"COLLIER Philippines" recently stated that the vacancy rate in the condominiums of Metro Manila is slowly increasing, partly because some Chinese are starting to move out of their apartments, following the Philippine government's comprehensive ban on POGOs.
In the third-quarter market report published on October 29, COLLIER Philippines mentioned that the vacancy rate increased from 17.2% to 17.4% during July to September, especially in the Manila Bay area.
The report said: "The vacancy rate in the secondary residential market of Metro Manila is likely to continue rising until 2025, due to the substantial new housing supply and the impact of the POGO exodus."
COLLIER Philippines expects the vacancy rate to reach 17.7% by the end of this year.
