Condominium Rental Rates Decline as Supply Jumps Following POGO Exit
Manila: The oversupply of residential condominium units, due in part to the exit of Philippine Offshore Gaming Operators (POGOs), has brought down gains from rental properties. According to Philippines News Agency, Roy Golez, Leechiu Property Consultants director for research and consultancy, said a decline in rental rates against pre-pandemic levels is most prevalent in the Manila Bay area, which includes Para±aque and Pasay cities. Citing the third quarter 2025 Philippine Property Market Report during a briefing in Makati City Monday, Golez noted that the average rent per square meter declined by 52 percent in the bay area compared to the