Array
Money Matters

Here Are The Types of Houses You Should Invest In

Average housing prices fell in the second quarter from a year ago but some types of residential units continue to rise

Shares
Photography: Jilson Tiu (Main Photo)

For the first time since the Bangko Sentral ng Pilipinas (BSP) started reporting its Residential Real Estate Price Index (RREPI) in 2014, the widely watched indicator fell 4.6 percent from year-ago levels in the second quarter.

The RREPI, which is considered the most authoritative indicator of average housing prices in the Philippines, has been growing steadily from year-ago levels since at least the second quarter of 2016. From the second quarter of 2016 to the first quarter of 2017, the index went up by an average of 3.8 percent on an annual basis. Compared to the previous quarter, the RREPI also fell by 0.1 percent in the second quarter.

It remains to be seen if the year-on-year decline in RREPI signals a prolonged softening of housing prices in the Philippines. Property brokers and consultants still believe that the country’s positive economic outlook and the growth in demand for properties will continue to push residential property prices upwards in the next few years.

ADVERTISEMENT - CONTINUE READING BELOW

However, certain types of housing units continue to enjoy strong price growth.

Duplex houses in NCR still posted an 11.9-percent increase in the second quarter from a year ago. The same type of houses in other regions rose by 7.2 percent from the previous year.

Even residential condominiums, perhaps the most popular of the various types of housing units, continued to go up by 5.2 percent from a year ago in NCR and a stronger 7.1 percent outside Metro Manila.

Single detached houses eased the most, with units in Metro Manila going down by 6.1 percent from a year ago while units outside the region dropped 10.3 percent. Townhouses in Metro Manila also fell a slight 0.9 percent from a year ago but the same housing type went up by 5.5 percent outside the NCR.

 

The BSP has published the RREPI since the second quarter of 2015. It gathers data from housing loan reports submitted by its member banks. In a media release published September 29, 2017, it added that over 75 percent of real estate loans in Q2 2017 were for purchasing new houses.

ADVERTISEMENT - CONTINUE READING BELOW

 

 

*****

 

Lorenzo Kyle Subido is a staff writer of Entrepreneur PH

 

This story originally appeared on Entrepreneur.com.ph.

* Minor edits have been made by the Realliving.com.ph editors.

More on Realliving.com.ph

Shares

Latest Stories

How to Fake Natural Light When Your Home Doesn't Have a Lot of Windows

Avoid dark, heavy window treatments and keep furniture away from windows.

How to Live With Less? Stop Buying Things Just Because It's on Sale for Starters

The journey toward minimalism can be challenging, but it will be worth it.

Look Forward to Laundry Day With These Nifty Hacks

Make this dreaded household chore more manageable with these must-dos

This 28sqm Studio Unit in Bacolod is Perfect for Staycations

The design team created a compact yet inviting small home with a warmth that matches the vibe of the City of Smiles

7 Plants That Can Help You Keep Dengue Away

You need to do more than just plant them outside your home

Make Your Home Smell Like a Fancy Hotel for Less Than P700!

Shop for scented candles, room sprays, and more essentials while maintaining your budget

10 Things You Need to Clean to Avoid a Stinky Home

We tend to overlook how scent contributes to the first impression our house makes on guests �" or on us!

5 Organizing Ideas We Can Learn from this Family Home in San Juan

This home doesn't just have picture-perfect rooms. Let it inspire you to get organized.

Amoy Kulob at Mabaho? Here Are Ways to Keep Your Home Smelling Fresh

Because a beautiful house needs to smell good, too

Those School Buildings We Grew Up With Are Called Gabaldons

The President recently signed a law that mandates their conservation

These Are The Reasons Why You Have a Messy Home

Manage the clutter in your house with these tips from an interior designer

Which One is Best for Your Home: A Diffuser or A Humidifier?

Here is a quick guide between a diffuser and humidifier to help you decide which one is better for your space
Load More Stories

Get inspiring design ideas and handy hints.
Subscribe to our newsletter now!