Updated 12 October 2026. A pre-selling condo in Manila, meaning the City of Manila and not all of Metro Manila, is today almost always a studio-led tower in Malate or the University Belt. On developer websites checked on 12 October 2026, we verified seven: two from Torre Lorenzo and five from Vista Residences. None publishes a price or a turnover year; any figure online comes from a broker ad or a portal. And they are selling into a buyer's market: Colliers projects a record 25.6% Metro Manila residential vacancy by end-2026, so negotiate and get every promise in writing.
Pre-selling condo in Manila: City of Manila vs Metro Manila
A pre-selling unit is one you reserve and pay for in installments before the tower is finished. This guide covers only the City of Manila: about 1.9 million people on 42.34 sq km (2024 census). A project in BGC, Makati, Pasig or Pasay is not "in Manila", whatever a portal headline says. For NCR-wide options, see our guide to pre-selling condos across Metro Manila in 2027.
Which districts count
Sampaloc is the University Belt core, with about 398,400 residents on 5.14 sq km. Malate and Ermita hold the Taft Avenue schools, the bayfront and the Rizal Park heritage zone. Sta. Mesa, home to PUP, is largely built out, and Binondo, Sta. Cruz and Tondo had no verified new launch. For barangay and commute notes, read our Manila area guide.
The 2026-2027 market in plain numbers
The City of Manila sits inside a Metro Manila glut of finished, unsold units, so you can negotiate payment terms, parking and fees.
| Indicator (Metro Manila) | Figure | Source |
|---|---|---|
| Residential vacancy, end-2026 forecast | 25.6%, a record; easing from 2027 as completions slow | Colliers Q2 2026 report, Aug 2026 |
| Unsold condo inventory | About 80,000 units in Q3 2026, down from a record 82,900 in Q2 | Leechiu via Philstar, Oct 2026 |
| Take-up | 8,454 units in Q3 2026, up 17% on Q2 | Leechiu, Oct 2026 |
| Unsold ready-for-occupancy (RFO) units | 32,600 in Q2 2026, up from 27,900 in Q1 | Colliers, Jul 2026 |
| Where unsold stock sits by price | About two-thirds at ₱4M to ₱12M | Leechiu, Oct 2026 |
| New projects cleared for sale | License to Sell approvals for 38,000 units nationwide in H1 2026, down 82% | Colliers, Jul 2026 |
| Market bottom (one analyst's view) | 2027, possibly 2028 | Bertalan Feher via Gulf News, Aug 2026 |
Leechiu says the Q3 pickup is not yet sustained growth. Colliers adds that Quezon City, Manila, Pasay-Parañaque and Pasig hold most unsold RFO units, while new pre-selling supply is concentrated in Taguig and Pasay (February 2026). Slow sales strain developer cash flow, so a record of finished towers matters more than usual.
Rates: BSP policy rate and Pag-IBIG promo
As of 12 October 2026, the BSP policy rate is 5.00% after hikes on 23 April, 18 June and 27 August, and the Monetary Board meets again on 22 October, then 17 December. Pag-IBIG's promo, open to applications until 31 December 2026, fixes 4.5% for three years on loans above the socialized ceiling (₱1.8M for condos) up to ₱4.9M, and 5.75% above ₱4.9M up to ₱10M (Pag-IBIG statements, July to September 2026; Philstar, 10 July 2026).
Pre-selling condos in the City of Manila right now (checked 12 Oct 2026)
Each project below is listed as pre-selling on its developer's website as of 12 October 2026. None shows a price or a turnover year, hence the blunt last column.
| Project | Developer | Location | Building and units | Turnover and price |
|---|---|---|---|---|
| Quinta Torre Lorenzo | Torre Lorenzo | Leon Guinto St., Malate | 46 floors; studios 18, 21 and 24 sqm; 1BR 36 sqm | Not published; get the date in writing |
| Vertica Torre Lorenzo | Torre Lorenzo | Sampaloc (U-Belt) | Studios 18 to 24 sqm; 1BR 33 sqm | Not published |
| Kizuna Heights | Vista Residences with Mitsubishi Estate | 2661 Taft Ave., Malate | Studio and 1BR | Not published |
| Sky Arts Manila | Vista Residences | Gen. Malvar cor. Guerrero and Vasquez Sts., Malate | Two 45-storey towers; 21 sqm studios, 1BR, 2BR | Not published; third-party pages show Dec 2025, Q4 2027 and 2029 |
| Plumeria Heights | Vista Residences | 2128 Taft Ave., by LRT-1 Quirino | Sizes not listed | Not published; old ads show Q1 2025 |
| Bradbury Heights | Vista Residences | A. Mendoza St. cor. Laong Laan Rd., Sampaloc | Sizes not listed | Not published; old ads show Q4 2024 |
| Kinsan Heights | Vista Residences | Lacson Ave. | 44 storeys; studio 22 sqm, Studio Flexi 29 sqm, 1BR Flexi 49 sqm | Not published; listed as both pre-selling and RFO, so confirm |
Sampaloc and the University Belt
Torre Lorenzo puts Vertica 350 m from National University, 650 m from UE, 900 m from FEU and 1 km from UST. Bradbury Heights targets the same UST, FEU, UE and CEU crowd, and Kinsan Heights adds a 44-storey option on Lacson Avenue.
Malate and Taft Avenue
Quinta, Torre Lorenzo's fifth Malate development, targets De La Salle, Benilde and St. Scholastica's students and has a 25-meter lap pool on its 7th-floor amenity deck. Kizuna Heights, Plumeria Heights and Sky Arts Manila give Vista three options in Malate and along Taft.
Built, sold out or unverified
- DMCI Homes: per DMCI project directories, its four Manila towers, including Torre de Manila, are completed and sold out.
- Covent Garden (Empire East), Sta. Mesa: shown 100% complete as of 31 October 2025, so it is RFO and resale stock, whatever old "turnover 2025" ads say.
- San Lazaro Residences, Sta. Cruz: government socialized rental housing inaugurated in November 2025, not for sale.
- Binondo and Tondo: Anchor Land markets towers here, but we could not verify sales status.
Stale-listing warning. One directory still lists 23 "pre-selling" Manila projects under a 2017-2018 copyright, and Sky Arts shows three turnover dates depending on the site. Treat a date found only in a broker's ad as unconfirmed until it is in your contract.
How much does a pre-selling condo in Manila cost?
Developers do not say online, so budget from market data and get a written price list before paying anything.
- Where the discounts are: about two-thirds of unsold Metro Manila condos sit at ₱4M to ₱12M (Leechiu, Q3 2026), where developers have the most stock to move, while demand has shifted toward economic and affordable units (Colliers).
- Portal snapshot (12 Oct 2026): visible Manila listings on Dot Property ran from ₱2.05M (a 2BR at Covent Garden) to ₱10.37M, roughly ₱42,531 to ₱237,288 per sqm. These are asking prices on a small sample, not averages.
Costs beyond the sticker price
Expect a reservation fee (often non-refundable), a down payment spread over monthly installments during construction, and the balance at turnover through a bank or Pag-IBIG. Add transfer taxes, move-in fees, dues and parking, which is almost always sold separately. Then test your monthly payment in our loan calculator at Pag-IBIG's 5.75% and at your bank's quote.
What to ask for in the price list
- Total contract price, with and without VAT.
- Reservation fee, down payment and monthly schedule.
- Turnover date and grace period, in writing.
- License to Sell number for this tower.
- Parking, dues and move-in fees.
Pre-selling vs RFO condo in Manila
Colliers reported in October 2025 that Manila's share of remaining Metro Manila RFO units fell from 22% in Q1 2025 to 14% in Q3 2025, as developers offered spot-cash discounts as high as 60% plus lease-to-own and extended terms. That is what a Manila pre-selling studio competes with: a finished unit nearby, often discounted.
| Factor | Pre-selling condo in Manila | RFO condo in Manila |
|---|---|---|
| Move in or rent out | Years away; date not published | Immediately |
| Cash flow | Small installments during construction | Full down payment and loan from day one |
| Negotiation room | Terms, fees, parking | Spot-cash discounts as high as 60% (Oct 2025) |
| Delivery risk | Real; covered by PD 957 and the Maceda Law | None; inspect the unit first |
| Best for | A multi-year wait (developers quote 3 to 5 years; plan for longer), no urgency | A home or a rental within 12 months |
Pre-selling still makes sense if the developer has delivered in the same district and the total price beats a comparable RFO unit after discounts. Vista Residences alone lists seven ready-for-occupancy towers in the City. Compare price per sqm on our condos for sale in Manila page and in our RFO vs pre-selling condo comparison for 2027.
U-Belt student rental and yield: how to check the math
Most pre-selling pitches in the City rest on one promise: students will always need a bed near campus. Underwrite it yourself.
Demand comes from the U-Belt schools (UST, FEU, NU, UE, CEU, San Beda, PUP) and the Taft corridor (De La Salle, Benilde, UP Manila, Adamson). Torre Lorenzo calls the University Belt "the most resilient rental market in the country" but cites no data, so weigh that against Colliers' 25.6% vacancy forecast.
A simple yield worksheet (illustration, not a promise)
Gross yield is monthly rent times 12, divided by the total contract price. Every number below is an assumption.
| Line | Illustrative figure |
|---|---|
| Contract price (assumed) | ₱3,000,000 |
| Monthly rent (assumed) | ₱15,000 |
| Gross annual rent | ₱180,000 (6.0% gross yield) |
| Less one month of vacancy, dues (₱2,000 a month), repairs and property tax | ₱57,000 |
| Net before income tax and loan interest | ₱123,000 (4.1% net yield) |
Dot Property asking rents on 12 October 2026 for studios and 1BRs in Malate and Sta. Mesa ran about ₱21,000 to ₱36,400 a month, mostly for older units of 23 to 52 sqm, larger than the new studios. Use a broker's quote for a comparable unit.
Risks: most live projects are studio-led, so you compete with many near-identical units; student leases follow the academic calendar, so budget for summer vacancy; and cheaper dorms and bedspaces cap what you can charge.
Heritage and flood checks before you reserve
The Torre de Manila lesson
DMCI Homes' 46-floor Torre de Manila in Ermita was accused of spoiling the Rizal Monument's sightline. The NCCA issued a cease-and-desist order in January 2015, the Supreme Court halted construction on 16 June 2015, and only on 25 April 2017 did it vote 9-6 to dismiss the petition, finding no law that barred the tower. Near Rizal Park, Intramuros or other heritage zones, ask how the permits handled heritage review.
Flood checks with HazardHunterPH
The City's listed elevation is about 9 meters and parts of the bayfront sit on reclaimed land, so never accept a "flood-free" claim on faith. Run the exact address through HazardHunterPH, the free DOST-PHIVOLCS tool for seismic, volcanic and hydrometeorological hazards, then visit after heavy rain and ask about pumps, generator backup and where the parking sits.
How to verify a Manila developer before paying
Pre-selling means paying for a promise, so check the paperwork before you pay a reservation fee.
License to Sell and PD 957
Under Presidential Decree 957, a developer needs a License to Sell, backed by a performance bond, before selling any unit, and promises in its ads count as warranties. If it fails to build as approved and on schedule, you may stop paying after due notice and claim a refund of everything paid, with interest. Verify the License to Sell for the specific tower with DHSUD, which took over HLURB's regulatory functions.
Maceda Law: if you cannot keep paying
The Maceda Law (Republic Act 6552) covers residential condo installment sales. Under two years of payments, you get at least 60 days of grace. After two years, you get one month of grace per year paid (usable once every five years) and, on cancellation, a cash surrender value of 50% of everything paid, rising 5% a year after year five, capped at 90%. Cancellation takes effect only 30 days after notarial notice, and down payments and deposits count toward the two years.
Red flags: a turnover year found only in a broker's ad, "guaranteed rental income" with no lease behind it, and pressure to pay before you have seen the License to Sell.
Financing a pre-selling condo in Manila
Pag-IBIG take-out and the promo window
Over 30 years, the Pag-IBIG promo works out to about ₱12,667 a month for ₱2.5M at 4.5% and about ₱58,357 for ₱10M at 5.75%. A pre-selling unit's balance is usually financed only at turnover, years away, when the promo may have closed, so budget at a standard rate too. Our Pag-IBIG housing loan guide for 2027 covers eligibility.
Bank loans, OFWs and foreign buyers
With the policy rate at 5.00% and another hike possible, ask every bank for the rate after the fixed term. OFWs can reserve through a special power of attorney and should ask for video tours of the site and show unit. Foreign nationals can buy a unit while foreign ownership in the project stays within 40% under the Condominium Act (RA 4726).
Pag-IBIG acquired assets
Pag-IBIG also sells foreclosed properties by public auction and negotiated sale. Check our Pag-IBIG foreclosed properties listings, and budget for repairs, because units are sold as-is.
Is a pre-selling condo in Manila right for you? A 7-point checklist
- A written price list that beats comparable RFO units after discounts.
- A turnover date in a developer document, with a grace period.
- A License to Sell verified with DHSUD.
- The address run through HazardHunterPH and visited after rain.
- Amortization tested at 5.75% and at a bank's post-fixing rate.
- Your Maceda Law exit understood.
- A rental plan built on a verified rent, not a brochure yield.
Tick all seven and a pre-selling unit in the City can work, especially as a student rental near a campus you know. Tick fewer, and a discounted RFO unit is probably the smarter buy in 2026-2027. Either way, browse pre-selling condos in Metro Manila on sabahay.ph, where each listing shows its city.
Checked 12 October 2026.
Frequently Asked Questions
What is the difference between a pre-selling condo in Manila and one in Metro Manila?
The City of Manila is one city of about 1.9 million people (2024 census), covering Sampaloc, Malate, Ermita, Sta. Mesa, Binondo, Sta. Cruz and Tondo. Metro Manila is the whole region, including Makati, Taguig (BGC), Pasig, Quezon City and Pasay. Check the street address before comparing prices.
Which pre-selling condos are available in the City of Manila?
Developer sites checked on 12 October 2026 list seven: Quinta Torre Lorenzo (Malate) and Vertica Torre Lorenzo (Sampaloc), both with studios from 18 sqm, plus Vista Residences' Kizuna Heights, Sky Arts Manila, Plumeria Heights, Bradbury Heights and Kinsan Heights. None publishes prices or turnover years, so confirm both directly.
Is now a good time to buy a pre-selling condo in Manila (2026-2027)?
It is a buyer's market. Colliers projects a record 25.6% Metro Manila residential vacancy by end-2026, easing from 2027, and Leechiu counted about 80,000 unsold condos in Q3 2026. Negotiate terms, verify the License to Sell and do not count on fast appreciation.
How much does a pre-selling condo in Manila cost?
Torre Lorenzo and Vista Residences publish no prices online, so ask for the price list. For context, visible Manila listings on Dot Property on 12 October 2026 asked roughly ₱42,531 to ₱237,288 per sqm, and Leechiu says two-thirds of unsold Metro Manila stock sits at ₱4M to ₱12M. Add fees, taxes, dues and parking.
Is pre-selling cheaper than a ready-for-occupancy (RFO) condo in Manila?
Not necessarily. Colliers reported in October 2025 that developers were offering spot-cash discounts as high as 60% on RFO units, and Metro Manila still had 32,600 unsold RFO units in Q2 2026. Pre-selling spreads payments but adds a multi-year wait and delivery risk, so compare total cost.
Are University Belt condos good for rental income?
The student base around UST, FEU, NU, UE and the Taft schools is large, but Torre Lorenzo's claim that it is the country's most resilient rental market cites no data. Compute gross yield as monthly rent times 12, divided by the contract price, then deduct vacancy, dues, furnishing and tax.
What protections do I have if I buy a pre-selling condo in Manila and cannot keep paying?
Verify the DHSUD License to Sell before paying. Under the Maceda Law (RA 6552), after two years of installments you get one month of grace per year paid and, on cancellation, a 50% cash surrender value, rising 5% a year after year five up to 90%. Under two years, you get at least 60 days of grace.
