Nationwide housing prices rose 4.5% in the first quarter of 2026, according to the Residential Property Price Index. The increase marks a slowdown from the 7.6% year‑over‑year growth recorded a year earlier and ends two consecutive quarters of decline.
On a quarter‑on‑quarter basis, the index climbed 5.6%, reversing a 1.3% dip in the fourth quarter.
The recovery was led by the National Capital Region, where prices rose 3.5% year‑over‑year, down from 13.9% a year earlier. Quarter‑on‑quarter, NCR prices jumped 10.4% after a 2% decline in the previous quarter.
Areas outside the NCR experienced a 5.7% year‑over‑year increase, outpacing the 3% growth recorded the year before. Quarter‑on‑quarter, prices in those regions rose 2.5% following a 0.7% contraction.
The Greater Manila Area posted the fastest annual growth at 9.7%, followed by Metro Cebu at 9.4%; Metro Mindanao saw a modest 1.3% rise after a 7.6% increase the prior year. Other regions recorded a 4.7% year‑over‑year decline.
Condominium unit prices rose 4.6% year‑over‑year, slowing from a 10.6% gain in the comparable period. Quarter‑on‑quarter, condo prices surged 11.1% after a 1.7% drop in the fourth quarter.
House prices—including single‑attached, detached, townhouses and duplexes—advanced 3.9% year‑over‑year, slightly slower than the 4.5% growth recorded previously. On a quarterly basis, they increased 0.8% after a 0.9% contraction.
The median price for all housing types stood at 3.9 million pesos in the first quarter. Median prices were 4.72 million pesos for condominiums and 3.39 million pesos for houses.
In the NCR, the median house price reached 8.36 million pesos, while houses outside the capital averaged about 2.41 million pesos. Condominium median prices were 5.32 million pesos in the NCR and 3.49 million pesos in Metro Mindanao.
Residential real estate loans grew 1.3% year‑over‑year but fell 23.9% quarter‑on‑quarter across all housing types. Tighter credit standards and weaker loan demand were cited as primary factors behind the quarterly decline.
Consumer sentiment for purchasing a house and lot remained negative in the first quarter, though it was less pessimistic than in the previous quarter. A senior loan officers’ survey indicated reduced loan demand contributed to the slowdown.
Loan availments rose 7.6% year‑over‑year in the NCR but slipped 1.1% year‑over‑year in areas outside the capital. Despite the dip, regions outside the NCR accounted for the bulk of loan volume, with the Greater Manila Area representing 40.1% of total disbursements and the NCR 29.1%.
New housing units comprised 77.6% of loan disbursements, pre‑owned properties 22%, and foreclosed properties 0.4%. Houses received 60.4% of loan amounts, while condominium units accounted for 39.6%.
