Defining the News
The prices of various types of new housing units rose 14.1 percent year-on-year in the second quarter of 2023, faster than the 10.2-percent rise in the first quarter, the Bangko Sentral ng Pilipinas said Thursday.Data showed that residential property prices in the National Capital Region and Areas Outside the NCR increased by 15.4 percent and 13.
“By housing type, prices of duplex housing units, single-detached/attached houses, townhouses and condominium units contributed positively to the YoY growth of the nationwide RREPI as the indices increased by 24.6 percent, 18.3 percent, 14.7 percent, and 5 percent, respectively,” the BSP said. Meanwhile, the number of residential real estate loans granted for all types of new housing units in the Philippines declined by 1 percent year-on-year in the second quarter, as RRELs in the NCR contracted by 11.8 percent, outweighing the 5.3 percent growth in RRELs in the AONCR.
The average appraised value of new housing units in the country was P78,444 per square meter in the second quarter. The average appraised value per sqm in the NCR was at P127,884, higher than both the national average and the average appraised value in the AONCR at P54,496.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP makes off-cycle rate hike amid inflation risksThe Bangko Sentral ng Pilipinas (BSP) on Thursday raised rates by 25 basis points.
Read more »
BSP makes off-cycle 25 bps rate hike amid inflation risksThe Bangko Sentral ng Pilipinas (BSP) on Thursday raised rates by 25 basis points.
Read more »
BSP raises interest rate by 25 basis points to 6.5%Defining the News
Read more »
Fabricio Andrade not sweating adjustments in return to kickboxingDefining the News
Read more »