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Philippine MarketBeat Reports

Claro Cordero Jr. • 04/11/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: By the end of Q3 2024, the overall vacancy rates for Prime and Grade ‘A’ Office developments in Metro Manila rose by 280 basis points (bps) quarter-on-quarter and by 136 bps compared to the previous year. The average vacancy rate reached 18.2%, the highest level estimated by Cushman & Wakefield Research since Q2 2004, marking an increase of over 1,380 bps since Q2 2020.

Investment: Estimated average office (gross) rental yields in Q3 2024 increased to 6.92% from its Q2 2024 level at 6.90%. Year-on-year (yoy), rental yields increased by 2 bps from their level in Q3 2023. As the Monetary Board is expected to implement further reduction in the Bangko Sentral ng Pilipinas’ (BSP) policy rates before the end of 2024, C&W Research estimates gross rental yields for the Manila market to continue its upward movement in the near term.

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

CURRENT MARKETBEATS

Office Buildings CBD
MarketBeat

Office MarketBeat Report

By the end of Q3 2024, the overall vacancy rates for Prime and Grade ‘A’ Office developments in Metro Manila rose by 280 basis points (bps) quarter-on-quarter and by 136 bps compared to the previous year.
Claro Cordero Jr. • 04/11/2024
Warehouse Internal Rack
MarketBeat

Investment MarketBeat Report

Estimated average office (gross) rental yields in Q3 2024 increased to 6.92% from its Q2 2024 level at 6.90%.
Claro Cordero Jr. • 04/11/2024

Author

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