THE residential real estate prices of various types of new housing units in the Philippines continued to rise in Q2 2022, albeit slower than the previous quarter’s year-on-year (YoY) growth. However, housing prices recovered from the quarter-on-quarter (QoQ) contraction in Q1 2022. The Residential Real Estate Price Index (RREPI) rose by 2.6 percent and 1.6 percent compared with year-ago and quarter-ago levels, respectively.
Nationwide residential property prices rise by 2.6% YoY and 1.6% QoQ in Q2 2022
By area, residential property prices in the National Capital Region (NCR) and Areas Outside the NCR (AONCR) also grew YoY and QoQ
Residential property prices in the NCR grew by 6.3 percent YoY, primarily driven by the increase in the prices of townhouses and condominium units, which outweighed the decrease in the prices of single-detached/attached houses. Similarly, property prices in the AONCR rose by 2.2 percent YoY as all types of housing units registered an upturn, except for townhouses, which declined marginally.
On a quarter-on-quarter (QoQ) basis, residential property prices rose by 0.2 percent and 2.2 percent in the NCR and AONCR, respectively.
Likewise, prices rise across housing types
In Q2 2022, all types of housing units contributed to the YoY growth in the nationwide RREPI as the prices of duplex housing units, condominium units, townhouses, and single-detached/attached houses increased by 11.3 percent, 8.6 percent, 4.1 percent, and 0.8 percent, respectively
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