Philippine property prices decrease for first time since 2016 phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.
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This increase was due to a decline in transitions into unemployment (from 10.5 percent in July to 0.8 percent). Among those who were employed four months ago, transitions out of the labor force also increased, rising from 0.7 percent in July to 4.0 percent in November. This increase was most pronounced among women and respondents without a college degree.
The average expected likelihood of moving into unemployment over the next four months, for those who are currently employed, remained essentially unchanged at 3.6 percent.
The average reservation wage the lowest wage respondents would be willing to accept for a new job increased to $68,200 in November, up from $64,225 in July. The increase was broad-based across age, education, and gender groups.
Q3 residential estate prices down 0 4% – The Manila Times manilatimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manilatimes.net Daily Mail and Mail on Sunday newspapers.
Published December 24, 2020, 6:00 AM
For the first time in the reporting of the Bangko Sentral ng Pilipinas’ (BSP) Residential Real Estate Price Index (RREPI), residential property prices fell in the third quarter by 0.4 percent year-on-year due to weak demand brought on by the COVID-19 pandemic.
On a quarter-on-quarter basis, RREPI declined more significantly or by 14.1 percent. The decline in the prices of condominium pulled both periods’ RREPI.
This is the first time since the RREPI was introduced in 2016 that it had a negative year-on-year growth. “The decline in the RREPI may be partly due to the weak consumer demand for houses and lots,” said the BSP. “This is consistent with the outcome of the third quarter Consumer Expectations Survey, which pointed to the low preference of consumers to buy real estate property amid the pandemic and economic uncertainty.”
Residential real estate prices down in Q3 sunstar.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sunstar.com.ph Daily Mail and Mail on Sunday newspapers.