Pre-selling almost always costs more than a ready-for-occupancy unit of the same size — roughly 7.5% more per square metre across DMCI's current price list. It only feels cheaper because the downpayment is stretched over more months, which lowers the monthly figure without lowering the price. RFO units carry flexible terms too; they're simply compressed into a shorter window. Compare total contract price and price per square metre, never the monthly.
Ask almost any condo buyer in Metro Manila why they're looking at pre-selling and you'll get a version of the same answer: "Mas mura kasi." It's cheaper.
It usually isn't. And the reason that belief survives is one of the most effective pieces of design in Philippine real estate — not a lie, not fine print, just a number placed where your eye lands first.
I pulled the entire DMCI price list I work from as of September 1, 2026 — 7,593 live units across 49 properties — and ran the comparison properly. Here is what the numbers actually say.
The Illusion, in One Table
Three real 2-bedroom units, all DMCI, all on the current price list. Look at the monthly column first, the way a buyer does.
| Unit | Status | Monthly DP | Net price | Per sqm |
|---|---|---|---|---|
| The Oriana · 60.0 sqm | Move in now | ₱30,493 | ₱8,381,340 | ₱139,689 |
| The Erin Heights · 59.0 sqm | Turnover Oct 2027 | ₱28,823 | ₱8,897,000 | ₱150,797 |
| The Valeron Tower · 65.5 sqm | Turnover Jul 2029 | ₱30,081 | ₱11,781,000 | ₱179,863 |
Figures computed from DMCI's September 2026 price list and current published payment terms, net of applicable discounts, after deducting the ₱30,000 reservation fee. Median unit of each project's 2BR inventory. The Oriana is on a 32-month downpayment term; Erin Heights 36 months; The Valeron Tower 46 months.
Every monthly figure sits within about ₱1,700 of the others. Two of the three are lower than the ready unit. A buyer scanning that column concludes the pre-selling units are the affordable ones.
The Valeron unit's downpayment is ₱412 a month cheaper than the Oriana unit you could move into this week. It is also ₱3,399,660 more expensive, and you wait 35 months to hold the keys.
That is the entire mechanism. Nothing is hidden. The monthly payment is simply not a measure of what something costs — it's a measure of how long you've agreed to pay.
Why the Monthly Goes Down While the Price Goes Up
A DMCI downpayment is a percentage of the unit price — commonly 12%, 15% or 20% — spread across a fixed number of months before turnover. The longer the runway, the smaller each slice.
A pre-selling tower turning over in 2029 can spread that downpayment across 46 months. A finished building has no construction runway left, so the same 12% is compressed into 32. Divide a bigger number by a bigger divisor and you can easily land on a smaller monthly than the cheaper unit produces. That's arithmetic, not a discount.
The monthly payment answers "can I carry this?" It does not answer "is this a good price?" Those are two different questions, and buyers routinely use the first to answer the second.
There's a second, sharper version of this. At Erin Heights you can choose a 32-month term that carries a 1% discount, or a 36-month term that carries none. The 36-month option lowers your monthly by ₱3,270 — and costs you ₱88,970 in forfeited discount. The option that looks cheaper every month is the one that's more expensive in total.
What the Whole Price List Says
The three units above aren't cherry-picked. Across all 7,593 units on the list, sorted by whether they're finished or still being built:
| Inventory | Units | Median price per sqm |
|---|---|---|
| Ready for occupancy | 1,750 | ₱161,405 |
| Pre-selling | 5,843 | ₱173,496 |
| Difference | — | +7.5% |
DMCI live inventory, September 1, 2026. "Ready for occupancy" = turnover date already passed.
Sort the 2-bedroom inventory by price per square metre and the pattern gets harder to argue with — the finished buildings cluster at the bottom, the far-out pre-selling towers at the top:
| Project | Turnover | Median 2BR | Per sqm |
|---|---|---|---|
| Sonora Garden Residences | Ready | ₱7,323,000 | ₱129,500 |
| The Oriana | Ready | ₱8,466,000 | ₱140,495 |
| The Erin Heights | 2027 | ₱8,897,000 | ₱148,970 |
| Kalea Heights | 2029 | ₱9,051,000 | ₱152,479 |
| Allegra Garden Place | Ready | ₱9,346,500 | ₱161,167 |
| The Calinea Tower | 2028 | ₱10,090,000 | ₱161,547 |
| Sage Residences | 2028 | ₱9,813,500 | ₱166,534 |
| The Valeron Tower | 2029 | ₱11,900,000 | ₱183,011 |
| One Delta Terraces | 2029 | ₱13,723,000 | ₱227,911 |
Median 2BR unit per project. Highlighted rows are ready for occupancy. Location and product tier differ between these projects — this table shows the pattern, not a like-for-like swap.
Let Me Argue Against Myself
Two honest caveats, because you should know where this comparison is soft.
Location and tier are inside those numbers. The Valeron Tower isn't more expensive per square metre only because it's pre-selling. It's a newer, taller, higher-specification building in a different location. Some of that gap is product, not timing. What the table proves is narrower and more useful: the monthly payment tells you nothing about which unit costs more.
Pre-selling appreciation is real. On my own September 1 inventory refresh, 735 units went up in price and not one went down. Buying early genuinely does capture that increase. But that gain sits on paper until you sell, and it has to first exceed the premium you paid for buying early plus the cost of the years you spent waiting. Sometimes it clears that bar comfortably. It is not automatic, and it is never a reason to skip the arithmetic.
"But I Can't Afford RFO" — The Assumption Underneath
Most buyers who rule out ready units believe finished means pay cash. It doesn't. Ready-for-occupancy inventory carries structured terms too — they're just compressed:
- 12% downpayment over 32 months, with a 1% discount on most projects, and only ₱30,000 to reserve. The balance is settled at the end through bank financing, DMCI's in-house financing, or spot cash.
- Low-downpayment move-in schemes that get you into the unit for a fraction of the usual upfront cash, with the balance bank-financed.
- Home Advance rent-to-own, where you occupy the unit and pay while completing the downpayment.
So the real trade isn't "flexible terms versus no terms." It's a slightly higher monthly on a cheaper unit you can use immediately, against a slightly lower monthly on a dearer unit you can't touch for three years.
The Cost Nobody Puts in the Comparison
While you pay a pre-selling downpayment, you're also paying to live somewhere. That rent is part of the cost of the unit — you're carrying two housing payments at once, and only one of them builds equity.
| Unit | Months waiting | Rent at ₱25k/mo | Net price + rent |
|---|---|---|---|
| The Oriana · ready | 0 | ₱0 | ₱8,381,340 |
| The Erin Heights · 2027 | 14 | ₱350,000 | ₱9,247,000 |
| The Valeron Tower · 2029 | 35 | ₱875,000 | ₱12,656,000 |
₱25,000/month is an illustration, not a quote — substitute your own rent. If you're living with family and paying nothing, this line is genuinely zero and pre-selling looks materially better.
That single column moves the Valeron gap from ₱3.4M to more than ₱4.2M. It's the most commonly omitted number in any pre-selling versus RFO conversation, and for a renter it's usually the one that decides the answer.
When Pre-Selling Is the Right Call
I sell both. Pre-selling wins on its own terms in four situations, and I'd tell you so:
- You aren't moving yet anyway. If you're set for the next three years — living with family, posted abroad, finishing school — the waiting cost is close to zero and the long runway is pure benefit.
- Your cash flow is tight now but improving. A 46-month schedule buys you time to grow into the payment.
- You want first pick. Finished buildings sell down to leftovers. On my current list, 5,843 of 7,593 units are pre-selling — that's where the choice of floor, view and layout actually lives.
- The specific building doesn't exist finished. If you want that address, that view, that tower, pre-selling is the only door.
What none of those reasons is: "it's cheaper." Choose pre-selling for time, choice or cash flow. Don't choose it for a price advantage that the arithmetic doesn't support.
Four Questions That Cut Through It
Before you sign anything, on any unit, from any agent:
- What's the total contract price? Not the monthly. The whole number.
- What's the price per square metre? The only figure that compares two different units honestly. Divide the price by the floor area — if your agent won't do it, do it yourself.
- How many months is the downpayment spread over, and what's the balance at turnover? A low monthly usually means a large balloon waiting at the end.
- What will I pay in rent between now and turnover? Add it to the price. That's your real cost.
Run those four on every unit you're weighing and the illusion disappears. Sometimes pre-selling still wins — and when it does, you'll know why, instead of hoping.
I keep the full DMCI price list — all 7,593 units, both pre-selling and ready — in one calculator that shows total contract price, price per square metre, monthly downpayment and the balance at turnover side by side. If you're comparing two specific units, send me both and I'll run the real numbers on each. No obligation, and I'll tell you plainly if the pre-selling one wins.
Frequently Asked Questions
Is pre-selling always more expensive than RFO?
Not in every individual case, but it is the pattern. Across DMCI's September 2026 list, pre-selling inventory runs about 7.5% higher per square metre than ready-for-occupancy inventory. Individual units vary with location, tier and floor, which is exactly why you compare price per square metre on the two specific units in front of you rather than trusting the general rule in either direction.
Why is my monthly payment lower on a more expensive pre-selling unit?
Because the downpayment is divided across more months. A 2029 turnover allows a 46-month downpayment schedule; a finished building compresses the same percentage into about 32 months. The monthly figure reflects the length of the schedule, not the price of the unit.
Do ready-for-occupancy DMCI units have flexible payment terms?
Yes. Most RFO projects carry a 12% downpayment spread over 32 months with a 1% discount and a ₱30,000 reservation fee, and several are eligible for low-downpayment move-in schemes or Home Advance rent-to-own. The balance at the end is settled through bank financing, DMCI in-house financing, or spot cash. RFO does not mean paying cash.
Doesn't pre-selling appreciate before turnover?
Often, yes — on the September 2026 refresh, 735 units rose in price and none fell. But that gain is unrealised until you sell, and it has to exceed both the premium you paid for buying early and the rent you paid while waiting. Treat it as a possible bonus, not as the reason to buy.
What is the single best way to compare two condo units?
Price per square metre, plus the total contract price, plus whatever rent you'll pay before you can move in. Those three numbers make any two units directly comparable. The monthly downpayment makes them look comparable when they aren't.
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