Philippines’ Manila may be the most famous hot spot in the country, but did you know that this tropical country houses a lot more beautiful cities? However, they’re more than just pretty scenery.
The Philippines has long been recognized as one of the world’s premier destinations for opulent living. Recent research conducted by Oxford Business Group indicates that the economy of the Philippines is the strongest in all of Southeast Asia.
It is widely regarded as having one of the highest levels of economic performance in the world. In the future years, it is also anticipated that the economy would continue to expand at a healthy rate.
The growth of the economy in the Philippines is also helped along by the contributions of a number of the country’s major cities.
Below are the Top 10 Richest City in the Philippines 2023:
|10||Cagayan De Oro|
The richest city in the Philippines is Makati City, which is the Philippines’ financial center. With a net worth of Php34.461 billion, it is unsurprisingly the richest city in the Philippines.
Hundreds of businesses run 24 hours a day, 365 days a year in every building. It also features a number of upscale shopping complexes despite its comparatively tiny land size of 2,735 hectares. According to the city government’s 2022 report, Makati City has 83,353 enterprises, 569 banks, and 62 malls. It is without a doubt the richest city in the Philippines.
There are many apartments, houses, and rooms for rent if you want to reside here. Unfortunately, the more reasonable ones are on the outskirts of town, while the more costly ones aren’t exactly in the heart of things.
Brio Tower is a 30-story residential tower with a 5-story basement parking garage. This DMCI condo will include amenities such as a gazebo, swimming pool, sky lounge, and a linear park, making it an excellent investment for those seeking the ideal work-life balance.
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Second richest city in the Philippines is the Quezon Metropolis, which is the Philippines’ largest city, covering approximately 16,533 hectares. It was the capital city for 28 years. With a net worth of Php31.917 billion, it is now the Philippines’ second richest city.
This city is home to several government agencies, including the Sandiganbayan, the Commission on Audit, and the House of Representatives. Furthermore, it is home to two of the most prestigious universities in the Philippines, the University of the Philippines and Ateneo de Manila University. That is why there are so many condominiums for rent in this area.
Aside from being close to the MRT and LRT Cubao stations, this DMCI Homes condo is also close to the Quezon City Circle, UP Diliman, and Greenhills Mall. Just below it are businesses that cater to your immediate requirements, such as washing facilities, eateries, and a mini-market.
Pasig City ranked third in previous year’s top ten with a net worth of Php20.036 billion. It, too, has its own commercial business sector in the heart of Ortigas Center, just a few minutes away from one of the metro’s most prominent malls. Getting into and out of Pasig City might be difficult due to the dense traffic that surrounds it. It is preferable to rent or buy a condo here rather than a house or apartment in Pasig’s outskirts.
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It’s somewhat surprising that Manila, while being one of the Philippines’ largest cities and having the densest population, only ranks fourth with a net worth of Php13.131 billion. It’s a lively city noted for its numerous tourist attractions, owing to architectural marvels developed during the Spanish era. There are numerous enterprises in Manila that thrive on these tourism attractions.
Because of its greater security to other residential buildings, business-minded folks would prefer to rent a condo here.
Fifth on the list is Zamboanga City, which people might not expect.
Zamboanga, which is ranked number five on the list, is widely regarded as the sardine capital of the Philippines. It is possible that the major sardine factories and other major corporations that have invested here have contributed to its current net value of 10.464 billion Philippine pesos.
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Cebu city is the wealthiest city in the Philippines’ southern region, often known as the Queen City, comes in at number six on the list with a total of Php7.885 billion. It serves as the headquarters for several major oil firms and financial institutions. The annual Sinulog celebration in Cebu draws a large number of visitors, which contributes to the island’s rising gross domestic product.
Those who are interested in investing in real estate in this area may consider purchasing a home that can be used for short-term rentals in the event that they do not yet want to make their permanent home in this location.
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Seventh on the list of the richest cities in the Philippines, Caloocan takes the spot among all the remaining cities, and it is on its way to becoming one of the country’s most important urban centers.
The previous year, Caloocan City had a total income of P6.894 billion, which contributed to the city moving up the rankings. Keep an eye out for real estate opportunities in this location since, as this urban area continues to modernize, prices have the potential to surge significantly.
Despite having a relatively low annual income of Php4.887 billion, Marikina has climbed from top 20 on the list of richest cities in the Philippines to its current position of top 8.
Because of its dense population of companies and industries as well as its status as the shoe center of the Philippines, it is at an advantageous location. On the other hand, the lower sections are susceptible to floods on occasion. Despite what one may think, investing in real estate in this area is not a wise choice.
Top 9 of the richest cities in the Philippines is Calamba, Laguna.
Calamba City is well-known for its hot springs due to its proximity to Makiling Mountain, which is located 54 kilometers to the south of Manila. Because of this, locals in the Philippines often jokingly refer to the city as the capital of team building. As of the end of 2021, it has already amassed a revenue of Php4.690 billion, placing it ninth on the list of the 10 richest cities in the Philippines in 2023.
10) Cagayan De Oro
Cagayan de Oro City, despite being located in the more northern region of Mindanao, rounded out the list of the top 10 richest cities in the Philippines in 2023 with a revenue of Php4.670 billion. Tourism and local small enterprises in the area are the primary contributors to this phenomenon.
And with that, our tour of the top 10 wealthiest cities in the Philippines is at an end. All of these cities offer something amazing, which speaks to you the most?