Housing prices outside Metro Manila rose in second quarter: central bank
Demand for housing outside Metro Manila raised prices in the second quarter, according to Bangko Sentral ng Pilipinas on Friday.
In a press statement, the residential real estate price index climbed 11.3 percent to 122.8 in April to June from 110.3 during the same period last year, the central bank said. In the first quarter, the index rose 9.4 percent.
Growth in residential real estate prices speeded up in areas outside National Capitol Region by 18.4 percent but moderated in NCR to 2.7 percent in the second quarter, the central bank said.
Housing prices in the National Capital Region declined 2.7 percent to 117.8. Prices of condominium units “edged lower in NCR but increased slightly in areas outside NCR.”
Seven out of 10 real estate loans were to buy housing units. The central bank said “about half of residential property loans were for single detached (50.1 percent), followed by condominium units (41.2 percent) and townhouses (8.4 percent).
By region, NCR accounted for 42.1 percent of total number of residential real estate loans during the quarter. Calabarzon followed with 3.5, central Luzon (6.7 percent), central Visayas (5.2 percent), western Visayas (4.9 percent), northern Mindanao (3.4 percent), Davao region ( 2 percent).DMS