The Philippine developers' condo pre-selling system is about to hit a wall

The Philippine developers' condo pre-selling system is about to hit a wall

Basically, there are 7 types of condo buyers in the Philippines

1) POGO people

2) Corrupt people

3) Ordinary people who buy with a 10% down payment and 0% interest for up to 5 years, then have to pay the full balance later

4) Chinese people

5) Foreign residents (expats)

7) Afam

1) POGOs are illegal now, so they've all left, and the demand for condos and offices went away with them

2) Corrupt people don't buy anymore because too many people are watching them now

3) Ordinary people can't buy anymore. They can't resell, and they can't pay the full balance after 5 years (this has already blown up 9,000 times in 2026 alone)

4) The Chinese are lying low because China's property market has its own problems, and they don't have spare cash to pour into Philippine condos anymore

5) Expats are smart, so they're sitting on the sidelines for now

7) Afam used to be easy prey for condo sellers, but now they read the news too and mostly sit on the sidelines

With condo values and rents falling, people in the 5-year down payment period are now trapped. They can't resell, and they can't raise cash or get a bank loan

A storm is coming

As everyone knows, developers have effectively inflated condo prices all along, and that works fine until the chain of buyers breaks. That's exactly what we're seeing now.

Even though developers are now offering cash buyers 40% off, I don't see a single reason to buy right now