Residential real estate prices rebound in Q4 2024

BSP Philippine Residential Real Estate Price Index Q4 2024

MANILA, Philippines — Residential real estate prices in the country recovered in the last quarter of 2024, growing by 6.7 percent year-on-year versus a 2.3-percent annual contraction in the third quarter.

This is based on the quarterly residential real estate price index of the Bangko Sentral ng Pilipinas.

On a quarter-on-quarter basis, home prices also saw a significant turnaround, rising 5.3 percent after a 1.6 percent drop in the previous quarter of 2024.

READ: Philippine home prices contract for first time in 3 years

The price increase was more pronounced in areas outside the National Capital Region (NCR), where residential property values rose 9.3 percent year-on-year, driven by all housing types, except townhouses.

In contrast, property prices in NCR experienced a 0.4 percent contraction, albeit improving from the 14.6-percent drop in the previous quarter.

The decline in townhouse prices in the NCR offset gains in single-detached/attached houses and condominium units.