Home prices in the Philippines are likely to decline by up to 15 per cent after more than two decades of uninterrupted growth as a slowing economy due to the Covid-19 outbreak weighs on demand, with affordable and mid-income housing seen as the most vulnerable segments.The twin blow of rising unemployment locally and job losses among Overseas Filipino Workers, and a slowdown in investment and hiring by Chinese-operated online gaming companies, known as Philippine Offshore Gaming Operators (Pogo…
Source : South China Morning Post
Read more…Falling OFW remittances, rising unemployment to push down property prices in Philippines by 15 per cent
