Growing demand for Metro dorms drives up condo vacancies

GROWING demand for dormitories in Metro Manila amid its unrelenting traffic woes could exacerbate the decline in the occupancy levels of high-end residential properties in the months ahead, a real estate analyst said.

In an interview on Thursday, Colliers International director for advisory services Julius Guevara told reporters that vacancies in high-end residential developments in the capital are expected to rise in the coming quarters, in part due to the continuing traffic woes in the metropolis.