Manila rose eight places to 89th, alongside Hong Kong, in the latest 100-city Prime International Residential Index (PIRI 100) published in The Wealth Report 2023 by real estate consultancy Knight Frank. The Philippine capital’s prices of luxury residences dropped by 1.6% last year. This was the third lowest in the East and Southeast Asian region. It was smaller than 0.4% average price uptick in the Asia-Pacific region as well as the global increase of 5.2% in 2022.
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