The rapid growth of property prices in the Greater Manila Area is attracting more developers and investors, gradually closing the window of opportunity to “buy more for less” for ordinary homebuyers, an analysis by MyProperty.ph and recent data from the Bangko Sentral ng Pilipinas (BSP) showed.

Data from the BSP’s Residential Real Estate Price Index (RREPI) showed that from the second quarter of last year, the growth in residential property prices in areas outside the National Capital Region (NCR) outpaced growth in the metro area. For the third and fourth quarters of 2016, prices for all types of real estate actually declined in NCR, by 0.2 percent and 1.1 percent, respectively. In areas outside the NCR, by contrast, real estate prices grew by 4.9 percent and 1.7 percent in the same periods.

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