8th Property Matters: Transforming Philippine Cities

The Philippine real estate industry, contributing approximately PHP 536 billion to the national GDP in 2022, continues to be a significant driver of economic growth. Despite facing challenges such as higher inflation, interest rates, and geopolitical conflicts, it remains a strong investment target. Office vacancies rose to 20% in early 2024, with provincial markets experiencing a 28% vacancy rate, which has impacted the retail and residential sectors. However, trends like mixed-use developments, sustainability, green buildings, and technology integration are expected to boost the residential market to US$5.29 trillion by 2024, growing annually at 2.06%. The hospitality sector is also on the mend, with more events and new hotel completions anticipated in 2024. With the World Bank forecasting a 5.8% GDP growth for the Philippines, the real estate market is poised for continued development and recovery.

Join the British Chamber of Commerce Philippines for the 8th run of our Property Matters event with the theme “Transforming Philippine Cities: The Intersection of Infrastructure, Sustainability, and Investment” on 29 August 2024 at 6:00 PHT. This event will discuss the current real estate landscape, the impact of tourism on sustainability and green buildings, and the initiatives and opportunities for emerging cities in the industry.