Cebu realtors cry over declining sales reports

A national association of real estate brokers has called for greater data transparency regarding reported condominium purchase cancellations and urged professional rental management, pushing back against industry warnings of severe market oversupply and collapsing rental rates.

Anthony Leuterio, president of the Association of Real Estate Brokers of the Philippines Movement, said reported buyer backouts and projections of steep rental declines must be weighed against verified market data rather than broad generalizations that overlook financing structures, location differences and management practices.

Leuterio pointed to a report quoting Colliers Philippines Research director Joey Roi Bondoc, which stated that 9,000 condominium purchases in Metro Manila were canceled during the first nine months of 2026 due to buyers failing to secure bank financing or settle outstanding balances.

According to Colliers, 5,200 of the canceled units were still under construction while 3,800 were ready for occupancy, with Pasig City recording the highest concentration of backouts.

While acknowledging the report, Leuterio said the headline figure requires clear methodology and a detailed breakdown — including the developers and banks involved, the exact study period, and specific reasons behind the defaults.

He cited that industry analysts should distinguish between outright loan disapprovals and temporary setbacks such as job transitions, documentation delays, or challenges in verifying overseas income.

“Some buyers may still qualify for financing through alternative banks or updated documentation,” Leuterio said.

He also cautioned against classifying every canceled transaction as a permanent loss for property developers, noting that repossessed or canceled units frequently reenter the market and sell.