MANILA – Residential actual property costs within the nation rose additional within the fourth quarter because of the sustained demand, information from the Bangko Sentral ng Pilipinas confirmed.
The residential actual property value index (RREPI) grew by 4.9 % year-on-year and 1.1 % on a quarter-on-quarter foundation, the BSP stated in an announcement.
“That is according to the end result of the This autumn 2021 Client Expectations Survey (CES), which confirmed a better proportion of shoppers preferring to purchase actual property property over the past quarter of 2021,” the BSP stated.
Residential property costs within the Nationwide Capital Area (NCR) rose by 5 % 12 months on 12 months for the interval however decrease than 11.4 % in Q3 2021, information confirmed.
Costs had been primarily pushed by the rise in costs of condominiums and townhouses, which offset the decline within the costs of duplex housing items and single-detached homes, the BSP stated.
Nationwide residential actual property loans for brand spanking new housing items decreased yearly however rose on a quarter-on-quarter foundation.
Within the fourth quarter, the variety of residential actual property loans granted rose 11.5 % year-on-year. Nevertheless, within the NCR, the variety of loans granted declined in comparison with the information from a 12 months in the past, information confirmed.
The typical appraised worth of latest housing items stood at P74,347 per sq. meter whereas the NCR common reached P115,235
RESIDENTIAL LOANS
The next are the important thing metrics for residential loans within the fourth quarter:
- 73.5 % or virtually a 3rd of residential actual property loans had been used to purchase new housing items.
- 44.6 % of residential property loans had been used to buy condominiums, adopted by single-detached or single-attached homes at 39.3 % and townhouses at 15.6 %
Majority of loans or 40.1 % had been from the NCR, information confirmed.
Consultants have stated that actual property stays a great funding, even through the pandemic.
