Aug 28, 2026 · by BalayHub Admin · 6 min read

Makati Villages Guide 2026: Forbes, Dasma, Urdaneta, Bel-Air

Makati villages guide: Forbes Park, Dasmariñas, Urdaneta, Bel-Air, San Lorenzo and Magallanes, land from ₱300,000 to ₱704,000 per sqm, rents from ₱120,000.

Makati Villages Guide 2026: Forbes, Dasma, Urdaneta, Bel-Air

Makati has the most expensive residential land in the Philippines, and almost all of it sits behind the gates of a handful of villages laid out by the Ayalas from the 1940s onward. This Makati villages guide walks the six that matter to a buyer or a tenant, from Forbes Park down to Magallanes, with the lot values and the rents that define each one, because the word "village" covers everything from a ₱700,000 (about $11,200 / €9,640) per square meter estate to a three bedroom you can rent for ₱120,000 (about $1,920 / €1,650) a month.

The villages are gated subdivisions with their own homeowners' associations, their own security and, in most cases, a ban on commercial use inside the gates. What they sell is space and quiet in the middle of the central business district, and the market prices that scarcity with numbers no other Philippine neighborhood reaches.

The price ladder, village by village

Leechiu Property Consultants' second quarter 2025 figures, reported by the Inquirer, put Dasmariñas Village at ₱704,000 (about $11,300 / €9,700) per square meter and Forbes Park at ₱649,000 (about $10,400 / €8,940), both still edging up while the condominium market softened. Forbes carries the more prestigious name and the lower rate only because its lot cuts are far larger, so the same money buys a bigger property. Santos Knight Frank's first half 2024 ladder fills in the rest: Urdaneta around ₱550,000 (about $8,800 / €7,580) per square meter, Bel-Air about ₱480,000 (about $7,680 / €6,610), San Lorenzo near ₱400,000 (about $6,400 / €5,510) and Magallanes close to ₱300,000 (about $4,800 / €4,130). For scale, a Makati condominium runs around ₱200,000 (about $3,200 / €2,750) per square meter of floor area in our Makati price per square meter guide; village land costs two to three times that per square meter, and you still have to build the house.

Forbes Park and Dasmariñas: the top of the market

Forbes Park is the first gated subdivision in the country, built around the Manila Golf and the Manila Polo clubs and split by McKinley Road into North and South. Lots are measured in the thousands of square meters, houses come with pools, staff quarters and multi car garages, and the residents are the families, diplomats and executives everyone assumes. Rents, according to the brokerage Presello, start around ₱500,000 (about $8,000 / €6,890) a month and pass ₱1,000,000 (about $16,000 / €13,800) for the estates.

Dasmariñas Village sits between EDSA, the Skyway and McKinley Road, with two parks, sports courts and quick access to the international schools and embassies that its expatriate tenants care about. It has become the value per square meter leader because its lots are smaller than Forbes and renovation into contemporary houses is common. Presello quotes ₱350,000 to ₱700,000 (about $5,600 to $11,200 / €4,820 to €9,640) a month and up for rentals, and the ₱704,000 (about $11,300 / €9,700) per square meter land figure means even a 600 square meter lot is a ₱400 million (about $6.4 million / €5.51 million) plus asset before the house.

Urdaneta and Bel-Air: walking distance to Ayala Avenue

Urdaneta Village is small, strictly residential in its primary area and sits directly across from Ayala Triangle, which makes it the closest a village gets to the towers on Ayala Avenue; the Ritz, Pacific Plaza and Twin Towers condominiums stand on its edge. At around ₱550,000 (about $8,800 / €7,580) per square meter it is the choice for buyers who want Forbes level privacy with a five minute walk to the office.

Bel-Air, on the site of the old Nielson airport north of the CBD, was originally laid out for airline pilots and today spans four phases that touch Rockwell, Century City and the Jupiter Street restaurant strip. It is the most varied of the villages in house size and price, which is why Presello's rental range is ₱150,000 to ₱300,000 (about $2,400 to $4,800 / €2,070 to €4,130) a month, a third of Dasmariñas, and why it is the usual entry point for a professional family that wants a village address near Poblacion.

San Lorenzo and Magallanes: the practical villages

San Lorenzo Village wraps around Greenbelt and Legazpi Village, with Assumption College inside the gates and the airport road a few minutes away. Lots are more modest and demand from executives and frequent travelers is constant, so rents hold at ₱180,000 to ₱350,000 (about $2,880 to $5,600 / €2,480 to €4,820) a month. Our listings include a five bedroom house on a 475 square meter lot on San Lorenzo Drive at ₱220,000 (about $3,520 / €3,030) a month, which is the realistic midpoint for a well kept family house there. Just outside the gates, a renovated three bedroom in San Antonio rents for ₱120,000 (about $1,920 / €1,650), the price of a Makati house address without a village gate.

Magallanes Village is the southern outlier, across EDSA from the rest, next to the Magallanes interchange and closest to NAIA and the Mall of Asia complex. Land at about ₱300,000 (about $4,800 / €4,130) per square meter is less than half of Forbes, the streets are quieter and more suburban, and it is the village people choose when the airport matters more than Ayala Avenue.

How to buy or rent in a village

Buying is a land transaction first. Most sales are of old houses valued at lot price, so the question is what the association allows you to build: setbacks, height limits, the ban on commercial use and, in some villages, restrictions on subdividing lots. Ask for the deed restrictions and the association bylaws before you make an offer, and budget the association dues, which fund private security and street maintenance and run far above a condominium's. Foreigners cannot own the land, so a foreign family in Forbes or Dasmariñas is almost always renting; where to live in Makati compares the villages with the condominium districts for that decision.

Renting is a lease of a whole house, usually two years with a two month deposit and advance, and the landlord's association clearance is part of the paperwork. Tenants should check the age of the house, since many were built decades ago, and the flood behavior of the street in the wet season; Bel-Air and San Lorenzo have low pockets. The cost of living in Makati covers what a village budget looks like beyond the rent.

Village houses rarely list publicly, so the houses in Makati on the market are a small sample; use the property valuation tool to sanity check any asking price against the per square meter ladder above, and remember that in these six villages the land is the price and the house is a rounding error.

Land values and rents are from the published sources cited and from BalayHub listings at the time of writing; they are indicative, not appraisals. Association rules and restrictions differ by village and change over time.

Dollar and euro figures are approximate conversions at ₱62.5 per US dollar and ₱72.6 per euro (ECB reference rates, 2026-09-08).

Frequently asked questions

What are the villages in Makati?

The gated residential subdivisions inside the city, mostly laid out by the Ayalas from the 1940s: Forbes Park, Dasmariñas Village, Urdaneta Village, Bel-Air, San Lorenzo Village and Magallanes Village are the six that define the market, with San Miguel, San Antonio and Palm Village as smaller or open neighborhoods. Each has its own homeowners' association, private security and deed restrictions that usually ban commercial use.

How much is land per square meter in Forbes Park and Dasmariñas Village?

Leechiu Property Consultants' second quarter 2025 figures put Dasmariñas Village at ₱704,000 (about $11,300 / €9,700) per square meter and Forbes Park at ₱649,000 (about $10,400 / €8,940). Forbes carries the more prestigious name but a lower rate because its lots are far larger, so the total price of a Forbes property is usually higher. Urdaneta sits around ₱550,000 (about $8,800 / €7,580), Bel-Air about ₱480,000 (about $7,680 / €6,610), San Lorenzo near ₱400,000 (about $6,400 / €5,510) and Magallanes close to ₱300,000 (about $4,800 / €4,130) per square meter.

How much does it cost to rent a house in a Makati village?

From roughly ₱150,000 (about $2,400 / €2,070) a month for a house in Bel-Air or ₱180,000 (about $2,880 / €2,480) in San Lorenzo, through ₱350,000 to ₱700,000 (about $5,600 to $11,200 / €4,820 to €9,640) in Dasmariñas, to ₱500,000 (about $8,000 / €6,890) and well above ₱1,000,000 (about $16,000 / €13,800) for estates in Forbes Park, according to published brokerage ranges. Our listings include a five bedroom in San Lorenzo Village at ₱220,000 (about $3,520 / €3,030) a month and a renovated three bedroom just outside the gates in San Antonio at ₱120,000 (about $1,920 / €1,650).

Can a foreigner buy a house in Forbes Park or Dasmariñas?

Not the land. Philippine law limits land ownership to Filipino citizens and majority Filipino corporations, so a foreigner cannot hold title to a village lot, which is why foreign families in Forbes or Dasmariñas are almost always tenants. A foreigner may own a condominium unit, and a Filipino spouse may hold the village property in their own name. Take legal advice before structuring any purchase.

Which Makati village is best for someone working on Ayala Avenue?

Urdaneta Village, which sits directly across from Ayala Triangle and is a short walk to the towers on Ayala Avenue, followed by San Lorenzo, which wraps around Greenbelt and Legazpi Village. Bel-Air suits people who want Rockwell and Poblacion within walking distance at lower rents, while Magallanes is the pick when the airport and the Skyway matter more than the office.

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