The prices in real estate in Davao, in the Davao 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 Davao has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 56,275. In November this price pretty much remained the same at a value of ₱ 56,477 per m². The price for the following two months in (December, January) had a considerable decrease of 71 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 48,134.5 to ₱ 49,514 during February y March
Based upon to the price in Davao (cities), this has gone up considerably in the last 6 months. The price in October is ₱ 5,050,834, rising in November till ₱ 5,550,184. In the following two months the average price has remained the same with regard to the previous two months from ₱ 5,300,509 to ₱ 5,137,722.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 131 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 7,960,508 they are 75 % more affordable than the average price for Davao. The properties with the highest average price have 4 bedrooms, Their price is 44 % more costly than the average. After that we have properties with 1 bedroom priced at ₱ 5,256,422.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 33,070 / m², with an average ₱ 61,105 / m² price in Davao. The properties with the highest average prices have 1 bedroom. They are 137 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 58,133 / m².
The graph displaying the average prices displays the property type "Commercial Lot" as the most affordable one. At an cost of ₱ 7,960,508 it is 58 % cheaper than the average price in Davao. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "Office". At a price of ₱ 13,432,000 it is 148 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 35,146 / m² followed by "Office" priced at ₱ 50,124 / m². "Condominium" is the most costly type of property with a ₱ 128,998 / m² cost followed by "Lot" with an average price of ₱ 64,898 / m².
