12/09/2024
🏡 Residential Real Estate Prices Update: Q4 2023 Analysis
In the latest report, nationwide residential property prices showcased interesting trends in Q4 2023:
• Year-on-Year (YoY) Growth: Residential real estate prices rose by 6.5% YoY, although lower than the previous quarter.
• Regional Insights:
• National Capital Region (NCR): Prices increased by 4.3% YoY, driven by single-detached/attached houses and townhouses.
• Areas Outside the NCR (AONCR): Prices grew by 7.8% YoY, with all housing types except duplex units showing increases.
• Housing Type Analysis:
• Single-detached/attached houses had the highest YoY growth at 9.5%, while duplex units saw a decrease of 33.5%.
• Quarter-on-Quarter (QoQ): Townhouses recorded the only price increase at 4.5%, with duplex units declining the fastest by 42%.
• Loan Availments:
• YoY: Residential real estate loans grew by 30.5%, indicating continued interest in new housing units.
• QoQ: Nationwide housing loan availments increased by 26.9%, showing sustained market activity.
• Appraised Value:
• Average appraised value per square meter increased YoY, with notable variations between NCR and AONCR regions.
• Housing Unit Profile:
• Single-detached/attached houses remained the largest segment in residential real estate transactions.
These insights provide a comprehensive view of the evolving residential real estate landscape, highlighting opportunities and trends for buyers and investors alike. For a detailed analysis or to explore available properties.