Residential real estate prices in the Philippines rose 6.1 percent year-on-year in the first quarter of 2024, following a 6.5-percent growth in the fourth quarter of 2023.
Areas outside the NCR saw a sharper increase of 7.4-percent YoY, with all housing types experiencing annual growth. However, quarter-on-quarter growth was stronger in AONCR compared to the NCR . The total number of RRELs granted rose 5 percent YoY, with growth in AONCR offsetting a decline in the NCR. The total number of transactions decreased 23.2 percent QoQ for similar reasons.
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