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Philippine MarketBeat Reports

Claro Cordero Jr. • 13/11/2023
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

OfficeOverall Grade ‘A’ and Prime office vacancy in Metro Manila remains steady at 16.83% by end-Q3 2023, a 6-bps decline QoQ from the reported vacancy of 16.90% in Q2 2023 and a 72-bps increase YoY from the reported 16.12% vacancy in Q3 2022. The return of office space by several occupiers is still prevalent in several submarkets in Metro Manila. Nonetheless, positive absorption figures are recorded overall with roughly 38,000 sqm net absorption in Q3 2023, bringing the YTD net absorption to roughly 0.13 million sq.m. The positive absorption figures are brought on by several occupiers that have relocated or consolidated their office spaces in one location to take advantage of the prevailing high vacancies.

Investment: Estimated average office (gross) rental yields in Q3 2023 remained unchanged from its Q2 2023 level at 6.90%. Year-on-year (YoY), however, the rental yields increased by about 70 bps from its level in Q3 2022. C&W Research estimates rental yields to remain unchanged in the short-term, even as the Bangko Sentral ng Pilipinas (BSP) decided to take off-cycle hike in the target reverse repurchase rate in October 2023 to further address inflation concerns.

Learn more by clicking our most recent Philippine MarketBeat reports below.


Office Buildings CBD

Office MarketBeat Report

The Philippine Gross Domestic Product (GDP) beats forecast after it grew by 5.9% in Q3 2023, an improvement from a growth of 4.3% in Q2 2023, whilst below the 7.7% growth in the same quarter last year.
Claro Cordero Jr. • 13/11/2023
Warehouse Internal Rack

Investment MarketBeat Report

Estimated average office (gross) rental yields in Q3 2023 remained unchanged from its Q2 2023 level at 6.90%.
Claro Cordero Jr. • 13/11/2023


How Global Brands Are Shaping the Metro Manila Retailer Landscape 2021

How Global Brands Are Shaping the Metro Manila Retailer Landscape 2021

The COVID-19 crisis has upended businesses globally, but it has been especially tough in the retail segment as the implementation of various containment measures restricts activities in the industry.
Claro Cordero Jr. • 28/01/2022
COVID-19 Real Estate Developer Sentiment Survey Second Edition
Research • Investment / Capital Markets

COVID-19 Real Estate Developer Sentiment Survey Second Edition

The COVID-19 Real Estate Developer Sentiment Survey Second Edition seeks to gauge the changes in the real estate developers’ viewpoint on the recovery prospects of the economy and the real estate sector as uncertainties remain, more than a year after the onset of COVID-19 pandemic in the Philippines when the first issue of the survey was released.
Claro Cordero Jr. • 20/08/2021
Philippine Industrial Market Spotlight

Philippine Industrial Market Spotlight

As the battle with the effects of pandemic-induced global uncertainties continues, we examine the performance and prospects of growth that are presented to the Philippines’ industrial segment.
Claro Cordero Jr. • 27/01/2021
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