Real estate industry reports and condominium units for rent in Makati, BGC, Pasay, Mandaluyong, Ortigas, Alabang, Sucat, Bicutan and Quezon City.

This December, reports indicate a significant oversupply of condominium units in the Philippines, particularly in Metro Manila, where the inventory has reached an alarming equivalent of 34 months of unsold units. This situation arises from a combination of factors, including a notable increase in the availability of units and a surge in buyer backouts—6,000 backouts were recorded since the third quarter of 2024, despite only 4,000 new units being sold during the same period. The relentless construction efforts by developers, despite slowing demand, raise concerns about the sustainability of this market trend.

The absence of Philippine Offshore Gaming Operators (POGOs), which previously contributed to demand for rental units, has exacerbated competition among landlords. Consequently, this has led to a decline in average rental prices as more units flood the market. Many buyers who invested during the early stages of construction have missed the opportunity to secure properties at more accessible prices over the past decade. Now, with prices soaring to unprecedented levels, homeownership has become increasingly unattainable for many local Filipinos.

Developers facing unsold inventory are resorting to renting out completed units as a temporary solution. While this may provide short-term relief, it poses a critical question: what will happen if construction continues unabated amid declining demand? If developers persist in building without addressing market conditions, they risk further inflating the oversupply issue and potentially destabilizing property values across the region. Overall, the current landscape suggests that unless there is a strategic shift in development practices and a better alignment with actual market demand, the oversupply crisis may deepen. The need for affordable housing solutions is pressing, and developers must adapt to changing buyer preferences to ensure long-term viability in this sector.

For now, check out our available units as of December 2024.

We have some more units that are not listed publicly as preferred by the owner. We have 3 great deals in the area of Nuvali, Mandaluyong and Makati City. Do let us know if you are curious to see these units. Call us at + 639155677656 or + 632 7 9563284 and look for Arah. Happy Holidays!!!