NCR property growth halved in 2nd quarter

Driven by the decline in condominium unit prices, housing price growth in Metro Manila grew at its slowest pace in one and a half years in the second quarter of the year, a sluggish rate not seen since property prices contracted in late 2023.

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According to the residential property price index (RPPI) reported by the Bangko Sentral ng Pilipinas (BSP), housing prices in the National Capital Region (NCR) increased by 2.4 percent in April to June 2025, a slowdown from the 9.3 percent price hike a year ago.

Contributing to the slowdown in all types of housing units was the 2.2-percent contraction in condominium unit prices during the quarter, compared with a 13.7 percent inflation rate in the same period in 2024.

Offsetting the overall potential contraction was the 14.3 percent hike in housing-single houses, townhouses, duplexes, and apartments-prices, following a two percent drop a year ago.

On a quarterly basis, residential property prices dropped by 3.6 percent in the April-to-June period, reversing the 9.2 percent increase in the first quarter.