Philippines · PHL · snapshot 2026-10-06
Philippines
Measured
Currency movement
+7.3%
The local currency bought fewer euros at the end of this window than at the start — a cheaper entry for a euro-denominated buyer, and a worse exit for anyone already holding the asset.
What it does not show. It is not a forecast and not a property return. A currency move and a price move are different facts and routinely point opposite ways; nothing here says which way either is going next.
Foreign-buyer rules
2 of 2 published rules apply
These are the restrictions a foreign buyer meets before price is even discussed — approval regimes, surcharges, ownership limits.
What it does not show. It is not a completeness claim. A rule we have not read is not a rule that does not exist, and this row counts what is cited, not what is in force.
Cost of money
5%
The price of money to banks in this jurisdiction, which sets the floor everything else is priced from.
What it does not show. It is emphatically not a mortgage quote. What a non-resident is offered is a different number, usually much higher, and the gap between them is where a market's financing story actually lives.
Supply against absorption
Not measured
No statistics agency for this market has been read and cleared for republication. Two have been anywhere: Canada and Singapore. The data very likely exists; the permission to publish it has not been established.
Residential price cycle
Not measured
The OECD house-price dataset does not carry this territory, so there is nothing withheld here — the ratio has not been measured by the source we hold.
Valuation against its own history
Not measured
The OECD house-price dataset does not carry this territory, so there is nothing withheld here — the ratio has not been measured by the source we hold.
On the market now
Not measured
No listings platform has been read for this market. The one platform this site can read covers Russian cities only, and inventing a count for anywhere else would be worse than an empty row.
No dossier has been written for this market yet. What follows is the measured layers and the rules, each with its source — not an argument about whether to be here. A market reaches this page as soon as two layers can be cited, because an unwritten thesis is a reason to publish less, not a reason to publish nothing.
The series behind those figures, and the workings
Currency
+7.3%
Twelve-month move in PHP per euro, 67.2118 in 2025-09 to 72.0974 in 2026-09. Positive means the local currency weakened. Source: European Central Bank monthly reference averages.
70.7020
Latest daily fixing, PHP per euro on 2026-10-06. Shown because it is what a reader would see if they went and looked; the window above uses monthly averages, which one volatile day cannot move.
Against other base currencies
A market is cheap or dear relative to the capital entering it, so the same twelve months read differently depending on what the buyer holds. Both legs are quoted per euro, so the euro cancels and no third source is involved.
| Buyer holds | PHP per unit, 2025-09 | PHP per unit, 2026-09 | Twelve-month move |
|---|---|---|---|
| US dollar (USD) | 57.2882 | 62.6214 | +9.3% |
| Pound sterling (GBP) | 77.3487 | 84.0174 | +8.6% |
| Swiss franc (CHF) | 71.8874 | 76.4565 | +6.4% |
| Singapore dollar (SGD) | 44.5836 | 49.2071 | +10.4% |
| Australian dollar (AUD) | 37.7703 | 44.5986 | +18.1% |
Cost of money
5%
Central bank policy rate, 2026-08. Source: Bank for International Settlements.
This is the price of money to banks, not the price of money to a non-resident buying a building. The gap between those two is where a market’s financing story actually lives, and it is not in this number. A mortgage quote for a foreign buyer depends on the lender, the asset and the borrower, and no public dataset carries it.
BIS terms permit this figure on a free page and state that nothing in their statistics constitutes investment advice. They also allow inclusion in a commercial product only where it adds no charge, so this series is published here and is not priced into any paid work.
Background
Annual national statistics from the World Bank, under a licence that permits reuse with attribution. They describe the country; they do not time an entry, and they are not counted as measurements of this market — otherwise every territory on earth would claim to be measured on the strength of one dataset.
| Indicator | Value | Year |
|---|---|---|
| GDP per capita | 4,171 US$ | 2025 |
| Consumer price inflation | 1.7 % | 2025 |
| Population | 116,786,962 | 2025 |
| Urban population | 55.8 % of total | 2025 |
| Official exchange rate | 57.5051 per US$ | 2025 |
What the rules do to a foreign buyer
Each entry cites the instrument and the authority page it was read from, with the date it was retrieved. Facts of law change; the retrieval date is how you know how old this reading is.
| Topic | How it fails you | In force | When it bites | Applies to | What applies | Instrument | Read on |
|---|---|---|---|---|---|---|---|
| Land, which a foreigner cannot hold at all | Not allowedMoney does not open itYou paid and hold nothing | In forcefrom 1987-02-11 | On the way in | Land onlyYour passportReaches a company too | The Constitution closes Philippine land to foreign owners in two short steps. Section 7 of Article XII provides that, save in cases of hereditary succession, no private lands shall be transferred or conveyed except to individuals, corporations or associations qualified to acquire or hold lands of the public domain. Section 3 says who those are: alienable lands of the public domain are limited to agricultural lands, private corporations may hold them only by lease for up to twenty-five years renewable once and not exceeding one thousand hectares, and citizens of the Philippines may lease up to five hundred hectares or acquire up to twelve by purchase, homestead or grant. A foreign national is nowhere in that list, so the qualification Section 7 requires cannot be met, and the prohibition on private land follows from it rather than being stated separately. Section 8 opens one narrow door, and only for a natural-born Filipino who has lost their citizenship, subject to limits set by law. The consequence of this being constitutional is that no ministry can license around it and no vehicle can be interposed: no corporate form satisfies the qualification test that the individual behind it fails. | Constitution of the Republic of the Philippines (1987), Article XII, Sections 2, 3, 7 and 8. Read from the text published by the Supreme Court E-Library. | 2026-09-06 |
| The condominium, and which of its two structures lets you in | A cap that can be fullMoney does not open itThe transaction never happened | In forceNot stated by the source | On the way in | Residential onlyYour passport | The way into Philippine residential property for a foreigner is a condominium unit, and the Condominium Act makes that turn on how the building holds its common areas — a distinction most summaries collapse into a single figure. Where the common areas are owned by the unit owners as co-owners, no unit in the project may be conveyed or transferred to anyone other than Filipino citizens or corporations at least sixty per cent of whose capital stock belongs to Filipino citizens, except by hereditary succession; in that structure a foreign buyer is excluded outright and the familiar forty per cent has nothing to attach to. Where the common areas are held by a condominium corporation instead, a transfer of a unit is invalid if the accompanying transfer of the membership or shareholding would cause the alien interest in that corporation to exceed the limits existing law imposes. So the constraint is not a share of the building the buyer may own; it is a ceiling on the corporation's alien interest, tested at the moment of transfer, and a purchase that would breach it does not merely attract a charge — it is not valid. | Republic Act No. 4726 (The Condominium Act), Section 5. Read from the text published by the Supreme Court E-Library. | 2026-09-06 |
What is missing, and why
valuation — Source does not cover this market
The dataset simply does not include this territory. Absent, not zero.
The OECD house-price dataset does not carry this territory, so there is nothing withheld here — the ratio has not been measured by the source we hold.
supply — Source does not cover this market
The dataset simply does not include this territory. Absent, not zero.
No statistics agency for this market has been read and cleared for republication. Two have been anywhere: Canada and Singapore. The data very likely exists; the permission to publish it has not been established.
What supports this, what would make it wrong, and how it could go
Record
| Why this market is on the list | Added because two layers already covered it from sources whose licences are confirmed — the ECB reference rate for the currency and the BIS policy rate for the cost of money — and neither needed a new grant, a new connector, or a new fetch. The friction layer was opened on 2026-09-06 from the text of the 1987 Constitution and the Condominium Act as published by the Supreme Court E-Library. The restriction here is constitutional rather than fiscal, which is a different kind of fact: it cannot be repriced, waived by an agency, or planned around by a holding structure. It is on the screen because it is measured, not because it was chosen. |
|---|---|
| Dossier | None written. Layers and rules only, which is why this market reads as “Measured” rather than reviewed. |
| Next review | 2026-11-15 |
| Evidence snapshot | 2026-10-06 |