“It’s a major, major concern because LTS issuance is down to its lowest in about two decades and hopefully the government resolves this,” said Joey Bondoc, director and head of research at Colliers Philippines.
The property consultancy said projects covering just 38,000 residential units secured LTS approvals in the first half of 2026, an 82 percent decline from a year earlier.
Colliers said residential projects covered by LTS approvals averaged about 271,000 units annually between 2016 and 2025, making this year’s pace an unusually sharp slowdown.
Approval bottlenecks slow new projects
Colliers attributed the slowdown to the centralization of LTS approvals and incomplete documentary submissions.
Richard Raymundo, managing director at Colliers Philippines, said developers such as Rockwell Land continue to perform well outside Metro Manila, underscoring the need to speed up approvals so more projects can be launched where buyers remain active.
Provincial markets remain resilient
Colliers said the urgency is greatest outside Metro Manila, where several provincial markets continue to post robust demand.
Condominium projects also posted healthy take-up rates ranging from 82 percent to 91 percent across the same markets.
Metro Manila inventory remains elevated
While slower LTS approvals threaten future housing supply, the market continues to grapple with elevated inventory today. Metro Manila’s stock of unsold ready-for-occupancy condominium units rose to 32,600 in the second quarter from 27,900 in the previous quarter.
Colliers said the uneven market underscores the need to direct new housing supply toward areas where buyer demand remains strongest.
—Edited by Miguel R. Camus
