Colliers, a leading diversified professional services and investment management company, said its latest data for the third quarter reveals that unsold condominium inventory in Metro Manila has ballooned to 75,300 units, including both pre-selling and ready-for-occupancy units.
The professional services firm said the number represents a dramatic increase in inventory turnover time, with a projected 5.8 years needed to sell off all unsold units—roughly five times longer than the pre-pandemic period between 2017 and 2019, when the remaining inventory life ranged between 0.9 and 1.1 years.
Of the 75,300 unsold units, 27,200 are ready-for-occupancy units, valued at P154.4 billion.
As the market grapples with slower sales, Colliers suggests that developers should become more aggressive in re-capturing residential demand by offering attractive and innovative promotions. These could include early move-in deals, rent-to-own schemes for RFO units, and extended down payment terms for pre-selling properties—appealing to mid-income buyers concerned about rising inflation and mortgage rates.
Colliers also emphasized the growing importance of features that align with evolving consumer preferences. In the post-pandemic world, buyers increasingly prioritize open spaces, smart home technologies, and proximity to workplaces and shopping centers. Developers who integrate these features into their projects stand to attract more demand.
Moreover, upscale amenities, high-end concierge services, and quality after-sales support remain popular among the affluent and experienced clients. In response to the demand for healthier and more sustainable living, several developers have incorporated eco-friendly amenities such as glamping nooks, garden gazebos, and sky promenades in their new developments. Some have also added electric vehicle (EV) charging stations, further catering to environmentally conscious residents.
With residential trends shifting and a growing preference for modern, flexible living spaces, Colliers suggests that developers need to adapt quickly to maintain market relevance and appeal to today’s discerning buyers.
