Philippines Real Estate Market Size 2025 | Projected to Reach USD 131.41 Billion by 2033 | growing at a 4.34% CAGR

The latest report by IMARC Group, “Philippines Real Estate Market Size, Share, Trends, and Forecast by Property, Business, Mode, and Region, 2025-2033,” provides an in-depth analysis of the Philippines real estate market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The Philippines real estate market size reached USD 90.51 Billion in 2024 and is projected to grow to USD 131.41 Billion by 2033, exhibiting a CAGR of 4.34% during the forecast period.

Report Attributes and Key Statistics:

Base Year: 2024

Forecast Years: 2025-2033

Historical Years: 2019-2024

Market Size in 2024: USD 90.51 Billion

Market Forecast in 2033: USD 131.41 Billion

Market Growth Rate: 4.34% (2025-2033)

Philippines Real Estate Market Overview:

The Philippine real estate market is growing quickly due to rapid urbanization, advancements in technology, and increased speculation. Developers are backing affordable housing projects to meet the needs of urban centers, while the government is drawing in global investors. Major cities like Metro Manila, Cebu, and Davao need more mixed-use developments, residential spaces, and rental properties to reflect urban growth trends.

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Philippines Real Estate Market Trends and Drivers:

Builders are introducing new housing options, like vertical developments and gated communities, to satisfy urban residents. The market is seeing a surge in mixed-use projects that combine residential, commercial, office, and entertainment spaces for added convenience. Government infrastructure programs, along with initiatives like "Build, Build, Build," are making surrounding areas more appealing for development. Investments from afar are increasing due to easier processes and modern financial practices, including the Luzon economic corridor announced in March 2024.

The market is fueled by population growth, urban migration, and rising property prices, all of which are driving the demand for affordable housing and commercial real estate. Improvements in infrastructure, such as new transportation systems, are boosting property values and attracting international companies. The influx of overseas Filipino workers is increasing demand for real estate, especially in the affordable and mid-range sectors.

Market Challenges and Opportunities:

However, there continues to be an oversupply of pre-selling and ready-for-occupancy units, particularly in the mid-income condominium sector. This surplus has led to years of unsold inventory. Estimates suggest absorption timelines of 5 to 8 years in Metro Manila. Weak demand for office and residential leasing, partly due to the exit of offshore gaming operators and high interest rates, is raising vacancy rates and putting pressure on land values. Developers are facing rising costs, slim margins, and slower turnover, especially as payment timelines extend and financing becomes tougher.

Despite these challenges, there is still a long-term need for affordable housing. Estimates indicate a multi-million unit shortfall, especially in Metro Manila, Cebu, and Davao. Renewed interest in areas like Iloilo, Pampanga, Clark, and Davao is creating new growth opportunities outside the capital. Green building certifications and sustainable renovations are attractive to investors and tenants who focus on environmental, social, and governance (ESG) principles, improving property values and market competitiveness. The use of technology, through virtual platforms, blockchain, and online listings, speeds up property marketing, remote transactions, and access for overseas Filipino investors.

Philippines Real Estate Key Growth Drivers:

• Rapid urbanization and growing middle class
• Infrastructure development and government initiatives
• Rising foreign investment and bilateral economic projects
• Expansion of mixed-use and vertical developments
• Increased remittances from overseas Filipino workers
• Focus on affordable and sustainable housing solutions

Philippines Real Estate Market Segmentation:

By Property:

• Residential
• Commercial
• Industrial
• Land

By Business:

• Sales
• Rental

By Mode:

• Online
• Offline

By Region:

• Luzon
• Visayas
• Mindanao

Competitive Landscape:

Major Real Estate Developers in the Philippines

• Ayala Land, Inc.
• SM Prime Holdings (via SMDC)
• Filinvest Land / Filinvest Development Corporation
• Megaworld Corporation
• DMCI Homes / DMCI Holdings
• Robinsons Land Corporation
• Century Properties Group
• Rockwell Land
• Vista Land and Lifescapes (including Camella Homes)
• Shang Properties
• Sta. Lucia Land
• APEC Homes

Philippines Real Estate Market News:

·      July 2, 2025: At the Asian Real Estate Summit (ARES) held in Bangkok, industry experts projected a minimum of 5% annual growth for the Philippine real estate market. This growth is expected to be driven by major infrastructure developments such as new expressways and bridges, along with regional economic expansion and strong housing demand in Central Luzon, Visayas, and Mindanao.

·      June 27, 2025: The Bangko Sentral ng Pilipinas (BSP) reported a 7.6% increase in the Residential Property Price Index (RPPI) for Q1 2025, following a 9.8% surge in Q4 2024. In Metro Manila, prices rose 13.9%, with condominium units up 10.6% and house prices increasing by 4.5%.

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