Wednesday, November 13, 2019
How Crazy is the Philippine Real Estate Market? Prices have Climbed Almost 50% Since Duterte Took Office!
Philippine house prices have gone parabolic. They have climbed 49.30% since President Duterte took office in the second half of 2016. Year-on-year price increase as of the 3rd Qtr 2019 is an astounding 21.20%. Prices have outpaced inflation by a wide margin, 139.88 percentage points.
How long can this go on? Not long, considering sales volumes dropped by more than 25% in 2018, indicating that more and more people cannot afford the high price levels.