Real estate prices surge in Q3 2019
Updated: Jun 27, 2020
Real estate prices booked their biggest growth in more than three years in the third quarter amid the sharp increase in the cost of acquiring condominium units, duplex as well as single detached houses and townhouses, particularly in the National Capital Region (NCR).
The Bangko Sentral ng Pilipinas (BSP) reported over the weekend that the residential real estate price index (RREPI) booked a double-digit increase of 10.4 percent to hit a record 128.7 in the third quarter this year from 116.6 in the same quarter last year.
The RREPI is used as an indicator for assessing the real estate and credit market conditions in the country.