Cautiously Optimistic: Philippine residential market prepares for growth in 2025

LIVING PHILIPPINES

- Pamela Imperial

Property Report attended the Full Year 2024 PH Property Market Report hosted by Leechiu Property Consultants (LPC). The event focused on the challenges and opportunities facing the residential property sector. As 2024 draws to a close, the market has demonstrated both resilience and a cautious outlook, presenting unique opportunities for buyers and developers to realign their strategies.

OPPORTUNITIES AMIDST A SLUGGISH RESIDENTIAL MARKET The residential property market in Metro Manila experienced a significant slowdown in 2024. Sales take-up for the first eleven months dropped 63% compared to full-year 2023, and new project launches fell to approximately half of last year's volume. While these figures underscore the market's cautious state, they also present an opportune moment for buyers.

"As developers recalibrate their selling strategies, this might provide an opportunity for buyers waiting on the sidelines to enter the market and invest in residential properties," said Roy Golez, LPC's Director of Research and Consultancy.