Philippine property prices rebound in Q1 2026

Residential property prices in the Philippines accelerated in the first quarter of 2026 as both Metro Manila and areas outside the capital region posted quarterly gains, according to a Bangko Sentral ng Pilipinas press release dated June 26, 2026.

The BSP said the Residential Property Price Index rose 5.6 percent from the previous quarter in Q1 2026, reversing contractions of 3.8 percent in Q3 2025 and 1.3 percent in Q4 2025.

The rebound was broad-based, with the National Capital Region rising 10.4 percent quarter on quarter after three straight quarters of decline.

NCR property prices had fallen 3.6 percent in Q2 2025, 0.8 percent in Q3 2025, and 2.0 percent in Q4 2025 before rebounding in Q1 2026.

Areas outside the National Capital Region, or AONCR, also posted a 2.5 percent quarterly gain in Q1 2026, following declines of 5.9 percent in Q3 2025 and 0.7 percent in Q4 2025.

AONCR had earlier recorded a stronger 10.5 percent quarter-on-quarter increase in Q2 2025.

On an annual basis, nationwide property prices grew 4.5 percent in Q1 2026, slower than the 7.6 percent growth recorded in Q1 2025.

NCR prices rose 3.5 percent year on year in Q1 2026, easing from 13.9 percent in Q1 2025.

AONCR prices increased 5.7 percent year on year in Q1 2026, faster than the 3.0 percent growth posted in Q1 2025.

The BSP said price growth recovered across both houses and condominium units, signaling renewed momentum in the residential property market.

The overall increase in nationwide property prices was driven mainly by condominium units, while house prices posted more modest gains.

The RPPI measures the average change in prices of different types of housing units over time, using data on actual housing loans from banks.

The BSP monitors the index as one of its key indicators for assessing real estate and credit market conditions.

Despite rising property prices, residential real estate loans contracted on a quarterly basis across all areas and housing types.

The BSP said the decline reflected continued consumer pessimism toward property purchases and tighter bank credit standards, which weighed on loan demand.

The divergence between rising prices and weaker loan activity suggests that demand conditions remain uneven, with property values gaining momentum even as borrowers face tighter financing conditions.

The report indicates that the residential property market entered 2026 with renewed price pressure, led by Metro Manila’s rebound and sustained gains in several metro areas outside the capital region.