Philippines Office Figures Q2 2026

Q2 2026 QUARTERLY HIGHLIGHTS

- Headline demand in the Philippine office market for the 2nd quarter saw 161,160 sq. m. worth of transactions. However, excluding pre-leasing transactions and take-up by developers within their own buildings, real demand was only 111,100 sq. m. This has been the thinnest quarter in 5 years. 

- Although the IT-BPM sector drove the demand in terms of size, traditional companies continue to drive this quarter’s demand in terms of count which resulted to even lower average transaction size this quarter.

- This quarter saw the steepest one-quarter drop on transaction count. Transaction count dropped to 35% to 116 transactions for the quarter.

- Vacancy in Metro Manila slightly improves despite worsening demand due to completions drying up as developers hold off projects.