The Philippines remains relatively safe from a housing market bubble but the country should be watchful as higher interest rates could pose a threat to the rapidly growing real estate sector.

“Unless interest rates went up a lot, not much problem would arise in the property market. The biggest risk in the property sector is if inflation pressures go up significantly and the central bank eventually has to raise rates,” said Rajiv Biswas, chief economist for the Asia-Pacific at IHS, a US-based think tank.

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