Key information about House Prices Growth

• Philippines house prices dropped 2.3% YoY in Sep 2024, following an increase of 2.7% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2015 to Sep 2024, with an average growth rate of 4.5%.
• House price data reached an all-time high of 26.6% in Jun 2020 and a record low of -9.4% in Jun 2021.

House price index in the Philippines, December, 2024 The most recent value is 265.21 index points as of Q4 2024, an increase compared to the previous value of 251.85 index points. Historically, the average for the Philippines from Q1 2008 to Q4 2024 is 166.54 index points. The minimum of 95.8 index points was recorded in Q1 2008, while the maximum of 265.21 index points was reached in Q4 2024. | TheGlobalEconomy.com

As of the third quarter of 2022, the city of Makati in Metro Manila in the Philippines reported the highest average selling price of residential properties, amounting to around 286,000 Philippine pesos per square meter. Makati City is known as the country's financial hub.

Residential Property Prices in Philippines increased 6.74 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Philippines Residential Property Prices.

In 2019, the city in the Asia Pacific region which was the most expensive in terms of prime real estate was Hong Kong, in which prime real estate cost on average **** thousand U.S. dollars per square meter. Contrastingly, in Manila prime real estate cost on average just under *** thousand U.S. dollars per square meter in 2019

As of the first quarter of 2024, the average monthly rental price of office spaces located in the city of Makati in Metro Manila in the Philippines was at ***** Philippine pesos per square meter. Makati is the financial center of the country, which is home to several multinational and local companies, including foreign embassies.

Preliminary figures suggest that residential construction in the Philippines costs an average of around ****** Philippine pesos per square meter as of the fourth quarter of 2023. During this quarter, there were about ****** constructions of approved residential building permits in the country. What Metro Manila city has the highest residential unit supply? As of the fourth quarter of 2023, Quezon City held the highest share of existing residential unit supply in Metro Manila, followed by the cities of Makati and Taguig. Labeled as the ‘Entertainment Capital of the Philippines,’ the city has been tagged as an ideal residential area in the National Capital Region (NCR) due to the cost of residential units and the general environment. Residential condo units in Quezon City, for example, have a minimum monthly rent of ***** Philippine pesos, compared to ****** in Taguig City. Leading residential construction companies Previously focused on constructing and investing in residential properties in megacities such as Metro Manila, Cebu, and Davao, most residential property management companies have expanded to other smaller towns. One of the largest real estate developers in the Philippines was SM Prime Holdings Inc., which caters to its clients mainly in Metro Manila but as well as Iloilo, Davao, and Cagayan de Oro. Its closest competitor is Ayala Land Inc, who is behind some of the most notable residential properties in Makati and Taguig.

As of the second quarter of 2022, the average selling price per square meter of condominiums in Metro Manila amounted to ******* Philippine pesos, reflecting an increase from the previous quarter. The average selling price of condos in Metro Manila peaked in the third quarter of 2020.

As of the third quarter of 2022, retail real estate in the central business district of Ortigas accounted for the highest average lease rate in Metro Manila in the Philippines. This amounted to ***** Philippine pesos per square meter. In comparison, the average lease rate in the central business district of Alabang amounted to 1,114 Philippine pesos per square meter.