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.
The central bank’s Commercial Property Price Index (CPPI) is expected to be launched within the year and it will allow regulators to better monitor banks’ financial and real estate exposures, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
The Monetary Board, chaired b
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.