Metro Manila’s Condo Oversupply: What It Means for Buyers and Investors

Metro Manila’s Condo Oversupply: What It Means for Buyers and Investors The Metro Manila condominium market is currently grappling with a significant oversupply, with the availability of units now equivalent to a staggering 34 months’ worth of inventory. This means it could take nearly three years to sell off the current stock of units at the present sales pace. What Caused the Oversupply? The oversupply stems from a sharp increase in unit availability this November, partly due to 6,000 recorded backouts since the third quarter of 2024. The reasons behind this trend include: High interest rates: Rising borrowing costs have made condo ownership less attractive for many buyers. Shift in preferences: Many homebuyers are now opting for single-detached homes and properties in the provinces, seeking more space and affordability. What Does This Mean for Buyers? This market shift creates an advantageous situation for buyers and investors looking to purchase condominium units. Oversupply often ...