Condo rents to drop as supply expands

COLLIERS International expects rents to decline by 1 percent to 3 percent in the next few months until 2020, depressed by market competition as alternative locations become viable for condominium projects.

Lack of land to develop in Central Business Districts (CBDs) across Metro Manila has pushed developers to launch projects outside CBDs. In fact, almost 86 percent of the 28 buildings launched for sale in the first half of the year may be found in alternative locations such as San Juan, Parañaque, Pasig, Fairview, Las Piñas, and South Manila.