Colliers reported sustained improvement in Metro Manila’s residential market in the third quarter, the second consecutive quarter of rising pre-selling condominium net take-up. The property consultancy firm said this uptrend indicates that demand is holding firm, supported by attractive ready-for-occupancy (RFO) promotions and discounts offered by developers.
Colliers highlighted that the affordable to mid-income segments, priced between P2.5 million and P12 million per unit, accounted for over 90 percent of total net take-up during the first nine months of the year. This range continues to appeal to overseas Filipino workers (OFWs) and local professionals, who have been the primary drivers of end-user demand. These segments also represent about 80 percent of condominium completions in Metro Manila from 2016 to 2024.
With this resurgence, Colliers advised developers to explore new residential sites along the fringes of key business districts, where land remains more affordable. Fringe locations such as those in Makati, Quezon City, and Pasig City are gaining traction among buyers seeking value and convenience.
Colliers data showed healthy take-up in the C5 Corridor and Katipunan area, where projects are achieving sales rates of up to 100 percent and 85 percent, respectively. Meanwhile, the firm projects the completion of 8,620 new condominium units in 2025, with the Bay Area accounting for more than half of upcoming supply.
However, Colliers expects vacancy rates to climb to 26.5 percent by year-end, with the Bay Area’s vacancy remaining above 50 percent. Rental rates could see a slight correction of about 1.2 percent next year before rebounding in 2026.
“The mid-income condominium market is finally turning a corner,” said Joey Roi Bondoc, Colliers’ research director. “Developers’ innovative RFO promos are clearly paying off, setting the stage for a strong finish in 2025.”
