A recent study conducted by consumer data aggregator iPrice Group has revealed that Manila is the third most expensive city to live in, within the Southeast Asian (SEA) region.
Essential living expenses such as utilities, rent, food and transportation were found to average a total of P50,798 a month, according to the Malaysian firm’s findings.
This sharply contrasts the average monthly net earnings of residents which totals at around P18,900.
Apart from cost of living being 168% higher than monthly wage earned, the latter is also the lowest among cities in the Association of Southeast Asian Nations (ASEAN).
Worse still, the study also indicated that Manila’s rental rate is the 2nd highest among the cities included, coming in just behind Singapore.
On average, a single bedroom apartment in the heart of the city would cost P22,000 a month.
The figure is 47% higher than rental rates in Jakarta, Indonesia, which ranks right below Manila in 4th place for cost of living in SEA.
Even with rent cut from the total monthly expenses for an individual in Manila, P28,800 on average still weighs heavy on citizens.
iPrice commented on the findings, stating that the numbers provide insight into the quality of life in Manila.
“…Leisure expenses or take-outs are kept to a minimum or aren’t enjoyed at all” the group said.
They also mentioned how the results from a study conducted under the Borgen Project, which looks into global poverty, were unsurprising given their own data.
35% of the Metro Manila populace is reported to live under poor conditions in the slums, with 11% settling near railroads or dumpsites.