Soft market conditions continued through the second quarter of 2026

• In the subdued market environment, sales activity continued to be dominated by end-user purchases of completed and ready-to-occupy inventory. However, uncompleted units in prime locations also attracted buyers.
• Purchasers continue exercising caution, postponing decisions until the market recovers. Buyer confidence has also been weakened by competition from landed homes, which local buyers find more desirable than high-rise units.

The upper-luxury segment recorded no new launches this quarter

• The lack of new launches has diminished uncompleted project inventory, with the nearest scheduled completion not expected until 2028. Completed and ready-to-occupy units currently dominate market supply.
• The absence of new condominium launches this quarter reflects developers’ cautious stance, with high-rise projects postponed due to soft demand.

Condominium prices remained largely unchanged

• Condominium prices remained largely flat in the second quarter of 2026 amid weak demand, with luxury segments experiencing modest appreciation.
• In response to soft demand, developers have opted for incentive-based strategies, deploying discounts and promotional packages instead of pursuing price increases.

Outlook: No upper-luxury condominiums are scheduled for development in 2026

• Upper-luxury condominium launches will likely remain scarce throughout 2026 in response to weak buyer appetite. Meanwhile, no upper-luxury completions are scheduled for 2026.
• A modest price increase is anticipated when market sentiment improves and buyer confidence returns.