CEBU CITY-The reported increase in condominium buyer cancellations in Metro Manila underscores the need for greater transparency in property market data, with real estate industry players urged to distinguish financing-related backouts from other transaction failures and units that eventually find new buyers, according to a real estate expert.
Anthony Leuterio, president of the Association of Real Estate Brokers of the Philippines (Abrep) and founder of Filipino Homes, said reported cancellation figures should be accompanied by a clear methodology and detailed transaction breakdown to help stakeholders assess the actual condition of the residential property market.
Leuterio questioned whether the reported 9,000 condominium cancellations during the first nine months of 2026 accurately represented the extent of financing difficulties among buyers, saying the figures needed further examination before being treated as an indicator of market weakness.
He called for disclosure of the total transactions covered, the study period, and the developers and financial institutions included in the data.
The call comes as Colliers Philippines’ second-quarter 2026 survey points to mounting pressure in Metro Manila’s mid-income condominium segment, where buyer cancellations have increased even as developers introduce more flexible payment arrangements to stimulate demand.
In its October 14 survey report, Colliers noted that cancellations in the lower and upper mid-income segments, covering condominium units priced between P3.6 million and P12 million, began rising again in the first half of 2026, particularly among projects that had recently been completed or were approaching turnover.
The property consultancy also reported approximately 9,260 unsold ready-for-occupancy condominium units priced between P3.6 million and P5 million in Metro Manila as of the second quarter.
Quezon City’s northern and southern areas accounted for the largest share of this inventory, with 3,020 units, followed by Parañaque with 1,580 and Pasay City with 1,410. Pasig had 900 unsold units in the same price bracket.
The figures highlight the affordability challenge facing developers and prospective homeowners, particularly as buyers transition from initial installment arrangements to financing requirements closer to unit turnover.
Colliers said the lower mid-income segment, defined as units priced between P3.6 million and P7 million, accounted for nearly half of Metro Manila’s unsold ready-for-occupancy condominium inventory.
Developers have responded with larger discounts, longer payment periods and rent-to-own arrangements. However, sustaining buyer take-up remains a challenge as demand in the segment continues to depend heavily on promotional offers and extended payment terms.
For Leuterio, the circumstances behind each cancellation must be examined rather than automatically attributing failed transactions to buyers, banks or prevailing market conditions.
He said financing difficulties could stem from temporary unemployment, changes in employment status, incomplete documentation or problems verifying income earned overseas.
These circumstances do not necessarily mean that buyers are permanently disqualified from obtaining housing loans, as some may still secure financing through alternative banks or updated documentation.
He also cautioned against treating every cancelled purchase as a permanent loss for developers, pointing out that some units could be resold to other buyers.
A developer, for example, could initially record 200 cancelled transactions but subsequently resell 150 of the affected units. While the cancellations remain part of its transaction history, the actual effect on unsold inventory would be considerably different.
Leuterio said industry reporting should therefore separately account for initial cancellations, those specifically caused by loan disapprovals, units subsequently resold and properties that remain unsold.
He also urged developers and real estate professionals to assess whether buyers received sufficient assistance in preparing loan applications and exploring alternative financing arrangements before transactions collapsed.
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‘If the figure is accurate, let us see the supporting data, the methodology, and the breakdown,’ Leuterio said in a statement.
Restoring confidence
Meanwhile, Colliers’ survey offers further indications of what could help restore buyer confidence.
Sixty-one percent of respondents identified extended and flexible payment terms as the most attractive promotional offer when purchasing a condominium unit in Metro Manila.
Another 18 percent favored the removal of spot downpayments, while 12 percent preferred early move-in arrangements.
The survey also found that all respondents considered green and sustainable features relevant when purchasing residential properties.
Nearly 40 percent regarded these features as important factors in their buying decisions, while 31 percent said they were essential.
Colliers recommended that developers revisit payment schemes and consider more innovative approaches to improve affordability, particularly in the mid-income segment.
It also identified a possible increase in the value-added tax exemption ceiling as a measure that could help reduce inventory and ease the burden of elevated interest and mortgage rates.
For Leuterio, transparent reporting and a closer examination of individual transactions are essential to ensuring that market assessments reflect actual conditions rather than isolated figures.
He said evidence-based discussions would help protect buyers’ access to reliable property information while sustaining confidence in the Philippine real estate industry.