C9 Hotelworks Branded Residences Report – Philippines unveils the country’s second place in Asia in the real estate sector with record breaking supply value of USD 4.6 billion
Despite a sluggish recovery in international tourism, the Philippines is making a significant impact on Asia’s branded residences sector, ranking second in the region and attracting the attention of global luxury brands.
According to C9 Hotelworks’ Asia Branded Residences Report, the sector has reached a record-breaking supply value of USD 26.6 billion across the region, encompassing 68,001 units. Thailand leads the market with a 23.3% share, followed closely by the Philippines at 17.3% and South Korea at 11.6%. Emerging markets such as Malaysia, Vietnam, and India collectively contribute 24.5% to the total market share.
The Philippines also holds the second spot in terms of market value, reaching USD 4.6 billion, following Thailand. The market’s expansion spans both urban and leisure destinations, with Metro Manila taking the lead with 18 properties and 6,246 units. Other key locations include Cebu, Boracay, Davao, Palawan, and Bohol.
Traditionally catering to domestic buyers and overseas Filipino workers (OFWs), the sector is now witnessing increased interest from elite international hospitality brands entering the market for the first time.
“The rise of global branded residences is enhancing the appeal of Philippine real estate to overseas buyers,” said Bill Barnett, Managing Director of C9 Hotelworks. “Given the current domestic downturn, the market needs more diversity rather than relying solely on local and OFW buyers. Thailand’s approach offers valuable insights.”
Thailand’s branded real estate sector has historically been driven by resort markets. However, the entry of ultra-premium projects such as Porsche Design Tower Bangkok—priced at USD 30,000 per square meter—has energized the urban luxury segment.
“Cities like Bangkok, Miami, and Dubai have become global playgrounds for affluent collectors of unique real estate assets. With its strategic regional location, vibrant entertainment scene, gaming industry, and lifestyle offerings, Manila has the potential to evolve into a similar international hub,” added Barnett.
The Ascott Limited, a pioneer in international branded residences in the Philippines with over two decades of experience, remains optimistic about the sector’s long-term growth.
“We are deeply committed to the Philippines and believe our leading brands—Somerset, Citadines, and now Oakwood—will provide the confidence and high-quality services sought by buyers of internationally branded residences,” said Saowarin Chanprakaisi, Vice President of Business Development at The Ascott Limited.
As the market matures, the Philippines is poised to strengthen its position as a premier destination for branded residences, offering a compelling mix of luxury, lifestyle, and investment opportunities.
