The total population in the Philippines is 113,700,119 and it had about 18,270 thousand millionaires as of 2021 according to statista and it is projected that there will be 33,000 millionaires by 2026 and a mall number of 14 billionaires as of 2023 according to Forbes World’s Billionaires. It makes you wonder how these people achieve the ₱1M to ₱1B+ mark on their assets and bank accounts. Did these millionaires earn the money through their day jobs? A business? Stocks and investments? Equity? One thing is for certain, it is not easy to achieve such a feat. You might even wonder more than how they make money but intrigued on where do millionaires live in the Philippines? If that question ever crossed your mind, then this article will talk about the hotspots and the top cities where the most wealthy in the Philippines live.
So, where does the 0.01% live in the Philippines?
The 0.01% of the population or the millionaires and billionaires lives on most common cities you probably heard of. It is not totally hidden from common people and you may think they live in private mountains or remote areas with grand mansions, but they live in exclusive and private gated communities around busy cities. These places are some locations you might have come across everyday on your way to work out or maybe just going out with friends and family. Popular places like Makati, BGC, Greenhills, and even in Davao is one of the hotspots of where millionaires in the Philippines live. But one notable thing to mention is that most of the places and cities mentioned on this have one thing in common; they are located near or on urbanized and busy places which are in Central Business Districts. Without further ado, here is the list of places where you can find the lavish and extravagant homes of the 0.01%.
- Makati City (Multiple Locations)
Makati City is one of the Central Business Districts (CBD) in Metro Manila. It is one of the most developed cities in the country with ₱238.56B (US$ 4.31B) in total asset value in 2021. Forbes Park, a gated village community with luxury homes averaging to ₱800M to ₱3B (US$ 14.4M – US$ 54.4B). Located in the borders of Makati and BGC, Taguig, Forbes Park is estimated to have a combined wealth of more than $2 Trillion which is where top class businessmen, expats, actors, diplomats, ambassadors live. Another gated village community is Dasmariñas Village that houses lavish and extravagant houses which is located near Magallanes Station, close to Forbes Park, and boundaries close to McKinley Road. Another developed area in Makati, Rockwell is surrounded by residential buildings, the Powerplant Mall, and business establishments located near Poblacion, Makati.
Makati City Population (2023) – 510,383
- Davao City (Multiple Locations)
Davao City is one of the most progressive and highly urbanized cities in Mindanao with a total asset value of ₱26.6B (US$ 480M) in 2021. Another thing to mention, Davao is also a Central Business District (CBD) with an urbanized infrastructure, business establishments are growing around Davao City. One particular business diplomat, Dennis Uy, was born and raised in Davao City and is the founder and CEO of Udenna Corporation. Places in Davao City with luxurious lifestyle and homes are located in Ladislawa Garden Village, Insular and Las Terrazas.
Davao City Population (2023) – 1,949,400
- Cebu (Multiple Locations)
In 2021, Cebu was the wealthiest province in the Philippines, amounting to a total of ₱215.17B (US$ 3.89B) in total asset value. Cebu has a lot of luxury homes, specifically in Mandaue with houses averaging to ₱22M to ₱25M (approximately US$ 398,000 to US$ 452,000) Located an estimated 3 kilometers from the center of Mandaue City, Cabanacalan, is one of many subdivisions with extravagant homes located exactly at Green Hills Subdivision. It is one of the well-known gated communities in Cebu City neighborhoods alongside Northtown Homes. Manadue has a lot more gated communities with luxury homes such as St. Martin Village, El Dorado Subdivision, Santo Niño Village, and Maria Lusia Estate Park.
Cebu City Population (2023) – 1,024,945
- Greenhills, San Juan
With a whopping average price range of ₱200M to ₱800M (US$ 3.6M to US$ 14.4M) per house, Greenhills West Subdivision stands as a gated community in the neighborhood of San Juan City. Greenhills West Subdivision is located near Cardinal Santos Medical Center and a few blocks away from Greenhills shopping center.
San Juan City Population (2023) – 2,440,000
- Corinthian Gardens, Quezon City
Right in the largest city in Metro Manila, Corinthian Gardens boasts elegance in its house architecture. The prime real estate luxury homes in Corinthian Gardens screams old-money rich and generational wealth. With a whopping average price range of ₱200M to ₱500M (US$ 3.6M to US$ 9M) per house, you can get as much as five bedrooms, five baths, and definitely a status of high society life.
Quezon City Population (2023) – 3,238,343
- Valle Verde, Pasig City
An exclusive subdivision near the Central Business District of Ortigas, Valle Verde offers homes with an average price of ₱30M to ₱200M (US$ 542,000 to US$ 3.6M). With a modern architectural design for the houses, it provides a premium and luxury feel to your home where you can rest easy with comfort.
Pasig City Population (2023) – 617,301
- Ayala Alabang, Muntinlupa City
A desirable neighborhood like Forbes Park, Ayala Alabang in Muntinlupa City is a gated community which boasts an average of ₱60M to ₱200M (US$ 1M tp US$ 3.6M) to per home with included top-of-the-line amenities and is perfectly placed close to the Central Business District of Alabang, Muntinlupa. Ayala Alabang is a 7-minute drive away from Alabang Town Center with easy access to shopping centers and business establishments.
Pasig City Population (2023) – 452,493
- Bonifacio Global City, Taguig
Bonifacio Global City or BGC for short, is a Central Business District in Taguig City that offers easy access to luxurious residential establishments, business offices, dine-in restaurants, amenities, and a friendly community. In Taguig, the McKinley Hill Village is filled with modern houses which are close to BGC. With that type of neighborhood and area, the price range of fancy houses would range to ₱40M to ₱150M (US$ 722,000 to US$ 2.7M). A ₱150M (US$ 2.7M) house is totally worth it if you’re looking for a grand mansion for a big family. With up to six bedrooms and seven bathrooms plus the atmosphere, view, and ambiance of the busy city life.
Taguig City Population (2023) – 613,343
Wealth through Business, Investments, and Cash Flow
If you think about it, most millionaires and billionaires achieved their assets, equity, and bank accounts, through either investments, passive income, positive cash flow, or through a business. Of course, it didn’t happen in a span of months or a full year. But having the right knowledge about cash flow and investments you are one step closer to living the lavish lifestyle and even getting a home in the locations and places mentioned above in the list of where millionaires and billionaires live in the Philippines. If you are serious about becoming the next millionaire or even a billionaire in the Philippines and thinking about starting your own business, then Shoppable Business can be your stepping stone in providing you the tools you need to start your business.
