Why Metro Manila’s Condo Oversupply Could be a Win for First Time Homebuyers

Metro Manila’s condominium market is experiencing a record-high oversupply, presenting a prime opportunity for first-time homebuyers. According to the 2024 Metro Manila Residential Report, around 26,300 ready-for-occupancy (RFO) units remained unsold at the end of last year. Additionally, the city’s rising vacancy rate, driven by aggressive property development, has contributed to the growing number of available units. 

In response, developers are offering competitive pricing, flexible payment terms, and additional incentives. With interest rate cuts expected to bring down mortgage rates, conditions are becoming increasingly favorable for buyers.