Manila Condo Market Offers Bargains Amid High Vacancy Rates

Jul 4, 2026

72 min

Jul 4, 2026 03:31

Buying a Manila condo? Now may be the best time as developers roll out bargains

## Current Market Conditions

The Manila condominium market is currently favorable for buyers, with developers offering significant discounts and flexible payment options. This trend is driven by high vacancy rates and a large inventory of unsold units.

## Factors Contributing to Oversupply

Several factors have led to the current oversupply in the market. These include the slowdown during the pandemic, the exit of many Philippine offshore gaming operators, and a surge in condominium completions that have outpaced demand. Interest rates have also been elevated, contributing to the situation.

## Market Dynamics

Despite challenges, there are signs of improvement. Sales in the first quarter of 2026 increased significantly compared to the previous year, and unsold inventory has started to decline. Developers are using aggressive discounts and rent-to-own offers to attract buyers.

## Regional Variations

Vacancy rates vary across Metro Manila. The Bay Area in Pasay City faces the highest vacancy rates, while established business districts like Makati and Bonifacio Global City remain more resilient due to stronger demand.

## Buyer Advantages

Buyers currently have more negotiating power, with developers offering incentives such as furnished units and waived fees. However, affordability remains a challenge due to relatively high financing costs.

## Future Outlook

The market is expected to recover gradually. Developers are cautious about launching new projects and are focusing on areas with strong end-user demand. Infrastructure investments in growth corridors outside Metro Manila are also expected to support the market's recovery.

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