Real estate loans by banks post double-digit decline

Quick Summary:

REAL estate loans (RRELs) granted by local banks posted a double-digit decline in the third quarter of the year, according to the Bangko Sentral ng Pilipinas (BSP).

The BSP said the nationwide loan availments for new single-detached/attached houses fell by 5.5 percent quarter on quarter driven by the 31 percent and 4.2 percent decreases in the NCR and AONCR, respectively.

THE Residential Real Estate Price Index (RREPI) showed the appraised value of new housing units in the country averaged P86,417 per square meter (sqm) in the third quarter of 2024.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Units Loan Showed Granted Quarter Year Data Aoncr Percent Loans Housing

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-29 @ 16:09:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 854 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 24724535

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