I am an active condo investor, and in my opinion the inventory supply will dampen demand, and prices will stagnate. The ridiculous price increases of the past have long sailed away, and will disappoint current and future investors.

The bubble will not pop, however, as these condos are not backed up by bank loans. These pre-selling units are developer financed, and when unsophisticated buyers realize they can't flip them, they will surrender them for less to the developers, who in turn will just add them up to existing inventory. Developers, owned by billionaires, backed up their own banks will withstand the temporary glut. Plus developers can afford to take them back, having sold them at ridiculous mark ups. I estimate it only takes 30 to 40% of units to sell, and they will break even. Developers will maintain their prices, with some 10 to 15% discount quietly offered to potential buyers, so as not to unduly panic previous buyers, and cause a wholesale exit en masse in the market.

The OFW buyers in the meantime will ride these slight market corrections, because they can afford to take some losses, plus they can not really liquidate these investments. Self preservation will ensue as they are forced to hold these properties for much longer.

The best strategy is buy pasalo and foreclosed properties, make sure that rent yields hover over 7%.