01/01/2025
Sign of second chance.
5 years earlier, you always said the price is high but still actively looking for a good deal property. Maybe, now is the right time for you to invest!
Residential property prices in the Philippines dropped for the first time since 2021, as prices of duplex housing and condominium units fell sharply in the third quarter of 2024, according to the Bangko Sentral ng Pilipinas (BSP).
The Residential Real Estate Price Index (RREPI) fell 2.3% year-on-year to 163.9, marking its first contraction since a 9.4% decline in Q2 2021. On a quarterly basis, the index dropped 1.6%.
Key trends:
🏠 Duplex prices fell sharply by 48.1%
🏢 Condominium prices dropped 9.4%
📉 NCR prices down 14.6%, while areas outside NCR rose by 3%
Understanding these shifts is crucial for adapting to market demands and guiding clients effectively. Let’s discuss how these changes impact the real estate industry! 💡