2Q2021 IN NUMBERS

Most Viewed Cities

2Q2021 in Numbers LUZON

OUTSIDE METRO MANILA
METRO MANILA
Quezon City | Makati
Antipolo | Baguio | Tagaytay Taguig | Pasig | Parañaque
Angeles | Santa Rosa

VISAYAS MINDANAO
Cebu City | Lapu-Lapu Davao | Cagayan de Oro
Mandaue | Talisay | Iloilo Samal Island | General Luna

• In Metro Manila, the top viewed cities were mostly central business districts.
• The most viewed cities in Luzon (outside Metro Manila only) were regional hubs (Baguio,
Angeles) and cities close to the fringes of the metro.
• Cities in the highly urbanized Cebu attracted the most views in Visayas in 2Q2021.
• Davao City and Cagayan de Oro continue to be the most searched cities in Mindanao, along
with the vacation spots Samal Island and General Luna.

Top Overseas Property Seekers

EUROPE SOUTHEAST ASIA
Property Type Breakdown London | Hamburg Singapore | Kuala Lumpur
Copenhagen | Zurich Dededo (Guam) | Bangkok
Houses continued to be the most searched property type from 2Q2020 to 2Q2021.
Dublin Petaling Jaya
Land
House NORTH AMERICA MIDDLE EAST
Condominium Toronto | Los Angeles Dubai | Doha | Riyadh
Commercial New York | Las Vegas | Calgary Abu Dhabi | Ras Al-Khaimah (UAE)
Apartment
From 2Q2020 to 2Q2021, the leading overseas sources of pageviews in Southeast Asia
2Q2020 3Q2020 4Q2020 1Q2021 2Q2021 remained consistent, with Singapore and Kuala Lumpur taking the lead. In North America, the top
seekers have fluctuated between Los Angeles and Toronto in the same period. London and
Houses attracted the largest share of leads out of all other property types throughout the year, Copenhagen were consistently part of the top five property seekers from Europe from 2Q2020
and had also sustained the highest quarter-on-quarter growth in the first half of 2021. Meanwhile, to 2Q2021, while Dubai, Doha and Riyadh continued to be the three largest sources of pageviews
land had the highest year-on-year increase in leads. from the Middle East.

02 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 03
 2Q2021 IN NUMBERS 2Q2021 IN NUMBERS

Listings for Sale by Price Segment Buy vs. Rent Distribution, 2Q2020 - 2Q2021
The lead share for properties for sale increased throughout 2020.
Properties for sale by price segment varied across regions in 2Q2021.

• Expensive listings tend to

be more common in Metro Buy
Metro Manila
Manila. Rent
• Properties for sale in Luzon
Luzon (outside Metro Manila) and
Visayas were more evenly 2Q2020 3Q2020 4Q2020 1Q2021 2Q2021
spread across price ranges
Visayas compared to other regions.
• Mindanao properties for
Property Seeker Demographics in 1H2021
Mindanao sale on Lamudi were most
concentrated in the Majority of Lamudi users searched for properties with • As of December 2020, mobile
economic housing market. their mobile devices in the first half of 2021. phones contributed the largest
share of local web traffic on
Economic Low-cost Upscale Luxury
0 to Php 3M Php 3M to 6M Php 6M to 12M Php 12M & up Lamudi out of all devices.
• Emerging property technology
meets the demand for
convenient transactions,
Listings for Rent by Price Segment enabling buyers and tenants to
easily manage their payments
Rent listings in the country averaged between 15K to 60K in 2Q2021. via smartphone.
• The ongoing roll-out of 5G in
Metro Manila • Out of the observed Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 the Philippines in 2021 is seen
areas, Luzon had the to further support the growth of
largest share of rental Mobile Desktop
mCommerce in the country.
Luzon properties belonging to
the luxury segment. Majority of property seekers in 2Q2021 were between the ages of 18 to 44.
• Properties for rent in
Visayas Visayas and Mindano on
Lamudi were most
Mindanao concentrated in the
mid-cost pricing segment.

Low-cost Mid-cost High-end Luxury

0 to Php 15,000 Php 15,000 to 60,000 Php 60,000 to 200,000 Php 200,000 & up Metro Manila Luzon Visayas Mindanao
18-24 25-34 35-44 45-54 55-64 65+

04 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 05

Quarterly Real Estate
News Roundup
Stay up to date on the most exciting project launches, infrastructure developments, and general
real estate news that happened this quarter. Here are the highlights:
INDUSTRY DEVELOPMENTS
POGO Return to Benefit PH Real Estate
After a pandemic-induced mass exodus in
2020, Philippine offshore gaming operators or
POGOs are slowly returning to the country,
according to Leechiu Property Consultants.
The real estate consultancy company
reported a surge in inquiries from POGOs for
potential office space rentals towards the end
of the year. Having contributed estimated
yearly rental revenues of Php 47 billion for
both offices and housing, their return is seen
to significantly aid the local real estate market.
06 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021
Cold Storage Rises as Property Investment
Sector
The recent influx of demand in food, vaccines,
and other imported goods has spurred
heightened activity in the cold chain logistics
and storage industry. With dynamic growth in
the space anticipated to continue, cold
storage is positioned to emerge as one of the
next popular investment sectors in Philippine
real estate.
Iloilo Takes Up Most BPO Space
Iloilo surpassed major business districts in
Metro Manila and Cebu when it absorbed
48,000 square meters of business process
QUARTERLY REAL ESTATE NEWS ROUNDUP
outsourcing (BPO) space last year, according
to Leechiu Property Consultants. The
development is attributed to increased
business expansion to cities outside the
capital region, with Iloilo, Cebu, Cagayan de
Oro and Davao identified as growth areas.
PH Opens New Rental Markets Amid
Pandemic
Lamudi’s rental market trend report revealed
three key changes in property seeker
behavior influencing their online real estate
search. The prioritization of health and safety,
growing openness to remote work culture,
and need for mobility have driven property
seekers towards on-site housing, 'workcation'
rentals and transit-oriented developments. To
help address seekers' new preferences,
Lamudi introduced an unlimited rental listings
offer in August.
INFRASTRUCTURE UPDATES
Cebu Residential Prices to Remain Stable
Amid Pandemic
Prices for residential properties in Cebu are to
remain stable in 2021, according to forecasts
by Colliers International. Colliers reports that
any price increases this year will be minimal,
and is sensitive to how optimistic the market is.
The current economic and public health
conditions are said to continue influencing
developer decisions, sustaining the popularity
of buyer-focused promotional strategies such
as discounts and extended payment terms.
THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021
BSP to Launch Commercial Property Price
Index
The Bangko Sentral ng Pilipinas (BSP) plans to
roll out a commercial property price index
(CPPI) by year-end as part of their efforts to
monitor bank exposure to price trends in the
property sector. The CPPI will supplement its
Residential Real Estate Price Index (RREPI).
Before its launch in 2016, little information
regarding the financial exposure of banks in
the real estate sector was available.
Luxury Projects as a Resilient Investment
During a Lamudi webinar titled “Joint Venture
Projects and What Makes Them Lucrative to
Investors”, Colliers Associate Director Joey
Bondoc emphasized the historically stable
demand for luxury properties during
economic downturns. This is aligned with the
strong appeal of upscale amenities and
international design standards associated with
new joint venture real estate developments in
the country.
Strong VisMin Affordable Housing Market
In the first half of 2021, Cebu Landmasters Inc.
(CLI) pulled in record-breaking sales with a 14%
annual increase to Php 8.5 billion, 71% of which
is attributed to the mid-market and economic
sectors. With the housing backlog in Visayas
and Mindanao amounting to around 200,000,
developers such as CLI are working to close
the gap and deliver more affordable housing
units to Filipinos.
| 07
 QUARTERLY REAL ESTATE NEWS ROUNDUP
REITs
Megaworld Set to Launch PH’s
Biggest REIT IPO Offering
Property giant Megaworld is planning a
Php 27.3 billion REIT offering later this year -
the largest real estate investment trust in the
Philippines to date. The proceeds from the
offering will be invested in a portfolio
spanning hotel, retail and office building
assets across the Philippines. Megaworld’s
REIT (MREIT) includes properties in its premier
township developments of Eastwood City,
McKinley Hill and Iloilo Business Park.
RLC Residences to Enter
REIT Market
Robinsons Land Corp. entered the country’s
growing REIT space earlier this year with the
submission of its REIT registration statement
to the Securities and Exchange Council last
May 17. The RLC REIT is set to offer 3.3 billion
secondary shares and a portfolio covering
over 400,000 square meters of commercial
real estate assets. The REIT included 14
PEZA-accredited properties such as
Robinsons Summit Center in Makati City and
Robinsons Cybergate Center 2 and 3 in
Mandaluyong City.
DDMP REIT Kicks Off Year
With Higher Profit
According to a regulatory filing last May,
DoubleDragon Properties Corp. DDMP REIT
earned an 11.7% year-on-year profit growth in
the first quarter of 2021. DDMP REIT made its
market debut in March 2021, amid a
resurgence of coronavirus cases and
changes in quarantine restrictions. The
company’s portfolio is composed of
08 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021
commercial assets located in DD Meridian
Park in the Bay Area of Metro Manila.
Country’s First Industrial REIT to Launch
A billion-peso deal between Jollibee Foods
Corporation and DoubleDragon Properties
is laying the foundations for the Philippines’
first ever industrial REIT. Last July, the
multinational food company and the prime
property player inked a deal slated to make
the latter’s industrial leasing unit,
CentralHub, the country’s largest landlord of
industrial warehouses. Jollibee is including
16.4 hectares of its commissary properties to
the deal, investing around Php 2 billion
worth of its land assets.
REGULATORY
DEVELOPMENTS IN THE
PROPERTY INDUSTRY
Pag-Ibig Records 33% Increase in Home
Loans
Strong property demand in the first quarter
of 2021 drove an increase in home loans
issued by the Home Development Mutual
Fund (Pag-IBIG Fund) during that period. The
total number of loan releases in 1Q2021 is
33% higher than the same period in 2020,
and 22% higher than in 2019. With around
25% of borrowers belonging to the minimum
wage and low-income earning groups, the
figures are a notable feat in the agency’s
goals to secure decent shelter for every
Filipino - especially amid the pandemic.
Property Documents Retrieval Process
Made Easier
Last April, the Department of Human
Settlements and Urban Development
(DHSUD) introduced Housing One-Stop
QUARTERLY REAL ESTATE NEWS ROUNDUP
Processing Centers (HOPCs) to their regional
offices - a big step in efforts to enforce more
efficient housing-related administrative
transactions.
New Task Force to Govern Property Tax
Reforms
Last April, an administrative order forming an
Interagency Governing Board (IGB) to
supervise reforms in local government units,
particularly in real property tax collection and
management, was issued. The agency will be
chaired by the Department of Finance, and
people’s well-being during the pandemic.
will be dissolved in July 2024 unless
extended by the President.
New Housing Roadmap Calls for Greener,
Smarter Homes
Lawmakers Review Property Design Laws
The multi-agency National Human
Lawmakers are re-examining legislative
Settlements Board approved the 20-year
measures governing architecture, interior
roadmap presented by the Department of
design, and the design profession after the
Human Settlements and Urban Development
House Special Committee on Creative
(DHSUD) last May. Banner projects under the
Industry and Performing Arts launched an
roadmap feature both ongoing and planned
inquiry related to addressing their needs amid
programmes that aim to “create spaces,
the pandemic. In line with this, the committee
transform spaces into communities, make
raised the need to revisit other related
communities accessible and affordable, and
property laws such as the National Building
empower communities.”
Code, the Government Procurement Reform
Act, and the Natural Cultural Heritage Act.
Building Owners Urged to Use Renewable
Energy
SUSTAINABLE CITY LIVING At least one percent of a building’s total
power demand must now be generated from
Filipinos Push for Conversion of Streets
a renewable energy source. In a virtual
into Pedestrian-Friendly Spaces
briefing held last June, Leechiu Property
The majority of Filipinos want pedestrian
Consultants discussed the sustainable
lanes, bicycles and public transportation to be
measures stipulated in the Republic Act 11285
prioritized over private vehicles, according to
or the Energy Efficiency and Conservation
a survey conducted by Social Weather
Law. In addition to the law’s environmental
Stations last November 2020. Local
benefits, building owners compliant with the
sustainable mobility advocates say that
legislation can expect to save on energy
converting a few streets into pedestrian-
costs and reduce operating expenses.
friendly open spaces can help improve
THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 09
 PROJECT IN FOCUS: THE IMPACT OF THE MEGA MANILA SUBWAY PROJECT ON REAL ESTATE

PROJECT IN FOCUS

THE IMPACT OF THE Demand for listings in areas where stations of the Mega Manila Subway project are to be built

Mega Manila Subway

showed an uptick in year-on-year pageviews. In Project 3 (Quezon City), Western Bicutan, and West
Rembo in particular, pageviews for available listings on Lamudi showed tremendous growth -
attracting a triple-digit increase in pageviews from 2Q2020 to 2Q2021. These areas were all strong

Project on Real Estate

rental markets, with over 70% of leads for listings within the city in 2Q2021 going to properties for
rent. It is also worth noting that these barangays are already key areas with access to public
transport. Living in Project 3 would give residents access to both Katipunan LRT and Aurora
Boulevard - a major road leading to the commercial district of Araneta City. Meanwhile, Western
by Ady Chiongbian
Bicutan and West Rembo flex relatively lower prices relative to their neighboring central business
districts and also have easy access to bus routes and rail lines.
Lamudi sums up everything you need to know about the mass transit project slated to transform
the urban commuter experience in the metro. Many luxury properties are centrally located in areas with access to transport.
One of the most highly anticipated infrastructure With new transport infrastructure usually comes In 2Q2021, properties for sale in areas where the subway stations are to be built command higher
projects in the pipeline is the Mega Manila more commercial and residential opportunities prices.
Subway Project. Slated to be the country’s first in real estate. Whether it be a tie-up with a
underground rail, the mass transit project will private developer for a transit-oriented
operate 17 stations across 35 kilometers from development or putting up malls and dining Western Bicutan
Valenzuela to Paranaque. With an operating options nearby, mass transport infrastructure
speed of 80 kph, the subway system is spurs more business activity and supports West Rembo
expected to reduce travel time from Quezon vibrant city living in the area. To see how these Villamor Air Base
City to Taguig from 1.5 hours to only 30 minutes, markets have performed during the pandemic,
aiming to ease road congestion, improve Lamudi assesses the areas where the subway Ugong
accessibility, and possibly trigger an increase in stations are to be constructed. Tandang Sora
land values in adjacent properties.
Project 3 San Antonio
Demand is increasing Project 3
Western Bicutan
for majority of the areas
with existing access to West Rembo Ortigas (Ave & CBD)
rail and bus routes. Villamor Air Base
Novaliches
Ugong
Demand for listings in Katipunan
Project 3 (Quezon Tandang Sora
City), Western Bicutan San Antonio Fort Bonifacio
and West Rembo Ortigas Diliman
skyrocketed from Novaliches
2Q2020 to 2Q2021. Bicutan
Katipunan
Fort Bonifacio
Economic Low-cost Upscale Luxury
Diliman 0 to Php 3M Php 3M to 6M Php 6M to 12M Php 12M & up
2Q2020 2Q2021 Bicutan

10 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 11
 PROJECT IN FOCUS: THE IMPACT OF THE MEGA MANILA SUBWAY PROJECT ON REAL ESTATE
CLARK
M ABALACAT

PASAY

BORACAY
K ALIBO

LAPU-LAPU

DAVAO

Lamudi data for 2Q2021 revealed that in most of the assessed cities, available listings for sale
belonged to luxury price segments. West Rembo and Bicutan had the largest share of luxury
properties for sale, with listings concentrated in the 12M and up price range. Meanwhile, Ugong
Airport Cities in 2021 by Ady Chiongbian
(East Valenzuela), Novaliches, and Ortigas (Avenue and CBD) had higher shares of economic
listings compared to the other subway station areas assessed. As the project nears completion, With tourism and aviation bearing the brunt of the pandemic, Lamudi looks at the changes in
prices of properties and land in the area may increase. In the Asian Development Bank’s (ADB) aviation-centered developments and the industry’s outlook for the future.
book “Creating Livable Asian Cities” published in April 2021, studies by ADB’s economics showed
that land values in areas within a kilometer from MRT-3 train stations increased since its contract was The development of airports, terminals, routes Then, the pandemic hit. Leisure activities were
finalized in 1995. Average values for rental lots closer to the stations were estimated to have and runways have always been a key strategy shelved, and travel changed severely.
increased from Php 4,972 per sqm in 1995 to Php 16,036 per sqm in 2015. in promoting tourism growth in the Philippines.
With the tourism industry feeling the full force of
In late 2018, the Department of Tourism (DOT) the pandemic and consequent lockdowns, what
Singapore, Quezon City contributed the most demand for properties in these areas.
and Department of Transportation (DOTr) was to become of the airports and the cities
partnered to develop at least 85 airports in they supported?
Most property seekers from the Philippines looking into properties in the developing subway
order to accommodate more flights and tourists.
station areas were primarily from Quezon City, while Singapore contributed the most pageviews
That same year, the DOT facilitated the opening PASAY
from overseas. Nearly half of the planned subway stations will be developed in Quezon City.
of 40 new international air routes; in 2019, they Home to the Ninoy Aquino International Airport
Residents of the area will benefit from more alternative travel modes as well as linkages to existing
surpassed their goals of recording 8.2-million and its four terminals, the city of Pasay hosts 39
rail stations. Meanwhile, Singapore continues to be an important trade partner of the Philippines. In
foreign tourist arrivals. Tourism Secretary different airlines and thousands of passengers a
2019, Singapore was the Philippines’ top international investor and host to 4% of all overseas
Bernadette Romulo-Puyat attributed the day. Known as the country’s “Travel City”, Pasay
Filipino Workers.
milestone to these convergence programs with boasts 5-star hotels, office towers, event halls,
In the search for the next home or workplace, accessibility will continue to be a top priority. The other government agencies, as well as to casinos, theatres, and one of the largest malls in
Mega Manila Subway Project lays the groundwork for a more connected and dynamic metro. With initiatives with local governments and the the region. It’s an ideal place for business
demand for properties in the area continuing to rise and prices expected to as well, investors and private sector in a statement published by the travelers and those visiting the capital region for
developers may do well to consider maximizing current land values and pursuing available Inquirer early last year. With Boracay, Palawan a quick trip. Because of this, it’s not surprising
properties nearby and developing projects that complement the station. and Siargao winning prestigious international that Pasay is primarily a rental market. Lamudi
awards and the industry contributing 12.8% to data shows that over 60% of leads for listings in
Sources: Asian Development Bank, Philippine News Agency total GDP, local tourism was at its prime in 2019. the Travel City were for rentals. With exposure
12 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 13
 AIRPORT CITIES IN 2021
to luxurious spots, corporate towers and views
overlooking the nearby Manila Bay, listings in
Pasay belong to the high-end price segments.
The distribution of Pasay listings across price
ranges remained favorable to those looking at
high-end listings, with supply in the 6M - 9M and
20M and up segments increasing from 2Q2020
to 2Q2021. Supply for properties to rent
remained most concentrated in the 30K to 60K
segment. Demand for properties in Pasay
remained strong throughout the last year, with
pageviews for listings in the city increasing by
11% from 2Q2020 to 2Q2021.
L A PU -LAP U
The Mactan Cebu International Airport (MCIA) in
Cebu City has won several awards since its
renovation was completed in 2019. Its Terminal
2 - which receives international flights - won the
“Completed Buildings: Transport” category at
the 2019 World Architecture Festival, the
American Institute for Architects Hong Kong’s
Honor Award for Interior Architecture, and the
Architecture and Allied Arts category of the 12th
Ani ng Dangal Awards. It is the entryway for
local and international visitors to Cebu province
- the regional hub of Central Visayas, and a
strong information technology (IT) and business
process outsourcing (BPO) market.
With more office and residential developments
spreading to Lapu-lapu, listings were more
evenly spread across different price ranges in
2Q2021 and demand for houses, condos and
land in the city continued to increase from
2Q2020 to the same period a year later.
Lapu-lapu’s export processing zones employ
thousands of skilled workers in the
manufacturing of semiconductors, fashion
accessories, furniture, garments and more. Its
strategic location near the airport and fiscal
14 | THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021
incentives attract multinational companies
looking to outsource part of their supply chain
operations. The many expats in the area are
partly the reason behind the many East Asian
restaurants in the city. With the many new
developments in the city, commercial zonal
values in the resort town increased from Php
7,500 in 2009 to Php 12,000 in 2020.
B O RACAY ( K A L I B O )
Considered the country’s fastest growing
airport in terms of passenger traffic, Kalibo
International Airport (KIA) is the third largest
airport in the country in terms of airlines
supported. Since being featured in foreign films
in the ‘70s, Boracay has achieved international
fame and attracts hordes of visitors from across
the globe yearly. KIA accommodates chartered
and regular flights for thousands of travelers
internationally from China, South Korea, Taipei
as well as locally from Cebu and Manila. In 2017,
the island destination contributed 20% of the
total income generated by the tourism industry.
In spite of the travel bans, interest in properties
in Kalibo continued to grow throughout the
pandemic. From 2Q2020 to 2Q2021,
pageviews for Lamudi listings in Kalibo
increased by 23%. Primarily a buy market, leads
for commercial properties and houses showed
the most significant growth out of other property
types. Most belonged to the hyper-luxury or
20M and up market, while upscale listings
priced between 6M to 9M increased by 6
percentage points. Rehabilitation of KIA’s
passenger terminal building remained in the
government’s list of infrastructure flagship
projects in 2020, and was completed in
September last year. The improved gateway,
according to a release by the Philippine News
Agency, generated employment for at least 236
local construction workers and provides tourists
AIRPORT CITIES IN 2021
with better access to Boracay. goods to the Davao Region. The airport is
expected to undergo a makeover, with a
CLARK (M ABALACAT ) proposal for its modernization currently seeking
As the site of some of the most approval from relevant government bodies. The
project involves the expansion of the DIA’s
highly-anticipated projects in Central Luzon, the
terminal building, construction of a parallel
Clark Freeport and Special Economic Zone has
taxiway, as well as the installation of modern
injected more investments north of the Metro. In
airport IT systems.
January 2021, GMR-Megawide - the consortium
behind the successful construction of Cebu’s
MCIA Terminal 2 - turned over the new
With a thriving BPO market and abundant
investment opportunities in real estate, tourism,
passenger terminal building of the Clark
education and agri-business, growth prospects
International Airport. The project aims to not
in Davao City remain optimistic. With boutique
only spur commercial activity in Pampanga and
developers and bigger real estate companies
Central Luzon, but also decongest NAIA. The
expanding to Davao, housing supply in the city
airport is also poised to be a key access point in
the government’s growing transportation
was evenly spread across price ranges in
2Q2021, and the distribution of leads for
network across Luzon, as it will be connected to
properties to buy against those to rent were
New Clark City, Laguna and Manila via the
more evenly distributed compared to other
North-South Commuter Railway - making the
airport cities. More affordable properties in
station the country’s first direct express airport
Davao were made available in 2Q2021, with
link.
low-cost properties priced between 6M and 9M
Clark is witnessing the construction of some of growing by 12 percentage points year-on-year.
the most innovative urban developments in the
Airports and the cities that host them continue
country, with townships, planned communities
to be crucial civil infrastructure and pathways in
and mixed-use commercial developments from
the new normal. Used for the transport of
some of the biggest names in local real estate
essential goods (such as vaccines) and exports,
well underway. With more residential projects in
having an efficient transport structure
the area cropping up, the share of luxury listings
surrounding airports is critical. In many cities,
in Mabalacat climbed 18 percentage points from
airports serve as growth poles in the
2Q2020 to 2Q2021. Leads for apartments,
development of its built environment - from
condos and land showed the biggest annual
Pasay’s nearby shops and entertainment,
increase in 2Q2021. Zonal values for
Lapu-lapu’s export processing zones, to Clark’s
commercial properties in the Mabalacat area of
transport network. They continue to bring value
Pampanga, where part of Clark is located, have
to local economies by attracting commercial
risen from Php 2,125 in 2007 to Php 8,000 in
and industrial development as well as by
2018.
enhancing the efficiency of firms and institutions
DAVAO relying on air transport.
As the main international gateway to Mindanao,
Sources:
the Davao International Airport (DIA) is a critical AIA Hong Kong, BusinessWorld, Cebu Daily News, CNN
point of entry for vaccines and other imported Philippines, Philippine News Agency, World Data
THE OUTLOOK QUARTERLY: A WRAP-UP OF THE PHILIPPINE HOUSING MARKET IN 2Q2021 | 15
 Need to request the latest trends for a particular
real estate market or region? Contact:

Deborah Ong Mark Bailey

Director, Corporate Accounts Lead Key Accounts Manager
deborah.ong@lamudi.com.ph mark.bailey@lamudi.com.ph
+63 917 510 0950