That's the conclusion I've come to every time I've been there and had a look around. I've bought and sold a few properties in my time (including overseas), and have noticed that even relatively new property in the Phil's look rotten after a few years. The materials they use are not suitable for the climate, and everything is built on the cheap. The biggest problem I've seen is rotten timbers, inadequate rendering and paint, not to mention poor plumbing and electrics. The tropical climate, humidity and typhoons are too much for the materials to cope with.
If I was going to have a property in the Phil's I would build it myself with higher quality materials that were able to resist the mositure and heat. I certainly wouldn't buy anything that had been buily by anyone else unless I was planning on stripping it back to a bare brick shell and making sure the property could breathe properly as well as resisting the damp/mositure.