Manila, March 28 -- Nationwide residential property prices in the fourth quarter of 2024 increased to 6.7 percent, a turnaround from a 2.3 percent contraction in the third quarter of the same year, the Bangko Sentral ng Pilipinas (BSP) reported Friday.

BSP said the increase in residential real estate prices was driven by the higher prices in areas outside the National Capital Region (AONCR), which rose 9.3 percent in the fourth quarter last year.

Prices in NCR slipped by 0.4 percent in the same period.

Across all housing types, only townhouses recorded a decline in prices in the last quarter of 2024, down by 3.4 percent.

In Q4 2024, single-detached/attached house prices improved by 12.8 percent while condominium prices also increased ...