Manila’s prime residential prices grew by 1.2% year on year in the third quarter of 2022. This was slower compared from the 8.4% in the same period a year ago, latest report from the London-headquartered real estate consultancy firm Knight Frank showed. The Philippine capital ranked 35th out of 45 cities included in the latest edition of the Prime Global Cities Index. This was higher compared from the previous quarter (rank 40th), however, it dropped 15 places from 20th a year ago. The quarterly report tracks the performance of prime global cities in terms of luxury residential prices. The valuation-based index does not only track movement of prime residential prices but also tracks nominal prices in their local currency.