Manila Property Market Stretches Listing Times, Vendors Offer Bigger Discounts

Manila homes are taking longer to sell this year, with the average days on market now topping 85—a sharp increase from 59 days a year ago—according to June data compiled by the Philippine Property Portal. Vendors across the city are responding with deeper price cuts to move stubborn listings, particularly in high-density districts like Makati and emerging hot spots in Quezon City.

This trend comes as local buyers contend with tightening credit and an oversupply of new condominiums, factors that have taken the edge off the city’s post-pandemic property boom. The surge in listings, combined with buyers’ growing price sensitivity, is forcing sellers to reassess their approach—especially in areas where competition is most fierce and high-end units linger unsold.

Makati, Quezon City See Listing Glut

Real estate firms such as Santos & Partners and the brokerage unit of Ayala Land have noted the sluggish pace in their Makati office, particularly for pre-owned units along Ayala Avenue and in Salcedo Village. Meanwhile, developers in Quezon City’s EDSA corridor, especially along Scout Area and North Triangle, report similar slowdowns for mid-market apartments.

The impact is stark at the ground level. In the Jazz Residences complex in Bel-Air, multiple units that hit the market in February are still unsold as of last week. Over at Eastwood City, Rockwell Land’s local representative said the average time to match even aggressively priced units with buyers has doubled since late 2025.

Vendor Discounting Hits 7% Average

New figures from Lamudi Philippines show vendor discounting reached an average of 7 percent across Metro Manila in June, up from 4.5 percent in early 2025. In high-rise developments along Katipunan Avenue in Loyola Heights, some desperate sellers have been seen dropping list prices by as much as 12 percent to close deals, according to local agents interviewed this week.

The city’s median condo resale price is now at P5.3 million, down about 4 percent year-on-year by Point2 Homes figures, despite steady inbound remittances and record-breaking OFW cash inflows. The lagging sales pace is keenly felt in districts like Taft Avenue, where student-led demand evaporated during the pandemic and has yet to recover fully, compounding owner distress in older towers like University Tower Malate.

Looking ahead, agents anticipate more negotiability in the market through the end of Q3. Prospective buyers are encouraged to do their homework, stick to their valuation limits, and be patient. Sellers in saturated corridors may need to trim price expectations further—especially for units that have lingered unsold since early 2026. Developers and vendors hoping for a quick sale will need to get even more realistic on pricing, as Manila’s pandemic-era property exuberance gives way to tougher negotiating and longer listing times across the city’s most competitive postcodes.