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Soaring land prices in Manila spark property bubble concerns

Land prices in Manila's five major business districts have surged to a 17-year high as fast economic growth, rising remittances from overseas Filipinos and low borrowing costs fuel demand.


RECORD bids for two plots of land in a Manila business district have lifted prices to a 17-year high, raising concerns that a property bubble is forming.

The 1,600-square-metre site in the former military camp of Bonifacio fetched 732.8 million pesos (S$21 million) and 800