Manila Condo Market Faces Repricing Amid Oversupply

Aug 5, 2026

76 min

Aug 5, 2026 01:32

Beyond supply glut, Manila condo market faces 'repricing': The numbers that matter

## Market Overview

The Manila condominium market is experiencing a significant shift as it grapples with an oversupply of units. As of August 2026, there are approximately 82,900 unsold condos in the city, reflecting a growing inventory issue. This situation has been exacerbated by the previous POGO-driven speculation, which led to an overheated market.

## Current Challenges

The vacancy rate in Metro Manila reached 24.7% by the end of 2025 and is expected to remain around 25% in 2026. The Bay Area is particularly affected, with vacancy rates exceeding 50%. This oversupply has created a buyer's market, with developers offering incentives such as discounts and extended payment terms to attract buyers.

## Opportunities for Buyers

For end-users and investors, the current market conditions present opportunities to negotiate better deals. Developers are providing various concessions, making it a favorable environment for genuine buyers. The mid-market segment is showing signs of recovery, with a significant portion of sales occurring in this category.

## Future Outlook

The market is expected to stabilize gradually, with vacancy rates potentially easing by 2027. Developers are likely to become more selective, focusing on projects in well-connected areas and exploring niche markets. The C5 corridor is anticipated to be a key area of development, with significant new supply expected.

## Conclusion

While the Manila condo market faces challenges due to oversupply, it also offers opportunities for strategic buyers. The market is undergoing a repricing phase, which could lead to a healthier balance between supply and demand in the coming years.

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