Two Cities, One Future: How Clark and Metro Manila Are Powering the 2025 Property Comeback
- Brixon Realty
- Jun 6
- 3 min read
Updated: Sep 1
Let me tell you a story.
It starts in a condo in Makati, early 2021. The streets were quiet. Offices were dark. Malls had more security guards than customers. A young couple sat on their couch wondering—Did we just buy a unit in the worst year ever?
Fast forward to 2025. That same couple is now sitting on a balcony overlooking a busy skyline. Offices are filling up. Cafés are loud again. A new expressway just shaved 45 minutes off their weekend drive to Clark. And that condo they bought during the pandemic? It’s now worth significantly more than they imagined.
This isn’t fiction. This is the Philippine real estate market—alive, recovering, and transforming itself.
Post-Pandemic Pulse Check
The years 2020 and 2021 hit hard. But Filipino resilience? Stronger.
In 2024, OFW remittances reached an all-time high of $38.34 billion, according to the Bangko Sentral ng Pilipinas—fueling a wave of mid-market home buying. Tourism is roaring back too. The Department of Tourism reported ₱65.3 billion in revenue in January 2025 alone, a staggering 151% jump from pre-pandemic levels.
Meanwhile, the BPO sector continues to hire, with office space demand quietly rebounding in key districts. Developers, after a cautious pause, are now moving forward with smarter, more strategic projects.
Demand didn’t disappear. It waited. And now—it’s waking up.
Metro Manila: A Market Rebalancing
Some say Metro Manila is overcrowded. Overpriced. Overbuilt.
But here’s the truth: Metro Manila is rebalancing.
Yes, the office vacancy rate surged—rising to over 20%—largely due to the exit of Pogo (Philippine Offshore Gaming Operators) and the rise of hybrid work models. But this shift also cleared the way for sustainable tenants to come in.
JLL Philippines notes that this created a “tenant-friendly” market, where firms are securing premium space at more competitive rates. In fact, several BPOs have taken the opportunity to upgrade offices or expand their footprint in prime locations.
On the residential side, prices in core areas have held firm—especially for properties with good accessibility and mixed-use potential. Savvy investors are quietly moving in, knowing this is the calm before the next wave, not the aftermath.
Clark and Pampanga: The Rise of the North
Drive just two hours north, and you’ll find a different kind of energy. Clark and Pampanga aren’t the future anymore—they’re the present.
A new terminal at Clark International Airport. The upcoming North–South Commuter Railway. World-class infrastructure. And spacious land still priced far below Metro Manila levels.
It’s no surprise that Colliers Philippines recently identified Central Luzon—especially Pampanga—as a top growth corridor, citing lower land values, talent access, and rising tourism as key advantages.
In San Fernando and Porac, master-planned townships are rising. Clark Global City is attracting BPOs, tech companies, and international brands. Major developers are no longer asking if they should build there. They’re asking how soon.
As Sheila Lobien said at a recent Manila Times forum:
“Pampanga now ranks third in available office space nationwide. Leasing activity is picking up, and developers are accelerating their plans.”
What’s Driving the Boom?
Three forces are quietly powering this resurgence:
Remittances. Stable and growing, driving real demand for family homes.
BPO expansion. Over 160,000 new jobs projected in 2025, creating needs for both office space and housing.
Infrastructure. Game-changing investments like new rail lines, highways, and airports are unlocking growth far beyond Metro Manila.
What to Watch
Yes, interest rates remain high. Loans are more expensive. Some office towers still have empty floors.
But that’s exactly when opportunity shows up—when the bold move while others hesitate.
This is the window seasoned investors wait for. As JLL puts it:
“The next 12–24 months will define who captures the new cycle’s gains.”
Final Thought
If you’re waiting for a perfect market, you’ll miss it while looking.
Because the real signals aren’t in the headlines. They’re in:
Busy airports
Cranes in Clark
Leasing deals in BGC
And a quiet condo in 2021, now part of someone’s comeback story.
The real estate revival isn’t coming. It’s already here. And it’s rising—one floor at a time—from the heart of Metro Manila to the open skies of Clark.
