If you’re in the market for residential units in the Philippines, you should be apprised of the recent price changes. This is especially important for those researching real estate quotes for investors. 

The Banko Sentral ng Pilipinas has recently released their report for the third quarter of 2023, which revealed essential details. Besides price increases for the residential Philippine real estate market, it also focused on the rise in residential loan interest rates. 

Price Increases in Local Residential Properties

For growth by year, duplex-housing units had the highest increase at 57.7%. Single detached/attached houses recorded an increase of 16.8%. Meanwhile, townhouses increased by 9.3% while condominium prices increased by 8.3%. 

In terms of yearly growth, residential properties of various units were reported to have increased by 12.9 %. In contrast, the quarter-on-quarter prices increased by 3.4%. 

Residential loan transactions accounted for about 76.2% of purchases for new housing units. Duplex units accounted for the lowest segment at only 0.4%. Meanwhile, single house units still made up the highest percentage at 48.2%. 

For further information about real estate growth rate philippines and other topics, feel free to subscribe to RealHolmes.ph. 

#propertynews #Realestatenews #propertiesphilippines #philippinerealestate #housebuyingph