PHL inflation uptick seen in March — poll bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Philippines’ housing market is now very weak amidst an ailing economy
Prices of 3-bedroom condominium units in Makati CBD down 16.11% during 2020
The Philippines’ housing market is now struggling, amidst coronavirus-induced economic downturn. The average price of 3-bedroom condominium units in Makati CBD plummeted by 16.11% during 2020, far worse than the previous year’s 1.03% fall. In fact it was the worst performance since 1998. Quarter-on-quarter, house prices in the CBD fell by 8.7% in Q4 2020.
House price boom
The Philippines experienced a house price boom from 2010 to 2018, with Makati CBD prices rising by more than 132% (76% inflation-adjusted) due to strong demand and rapid economic growth. But with a slowing domestic economy, coupled with the US-China trade war, the housing market slowed sharply last year, with real house prices falling by 1%. Worse, the coronavirus pandemic has derailed a much-awaited housing recovery last year.
Department of Health (DOH) (MANILA BULLETIN)
The new cases brought the number of active cases in the country to 165,715.
“The relatively high number of deaths in today’s bulletin stems from the ongoing data reconciliation process with both the Philippine Statistics Authority (PSA) and our local Epidemiology Surveillance Units (ESUs),” the DOH explained.
“Rest assured that in the interest of accurate data, the Department of Health is exerting all effort to validate deaths as they are reported,” it added.
The Health department said 30 duplicates were removed from the total case count. Of these, 14 were recoveries.
Moreover, the DOH has also reclassified 48 cases that were previously tagged as recoveries as deaths after final validation.
endIndex:
Metro Manila (CNN Philippines, April 3) The country recorded 12,576 new COVID-19 cases, pushing the total to 784,043, according to the Department of Health s Saturday case bulletin.
It is the third time this week that the country had more than 10,000 cases reported in a day. The total does not yet include data from seven laboratories that have yet to submit their reports, the DOH noted.
Active cases are also at a new all-time high of 165,715, making it the 5th consecutive day the country broke its record of highest number of currently ill patients in a day. The active case count is equivalent to 21.1% of the COVID-19 total. At least 96.5% of the active cases have mild symptoms, 2.2% have no symptoms, 0.5% are in critical condition, 0.5% are severe cases, and 0.3% are in moderate condition.
April 03, 2021 THE Department of Health (DOH) 7 noted a drop in Covid-19 critical care utilization rate (CCUR) in private hospitals in Cebu.
But the situation is still severe in Metro Manila.
Dr. Mary Jean Loreche, DOH 7 spokesperson, said the Cebu private CCUR is at 31.2 percent as of April 1, 2021; this is significantly within the 60 percent “safe level.”
“(Covid-19) cases are getting controlled,” she told SunStar Cebu in a text message on Saturday, April 3.
As of April 1, only 270 of the total allotted Covid beds in private hospitals in Cebu are occupied while a total of 595 beds remain available.
This is even better than the 35.8 percent CCUR recorded on March 26, before the Holy Week, when 310 beds were occupied and 555 beds were available.