Fairway Terraces: Affordable Condo Living in Quezon City…or Just a Compromise?

Fairway Terraces in Pasay City offers units starting at around ₱2.7 million, a price point that immediately signals affordability in a metro where condominium prices have climbed steadily. For a buyer or renter looking at the lower end of the market, that figure is the hook — but it also raises the first question: what exactly are you getting for that price, and where is the trade-off hiding?

The development sits in Villamor Airbase, Pasay City, a location that is neither the heart of Makati nor the sprawl of Quezon City. Its proximity to NAIA Terminals 1 through 4 — the closest being Terminal 3 at just 3.5 km away — makes it a practical choice for frequent flyers and aviation workers. But that same location also places it near the flight path, a detail worth weighing if you are sensitive to noise. For context on how location trade-offs play out in other developments, you might compare this with the experience of living in a high-density tower like Air Residences, where proximity to transport hubs comes with its own set of compromises.

What Fairway Terraces Actually Offers

The core appeal here is straightforward: you get a high-rise condominium with a functional set of amenities — swimming pool, gym, garden, and security — at a price that undercuts most comparable developments in Makati or BGC. The trade-off is that you are not getting a premium location or a luxury finish. The development was turned over in late 2018, so units are now several years old, which means wear and tear will vary by unit and by how well the previous owner maintained it.

For a first-time buyer or someone looking to enter the Metro Manila condo market without stretching beyond ₱5 million, Fairway Terraces fits a specific niche. It is not a showpiece. It is a functional home near the airport with enough amenities to cover the basics. The question is whether the location and the building’s age make it a smart buy or a compromise you will outgrow in a few years.

Location: The Airport Proximity Advantage and Its Costs

Fairway Terraces is roughly 10 minutes from NAIA Terminal 3 and within 20 minutes of all other terminals. For anyone whose work involves regular air travel — pilots, cabin crew, airport staff, or business travellers — that convenience is hard to beat. The development is also close to Villamor Golf Club, which is less than a kilometre away, and several major commercial areas are within a 15- to 20-minute drive: SM Aura and Bonifacio High Street are both about 5 km away, and SM Mall of Asia is roughly 7.5 km away.

Schools in the area include the Philippine State College of Aeronautics, which is practically next door, and Assumption College about 5 minutes away. For families, the presence of Don Bosco Technical Institute and Asia Pacific College within a 10-minute drive adds some educational options, though the area is not known for a dense concentration of top-tier schools the way Quezon City or Makati is. Hospitals are accessible but not immediately adjacent — Makati Medical Center is about 14 minutes away, while Asian Hospital in Alabang is about 16 minutes away under good traffic conditions.

The location also places you near entertainment and casino complexes like City of Dreams and Solaire, which are within a 15- to 20-minute drive. That proximity can be a perk for some residents, but it also means the surrounding area has a specific character — more transient, more airport-adjacent, and less of a traditional residential neighbourhood. If you are comparing this with a development in a more established residential zone, such as The Columns along Ayala Avenue, the difference in neighbourhood feel is substantial.

What Often Gets Overlooked About Fairway Terraces

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The Age Factor and Unit Condition

Because the building was turned over in late 2018, units are now roughly six years old. That is not old for a condominium, but it is past the “brand new” premium phase. Some units will have been well-maintained; others may show signs of wear in the kitchen and bathroom fittings. The price range on the resale market — from ₱4.3 million to ₱13.2 million — reflects this variability. A ₱4.3 million unit may need cosmetic updates, while a higher-priced unit likely includes upgrades or a better view. Buyers should budget for potential renovation costs, especially if purchasing a lower-priced unit.

Rental Yield Realities

Rental prices range from about ₱25,000 to ₱58,000 per month. At the lower end, that rental income against a purchase price of ₱4.3 million yields roughly 7% annually before expenses — a respectable figure in the Metro Manila market. However, the tenant pool here skews toward airport workers and short-term renters, which can mean higher turnover and more frequent vacancy periods compared to developments in business districts where demand is more stable. For a more detailed look at how rental dynamics work in a different context, the experience at Knightsbridge Residences in Century City offers an instructive contrast.

The Parking Situation

The building has three basement parking levels, which is adequate but not generous for an 18-storey residential tower. If you own a car, parking availability and cost should be confirmed early in the buying process. Some units may not come with a parking slot included in the price, and separate parking rentals in the area can add ₱3,000 to ₱5,000 per month to your housing cost.

Practical Considerations Before You Buy or Rent

Assess Your Commute Honestly

Fairway Terraces is well-positioned for airport access and reasonably close to Makati and BGC, but traffic in the area around NAIA and the Nichols Interchange can be unpredictable. If your workplace is in Alabang or Ortigas, the commute may be longer than the distance suggests. Drive the route during peak hours before committing. The development is accessible via EDSA, the Magallanes Flyover, and Osmeña Highway, but these are all high-traffic corridors.

Inspect the Unit and Building Common Areas

Because the building is several years old, a thorough inspection is essential. Check for signs of water leakage, especially in higher floors and units near the roof deck. Test the air conditioning, plumbing, and electrical outlets. Walk the hallways and common areas — the condition of the lobby, elevator, and hallways tells you a lot about the building management’s quality. Ask about the association dues and whether there are any pending special assessments for major repairs.

Understand the Payment Terms

For resale units, payment terms vary. Some sellers offer in-house financing, while others require bank financing or cash. The standard 30-70 scheme (30% down payment, 70% balance upon turnover or through financing) is common. Get pre-approved for a home loan before you start negotiating so you know your budget ceiling. Factor in closing costs, which typically add 5-7% to the purchase price.

Consider the Noise Factor

This is the most commonly underappreciated issue. Aircraft noise from NAIA is real, especially during daytime and early evening hours. If you work from home or have young children who nap during the day, this could be a significant drawback. Visit the unit at different times of day — including late evening — to gauge the noise level. Units on the side facing away from the runway will be quieter.

Frequently Asked Questions

Final Thoughts

Fairway Terraces is not a luxury development, and it does not pretend to be. What it offers is a functional, affordable entry point into Metro Manila condo living with a location that works exceptionally well for airport access. The trade-offs — aircraft noise, an older building, and a neighbourhood that leans transient — are real but manageable if you go in with clear expectations. If your priority is getting the most space for your money near the airport, this development deserves a serious look. If this was useful, you might also want to read our honest take on S Residences.

Sources

Arya Residences: Eco-Friendly Living Review — A look at another DMCI development where design philosophy meets practical trade-offs.

Fairway Terraces Condo Listings. Dot Property, 2025.

Fairway Terraces Project Details. DMCI Homes Broker, 2025.