Global property portal Lamudi looks back on an exciting year for Philippine real estate MANILA, THE PHILIPPINES, DECEMBER 18, 2014 : With China’s property market cooling after years of rapid growth, and Singapore’s and Hong Kong’s housing markets expected to decline steadily, 2014 has seen real estate in the emerging markets come into focus. The Philippines, in particular, performed (and is performing) well. Although GDP growth slowed slightly, the country’s economy continues to outperform most of its neighbors.