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Property

Chinese eye bigger slice of Manila as real estate prices tank

Locals fear being left out as market correction risks forcing quick sales

Colliers International, an industry consultant, says Manila real estate prices are poised to slump by 15% this year amid the worst economic downturn in over 30 years. (Photo by Hirofumi Yamamoto)

MANILA -- Chinese property investors are eyeing a bigger slice of the Manila property market amid falling real estate prices triggered by the coronavirus pandemic.

With the Philippines facing the worst economic downturn in 30 years, prices are set to fall by up to 15%, according to Colliers International.

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