How Philippine real estate is winning on quality, diversity, and trust
Bangkok—The Philippines, today, commands a visible place among Asia’s leading real estate markets. And for good reason.
From his vantage point at the PropertyGuru Asia Property Awards, managing director Jules Kay said he has watched the country’s growth unfold over the past decade, and now sees a market that is highly competitive and increasingly distinctive.
“The quality of the projects that are coming out of the Philippines stand very strongly shoulder to shoulder with other markets, like Singapore, Australia, [and] Thailand,” Kay said in an interview with Philippine media, on the sidelines of the Asia Real Estate Summit in Bangkok.
“The fact that they can keep coming back with new projects and still hit the high levels in terms of recognition means they keep evolving,” he added.
Diverse landscape
One of the most striking shifts, Kay noted, is the growing diversity of the Philippine real estate market in terms of product offering, segments, and geography.
The local industry today caters to sharply differentiated segments across the value and lifestyle spectrum–from economic, affordable and mid-market housing to premium, luxury, and ultra-luxury developments, and spanning formats such as lots-only and house-and-lot projects, condominiums, townships, mixed-use industrial estates, golf communities, lakeside villages, and prime resort-style neighborhoods.
“We don’t only do residential right now,” Kay said. He cited as an example the Aboitiz Group which is “a big industrial developer” that continues to catch the eye of an international judging panel because they “do it in an original way… every year.”
What also used to be a primarily Metro Manila–centric story has since evolved into a broader narrative, as national and homegrown developers expand their presence in key provinces like Cebu and Davao.
Early leadership
Kay also pointed out that the Philippines is emerging strongly on multiple fronts, combining its early leadership in sustainability with the growing momentum in branded residences and experience-led developments.
“If I look back to…10 years ago, Philippine developers were actually leading the way in sustainability. You had developers that were LEED certified before anyone else around Asia, apart from maybe Singapore. Again, the innovation and the speed to adapt to what people need were impressive,” Kay said.
That early commitment to sustainability is now catering to a market more sensitive to energy efficiency, well-being, and climate resilience. It has also helped position the Philippines as a credible player in terms of responsible development across Asia.
Another arena where Philippine developers are beginning to stand out would be branded residences and resort-style mixed-use projects, especially in key leisure destinations.
While many regional markets are only starting to test branded residential concepts, Kay said the Philippines has already established partnerships with global hospitality brands, embedding international standards of service, design, and lifestyle into its offerings.
Strong fundamentals
Looking at the country’s fundamentals, Kay sees a structural advantage for the local property sector: the overseas Filipino market. This diaspora base provides a resilient, built-in demand pool that can help support the industry through various cycles.
Just as important, too, is the culture of collaboration among local players. Philippine developers, he said, are “creative” and “work together very well,” often “learning from each other” and forming local partnerships alongside foreign joint ventures.
This gives the market a degree of flexibility and longevity that helps the sector remain resilient amid uncertainties.
Trust
That resilience is now relevant as Asia enters a more uncertain phase, marked by slower growth and broader economic and geopolitical shifts. In such an environment, Kay believes one factor now rises above all others: trust.
After a decade of rapid expansion, buyers and investors have become far more discerning.
“After a decade of rapid growth, trust is everything,” Kay said. “Homebuyers and investors need to believe that developers will deliver what they promise.”
This, he stressed, is where PropertyGuru’s role becomes increasingly important.
“Our role is to shine a spotlight on those who consistently meet that standard, so consumers can see who is truly committed to quality,” Kay added.
