By Inquirer

MANILA, Philippines–The construction sector in three to five years will experience a boom, helped by low inflation levels and an expanding real estate sector, according to property consultant CB Richard Ellis Philippines Inc.

Inflation, or the rise in prices of goods and services, greatly affects the material and labor costs. Inflation has fallen to single digit-levels, with the lowest rate recorded at 2.2 percent in March 2007.

A real estate boom usually precedes a construction boom, ensuring that demand will sustain the latter.

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