Cebu's office vacancy rate hits lowest since pandemic

Cebu’s office market staged a strong recovery in the first half of 2025, with vacancy rates dropping to their lowest level since the pandemic as outsourcing companies accelerated expansions.

- By Ehda M. Dagooc

According to Colliers Philippines, overall vacancy in the city eased to 16.8 percent at the end of the second quarter, down from 21.3 percent in the previous quarter.

The decline was driven by large transactions from business process outsourcing (BPO) firms, which accounted for two-thirds of office demand.

Cebu logged 88,000 sq meters (946,900 sq feet) of office transactions in first half of 2025, surpassing its full-year tally in 2024.

The second quarter alone contributed 67,600 sq meters (727,400 sq feet), representing a 145 percent year-on-year surge.