19/12/2024
The latest BSP data shows a cautious move by banks, with real estate loans dropping to 19.55% of total portfolios in the third quarter, the lowest level since 2019.
Housing loans rose slightly by 2.2% to ₱1.07 trillion, while commercial property loans grew 2% to ₱1.78 trillion. However, nonperforming residential loans climbed to ₱72.74 billion, reflecting financial strain on borrowers due to high interest rates and inflation.
🏠 What does this mean for us in real estate? Stricter lending, slower growth, but also opportunities for creative solutions in a shifting market.
Let’s discuss how we can adapt and thrive in these changing times! 💬