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 fourth quarter of 2023, preliminary figures indicated that the average cost per square meter of industrial construction in the Philippines was about ***** Philippine pesos. The average per square meter cost of industrial construction fluctuated since 2020, with the lowest per square meter cost in the third quarter of 2023.

As of the fourth quarter of 2023, preliminary figures indicated that non-residential constructions in the Philippines cost an average of ****** Philippine pesos per square meter. The average per square meter cost of non-residential constructions in the country was lowest in the third quarter of 2023.

As of the fourth quarter of 2023, preliminary figures indicated that the average cost per square meter of commercial construction in the Philippines amounted to about ****** Philippine pesos. The average per square meter cost of commercial construction in the country was lowest in the second quarter of 2021.

Residential condominiums were the most expensive type of residential construction in the Philippines in 2024, at roughly ****** Philippine pesos per square meter. In contrast, apartments or accessorias were the least expensive type of residential construction.