Residential property prices slump in Q1 bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BSP plans to launch a commercial property price index to supplement its Residential Real Estate Price Index (RREPI), launched in the first quarter of 2016.
BusinessWorld
June 4, 2021 | 12:02 am
THE BANGKO SENTRAL ng Pilipinas targets to start releasing a quarterly commercial property price index within this year. BW FILE PHOTO
THE CENTRAL BANK will start to release a commercial property price index within the year as it broadens its watch on the sector, which an expert said could also help the industry establish better benchmarks and valuations.
“As part of expanding the surveillance on financial exposures of banks to, and price trends, in the property sector, the BSP (Bangko Sentral ng Pilipinas (BSP) will be releasing the Commercial Property Price Index (CPPI) within the year,” BSP chief Benjamin E. Diokno said at a briefing on Thursday.
Weak demand amid pandemic pulls down home prices in Q3 BSP
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Metro Manila (CNN Philippines, December 23) Prices of residential properties contracted annually in the third quarter of 2020, the Bangko Sentral ng Piilipinas has reported.
Prices went down by 0.4 percent year-on-year, the latest Residential Real Estate Price Index (RREPI) revealed. The BSP noted this is the first time the index recorded a negative annual growth since it was first unveiled in the first quarter of 2016. The decline in the RREPI may be partly due to the weak consumer demand for houses and lots, said the central bank, adding it is consistent with the results of its recent consumer expectations survey. That survey showed participants low preference for purchasing real estate property as the COVID-19 pandemic and the resulting economic instability continue to persist.
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.