Philippine Property Market: Home Price Growth Hits Record Low, Developers Push Back on Land Tax Reform
BSP data shows regional slowdown as industry leaders lobby for delay on valuation overhaul
Written by PropVela Editorial TeamPublished 2 min read
Fresh data from the central bank and follow-up reporting this week paint a picture of a cooling residential market outside the capital, even as developers make a fresh push to soften an incoming tax overhaul. Here's what's making news in Philippine real estate today.
Philippine home prices post slowest ever growth in Q2 2026— BSP
Residential property prices nationwide grew just 0.4% year-on-year in the second quarter, a sharp deceleration from 4.5% in the first quarter and 7.5% a year earlier, according to the Bangko Sentral ng Pilipinas' Residential Property Price Index. The slowdown was driven by weakening prices outside Metro Manila, even as loan growth in the National Capital Region stayed firm. Houses accounted for the majority of residential real estate loans in the quarter at 54.7%, versus 45.3% for condominium units. According to BusinessWorld, the divergence reflects contracting loan activity in provincial markets against continued resilience in the capital.
Philippines home prices post slowest growth in 7 years
A follow-up report confirms the residential price index posted its weakest annual gain since the BSP's current data series began in 2019, with softness outside Metro Manila dragging down the national average. Growth in the capital held up comparatively well, keeping the overall figure from turning negative. The findings echo the central bank's own release and add to concerns that regional housing markets are cooling faster than the capital. According to Philstar.com, the report reinforces worries about a widening gap between Metro Manila and the rest of the country.
Philippine property giants seek four-year delay on land tax overhaul
Industry leaders are asking President Marcos to postpone sweeping land valuation reforms until 2031, arguing that higher property levies could ripple through the economy and add to the cost burden on consumers already facing inflation pressures. During a September 22 meeting at Malacañang, the infrastructure group of the Private Sector Advisory Council, represented by Robinsons Land Corp., submitted a three-point proposal aimed at giving owners and developers more time to adjust to updated assessments. The request reflects broader industry unease over how quickly new valuations could be rolled out. According to Manila Bulletin, the proposal seeks relief measures rather than an outright cancellation of the reform.