Philippine’s real estate boom is weakening
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The global financial turmoil and high inflation have slowed down the Philippines raging real estate boom. Although luxury condominium prices continue to rise, the residential sector is definitely slowing.
The average price of a luxury 3 bedroom condominium in Metro Manila rose 13.35% to Q2 2008 from a year earlier. Adjusted for inflation, residential prices increased only 3.3% over the year.
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