Residential real estate prices up in Q4 2023
MANILA, March 27 -- Residential real estate prices went up year-on-year in the fourth quarter of 2023 but registered a contraction quarter-on-quarter.
Residential Real Estate Price Indices (RREPI) data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed a 6.5 percent year-on-year increase in residential real estate prices nationwide.
The BSP however said that quarter-on-quarter, the index recorded a contraction of 3.6 percent.
The RREPI is a measure of the average change in the prices of various types of housing units, such as single-detached or attached houses, duplex housing units, townhouses, and condominium units, based on banks' data on actual mortgage loans granted to acquire new housing units.
Growth in reside...
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