The residential real estate prices of various types of new housing units in the Philippines rose faster in the third quarter of the year 2022 by 6.5 percent year-on-year and 4.6 percent quarter-on-quarter, data from the Bangko Sentral ng Pilipinas showed.
THE residential real estate prices of various types of new housing units in the Philippines rose faster in the third quarter of the year 2022 by 6.5 percent year-on-year and 4.6 percent quarter-on-quarter, data from the Bangko Sentral ng Pilipinas showed.
On a quarter basis, residential property prices rose by 14.6 percent in the NCR, but contracted by 0.4 percent outside of NCR.In the third quarter, prices of duplex housing units, condominium units and single-detached or attached houses contributed to the yearly growth in the nationwide real estate prices as these prices increased by 26.7 percent, 19.2 percent and 9.8 percent, respectively. Meanwhile, prices of townhouses declined by 16.3 percent.
In the third quarter, the number of residential real estate loans granted for all types of new housing units in the Philippines fell by 4.2 percent yearly as loans in the NCR and outside of NCR contracted by 2 percent and 5.7 percent, respectively.
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