Market forces apply nearly everywhere. Supply and demand. As noted, the supply outweighs the demand in the Philippines. To answer the question; yes, prices most likely will drop or have already.
The trouble is; most Westerners get excited about the prospect of cheap view property and pay more than they should. Additionally, they expect Western type consumer protections which don't exist in PI.
(Negotiating a selling price is an art in Asia. I like to ask my bilas to intercede for me. He's a master.)
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The price of freedom of religion, or of speech, or of the press, is that we must put up with a good deal of rubbish.
- Robert Jackson |