Philippine MarketBeat | PH | Cushman & Wakefield

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• 04/11/2024</h5> </div> <div> <div class="page-summary rich-text"> Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels. </div> <div class="page-content-body rich-text"> <p><span><strong>Office</strong>: 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.</span></p> <p><span><strong> <span>Investment: </span></strong><span dir="ltr" class="ui-provider vn b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak" style="color: #595959;">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.</span></span></p> <p><span><span style="color: #58595b;"></span><span style="font-size: 1rem;">Learn more by clicking our most recent Philippine MarketBeat reports below.</span><span style="color: #58595b;"><br /> </span></span></p> </div> </div> <section class="container mb-5"> <h2 class='container-headline mix_align-center'>CURRENT MARKETBEATS</h2> <div class="row"> <div class="col-lg-6"> <div class="card"> <a href="/en/philippines/insights/philippine-marketbeat/office-marketbeat-report"> <div class="insight-triangle"> <img class="card-img-top image-resizing h-auto" alt="Office Buildings CBD" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/common/card-images/marketbeats/apac_marketbeat_office_card.png?rev=47df0e8642344dfbba5c87b23e3f09ca" width="564" height="343" onerror="this.style.overflow='visible'"/> </div> </a> <div class="card-insight-body card-body-line-after"> <h6 class="card-subtitle-alt font-weight-bold">MarketBeat</h6> <p class="font-weight-bold"><a href="/en/philippines/insights/philippine-marketbeat/office-marketbeat-report">Office MarketBeat Report</a></p> <div class="card-text"> <div class="rich-text">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.</div> <span class="article-foot"><a href="/en/philippines/people/claro-cordero">Claro Cordero Jr.</a> • 04/11/2024</span> </div> </div> </div> </div> <div class="col-lg-6"> <div class="card"> <a href="/en/philippines/insights/philippine-marketbeat/investment-marketbeat-report"> <div class="insight-triangle"> <img class="card-img-top image-resizing h-auto" alt="Warehouse Internal Rack" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/common/card-images/marketbeats/apac_marketbeat_investment_card.png?rev=305127153d6e486caf59ad69e4c99478" width="564" height="343" onerror="this.style.overflow='visible'"/> </div> </a> <div class="card-insight-body card-body-line-after"> <h6 class="card-subtitle-alt font-weight-bold">MarketBeat</h6> <p class="font-weight-bold"><a href="/en/philippines/insights/philippine-marketbeat/investment-marketbeat-report">Investment MarketBeat Report</a></p> <div class="card-text"> <div class="rich-text"><span>Estimated average office (gross) rental yields in Q3 2024 increased to 6.92% from its Q2 2024 level at 6.90%.</span></div> <span class="article-foot"><a href="/en/philippines/people/claro-cordero">Claro Cordero Jr.</a> • 04/11/2024</span> </div> </div> </div> </div> </div> </section> </section> </div> <div class="col-lg-4" style=""> <section style=""> <div class="sidebar"> <div class="sidebar-body"> <h4 class="text-uppercase">Author</h4> <hr> <ul class="list-unstyled"> <li class="mt-3"> <a class="font-weight-bold" href="/en/philippines/people/claro-cordero">Claro Cordero Jr.</a> <br>Head – Research, Consulting & Advisory Services </li> </ul> </div> </div> </section> </div> </div> </div> <div class="container"> <div class="row"> <div class="col-lg-6" style=""> <section style=""> <div class="sidebar mix_transparent"> <div class="sidebar-body"> <h4 class="text-uppercase">Download Previous Philippine Office MarketBeat Reports</h4> <div class="rich-text">Click on title to begin download:</div> <ul class="font-weight-bold list-decorated list-unstyled"> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q2/apac-and-gc/philippines--manila--investment-q2-2024-v2.pdf?rev=b062b1f1ce604ca9beb0564151afe355" target="" title=""><i class="far fa-file-pdf"></i> Manila Office MarketBeat Q2 2024</a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q1/apac-and-gc/philippines--manila--office-q1-2024_.pdf?rev=76bfebbeec444f4bbe3f8fce870d63eb" target="" title=""><i class="far fa-file-pdf"></i> Manila Office MarketBeat Q1 2024</a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2023/q4/apac-and-gc/philippines--manila--office-q4-2023.pdf?rev=8e486b6540d34a76961f2aebe00088a0" target="" title=""><i class="far fa-file-pdf"></i> Manila Office MarketBeat Q4 2023 </a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2023/q3/apac-and-gc/philippines-manila-office-q3-2023.pdf?rev=51f7433b279043c08fbc01d13d5dea07" target="" title=""><i class="far fa-file-pdf"></i> Manila Office MarketBeat Q3 2023</a></li> </ul> </div> </div> </section> <section style=""> </section> </div> <div class="col-lg-6" style=""> <section style=""> <div class="sidebar mix_transparent"> <div class="sidebar-body"> <h4 class="text-uppercase">Download Previous Philippine Investment MarketBeat Reports</h4> <div class="rich-text">Click on title to begin download:</div> <ul class="font-weight-bold list-decorated list-unstyled"> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q2/apac-and-gc/philippines--manila--investment-q2-2024-v2.pdf?rev=b062b1f1ce604ca9beb0564151afe355" target="" title=""><i class="far fa-file-pdf"></i> Manila Investment MarketBeat Q2 2024</a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q1/apac-and-gc/philippines--manila--investment-q1-2024_.pdf?rev=8e80c4caf2ff4061a993e16d3b7b8f10" target="" title=""><i class="far fa-file-pdf"></i> Manila Investment MarketBeat Q1 2024</a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2023/q4/apac-and-gc/philippines--manila--investment-q4-2023.pdf?rev=60ab1eb71b3f4d1fb37005b461aa195e" target="" title=""><i class="far fa-file-pdf"></i> Manila Investment MarketBeat Q4 2023</a></li> <li><a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2023/q3/apac-and-gc/philippines-manila-investment-q3-2023.pdf?rev=edf46c6d1db54b1d8ef2aec880a18d4f" target="" title=""><i class="far fa-file-pdf"></i> Manila Investment MarketBeat Q3 2023</a></li> </ul> </div> </div> </section> <section style=""> </section> </div> </div> </div> <section class="container" style="" > <section class="container mb-5"> <h2 class='container-headline mix_align-center'>MORE INSIGHTS</h2> <div class="row"> <div class="col-lg-4"> <div class="card"> <a href="/en/india/insights/india-office-market-report"> <div class="insight-triangle"> <img class="card-img-top image-resizing h-auto" alt="Pan-India-Web_Card-Image.jpg" src="https://cwg-p-001.sitecorecontenthub.cloud/api/public/content/b30f847be691465e879dd01d3e9c286e?v=7bac6b23" width="564" height="343" onerror="this.style.overflow='visible'"/> </div> </a> <div class="card-insight-body card-body-line-after"> <h6 class="card-subtitle-alt font-weight-bold">Research • Workplace</h6> <p class="font-weight-bold"><a href="/en/india/insights/india-office-market-report">India Office Market Report</a></p> <div class="card-text"> <div class="rich-text"><span style="line-height: 107%;">The office market maintained strong momentum in Q4, and 2024 finished with record high leasing volumes and net absorption, surpassing last year as well as the pre-Covid highs.</span></div> <span class="article-foot">17/02/2025</span> </div> </div> </div> </div> <div class="col-lg-4"> <div class="card"> <a href="/en/philippines/insights/philippine-marketbeat"> <div class="insight-triangle"> <img class="card-img-top image-resizing h-auto" alt="APAC Marketbeat" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/marketbeats/storycard_philippines.jpg?rev=540891979fbe45eb9ce2f08937678b61" width="564" height="343" onerror="this.style.overflow='visible'"/> </div> </a> <div class="card-insight-body card-body-line-after"> <h6 class="card-subtitle-alt font-weight-bold">MarketBeat</h6> <p class="font-weight-bold"><a href="/en/philippines/insights/philippine-marketbeat">Philippine MarketBeat</a></p> <div class="card-text"> <div class="rich-text">Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.</div> <span class="article-foot"><a href="/en/philippines/people/claro-cordero">Claro Cordero Jr.</a> • 04/11/2024</span> </div> </div> </div> </div> <div class="col-lg-4"> <div class="card"> <a href="/en/philippines/insights/philippine-property-market-news"> <div class="insight-triangle"> <img 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