16.07.2009 - Philippine housing market weakens
From Globalpropertyguide.com: In early 2009, luxury condominium prices, and sales, both fell in Manila. Compared to the previous quarter, the average price of luxury three-bedroom condominiums in the Makati Central Business District dropped by 0.7%, according to Colliers International (a fall of 0.6% in real terms). During the year to Q1 2009 the average price has appeared to increase by 4.6%, to PHP101,000. But this increase is illusory, because when adjusted for inflation, the average price has in fact fallen by 2.2%........Full Article: Source