Iloilo city: The demand for property outside Metro Manila continues to be strong, Colliers Philippines Research Director Joey Roi Bondoc said Tuesday. In a property briefing, Bondoc highlighted that for the first quarter of 2026, Iloilo City has outpaced Metro Cebu in terms of total occupied office spaces.
According to Philippines News Agency, Bondoc expressed optimism regarding the growing appetite for new office locations and residential hotspots, as well as leisure and retail destinations outside of Metro Manila. He emphasized that this trend is expected to continue beyond 2026 as developers, investors, and occupiers diversify and seek thriving locations outside the National Capital Region. Bondoc noted that Iloilo City is attracting high-value outsourcing companies, further boosting its property market.
In his presentation, Bondoc also pointed out the steady market for condominiums outside Metro Manila. The take-up rate in the Visayas and Mindanao (VisMin) regions stands at 87 percent, with Iloilo achieving an impressive 89 percent. For house and lot properties, the VisMin area shows a 92 percent take-up rate, with Iloilo at 96 percent. The take-up rate for lot-only properties is 86 percent, with Iloilo at 80 percent. These strong take-up rates could be attributed to the growing domestic market, and developers are beginning to integrate wellness features into their projects.
Bondoc stated that remittances by overseas Filipino workers (OFWs) continue to drive retail residential spending across the Philippines. OFWs are increasingly purchasing residential units, such as condos, house and lot, and lot-only properties. Citing a survey by the Bangko Sentral ng Pilipinas, Bondoc revealed that 17 percent of the remittances received by households during the first quarter of 2026 were allocated for real estate purchases.
Megaworld Corp. First Vice President for Corporate Communications and Media Affairs Harold Geronimo, in his message, affirmed the company's commitment to its business. He noted that their developments, especially township projects across the Philippines, particularly in the provinces, are progressing as planned. Geronimo announced that all core businesses of Megaworld experienced growth during the first quarter of the year.
