The rent prices in real estate in Pasay, in the Metro Manila region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Pasay has had a strong fall during the last 6 months. In September, the average price per m² was ₱ 1,454.6. In the following month the price per m² rose to ₱ 1,634.69. The price for the following two months in (November, December) had a considerable fall of 70 with regard to the previous two months. The price per m² has had a considerable fall of 72 % 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 ₱ 1,311.49 to ₱ 946.65 during January, and February.
When referring to the price in Pasay (cities), this has fallen considerably in the last 6 months. The average price for September is ₱ 143,320. During October the price had a considerable fall till ₱ 64,377. During the following two months (November, December) the average price had a considerable fall of 85 % 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 ₱ 96,006.5 to ₱ 32,906, which means a 34 % 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 ₱ 32,931 they are 8 % more affordable than the average price for Pasay . The properties with the highest average price have 3 bedrooms, Their price is 160 % more expensive than the average. After that we have properties with 4 bedrooms priced at ₱ 60,456.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of ₱ 456 / m², with an average ₱ 944.01 / m² price in Pasay. The properties with the most expensive average prices have 1 bedroom. They are 5 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 876.28 / m².
The graph displaying the average rent prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 32,931 it is 13 % more affordable than the average price in Pasay. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Commercial Lot". At a price of ₱ 81,750 it is 164 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of ₱ 440 / m² followed by "Townhouse" priced at ₱ 593 / m². "Condominium" is the most affordable type of property with a ₱ 830 / m² value followed by "Commercial Lot" with an average price of ₱ 752 / m².