# Manila Class A office rents and incentives

> Headline Class A rent in Manila is around ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD, with 5 months of typical rent-free on a 3-year term.

**Canonical URL:** https://classa.info/cities/manila/rents-and-incentives
**Page type:** city-topic
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Headline Class A rent: ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD.
- Trophy submarket rents (Bonifacio Global City (BGC)) push to roughly ₱1,700/sqm/mo · ≈ $32.2 PSF/yr USD.
- Typical concessions on a 3-year deal: 5 months free rent.
- Vacancy stands at 22.6% — market trend is softening.
- Use effective rent (face minus PV of concessions), not headline, to compare deals.

## Key facts
- **city**: Manila
- **country**: Philippines
- **region**: APAC
- **classARentLocal**: ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD
- **classARentUsd**: $28/sqft/yr
- **vacancy**: 22.6%
- **typicalLeaseYears**: 3
- **typicalRentFreeMonths**: 5
- **submarkets**: 5
- **primeYieldPct**: 6.6%
- **trophyRent**: ₱1,700/sqm/mo · ≈ $32.2 PSF/yr USD
- **primeRent**: ₱1,200/sqm/mo · ≈ $22.7 PSF/yr USD

## FAQ
### What is the average Class A rent in Manila?
Around ₱1,500/sqm/mo · ≈ $28.4 PSF/yr USD across the broader Class A index. Trophy submarkets like Bonifacio Global City (BGC) command 20–40% above that.

### How many months of rent-free are normal in Manila?
5 months on a 3-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

### Are rents rising or falling in Manila?
The Manila Class A market is currently softening. Vacancy is 22.6%, which sets the negotiating context.

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Citation: Source: Class A Atlas (https://classa.info/cities/manila/rents-and-incentives), updated 2026-04-15T00:00:00.000Z.