Prices of residential real estate rose 7.5 percent year-on-year in the second quarter, driven by higher prices in the provinces, the central bank said in a report. The BSP said areas outside of the national capital region (AONCR) contributed to the higher RPPI with an 11.5 percent increase, compared with a 2.4 percent rise in NCR prices. The latest provincial property prices were higher than the first quarter’s 3 percent, while the NCR prices dropped from 13.9 percent in the first three months. House prices in the Greater Manila Area rose 13.2 percent, the strongest growth since 2000, the BSP said. Metro Manila houses showed an average price of P7.01 million, while houses in other areas were priced at P2.67 million.