Residential property prices in the Philippines continued to rise in the third quarter of 2025, but at a noticeably slower pace, reflecting a cooling market after earlier gains in the year. Data from the Bangko Sentral ng Pilipinas show that the Residential Property Price Index (RPPI) increased by 1.9 percent year on year in Q3 2025, sharply moderating from the 7.5 percent growth recorded in the previous quarter.
The slowdown was evident across regions, although the National Capital Region remained the main driver of price increases. Residential property prices in Metro Manila grew by 2.3 percent year on year during the period, outpacing areas outside the capital. In contrast, prices in regions outside the NCR posted a more modest 1.6 percent increase, underscoring a broader softening in demand beyond the country’s primary urban center.
Price movements also varied by housing type. Houses—including single-attached or detached units, apartments, townhouses, and duplexes—registered a 1.9 percent year-on-year increase in Q3, a significant deceleration from the double-digit 13.1 percent growth seen in the previous quarter.
Condominium units showed a mild recovery, rebounding to a 1.4 percent increase after contracting by 0.2 percent in Q2, suggesting tentative stabilization in the condo segment following earlier price pressures.
The RPPI tracks the average change in prices of various residential property types over time, based on banks’ data on actual housing loans rather than advertised prices. As such, it offers a grounded view of market conditions, reflecting transactions that have already passed through the credit system.
The central bank closely monitors the index as one of its key indicators for assessing developments in the real estate sector and broader credit market conditions.
The latest figures point to a market that remains on a growth path, but one that is adjusting to tighter financial conditions and more cautious buyer sentiment, signaling a more measured phase for the Philippine residential property sector going into the latter part of the year.