28/03/2022
π΅π *Maybank IBG PH Top News | 03.28.2022*
_*PROPERTY: Property prices further rise in Q4*_
According to the Residential Real Estate Price Index (RREPI), property rates across the country grew by 4.9% from October to December 2021, faster compared to the 0.8% expansion recorded in the same period in 2020. On a quarterly basis, property prices went up by 1.1% in the fourth quarter of 2021 as demand for real estate rebounded following the easing of quarantine restrictions. Property costs increased by 5% within Metro Manila, while a 5.1% growth was recorded in areas outside of the NCR. On a quarterly basis, property prices in Metro Manila declined by 1.2%, even as rates climbed by 2.6% in areas outside of the capital. Based on the RREPI, the 4.9% growth in property prices can be attributed to the double-digit spikes in townhouse and condominium costs. During the period, townhouse rates rose by 22.6%, while condominium prices climbed by 10.4%. In contrast, the RREPI reported that the prices for duplex and single detached units slipped by 10.2% and 1.1%, respectively.
(https://www.philstar.com/business/2022/03/27/2170085/property-prices-further-rise-q4)
Property prices nationwide rose for the second straight quarter in the fourth quarter of 2021 as the cost of owning a townhouse or a condominium jumped by double digits.