"Origami Artists: Why Developers Looking for Growth Beyond Metro Manila

Here is the revised blog post:Origami Artists: Why Developers Looking for Growth Beyond Metro ManilaAs the real estate market in Metro Manila continues to grapple with a persistent supply glut of condominium units, developers are forced to reevaluate their strategies and seek new opportunities for growth. According to Colliers International, a leading global real estate consultancy, the unsold inventory has reached an astonishing 70 months' worth – equivalent to approximately six years.Confronting the ConsequencesThe consequences of this glut are far-reaching. In Metro Manila alone, an estimated 300,000 condominium units have been completed in recent years. While this may seem like a boon on the surface, it has led to a severe oversupply of condos, causing prices to plummet and leaving developers struggling to find buyers. The resulting decrease in property values makes it increasingly challenging for developers to recoup their investments.A Shift in PerspectiveIn response to this crisis, many developers are reassessing their strategies and looking beyond Metro Manila for growth opportunities. According to Colliers International, the demand for residential properties outside the metropolis is increasing rapidly, driven by factors such as: Migration: As more people seek better living conditions and opportunities beyond Metro Manila, cities like Cebu, Davao, and Baguio are becoming increasingly attractive. Economic Growth: Cities like Clark, Pampanga, and Batangas are experiencing rapid economic growth, driven by industries such as tourism, manufacturing, and logistics. Infrastructure Development: Governments are investing heavily in infrastructure projects, such as roads, bridges, and public transportation systems, making it easier for people to move around and access new areas.Lessons from OrigamiIn the world of origami, artists use paper folding techniques to create intricate designs. Similarly, developers looking for growth beyond Metro Manila must be prepared to fold in new strategies and adapt to changing market conditions. Here are a few lessons from the art of origami that can help: Audition: Just as an origami artist must audition different folds and shapes before creating their final design, developers should test the waters by exploring new markets and understanding local demand. Patience: Origami requires patience and attention to detail. Developers looking for growth beyond Metro Manila must be prepared to invest time and resources in understanding the local market and building relationships with potential buyers. Flexibility: The art of origami is all about flexibility – adjusting folds and shapes on the fly to achieve the desired result. Developers must be willing to adapt their strategies as the market evolves.A New HorizonIn conclusion, the supply glut in Metro Manila has forced developers to look beyond the metropolis for growth opportunities. By embracing new markets and adapting to changing conditions, they can turn a potential crisis into an opportunity for success. Whether you're a seasoned developer or just starting out, remember that origami artists know that sometimes it takes a little creativity and flexibility to create something truly beautiful.Key Highlights: Metro Manila Condominium units Supply glut Colliers International Real estate market Origami artists Growth opportunities Unsold inventory

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.