The rent prices in real estate in Cebu, in the Cebu City region have barely changed in the last couple of months. There have hardly been any changes in the rent prices in this city.
The price per m² in Cebu has barely changed in the last 6 months. In October, the average price per m² was ₱ 618.82. In November this price barely changed remaining at ₱ 602.15 per m². In the following two months the price per m² has risen 112 %, going from ₱ 610.48 to ₱ 685.15 per m². The price per m² has fallen 93 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 647.82 to ₱ 600.35 during February, and March.
When referring to the price in Cebu (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 91,673. In November This price remains at ₱ 91,610. During the following two months (December, January) the average price had a considerable fall of 76 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₱ 80,446.5 to ₱ 44,920.5, which means a 56 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of ₱ 37,963 they are 11 % more affordable than the average price for Cebu . The properties with the highest average price have 4 bedrooms, Their price is 152 % more expensive than the average. After that we have properties with 3 bedrooms priced at ₱ 90,000.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of ₱ 284.02 / m², with an average ₱ 520.56 / m² price in Cebu. The properties with the most expensive average prices have 1 bedroom. They are 63 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 682.12 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of ₱ 37,963 it is 21 % more affordable than the average price in Cebu. "Condominium" is seen as the second most affordable property type. The most expensive property type is "Lot" followed by "Commercial Lot". At a price of ₱ 69,238 it is 86 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Commercial Lot" at an average price of ₱ 282.06 / m² followed by "Lot" priced at ₱ 461.68 / m². "Condominium" is the most expensive type of property with a ₱ 805.43 / m² value followed by "House" with an average price of ₱ 575.4 / m².
