Metro Manila condo inventory edges up in Q2 — Leechiu

METRO MANILA’S residential condominium inventory rose to 82,900 units in the second quarter (Q2) of 2026 from 82,800 units a year earlier as new project launches and cancellations continued to outpace sales, while buyer demand remained relatively stable, according to property consultancy Leechiu Property Consultants (LPC).

Available condominium inventory reached 82,900 units across 616 actively selling buildings in the April-to-June period, compared with 82,800 units across 638 actively selling buildings in the same quarter last year.

Demand reached 7,255 units during the quarter, only slightly below the previous quarter.

According to LPC, end-user purchases and financing support programs continued to support demand despite persistent affordability constraints and inflation.

“Demand is still there, but people are being much more careful about where they put their money. Buyers are looking harder at value and affordability, while developers are taking a closer look at which projects to move forward with,” LPC Director of Research and Consultancy Roy Golez said in a report released on Tuesday.

“The market continues to move, but caution remains a defining theme for both sides,” he added.

LPC said the residential property market has yet to show signs of a broad-based recovery.

The consultancy said new supply and project cancellations continued to outpace sales, with most unsold units concentrated in the upper mid-market and upscale segments.

It also said the rental market remains under pressure due to the growing supply of ready-for-occupancy units, resulting in softer rental rates and compressed yields.

Developers, meanwhile, are focusing on capital preservation and project execution as elevated inventory levels and global uncertainty continue to weigh on market conditions, LPC said.

Outside Metro Manila, residential markets in Cavite, Laguna, Bulacan, Pampanga, and major township developments continued to expand, supported by infrastructure projects and population growth.

Some residential developments north of Metro Manila also posted double-digit price increases over the past six months.

LPC also identified the planned Pax Silica initiative as a potential long-term catalyst for real estate demand within the Luzon Economic Corridor. If implemented as planned, the project could spur demand for industrial estates, office space, research facilities, employee housing, educational institutions, digital infrastructure, and residential developments.

Looking ahead, LPC said demand is expected to remain supported by underlying housing needs, government housing programs, and continued infrastructure investment.

However, elevated inventory levels, weak rental rates, affordability constraints, and global uncertainty are likely to keep both buyers and developers cautious in the coming quarters, it said. — Alexandria Grace C. Magno