Is Vertis North Still a Buy in 2026? A Data-Driven Update

Nine weeks after our full investor guide on Vertis North, the key numbers have changed, and there isn’t a simple answer to “is it still a buy.” Secondary market prices have increased, bank financing costs are lower, and the main infrastructure project just lost its contractor after months of delays. Here’s what this means for four types of buyers.

In June, Alveo’s High Park had active listings priced between ₱213,000 and ₱270,000 per square meter. Now, the current listings show a range of ₱226,230 to ₱288,000 per square meter, an increase of about 6% to 7%. [Source: DotProperty.com.ph, live listings, September 2, 2026]

It’s important to clarify what this data shows and doesn’t show. These figures represent asking prices, not actual sale prices, and a two-month period is too short; a few newly listed high-end units can change the numbers without indicating a shift in the overall market. What it shows is that the expected price drop since June hasn’t happened — instead, sellers are asking for higher prices, which goes against the idea that the market is “still undervalued.”

Orean Place, Alveo’s pre-selling phase, still has higher prices than the secondary stock, as we observed in June. Pre-selling inventory in a developing estate usually costs more than what’s already been delivered — this difference is normal and not a concern.

June figures per the June 30, 2026 cornerstone guide. September figures from DotProperty.com.ph live listings pulled September 2, 2026. BGC figure per LuxuryMakati.com, last modified April 19, 2026. Asking prices only — not transacted values.

The key number affecting your monthly cash flow is the policy rate, which the Bangko Sentral ng Pilipinas reduced by 225 basis points since August 2024, now at 4.25% as of February 2026. Commercial banks like BDO have adjusted their rates accordingly, offering a 6.75% annual rate for a 1-year fixing period as of January 28, 2026, down from the 7.5% used in June.

Run the same example with the new amount. A ₱9.8M loan (70% LTV on a ₱14M unit) over 20 years at 7.5% costs about ₱78,900 monthly. At 6.75%, it drops to around ₱74,500, which is ₱4,400 less each month or nearly ₱53,000 annually.

With the ₱35,000 furnished 1BR rent from June, the difference between your bank payment and rent collected decreases from about ₱43,900 to ₱39,500 monthly. Over five years, this means around ₱2.37M in costs instead of ₱2.6M — a notable improvement, but you’re still paying out of pocket each month. Lower financing costs make holding the property cheaper, but it’s not a yield investment.

This is the part where most people misunderstand Vertis North, and saying “the timeline moved” doesn’t fully capture what really occurred.

The Common Station, which is meant to connect MRT-3, LRT-1, and MRT-7 at North Triangle near Vertis North, started construction in September 2017 with plans to finish by early 2020. Delays due to the pandemic pushed the completion date to December 2022, which was also not met. An inspection in March 2025 revealed that construction had stopped since August 2024, and work was abandoned. On May 16, 2025, the Department of Transportation ended its contract with the original contractor consortium, BF Corporation and Foresight Development and Surveying Company, due to significant delays. [Source: GMA News, May 2025]

DOTr plans to award the restart of LRT-1 to LRMC by Q1 2026. By April 2026, the project was targeted for completion in the second quarter of 2027. Additional reports mentioned a similar 2027 deadline for finishing the station.

The project now has a clearer plan than in June, when it stated that the interchange was “targeted for 2027 but has no confirmed construction completion date.” That’s still true today, but for a different reason — this project has now missed a 2020 target, a 2022 target, and lost its original contractor after roughly nine months of work sitting quietly abandoned before anyone caught it.

Having a new date with a new contractor shows some progress, but it does not justify relying on a firm 2027 completion based on the project’s history.

Ayala Land’s first-half 2026 results show a mixed picture. Net income reached ₱11.5 billion, a 19% drop from ₱14.2 billion last year, with total revenue at ₱75 billion. This suggests a slowdown, but Q2 2026 revealed a different trend — net income of ₱6.1 billion, up 13% from Q1, with quarterly revenue of ₱37.5 billion. [Source: Manila Times / Business Inquirer, August 11, 2026]

Property development revenue hit ₱41 billion for the half year, with leasing and hospitality rising by 9%, and hospitality alone increasing by 28%. The company successfully delivered nearly 6,000 residential units across 40 projects, improving its residential inventory turnover from 18 months to 15 months, indicating that units are being sold more quickly.

None of this directly confirms or denies progress on Towers 4 and 5 of the Vertis North Corporate Center. It suggests that Ayala Land’s dip in H1 seems more like a stabilization rather than a reduction in delivery commitments — an important difference when considering developer risks for a multi-year investment.

Metro Manila’s residential vacancy is expected to reach a record 25.6% by the end of 2026, up from a previous estimate of 24.9%, due to about 13,000 new units being completed. This news is concerning for anyone owning condos in Metro Manila, including those in Vertis North.

But the same data shows Metro Manila’s net take-up increased by 765% year-on-year in the first quarter of 2026 — 2,000 units compared to 200 a year earlier — primarily in the ₱1.8M to ₱3.6M price range, driven by strong developer promotions and flexible payment options on affordable properties. Vertis North’s investment-grade tier, priced at ₱12M to ₱18M for a 1BR, does not fall within this range. The “recovery” highlighted in 2026 property news is genuine, but it is occurring in a different market than where Vertis North operates.

Quezon City’s office vacancy remains high at over 22% in 2026, nearly unchanged from the 22.8% reported in June. This figure is particularly important for Vertis North, as the number of office workers affects the demand for residential rentals, which hasn’t seen significant improvement.

Updating the June comparison: Vertis North’s secondary PSM ceiling has moved ahead of both BGC and Ortigas since June, while BGC’s pricing and yield have remained steady. The gap has not closed and may have even widened slightly at the top, making it difficult to support the idea of Vertis North being undervalued compared to BGC, unless purchasing at the lower end of Vertis North’s range.

Vertis North and BGC figures updated for this piece; Ortigas figure carried from the June guide’s citation (BambooRoutes/HousingInteractive, Q1 2025 data) and was not refreshed this cycle. Yield figures are indicative only.

The answer to “still a buy” varies based on your goals.

Cash Buyer, Appreciation-Focused

The situation is slightly better than in June. You avoid financing-rate issues and are investing in a price trend that has increased since the last update. Your main risk is still the Common Station timeline — consider any appreciation forecast related to it as uncertain.

Financed Buyer, Appreciation-Focused

Also slightly stronger. The lower bank rate significantly lowers your monthly costs — about ₱4,400 less each month in the example above — giving you more flexibility to wait through a slow rental market for price appreciation.

Income-Focused, Yield-Driven Investor

There hasn’t been much change, and honestly, Vertis North still isn’t the best option. With a 4%–6% expected gross yield compared to BGC’s 7%–9%, an investor looking for cash-on-cash returns would likely prefer other options unless there are specific reasons, like being close to work, personal use, or family connections in QC, that make Vertis North a better choice despite the yield.

Pre-Selling Buyer (Orean Place or Future Phases)

Remember to check the DHSUD License to Sell before paying a reservation fee. Confirm construction progress in writing and secure bank financing terms in writing before signing a Contract to Sell — not after.

This is not a final answer — it’s a view as of September 2026. A few key developments could change the outcome, and it’s better to follow them closely instead of just waiting for the next news update.