The prices in real estate in Lapu-lapu, in the Cebu region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Lapu-lapu has increased strongly during the last 6 months. In September, the average price per m² was ₱ 125,224. In the following month the price per m² increased to ₱ 143,261. In the following two months the price per m² has increased 110 %, going from ₱ 134,242.5 to ₱ 147,117 per m². The price per m² has increased 106 % 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 ₱ 140,679.75 to ₱ 149,207 during January, and February.
Based upon to the price in Lapu-lapu (cities), this has fallen considerably in the last 6 months. In our first sample month during September, the average price is ₱ 13,655,702. In October This price remains at ₱ 14,203,507. During the following two months (November, December) the average price had a considerable reduction of 75 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 12,216,771 to ₱ 6,176,697.5, which means a 51 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,057,978 they are 9 % more affordable than the average price for Lapu-lapu. The properties with the highest average price have 4 bedrooms, Their price is 296 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 18,390,482.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 81,060 / m², with an average ₱ 150,654 / m² price in Lapu-lapu. The properties with the lowest average prices have 1 bedroom. They are 2 % cheaper than the average followed by properties with 3 bedrooms with a price at ₱ 142,368 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 6,057,978 it is 22 % cheaper than the average price in Lapu-lapu. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "Villa". At a price of ₱ 57,042,296 it is 1310 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 19,120 / m² followed by "Townhouse" priced at ₱ 57,859 / m². "Villa" is the most costly type of property with a ₱ 328,178 / m² cost followed by "Condominium" with an average price of ₱ 143,366 / m².