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Philippines property market heats up

Posted on 23 May 2011

Real estate is booming in the Philippines, as a spate of new construction signals. With the economy expanding at 7%, its highest rate in three decades, and with remittances from more than 10 million overseas Filipinos expected to increase 7% this year, demand for new homes is strong.
Prices of luxury homes in prime locations are up a modest 3% this year, but with 2011 not yet half over, rents in those buildings are already up more than 8%, according to data from real estate firm CBRE……………………………………….Full Article: Source


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