borgen Project,\u00a0<\/span>iPrice<\/span>\u00a0added, “It comes as no surprise that about 35 percent of Metro Manila\u2019s population is reported to live in unstable, badly constructed shelters in the slums, and 11 percent of these reside near railroads or garbage dumps.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

Research also indicated that rent takes off a big chunk of a Filipino\u2019s financial account, as Manila has on<\/span>e of the\u00a0<\/span>most expensive rental\u00a0<\/span>rates<\/span>\u00a0among the six cities,\u00a0<\/span>second after Singapore.\u00a0<\/span>A one-bedroom apartment in the city centre <\/span>would cost roughly PHP22,000, 56 percent higher\u00a0<\/span>when c<\/span>ompared to Kuala Lumpur<\/span>, the city with the lowest cost of living<\/span>.<\/span>\u00a0<\/span><\/p>\n

More: Crazy rich Asians seek Singapore luxury properties<\/strong><\/a><\/p>\n

“We all know that Singapore is way ahead of its Southeast ASEAN peers, so it\u2019s quite surprising that a developing country\u2019s capital city, which is way behind the aforementioned Lion City in terms of economic development, has the second-highest rent price in the region,”\u00a0<\/span>iPrice<\/span>\u00a0noted.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Many Filipinos, especially those in the workforce, choose to share rooms or bed spaces due to the high price of units.<\/span><\/p>\n

“This gives you an idea of its residents’ quality of life… Perhaps leisure expenses or take-outs are kept to a minimum or aren\u2019t enjoyed at all,”\u00a0<\/span>iPrice<\/span>\u00a0said.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The city is second behind wealthy city-state Singapore in\u00a0terms of\u00a0the most expensive rental rates in the\u00a0region\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1324,1325,127,129],"class_list":["post-13740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cost-of-living","tag-expensive","tag-manila","tag-philippines","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"\nManila, one of the most expensive cities in Southeast Asia | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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