Philippine developers turn defensive as Middle East crisis threatens residential and retail market
The beleaguered market could worsen on lagged effects, but analysts remain upbeat on property giants’ strategies
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[SINGAPORE] Some of Metro Manila’s property giants have turned defensive as higher construction costs, rising interest rates and weakening purchasing power from the Middle East crisis dampen an already unstable market.
Key residential and retail segments in the Philippines’ capital area have struggled to shake off a post-pandemic slump, as the industry grapples with weak demand and soaring oversupply amid the country’s escalating economic woes.
Residential condominium sales in the country’s largest and most populated metropolitan area are already on pace to reach record low take-up rates in the first quarter of 2026, according to data from Colliers Philippines.
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