Philippine House Prices have entered into a price "recession", declining for two straight quarters - roughly 3.4% from its peak of 220.99 as of the first quarter of 2016.
Data from the St. Louis Fed confirms this:
As can be seen from the chart above, the upward trend of property prices that began in 2011 seems to have been broken for now.
This has happened just as investment in construction as a percentage of GDP has reached a 25 year high.
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