DMCI Homes reports strong buyer interest amid condo oversupply

Despite reports of an oversupply in Metro Manila's condominium market, developer DMCI Homes is seeing renewed buyer interest, particularly in its ready-for-occupancy (RFO) units.

DMCI Homes President Alfredo Austria said the company recorded a nearly 70 percent increase in site trippings — or visits by potential buyers — from January to May this year, signaling a rebound in buyer activity despite affordability concerns and heightened market caution.

Site trippings rose to 6,741 in the first five months of 2025 from 4,039 during the same period last year.

"We’re regularly monitoring our sales every day, our site activities,” Austria said in a recent interview. “This year we’re happy to see that we have more site trippings — around 70 percent more than last year.”

Austria acknowledged that there is an oversupply of condo units, but clarified that it is concentrated in specific locations and market segments.

“It’s been all over the news that there seems to be an oversupply in Metro Manila at least. I agree that there is an oversupply, but the oversupply is only in certain sectors and certain locations. It’s not everywhere,” he said.

Austria added that buyers are now more cautious, taking time to compare offerings and evaluate long-term value — a shift he welcomed as it underscores the importance of quality and transparency in the market.

“A lot of people are still eager to buy, but I think affordability issues are out there and also because of the reported oversupply in condo units. Some of the end-users are being more careful, being more cautious, looking at several different properties,” he explained.

The company's RFO sales reflected this trend. From January to May 2025, RFO units accounted for 47 percent of DMCI Homes’ total sales, or 614 out of 1,305 condo units sold. That’s up significantly from 14 percent — or 363 RFO units sold — during the same period in 2024.

In terms of value, RFO sales reached ₱4.3 billion in the first five months of 2025, including units and parking slots, marking an 87 percent increase from ₱2.3 billion in the same period last year.

From January to May 2025, RFO units accounted for 47% of DMCI Homes’ total condominium sales of 1,305 units, a significant jump from 14% during the same period in 2024. The company sold 614 RFO units in the first five months of 2025, up from 363 units sold in the same timeframe last year.

Leading the sales were Allegra Garden Place in Pasig City and The Crestmont in Quezon City.

Allegra Garden Place recorded 139 RFO units sold from January to May 2025, up from 81 units during the same period last year. Turnover of its first tower, Amina, began in July 2024, with the second tower, Soraya, scheduled for turnover this July.

Meanwhile, The Crestmont sold 55 units in the same period, up from 34 last year. The project began unit turnover in December 2024.