Outlook 2023 Philippines

MANILA

RENT GROWTH

RENT (PHP/SQM/MO) AND RENT GROWTH (% PER ANNUM)

FORECAST

1,160

5.0%

 Rents are expected to show positive year-on-year growth in 2022, after declining in 2021.  From there, rents are expected to grow by approximately 2.3% annually until 2026.

1,140

4.0%

1,120

3.0%

1,100

2.0%

1,080

1.0%

1,060

0.0%

1,040

-1.0%

1,020

-2.0%

1,000

-3.0%

980

-4.0%

2020

2021

2022F 2023F 2024F 2025F 2026F

Rent (PHP/SQM/MO

Rent growth (%)

Source: Cushman & Wakefield