PH has one of the world’s least affordable housing markets

More than half of Filipinos report housing-related financial difficulties, The Economist reported.

The Philippines may have one of the least affordable housing markets in the world, with more than half of Filipinos experiencing housing-related financial difficulties.

Citing data from global research firm Gallup, The Economist reported that more than 55% of Filipinos said they experienced housing-related financial difficulties in the past year.

The March 25 report also noted that quality housing in the country may cost 20 times the median household income, quoting Hong Kong-based nonprofit the Urban Land Institute. The cost-to-income ratio exceeded those of global cities such as Manhattan in the United States and Mayfair in the United Kingdom.

The financing gap

Average Filipino monthly household income in 2023 was ₱15,820, or ₱189,842 annually, according to the Congressional Policy and Budget Research Department.

Meanwhile, the median selling price for homes in the country in 2025 was ₱3,462,235, according to the Bangko Sentral ng Pilipinas. Data from Wise places the cost of a one-bedroom apartment in the metro at between ₱8,000 and ₱40,000 per month, or ₱96,000 to ₱480,000 per year.

The Economist pointed to an emerging housing crisis across Asia, attributed to high costs amid stagnating income. Housing loans in Southeast Asia accounted for less than 10% of countries’ gross domestic product, compared to 50% in Western economies.

 

 

New data from The Economist and Gallup reveals that over 55% of Filipinos struggle with housing costs, as property prices in the country reach a staggering 20 times the median household income.

 

 

READ: