Philippine brokers seek data behind reported condo cancellations
ABREP Movement says cancelled purchases should not automatically count as permanent losses, as some units are subsequently resold.
A Philippine property brokers’ group has requested evidence behind a report citing Colliers Philippines that 9,000 condominium purchases were cancelled in Metro Manila during the first nine months of 2026.
Anthony Leuterio, president of the Association of Real Estate Brokers of the Philippines (ABREP) Movement, called for the underlying data, calculation methods and a detailed breakdown. The group said cancellations do not necessarily represent lasting losses because many units are later sold to other buyers.
Leuterio said the industry should distinguish cancellations from defaults linked to loans, properties subsequently resold and units that remain available. He also asked developers and brokers to assess whether purchasers had received adequate help applying for loans and exploring financing alternatives.
Responding to a forecast of lower condominium rents in Metro Manila, ABREP Movement urged landlords to consider pricing, marketing and professional management instead of treating sharp rental cuts as unavoidable.
S&P Global Ratings said surplus condominium supply, higher costs and costly borrowing continued to limit Philippine housing demand. It said a recovery would depend in part on macroeconomic pressures easing, after those pressures weakened purchasing capacity and slowed sales of available homes.
Metro Manila had a record 82,900 unsold condominium units as of July. Separately, Leechiu Property Consultants reported that developers introduced 4,900 units during the first half of 2026, an increase of 18 per cent from a year earlier.
