Property prices stagnate in the Philippines

• 11 December 2019
• Property Focus
• 3367 Views

The Philippines central bank Residential Real Estate Price Index (RREPI) for Q2 2019 showed that house prices grew by only 0.4% year-on-year which represents and downgrade on the forecast of 3.7%.

Despite all other housing types seeing prices decreases, including 7.9% for duplexes, condominium unit prices remained relatively robust rising 4.5 per cent between the first and second quarters of 2019.

In terms of locations, home prices were on the ascent in the capital. Although they decreased 0.2% in the three months to Q2 2019, prices in the National Capital Region jumped 5.2% year-on-year.

Prices in Philippine provinces or Areas Outside the National Capital Region (AONCR) fell by 1.1% in the year to Q2 2019. Between quarters, provincial prices fell 2%.

• Business and Market