Metro Manila’s condominium market is still selling, but the supply overhang is larger. Leechiu Property Consultants‘ first-half report put Q2 2026 demand at 7,255 units, only slightly below the first quarter, while active inventory rose to 82,900 units across 616 selling buildings.<\/p>\n
Leechiu’s message is not that buyers disappeared. End users, government housing support and financing packages continue to generate demand. The issue is that buyers are more cautious about location, developer credibility, payment terms and resale liquidity.<\/p>\n
An 82,900-unit active inventory means developers in BGC, Makati, Quezon City, Pasig and the Bay Area have to compete harder for qualified buyers. Supply additions and cancellations can offset absorption, keeping incentives in the market even when gross demand looks healthy.<\/p>\n
Colliers has warned separately that Metro Manila vacancy could remain elevated as new completions arrive. That makes ready-for-occupancy discounts, longer down-payment terms and early move-in schemes more important for lower- and mid-income segments.<\/p>\n
Metro Manila’s second half should reward developers that convert inquiries into clean financing approvals. The market can absorb well-priced units, but buildings with weak location, high turnover risk or heavy investor ownership will keep carrying discount pressure. Bay Area stock and lower-mid-income cancellations remain the segments to watch.<\/p>\n