The National Capital Region: 75,000 unsold condo units, aggressive developer discounts, and a metro subway under construction. A buyer's market with clear sub-market divergence.
Pre-construction and near-delivery properties from developers who have passed our vetting standard.
Avg. price per sqm (mid-range)
Metro-wide condo vacancy rate
Unsold or vacant condo units
Gross yield range (CBD)
Metro Manila Subway partial ops
Metro Manila is the economic engine of the Philippines, generating a significant share of national GDP. Its condo market spans a wide spectrum: from blue-chip Makati and premium BGC to value plays in Quezon City and Mandaluyong. For foreign investors, the metro's significance lies in market depth. This is where the most liquid transactions, the deepest tenant pools, and the most established property management infrastructure exist.
The defining dynamic in 2026 is oversupply. Metro Manila ended 2025 with a 24.7% condo vacancy rate and approximately 75,000 unsold units. Colliers projects vacancy will peak this year before easing to 23.9% in 2027. The POGO (offshore gaming) industry collapse left significant vacancy in the Bay Area corridor. For buyers, this means genuine negotiating leverage: developers are offering spot cash discounts of up to 60% on ready-for-occupancy stock, and pre-selling payment terms are the most flexible in a decade.
Rental yields reflect the bifurcation. Premium buildings in Makati and BGC with multinational tenants hold at 3-5% gross. Mid-range inventory faces compression from oversupply and soft demand. The metro's strongest yields come from areas with deep BPO tenant pools: Quezon City's Eastwood and Vertis North, and the Ortigas Center corridor. The Metro Manila Subway, now 54% complete with partial operations targeted for 2028, will reshape transit access and property values along its route.
International buying has a few moving parts in every market. Here is what to consider in Philippines Real Estate, and the standard every developer clears before we list them.
Major investment is transforming Metro Manila Real Estate into a destination with the infrastructure to match its potential.
Metro Manila Real Estate attracts a global community drawn to quality of life, natural beauty, and the opportunity to live differently.
Not every market fits every investor. These profiles are where Metro Manila Real Estate has the strongest alignment between market fundamentals and investor goals.
Phase 1 pricing advantages, rapid appreciation during build, high post-delivery yields.
Explore strategy →Hard assets in non-correlated emerging markets. Inflation hedge and currency diversification.
Explore strategy →Fiber internet, co-working amenities, geographic freedom with cost-of-living arbitrage.
Explore strategy →Talk to our team about vetted opportunities in Metro Manila Real Estate.
