Metro Manila’s residential condominium inventory rose to 82,900 units in the second quarter of 2026, up from 82,800 a year earlier, as new project launches and cancellations continued to outpace sales while buyer demand remained relatively stable.
The inventory covered 616 actively selling buildings during the April‑June period, compared with 638 buildings in the same quarter last year. Demand reached 7,255 units in the quarter, a slight decline from the previous quarter.
End‑user purchases and financing support programs continued to bolster demand despite persistent affordability constraints and inflation. Buyers are scrutinizing value and affordability, while developers reassess which projects to advance.
Caution remains a defining theme for both sides, and the market has yet to show signs of a broad‑based recovery. New supply and project cancellations still exceed sales, leaving most unsold units concentrated in the upper‑mid‑market and upscale segments.
The rental market is under pressure from a growing supply of ready‑for‑occupancy units, resulting in softer rental rates and compressed yields. Developers are focusing on capital preservation and efficient project execution as elevated inventory levels and global uncertainty weigh on conditions.
Outside Metro Manila, residential markets in Cavite, Laguna, Bulacan, Pampanga and major township developments continue to expand, supported by infrastructure projects and population growth. Some residential developments north of the capital have posted double‑digit price increases over the past six months.
A planned initiative within the Luzon Economic Corridor could serve as a long‑term catalyst for real estate demand, potentially spurring industrial estates, office space, research facilities, employee housing, educational institutions, digital infrastructure, and residential developments. The project aims to attract investment across multiple sectors and enhance regional connectivity.
Looking ahead, underlying housing needs, government housing programs, and continued infrastructure investment are expected to sustain demand. Nevertheless, elevated inventory, weak rental rates, affordability constraints, and global uncertainty are likely to keep both buyers and developers cautious in the coming quarters.
