Despite a notable slowdown in the residential condo market, major Philippine property developers remained profitable in Q1 2025. According to a report by COL Financial, the combined net income of top real estate firms rose by 8.7%, reaching ₱30.81 billion.
The growth was driven by strong performance in non-residential segments, with retail leasing up 6.4%, office revenues increasing by 10.5%, and hotel earnings surging by 14.4%. These gains helped offset the 22% drop in residential take-up, largely caused by oversupply in the mid-income condo market and elevated mortgage rates.
COL Financial issued a “BUY” recommendation for Ayala Land, SM Prime, Megaworld, Robinsons Land, and Vista Land, citing solid fundamentals and favorable valuations.
To stimulate demand and address buyer hesitancy, many developers are now offering no down payment schemes and longer payment terms, making condo ownership more accessible despite current market headwinds.
