Manila Property Listings Linger as Vendor Discounts Widen in Mid-2026

A growing number of residential properties across Manila are exceeding 90 days on market this quarter, pushing sellers to offer steeper discounts for the first time since the pandemic rebound. New data from property analytics firm Leuterio cited in a July 3 market brief shows average vendor discounting in the capital hit 7.2% in June—up from 4.8% a year ago—while the typical listing now sits for more than 78 days before a sale, compared to just 55 days this time last year.

Lagging Inventory in Key Neighborhoods

The impact is playing out in highly sought-after enclaves such as Rockwell Center in Makati and Ortigas Center in Pasig. Even top-tier condo developments—including the One Shangri-La Place towers—report rising inventory, with some two-bedroom units listed on property portals since March and now dropping below Php 13 million, roughly a million less than comparable 2023 trades.

"It's not just the outlying suburbs or smaller studio units struggling to sell," said a representative from local brokerage Ortigas Realty Partners during a sector forum at Greenhills Promenade. "We've seen luxury penthouses in Salcedo Village go unsold after four months on the market, forcing owners to rethink their pricing strategies." The trend is putting pressure on both private owners and major developers, with DMCI’s Tivoli Garden Residences in Mandaluyong also recording a ten percent uptick in lingering listings as of June.

Macro Pressures and Shifting Buyer Habits

Analysts point to several intertwined factors. Inflation has stayed stubbornly high in Metro Manila—peaking at 6.8% in May, according to the Bangko Sentral ng Pilipinas—squeezing household budgets and prompting many middle-income buyers to delay purchases. Meanwhile, foreign demand has not rebounded as robustly as expected, with tighter visa controls for Chinese nationals and a continued trickle of Japanese and South Korean buyers into districts like Legaspi Village and Bonifacio Global City. Transaction volumes from January to June 2026 are down nearly 11% from the same period last year, based on Manila Land Registration Authority filings made public last week.

Developers are responding with more flexible schemes. Ayala Land Premier’s Park Central Towers in Makati now advertises longer payment terms and reservation discounts, while Robinsons Land is promoting limited-time price reductions on select units along EDSA and within Pioneer area townships. Property analyst Daniel Dorado, who produces the monthly "Metro Manila Market Watch" newsletter, estimates the average days-on-market figure could exceed 90 in Q3 if buyer confidence fails to pick up post-election.

For prospective buyers, the message is clear: patience and negotiation are on your side right now. Agents report that serious offers below list—sometimes by 8-10%—are more likely to get countered rather than dismissed. For vendors, quick sales will require pricing in line with new market realities and a willingness to negotiate. As Manila enters the second half of 2026 under continued economic headwinds, all eyes will be on the coming "ber" months to see whether pent-up demand can shorten selling periods—or if the current buyer's market will solidify even further.