An Economic Anatomy of Owning a Condo in Metro Manila

Owning a condo in Metro Manila is marketed as a symbol of financial triumph — effortless passive income, tenants paying your mortgage for you. The reality is a market defined by eroding margins, extreme oversupply, and buyers who are subsidizing the bank instead of building wealth. This video breaks down the real economics: the mandatory 12% VAT and closing costs never featured in glossy brochures, why the cash flow runs in reverse for most owners, and why a market with 26% vacancy and an 8.2-year supply glut has turned developer promos into a double-edged sword for existing owners. If your rental yield doesn't beat your mortgage rate by at least 2%, you're not an investor — you're a subsidized tenant for the bank.