Philippine property developers are increasingly focusing on high-end real estate projects to meet rising demand from a growing affluent class.
Fueled by the country’s economic growth and rising incomes, Filipino consumers are seeking more upscale and luxurious living spaces. Developers are responding by launching premium properties that cater to this affluent market.
Ayala Land Inc. (ALI), one of the Philippines’ leading property developers, plans to continue focusing on the premium segment of the market. ALI president and chief executive officer Anna Margarita Dy noted that Filipinos, especially younger generations, are becoming more affluent.
“When we look at our buyers, we see a significant number of first-time buyers, which suggests a continuous demand,” Dy said.
Many of these new affluent clients are entrepreneurs and professionals in their 40s with average monthly incomes of P300,000 to P1 million.
To meet this growing demand, property developers are launching a series of high-end projects featuring luxury amenities, prime locations, and cutting-edge designs. These developments, often high-rise towers with panoramic city views, state-of-the-art facilities, and bespoke services, are setting new standards for upscale living in the Philippines.
“We want to launch products that cater to all segments of the market and offer something new to our clients,” Dy said.
Real estate analysts predict that this trend will continue, with more developers entering the high-end market. Leechiu Property Consultants said sustained job creation, particularly in the IT-BPM sector, and overseas Filipino remittances are driving demand for residential condominiums in Metro Manila.
Over the past decade, the Philippine economy has demonstrated robust growth, leading to a rise in the income levels of middle- and upper-class citizens. This economic upliftment has spurred an increase in disposable income and consumer confidence, fueling demand for upscale properties.
