Housing price growth slows in Q1

Prices for housing units in the Philippines rose at a much slower pace in the first three months of the year, although costs in Metro Manila posted a double-digit surge.

- BY DERCO ROSAL

Data from the Bangko Sentral ng Pilipinas (BSP) showed on Friday, June 27, that the nationwide Residential Property Price Index (RPPI) grew by 7.6 percent from January to March this year, a slowdown from the 9.8 percent growth recorded in the previous quarter.

Despite the national trend, the national capital region (NCR) remains the region with the most expensive properties.

Residential property prices in Metro Manila accelerated by 13.9 percent during the period, significantly outpacing price growth in areas outside NCR, which registered a more modest three percent uptick.