OFW remittances, rate cuts may lift housing demand — Colliers

METRO MANILA'S residential market is projected to see tempered launches of mid-income condominiums over the next three years, although anticipated interest rate cuts and steady inflows of remittances from overseas Filipino workers (OFWs) could help support demand for the segment, according to Colliers Philippines.

- By Beatriz Marie D. Cruz Reporter

"Colliers is optimistic that further interest rate cuts and sustained remittances from Filipinos working abroad should partly lift the demand for mid-income projects," Colliers said in its First Quarter Metro Manila Residential Report.

Pre-selling launches in the first quarter reached around 5,300 units, marking the highest quarterly level since the third quarter of 2023, Colliers said.

Among the notable projects launched during the period were Avida Land's Avida Towers Makati Southpoint Tower 3 in Makati; 8990 Holdings, Inc.'s Urban Deca Tondo - Bldg. 7 in Tondo; and Shang Robinsons Properties' Haraya Residences - North Residences in Bridgetowne, Pasig.

Despite the higher volume of launches, net take-up reached only 87 pre-selling units during the period, Colliers said.