No, that's an SD DVD with standard VIDEO_TS files, transcoded from BD. Packaging looks real. It's not the old cardboard package (around P70) , it's a translucent blue plastic case (around P100).
But we do have AVCHD-on-DVD in the Philippines, confirmed by sir ninjababez, around P500 to P700 each. (Pekeng totoo daw!

) But this is very rare.
It was only last month when I first heard about it, via this post:
remember i bought one .. 
its HD on SD using AVCHD ..
(pekeng totoo parin ..
)
i actually copied it .. it can be played in panasonic HTIBs that can read avchd files .. iirc even my panasonic pv80s sdcard reader can read it! 
ill try it later 
according to this it works
... it only plays on ps3 and panasonic htibs (Bolshoie is using one) ..
its only 1080i/720p, i think 3 stages ang encoding nito bro, they have to convert it to a file type that is HD in order to burn it sa SD media ..
but then again 500 is still too much .. 
... nope its really HD, theyre selling it for 600 - 700 but they gave it to me at 500 pesos, because they were curious themselves, they wanted me to "dissect" it for them .. 