Philippine Property Market: Peso Slump, Soft Pre-Sales, and Megaworld's Mall Push
Currency weakness, cautious housing demand, and retail expansion headline today's property news
Written by PropVela Editorial TeamPublished 2 min read
Currency pressure, cautious homebuyers, and bullish retail expansion plans dominate today's property-related headlines. Here's a quick rundown of what's moving the market.
Peso Weakens to Fresh Record Low
The Philippine peso slid to an intraday low of 63.23 against the US dollar before settling at 62.985, as traders priced in a likely Federal Reserve rate hike this month. Despite the BSP already raising its own policy rate to 5% in August, borrowing costs for property buyers and developers remain elevated, and the currency's weakness has persisted regardless. Markets are now bracing for two pivotal dates — the BSP's October 22 meeting and the Fed's October 27-28 decision — for clues on where rates head next. According to the Philippine Daily Inquirer, the peso's slide underscores how global monetary policy continues to ripple through local financing costs.
Housing Demand Holds Steady, But Pre-Sales Dip
Leechiu Property Consultants data shows underlying demand for homes stayed firm through the first half of 2026, even as developers adjust strategies to move excess inventory and price new launches within buyers' reach. Still, combined residential pre-sales from Ayala Land, SM Prime, Robinsons Land, and Megaworld fell 7% over the same period, pointing to the growing weight of pricing and targeted offers in driving sales. An S&P Global Ratings analyst quoted in the report suggested a real market recovery may not materialize until late 2027, given oversupply and still-high borrowing costs. Full details are available via Philstar.com.
Megaworld Eyes 1 Million Sqm of Mall Space by 2030
Megaworld is ramping up its retail footprint, aiming for 1 million square meters of gross leasable mall area within the next four years. New lifestyle malls are slated to break ground in Cavite, Rizal, Pampanga, and Bacolod City between 2026 and 2027, adding to the 27 malls it already runs nationwide. Newly installed Megaworld Lifestyle Malls head Javier Hernandez noted a shift in shopper behavior — fewer visits, but longer stays per trip — as rising fuel and parking costs reshape habits. Read more from Manila Times.