Cost of Living in Makati

Having stayed in Makati for over three years now I think I can make this post and give some personal advise based on my experience living in Makati. Some people say Makati is one of the most expensive cities in the country and I couldn’t help but agree. Even though prices of regular products on Shopping Malls and the bus and jeepney fares are basically the same in the rest of the Metropolis, Makati City is a little bit more expensive than the rest of Metro Manila.

Below are some important tips you should know if you want to stay, live, and work in Makati. Please be advised that the numbers are not accurate and should be treated as estimate. Bring extra cash if you can.

1. Place to live. Do you want to live in Makati? Do you want to stay in a Hotel for a few days in Makati, or live in a Hotel in Makati? Do you want to buy a house and lot in Makati? Do you want to buy a condominium in Makati? Do you want to rent a condominium or apartment in Makati?

Nowadays the cheapest way to stay in Makati is renting a bed space, which ranges from P1500 to P2500 a month. You get to stay with the rest of the people renting bed space, about 4 to 6 persons per room and the bathrooms, laundry area etc are shared by everybody. This is good for people earning the minimum monthly salary.

Next would be to stay in a studio type apartment which costs from P5000 to P8000 a month, depending with the type of apartment you’re living in and location. Some apartments have shared restrooms and some have their own individual comfort rooms. This is good for people who doesn’t want to share their rooms and want to have some privacy.

Next would be to stay in a condominium which costs from P9000 to P15000 or more, also depending if your are staying very near the Makati Business District. This is good for young professionals who can afford a better living condition and wants to have a more peaceful place to live.

Next is staying in a hotel for a few days. Some hotels cost an arm and a leg, specially those 5-star hotels like Manila Peninsula, but staying on a decent regular hotel would cost starting P1500 a day. Some might have Internet Access and it costs P100 to P200 an hour. These relatively cheap hotels are not bad for business people and tourist who only wish to stay for a few days in the City.

Now it’s staying in a hotel for several months. I have heard from some people that Shangri-La Makati costs about P500,000 or USD12000+ for every 3 months. If you are living the life of the rich and famous, why not take the best hotels in town?

Next would be to buy a condominium in Makati. The cheapest I’ve heard is P1.5 million and that is located 30 mins away from the City center. My sister told me that owning condominiums only lasts 100 years and that’s it. Anyway, having a condominium is actually good if you want to stay in the city and have the lowest rate (compared with hotels) in the long run, plus, you own the place.

Lastly, do you want to buy a house and lot in Makati City? You have to be filthy rich to buy a house here. A house and lot can cost as high as P38 million+++ and remember, house and lots in nearby provinces can only cost as low as P1.5 million. Still interested? Who knows, your next door neighbor could be the President.

2. Do you want to work in Makati? Do you want to work in a Call Center in Makati? Do you want to know how big is the salary working in Makati?

Living in Makati may cost higher than in nearby cities, but it doesn’t mean you have to live in Makati to work, you can always live elsewhere and work in Makati. The other reason why people come to Makati to work is because of the relatively better pay than other companies offer in other cities. Some people here can have a starting salary of P25,000 a month and the highest paid executive is rumored to earn as incredibly high as P1.5 million a month. No thats not per year, that’s per month!

Call Center agents here earn starting from P15000 a month to P20000, depending on the company and experience of course, newer outsourcing companies pay higher because they want experienced and low paid agents to move to their company. Pirating anyone?

Please don’t expect to earn a high salary when you start working in Makati. Some companies pay their people the minimum of P8000 a month and these employees prefer to live in the outskirts of the city like Laguna or Cavite because P8000 simply cannot pay the rent, food, and everything else.

Lesson, always look for the best companies and get the job you have always dreamed of!

3. Do you want to eat in Makati? Do you like to cook or eat outside? Do you like to eat on the sidestreets or to expensive restaurants?

Cooking your own food has always been the cheapest way to eat in Makati. A kilo of chicken costs around P150 per kilo, rice for P30 per kilo and Pork for P150 per kilo. On wet seasons, the prices can go up to P10 more. If you cook everyday you could spend around P3000 to P4000 month.

Do you like KFC or Jolibee or McDonalds? If you eat there everyday you will spend at least P9000 per month. If you are in a Call Center you only have P6000 left to spend or P200 a day.

If you prefer to eat on expensive restaurants, expect to spend at least a thousand per meal but enjoy the company of rich people who are probably spending much more than you.

Remember, as long as you have the money to spend, go enjoy your meal.

4. How about other expenses like Light, Intenet, Water? No one can live normally in Makati without Electricity and Water. If you are using regular appliances like TV, Ref, Lights, you are looking to spend at most P2500 per month on electric bills. Internet Access can cost as low as P1000 per month and P5000 per month if you want 2MB speed or more.

Makati is expensive right? Unless you are spending less than you earn, Makati is really expensive. It is really a matter of handling your money and spending it wisely.

If I am missing something that you want to know about Cost of Living in Makati? Please let me know.

As I write this post, the exchange rate is 40 Pesos to a US Dollar (which really sucks). My apologies if my numbers are incorrect, at least this post will give you an idea how much to earn and spend when you are in Makati.

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Alfredo is a web designer, programmer and a search engine marketer from the Philippines. He is also an amateur photographer and loves to travel. He can be found on Twitter, LinkedIn and Facebook. Questions? Send him an email.