The oversupply of condominium units in Metro Manila has eased, with developers now expecting it will take around 31 months to sell all available units—an improvement from the previous quarter’s 38 months—according to the latest report from Leechiu Property Consultants (LPC).
Data from the third quarter showed that Metro Manila had 79,400 available condominium units across 619 active projects. Demand surged by 16% quarter-on-quarter to 7,713 units, while new project launches grew slightly by 0.3% to 1,766 units.
“Metro Manila condominium market is gaining traction, with demand rising, modest number of new launches, and inventory dropping to 31 months — on the right track to more manageable levels,” LPC said.
The previous quarter recorded 81,400 available units, which would have taken more than three years to sell. LPC’s research head noted that market take-up has reached a seven-quarter high and inventory levels are “trending toward lower months supply.”
Among the 7,713 units sold during the period, the largest share—2,855 units—came from the upscale segment priced between ₱7 million and ₱12 million. This was followed by 2,316 units in the upper middle-income range (₱4 million–₱7 million), 1,942 units in the high-end category (₱12 million–₱68 million), and 394 units in the middle-income bracket (₱2.3 million–₱4 million). The rest were luxury properties priced above ₱68 million.
The report also found that most available inventory belongs to higher-value developments, with 34% in the upscale segment and 32% in upper middle-income projects. Lower middle-income, luxury, and low-income units accounted for less than 6% combined.
“But while the market is moving in the right direction, the reality is that most of the available inventory remains out of reach for the average Filipino household,” LPC’s Research Director Golez said, stressing that closing the affordability gap is key to ensuring inclusive growth in the residential sector.
Quezon City had the highest number of available units at 19,100, followed by Ortigas (14,000), the Bay Area (13,300), Manila (10,700), Caloocan (8,800), Alabang (7,500), Makati (3,800), and Bonifacio Global City-Taguig (2,100).
