OVERVIEW
The 1Q 2025 Metro Manila Office Briefing by Savills Philippines provides an overview of the office market, highlighting leasing activity, vacancy rates, new office supply, rental performance, and key trends across Metro Manila's major business districts. The report offers valuable insights for occupiers, investors, developers, and landlords navigating the evolving commercial real estate market.
KEY FINDINGS
- Metro Manila office vacancy remained high due to earlier oversupply and weak net absorption
- Leasing activity showed early signs of recovery, driven mainly by BPO and traditional corporate demand
- Prime CBDs like Makati showed slightly better performance than secondary locations
KEY INSIGHTS
- Recovery is uneven across locations and tenant types
- Demand is shifting toward higher-quality, well-located Grade A buildings
- Much of the market activity is driven by relocations and consolidations, not major expansion
MARKET IMPLICATIONS
- Overall vacancy is expected to stay elevated despite improving sentiment
- Competition among landlords remains strong, leading to continued leasing incentives
- Prime office buildings will remain more resilient than secondary and older stock
- Market recovery will be gradual and selective, not broad-based
FAQ
What is the 1Q 2025 Metro Manila Office Briefing?
It is a quarterly research report by Savills Philippines that analyzes office leasing activity, vacancy rates, new supply, rental trends, and market performance across Metro Manila.
Who should read this report?
Office occupiers, investors, developers, landlords, brokers, and businesses looking for the latest insights into Metro Manila's office market.
What topics does the report cover?
The report covers office demand, vacancy, rental trends, new office supply, and the performance of Metro Manila's key business districts.
