The prices in real estate in Makati, in the Metro Manila region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Makati has remained the same in the last 6 months. In October, the average price per m² was ₱ 241,897. In November this price pretty much remained the same at a value of ₱ 251,607 per m². In the following two months the price per m² has barely changed, going from ₱ 246,752 to ₱ 245,083 per m². The price per m² has decreased 85 % 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 ₱ 245,917.5 to ₱ 209,642.5 during February, and March.
Based upon to the price in Makati (cities), this has fallen considerably in the last 6 months. The price in October is ₱ 22,622,813, rising in November till ₱ 24,324,978. During the following two months (December, January) 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 ₱ 20,511,204 to ₱ 12,171,436, which means a 59 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 9,642,856 they are 32 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 2753 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 27,510,363.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 175,491 / m², with an average ₱ 178,266 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 220 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 188,734 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 9,642,856 it is 58 % cheaper than the average price in Makati. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House". At a price of ₱ 172,127,305 it is 3273 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 91,479 / m² followed by "Commercial Lot" priced at ₱ 183,355 / m². "Lot" is the most costly type of property with a ₱ 373,907 / m² cost followed by "House" with an average price of ₱ 364,192 / m².
