PH Property Outlook: What's sizzling, what's fizzling in 2026

Different sectors, different results.

- By JOEY ROI BONDOC Director and Head of Research, Colliers Philippines

We have a mixed property prognosis for the next 12 months.The office segment was able to breach our initial estimate as outsourcing firms and traditional occupants took up massive space the past 12 months. The Metro Manila condominium market surprised a lot of stakeholders, with net take-up rebounding significantly in Q3 2025 due to attractive promos offered by developers despite elevated bank mortgage rates. The retail sector has been the most resilient, backed by brisk take-up from foreign brands and mall developers' aggressive refurbishment of retail spaces. International tourist arrivals YTD are subpar, with much of the recovery in hotel rates and occupancies due to strong local market. Meanwhile, we remain optimistic for the industrial sector with Philippine exporters projecting decent growth next year and as more foreign investment pledges materialize in 2026.