Vacancies continue to weigh heavily on the office sector in Metro Manila and most major urban centers, but one southern city has quietly flipped into a landlord’s market.
The Philippines is opening its doors wider to global capital after President Ferdinand Marcos Jr. signed a law allowing foreign investors to lease private land for up to 99 years.
Metro Manila’s hotel market held steady in the first half of 2025 as domestic tourists and in-person events offset a decline in foreign arrivals, keeping average occupancy at 64 percent.
After weathering the office downturn, Makati Central Business District is set to shift in favor of landlords by 2026 with falling vacancies and a resurgence in demand.
The new normal is shifting once again, as 54 percent of companies have adopted a full return-to-office (RTO) setup, adding to signs of a retreat from remote work, based on Colliers’ fourth quarter 2024 survey results.
Real estate prices in Metro Manila have consistently surged after elections, reflecting the deep connection between business and politics, according to Colliers Philippines’ 2025 data.
Metro Manila’s condo surplus deepened the past year, with unsold units swelling to 74,000 worth P158 billion—a 77-percent jump from 2023, according to Colliers Philippines.