Philippines Office Figures Q1 2026

Q1 2026 QUARTERLY HIGHLIGHTS 

- The Philippine office market saw 178,300 sq. m. worth of transactions at the start of the year, reflecting an 8% uptick q-o-q, though still trailing last year’s figures by 19%.

- Demand for this quarter was largely driven by traditional companies, albeit with smaller individual take-ups. On the other hand, IT-BPM sector continues to decline in terms of total demand and average transaction size.

- Transaction volume rose notably to 179 deals this quarter, though the average deal size slipped to 1,040 sq. m. 

- Metro Manila vacancy improved to 19.5% this quarter following the absence of significant new completions and low additions on newly vacated spaces.