Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Dormitory Living Gaining Popularity among Metro Manila’s Young Professionals

21/03/2018

The worsening traffic condition in Metro Manila has pushed young professionals to embrace dormitory living spaces closer to their workplaces. With expensive condominium rents in central business districts, individuals on a budget have been turning to fringe areas for affordable housing options. These typically come in the form of dormitories and boarding houses.

Developers have noted the rising need for reasonably-priced lodging while also acknowledging their tenants’ desire for a more sophisticated offering. This paved the way for the growing footprint of professionalized dormitories, often termed “dormitel” for the hotel-like amenities and property management services these projects offer.

dormitory-living-gaining-popularity-among-metro-manilas-young-professionals-600x337

Point Blue’s “micro-studios” are packed with a private bathroom, a kitchenette, and a work desk along with the bed and mattress.
(Photo courtesy of Point Blue)

In the CBD markets of Bonifacio Global City (BGC) and Makati City alone, there are about 1,400 beds currently being leased out by existing dormitel developments. The reception to these projects are positive, with buildings typically reaching 100 percent occupancy within two months of operations. Developers are optimistic about the business, coming up with an aggressive pipeline bringing the total number of beds to more than 10,000 by 2019.

dormitory-living-gaining-popularity-among-metro-manilas-young-professionals-3-600x315

MyTown New York in South Cembo, Makati City has gained a following for its sociable atmosphere and warm community.
(Photo courtesy of MyTown / Philippine Urban Living Solutions)

With average monthly rates registering at PHP 4,525 (USD 86.85) per person for shared rooms, dormitel offerings appear most attractive to young professionals in the IT-BPM and banking sectors with ages from 25 to 35 years old, typically earning PHP 25,000 (USD 480) per month.

The dormitel business proved to be a striking venture for large developers as well. Last year, SM Investment Corporation acquired a 61.2 percent stake in Philippine Urban Living Solutions, the company behind the MyTown brand. Meanwhile, Ayala Land has announced their entry into the market with the launch of The Flats at BGC 5th Avenue, a 1,500-bed dormitory set for operations by 2019.

To get more insights on the Metro Manila dormitory market, read Living in Smaller Spaces: How Developers Reinvent the Dormitory Business.

Related Insights

The Appeal of Co-Living in Singapore
Insights • Residential

The Appeal of Co-Living in Singapore

The demand for co-living has heated up in recent times, fueled by a confluence of surging residential rents and prices as well as construction delays of new homes
26/01/2023
APAC Capital Flows - Supply Chain Management webinar
Insights • Capital Markets

Cushman & Wakefield Webinar: Asia Pacific Capital Flows - Supply Chain Management

In this webinar, we have invited Kevin Lee, Head of Real Estate Solutions, APAC at DHL Supply Chain and Tim Foster, Head of Supply Chain & Logistics Advisory, APAC at Cushman & Wakefield to share their views on this burning topic.
07/03/2022
jason-zhang
Insights • Investment

2021 Mainland China Investor Intentions and Cap Rate Survey

As China benefits from being “first in and first out” of the COVID-19 pandemic, it has become increasingly attractive to investors both locally and from around the globe.
23/04/2021

Related Stories

Dexcom Philippines New Office Fit-out Project
Dexcom Philippines • Healthcare
Learn More
Cushman & Wakefield Stories
Booking.com Philippines Inc. • Travel
Learn More
Cushman & Wakefield Stories
OMD Philippines • Advertising
Learn More
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS