The most expensive housing isn’t in developed countries, but in developing countries, The Economist reports. And according to a 2025 survey by analytics company Gallup, the Philippines ranks the worst in terms of housing affordability in emerging markets.
A graphic based on Gallup’s data shows that around 54 percent of respondents from the Philippines experienced housing-related financial problems. The Philippines is followed by 10 other Asian countries: Sri Lanka, Myanmar, Thailand, Bangladesh, India, South Korea, Nepal, Indonesia, China, and Singapore.
In Manila, quality apartment units cost 20 times as much as the median household income, according to Hong Kong-based real estate research firm Urban Land Institute. The report by The Economist also cites Quezon City Mayor Joy Belmonte as saying that developers are reluctant to build affordable housing in the country because they profit more from higher-end projects.
On a national scale, even public housing programs don’t do well for lower-income households. A June 2025 report by the Philippine Resource Center for Inclusive Development shows that the country’s socialized housing program is unaffordable for the poor and overly dependent on the private sector.
