PROPERTY developers are accelerating expansion across the Visayas and Mindanao amid sustained demand for housing, office space and hotels in the regions, according to a report from real estate services and investment management firm Colliers Philippines.
“Developers continue to ramp up expansion and differentiation outside of Metro Manila, [which is] why we see the launch of massive horizontal projects,” said Colliers head of research Joey Roi Bondoc.
Visayas and Mindanao (VisMin) are key growth areas for residential development, with 45,000 condominium units projected for completion from 2026 to 2029, Colliers said, while Cebu and Davao are expected to account for more than 60 percent of the pipeline, driven largely by demand for affordable and mid-income projects.
“We continue to see price appreciation in key localities outside of the capital region, and we are optimistic that these areas will remain viable for residential development beyond 2026,” Bondoc said.
Demand for horizontal housing projects also remained strong. House-and-lot prices in major VisMin markets rose an average of 2 to 6 percent annually from 2016 to 2025, while residential lot prices posted yearly gains of 7 to 13 percent over the same period.
Take-up rates for both segments stayed healthy, buoyed particularly by overseas Filipino worker households.
Beyond residential real estate, the outsourcing sector continued to underpin office demand outside Metro Manila despite slower leasing activity in the first quarter.
Iloilo is the country’s busiest provincial office market during the period, overtaking Cebu in transactions.
Colliers also projected the delivery of 7,900 hotel rooms across VisMin through 2029, with foreign operators comprising 62 percent of the new supply.
“Foreign brands continue to expand through partnerships with local players,” Bondoc said, adding that airport modernization and improved road access to tourist destinations should draw more international, higher-spending visitors.
Infrastructure upgrades, tourism growth and sustained property demand should continue to support investment opportunities across the Visayas and Mindanao in the coming years, the report concluded.