In a bold push to clear out ready-for-occupancy (RFO) inventory, Metro Manila's condo developers are offering jaw-dropping incentives — from deep price cuts to shopping vouchers worth as much as ₱150,000 (US$2,570). The goal? Move units quickly in a market still grappling with high vacancy rates.

According to real estate consultancy Colliers Philippines, the number of RFO units in Metro Manila dropped to around 30,500 in Q2 2026 — a sign that these aggressive sales campaigns may finally be gaining traction.

“We’ve never seen this level of promotional activity,” said Colliers Philippines Managing Director Richard Raymundo in an interview with business news outlet Bilyonaryo. “Before, you’d see 10% discounts. Now it’s 45% to 50%, with flexible payment terms and more.”

The current buyer incentives are unprecedented:

• 45–50% off on select units • VAT and downpayment waivers • Rent-to-own schemes • Fully furnished, move-in-ready condos • Gift certificates worth ₱100,000 to ₱150,000

These perks are helping revive demand. Cancellation rates are down, and property take-up is rising, suggesting that hesitant buyers are finally ready to act.

Still, the market isn’t out of the woods. Vacancies in the secondary residential condo segment remain high — at 25% — and could rise further to 25.8% by the end of 2026, up from 23.9% last year. This is mainly due to a surge in project completions adding pressure to an already saturated market.

But not all locations are facing the same challenge.

Business hubs like Bonifacio Global City (BGC), Makati CBD, and Ortigas Center continue to show strong buyer interest, while the Bay Area is experiencing deeper struggles — nearly 50% of its units are currently unoccupied.

Joey Roi Bondoc, Research Director at Colliers Philippines, remains cautiously optimistic about the long-term outlook. “We expect the vacancy rate to begin easing by 2026 as developers slow down new launches and focus on selling existing inventory,” he said.

In a related trend, international property media, including Gulf News, have noted that overseas Filipino workers (OFWs), along with young urban professionals, are leading the charge — taking advantage of flexible payment options and reduced mortgage rates.

In short, buyers now have more leverage than ever before. Whether it’s a dream condo in BGC or a waterfront unit in the Bay Area, the current market is offering deals that may not last.

If you’ve been eyeing a property in Metro Manila, now could be the time to make your move — and possibly enjoy a ₱150,000 shopping bonus while you’re at it.