Slowdown in residential property price rises in Manila
Despite the impact of one of the greatest typhoons in history, the Philippine economy continues to grow, and its property market continues to rise - though at a slower pace than before.
Since Benigno (Noynoy) Aquino III became president in June 2010, he has instituted a no-holds barred anti-corruption and good governance campaign which has wowed foreign investors and caused consumer confidence to surge. Rising investment, plus low interest rates, have increased condominium prices by 36.4% (18.9% inflation-adjusted) between Q3 2010 to Q1 2014. Property prices have risen as much as 113.3% (34.1% in real terms) from 2004 to 2014. Philippine property experienced the fifth highest price rise in the world during the year to Q1 2014, according to the Global Property Guide’s Q1 2014 report.
