MANILA — The Commission on Overseas Filipinos (COF) announced on Monday that a number of government agencies are investigating the prospect of turning some vertical residential structures into specialized retirement residences.

“Noong naguusap po kami ng Philippine Retirement Authority, napuna nila na marami tayong mga sobrang condominium dito sa atin and I think they are talking to several large developers kung paano nila macoconvert yung iba doon to independent living or assisted living [units],” stated Dante “Clink” Ang II, chairperson of the COF.

“Kasi marami ang tumitingin dito para magretire… ‘Yung mga umalis noong dekada 80, they are at that stage na po,” He spoke to PTV, the state television.

“Bagamat maganda yung buhay nila doon, iba pa rin yung buhay dito sa atin.”

A number of real estate advisors estimated last year that the Philippines had an excess of 29 months’ worth of condominium units in the National Capital Region. They attributed the tens of thousands of vacancies on rising loan rates and a growing demand for single-detached homes.

According to a number of commentators, the Marcos Jr. administration’s complete prohibition on Philippine Offshore Gaming Operations (POGO), an industry whose employees typically operated and lived in condominiums, resulted in the evacuation of several units.

According to Ang, the COF is also keeping an eye on an increase in the number of Filipino migrants.

“Bumababa na talaga yung number of Filipinos migrating abroad before the pandemic, but hindi paung 2025 may kaunting uptick,” he stated.

He continued, “Baka babalik sa dating level around 2016 na 70,000 to 80,000 a year.”

Ang stated that their organization is working with a number of Filipino communities abroad to address mental health issues like homesickness, but she did not go into further detail.

In an effort to meet the Philippines’ increasing demand for senior citizen housing, a number of government agencies are now researching ways to turn certain condominium units into retirement communities.