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Manila Bulletin devider Business devider Trade & Industry devider Homebuilding slows down in Philippines as developers pull back

Homebuilding slows down in Philippines as developers pull back

Published Feb 19, 2026 04:58 pm
Local construction industry decelerated at the close of 2025 as a slump in residential demand outweighed the modest uptick in commercial floor space, signaling a cautious outlook for private sector investment heading into the new year.
Approved building permits, a leading indicator for future construction activity, fell 5.9 percent in December from a year earlier, according to data released on Thursday, Feb 19, by the Philippine Statistics Authority (PSA).
The number of approved projects dropped to 11,411 from 12,127 in December 2024, continuing a downward trend from the 12,649 permits recorded in November 2025.
The pullback was even more pronounced in financial terms as the total value of private construction projects plummeted 13.4 percent to ₱33.62 billion in December from ₱38.84 billion in the same month the previous year.
On a month-on-month basis, the decline was sharper, falling from the ₱41.25 billion reported in November. The total floor area covered by these permits also shrank 8.2 percent to 2.67 million square meters amid broader scale-back in development size.
Residential construction, which typically serves as the backbone of the building sector by volume, bore the brunt of the slowdown. Permits for residential projects fell seven percent to 7,203 units.
While single-type houses accounted for nearly 88 percent of the segment, the total value of residential work dived 30.3 percent to ₱12.13 billion, suggesting that while individual homeowners are still breaking ground, high-value residential developments may be stalling amid shifting economic conditions.
The non-residential sector showed more resilience in physical footprint but struggled to maintain its total valuation. While the number of projects fell 3.6 percent to 2,666, the actual floor area for commercial and industrial buildings grew 2.9 percent to 1.61 million square meters.
Commercial buildings remained the dominant driver of this segment, representing over two-thirds of non-residential activity. Despite the increase in area, the total value of non-residential projects slipped 1.2 percent to ₱17.81 billion.
The only pockets of growth appeared in the maintenance of existing assets as expenditure on alterations and repairs jumped 23 percent to ₱2.60 billion, while additions to existing structures rose 16.6% to ₱0.48 billion.
These gains suggest that property owners are prioritizing the enhancement of current portfolios over the commencement of large-scale new builds. Other construction projects, however, saw a sharp 32 percent decline to ₱0.60 billion, underscoring the uneven nature of the sector's performance as 2025 drew to a close.
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