Colliers Philippines is projecting a measured rebound in the property market, even as the economy posts its slowest growth since 2011.
The Philippine economy expanded by 4 percent in the third quarter, dragged down by weaker household consumption and a slowdown in government infrastructure spending. The nine-month GDP average now stands at 5 percent, below the government’s 5.5–6.5 percent target.
“Until we see governance reforms and a return of private investor confidence, property opportunities won’t be shouting—they’ll be whispering,” said Joey Roi Bondoc, Colliers Director of Research. Yet despite the slowdown, pockets of strength are emerging in residential and office markets.
The Metro Manila pre-selling condominium market surprised analysts with back-to-back quarters of net take-up growth. Affordable to mid-income units (PHP2.5 million to PHP12 million) accounted for over 90 percent of net demand in the first nine months of 2025, driven by ready-for-occupancy promotions, holiday bonuses, and remittance inflows. Colliers recommends developers target peripheral locations with cheaper land and cater to the mid-income segment, which is rebounding strongly.
In the office market, demand has exceeded 2025 projections, supported by easing space surrenders after POGO exits and robust pre-leasing in new buildings. Cebu is emerging as a secondary hotspot, recording higher transaction volumes than most Metro Manila submarkets. Colliers encourages occupiers to explore flexible, asset-light leasing solutions to stay agile in a cautious market.
The Bangko Sentral ng Pilipinas has cut policy rates to 4.75 percent amid slowing growth and weak business confidence, supporting borrowing and property investments.
Colliers’ outlook highlights resilience in mid-income residential and strategic office segments. While broader economic growth is subdued, property demand in key sectors continues quietly, offering selective opportunities for developers and investors ready to act on a market that is whispering—but not yet sprinting.
