Soaring land prices in Manila spark property bubble concerns
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Manila
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 million pesos each at a government auction in September.
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