BPO workers find condo ownership harder these days

MANILA, Philippines – Many Filipinos employed in the business process outsourcing (BPO) industry are fast becoming priced out of Metro Manila’s condominium market as rental rates continue to appreciate, global online property platform Lamudi said.

In a latest report using data from its 80,000-plus property listings, Lamudi found that even BPO employees at supervisory and managerial levels would be struggling to afford renting a condo, let alone buy, in most of Metro Manila’s townships or central business districts.

“This comes as a surprise, as most of these condos are situated close to BPO offices,” Lamudi said.

Using the 30 percent rule or not spending more than 30 percent of one’s salary on housing, the Lamudi report showed that only those working as managers in BPO firms may be able to afford a condo in select areas in Metro Manila.

These areas include Eastwood City, Pioneer-EDSA, and Poblacion and San Antonio in Makati where average rents of one-bedroom and studio condos range from P19,838 to P22,563.

Meanwhile, Lamudi said condos situated within Ayala Center, Rockwell Center, Ayala Triangle – Apartment Ridge, and Bonifacio Global City are the most out-of-reach as employees must be earning an average P308,577, P187,691, P183,333, and P155,217, respectively, per month in order to afford even the smallest units in these areas.

Lamudi Philippines managing director Jacqueline van den Ende said the results of the company’s analysis highlight the mismatch between the supply and how much BPO workers can afford.

“It is unfortunate that most of the inventory available now is beyond the means of BPO employees, who will benefit immensely from living close to their work places,” Van den Ende said.

According to data from Lamudi, entry-level customer care representatives receive an average P22,500 per month, while supervisors and managers receive P32,500 and P75,000 per month, respectively.

With Metro Manila’s worsening traffic conditions, Lamudi said most BPO employees living as far north as Bulacan and as far south as Cavite and Laguna could save plenty of time spent daily on commuting should they have an affordable place to rent near their offices.