BSP: Real estate prices grow 6.1% in H1, lowest in 7 qtrs

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THE country’s real estate prices slowed to 6.1 percent in the first quarter of the year, the slowest in seven quarters, according to the Bangko Sentral ng Pilipinas (BSP).

The growth was driven mainly by double-digit increases in the price of duplex units, which posted a year-on-year growth of 36.2 percent and a quarter on quarter growth of 71.2 percent.

BSP also said about 81 percent of the number of duplex loans granted had appraised values above the 3-year average of P39,201 per square meter (sq m).“Majority of the duplex transactions were high-valued properties, which pulled the average upwards,” BSP said.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Estate Granted Growth Housing Units Number Percent) Percent Quarter Real Prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 16:16:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 825 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 21428686

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