Analysts urge devs to lower condo prices, reduce supply

Property analysts suggest that developers in Metro Manila need to improve market research and reduce condominium prices to address a supply-demand mismatch.

Anthony Gerard O. Leuterio of Filipino Homes noted that many potential buyers cannot afford current condo prices in the capital.

Unsold inventory in Metro Manila reached 75,300 units by the third quarter of 2024, with an estimated five-year sales period, compared to pre-pandemic levels.

Joey Roi Bondoc from Colliers Philippines advised developers to lower ready-for-occupancy (RFO) prices and limit new supply to address oversaturation.

Lovelle Althea Trisha Taleon of Santos Knight Frank highlighted a shift in consumer preference towards properties outside Metro Manila due to market saturation and high population density.