Residential property prices pick up 4.5 percent in Q1

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June 29, 2026 | 12:00am

MANILA, Philippines — Residential property prices in the Philippines rose in the first quarter, led by higher prices in Metro Manila and a recovery in condominium values, according to the Bangko Sentral ng Pilipinas.

The BSP’s Residential Property Price Index rose by 4.5 percent to 156.7 in the January to March period from 149.9 a year ago. It was also 5.6 percent higher on a quarterly basis, reversing two straight quarters of decline.

“Quarterly growth in property prices was broad-based in the first quarter of 2026, with both the National Capital Region and areas outside NCR contributing to the increase,” the central bank said.

In Metro Manila, residential property prices jumped by 10.4 percent from the previous quarter, a turnaround from the two-percent drop in the fourth quarter of 2025. Prices in areas outside NCR also increased by 2.5 percent quarter on quarter.

Within areas outside NCR, Balance Greater Manila Area, which covers Batangas, Bulacan, Cavite, Laguna, Pampanga and Rizal, posted the fastest quarterly growth at 4.3 percent. Metro Mindanao followed with 1.4 percent while Metro Cebu rose by 1.3 percent.

However, prices in other areas in the Philippines continued to decline, falling by 1.9 percent from the previous quarter.

By housing type, condominium units drove the nationwide rebound as prices climbed by 11.1 percent quarter on quarter after three consecutive quarters of decline. House prices rose by a more modest 0.8 percent.

“The increase in (condominium) prices was supported by the broader recovery in the property sector, alongside developers’ aggressive promotional offers and more flexible payment terms, particularly for ready?for?occupancy units,” the BSP said.

In NCR, condominium prices surged by 13.2 percent from the previous quarter, while house prices rose by 0.8 percent. Outside NCR, condominium prices increased by 7.1 percent while house prices also grew by 0.8 percent.

Despite the quarterly rebound in prices, residential real estate loan availments weakened sharply. The number of residential real estate loans granted fell by 23.9 percent quarter on quarter across all areas and housing types.

The BSP said this came amid rising property prices, continued consumer pessimism and tighter credit standards for housing loans.

The nationwide median price across all housing types stood at P3.9 million. Condominium units had a median price of P4.72 million, higher than the P3.39 million median price for houses.