|Source: Collier's International Philippines, Makati CBD Prices|
Sales volumes, as indicated by the HLURB Licenses to Sell Statistics, have shown a dramatic slowdown in the first half of 2017. Annualized Sales Volumes now stand at 171,172 units for the first half of 2017. This is off by 34.20% since year-end 2016. This sales volume now stands at slightly higher than the 170,379 level posted at year-end 2011 and below the 172,967 level posted almost ten years ago at year-end 2007. If sales volumes do not pick up in the second half of 2017, the long-term upward trend in ever increasing sales volumes that has been in place since 2001 would have been broken, indicating a real estate bear market is imminent.
|Source: HLURB Licenses to Sell|