RESIDENTIAL property price growth markedly slowed in the second quarter, the Bangko Sentral ng Pilipinas reported on Friday.
The Residential Real Estate Price Index slipped to 2.7 percent for the period, dropping from 6.1 percent in the first three months of the year and the 14.1 percent posted in the second quarter of 2023.Quarter on quarter, however, housing prices grew at a faster 1.8 percent compared to 1.1 percent growth in January-March.Duplex housing units saw the highest year-on-year price growth of 27.1 percent, although this eased from 36.2 percent in the first quarter.Condominium units followed at 10.
2 percent, driven by increases in duplex , single-detached/attached houses and condominium prices , which offset a decline in townhouse prices .Meanwhile, residential real estate loans for new housing units contracted by 3.5 percent year on year, with those in the NCR falling by 9.2 percent and in areas outside the NCR marginally lower by 0.8 percent.Quarter on quarter, housing loan availments dropped 15.1 percent nationwide, with NCR and AONCR loans down 11.5 percent and 16.
Reports Slowdown In Housing Price Growth
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