DMCI Homes expects more robust buyer engagement

MANILA, Philippines — DMCI Homes, the Consunji Group’s property development arm, said it continues to see strong buyer engagement and interest in its residential developments amid challenges, including the oversupply in Metro Manila’s condominium market.

DMCI Homes president Alfredo Austria said site client visits to project sites or “trippings” have surged by about 70 percent this year, reflecting strong buyer interest. 

From 4,039 recorded site trippings from January to May 2024, the number has increased to 6,741 in the same period this year.

“We’re regularly monitoring our sales every day, our site activities, trippings. In fact, this year we’re happy to see that we have more site trippings from customers. Around 70 percent more than last year,” Austria said.

Austria said the issue of oversupply, while present, is limited to certain areas.

He said that interest in condominiums remains strong, but many buyers are simply being more careful before making a decision.

“A lot of people are still eager to buy, but I think affordability issues are out there and also because of the reported oversupply in condo units. Some of the end-users are being more careful, being more cautious, looking at several different properties,” Austria said. 

DMCI Homes is seeing the shift in buyer behavior to a more discerning market that prioritizes quality and long-term value as a welcome development.

Austria said there are currently a lot of ready-for-occupancy (RFO) units where buyers can see for themselves the quality and value that each developer is offering.

“I think that is good for us because we’ve been focusing on improving quality and value for the customer. As we’ve seen in our recently completed projects, the sales have gone up when they were completed because we’re able to bring in the customers and see for themselves the quality and value that we are offering,” he said.