The Philippine Central Bank, Bangko Sentral ng Pilipinas (BSP,) has confirmed it plans to make property and real estate information available to the public before the end of this month.
In an email statement issued to PropertyGuru, a spokesperson for the bank said the Residential Real Estate Price Index (RREPI) has been updated to include data from January 2013 until to March 2015.
“The current version of real estate price index which covers areas in the National Capital Region (NCR) is classified into four types of housing units, such as single, duplex, apartments and residential condominium units and is based on construction materials and combined construction materials and building permits.
“The series based on construction materials runs from January 2000 to March 2015, and that based on combined construction materials and building permits covers January 2007 to December 2014.
“Both series should be available to the public before the end of the second quarter,” the spokesperson added.
“At the same time, the BSP is of the view that the current version of the real estate price index, which is based to a large extent on the cost of construction materials, should also be complemented by housing demand indicators, such as value of land and features of residential units such as floor area, number of bedrooms and effective age of housing unit.
“The series should also include areas outside the NCR.
“To this end, the BSP has initiated the groundwork for a comprehensive measure of real estate price index to include such features based on banks’ housing loan applications.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
