Philippines Ready to Act on Property Loan Surge

Philippines Ready to Act on Property Loan Surge

Brent Lewin/Bloomberg

High-rise towers in Makati City are seen through a window in Manila. Prices of luxury condominiums in the central Makati district rose 1.6 percent to as much as 155,850 pesos per square meter ($351 per square foot) in the last quarter of 2012 from the previous quarter.