Philippine Property Market: Condo Glut Persists as Industrial Demand Gets a US-Led Boost
Written by PropVela Editorial TeamPublished 1 min read
Today's roundup looks at two contrasting forces shaping the Philippine property market: a still-heavy condo inventory in Metro Manila and fresh momentum in industrial real estate tied to US-led regional infrastructure projects.
From POGO Bust to C5 Boom: Uneven Contours of Manila's Condo Recovery
Metro Manila's condo market remains oversupplied, with Colliers estimating 79,200 unsold units by the end of 2025 and residential vacancy hovering near 24.7%. A separate industry tracker paints an even bleaker picture, pegging unsold stock at 82,900 units as of August 2026. Vacancy is projected to stay around 25% through 2026 before edging down to roughly 23.9% in 2027, even as developers managed to sell about 10,100 preselling and ready-for-occupancy units in 2025 — an 8% uptick from the prior year. According to Gulf News, the numbers suggest a slow, uneven recovery rather than a quick turnaround.
US-Led Projects Lift Philippine Industrial Property Demand
Manila climbed to second place in Knight Frank's Prime Global Cities Index for the first quarter of 2026 after prime residential prices jumped 19% year over year, with the firm still describing the city as comparatively affordable against other Asia-Pacific luxury markets. On the industrial front, the standout development was the Philippines' formal entry into the Luzon Economic Corridor and Pax Silica network, signaling growing US-linked interest in the country's industrial real estate. According to Daily Guardian, these developments point to strengthening cross-border investment ties bolstering both luxury housing and industrial property demand.