The prices in real estate in Bacolod City, in the Bacolod City region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Bacolod City has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 69,313. In November this price pretty much remained the same at a value of ₱ 70,193 per m². The price for the following two months in (December, January) had a considerable decrease of 64 with regard to the prior two months. The price per m² has had a considerable deflation of 69 % 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 ₱ 57,338 to ₱ 39,805 during February, and March.
Based upon to the price in Bacolod City (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is ₱ 4,529,249. In November This price remains at ₱ 4,440,088. In the following two months the average price has remained the same with regard to the previous two months from ₱ 4,484,668.5 to ₱ 4,694,823. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from ₱ 4,589,746 to ₱ 3,956,311 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 4,030,308 they are 34 % more affordable than the average price for Bacolod City. The properties with the highest average price have 4 bedrooms, Their price is 181 % more costly than the average. After that we have properties with 1 bedroom priced at ₱ 5,763,533.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of ₱ 42,284 / m², with an average ₱ 40,312 / m² price in Bacolod City. The properties with the highest average prices have 1 bedroom. They are 358 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 50,748 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 4,030,308 it is 29 % cheaper than the average price in Bacolod City. "House And Lot" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "Condominium". At a price of ₱ 4,767,229 it is 39 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 16,720 / m² followed by "House" priced at ₱ 41,770 / m². "Condominium" is the most costly type of property with a ₱ 164,836 / m² cost followed by "Townhouse" with an average price of ₱ 56,851 / m².
