The prices in real estate in Parañaque, in the Metro Manila region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Parañaque has increased during the last 6 months. In October, the average price per m² was ₱ 123,699. In November this price pretty much remained the same at a value of ₱ 119,325 per m². The price for the following two months in (December, January) had a considerable increment of 132 %. The price per m² has decreased 90 % 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 ₱ 141,059.25 to ₱ 126,495 during February, and March.
Based upon to the price in Parañaque (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 16,295,240. In November This price remains at ₱ 15,562,675. During the following two months (December, January) the average price had a considerable reduction of 37 % 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 ₱ 10,933,166 to ₱ 5,294,314, which means a 48 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 4,256,577 they are 23 % more affordable than the average price for Parañaque. The properties with the highest average price have 4 bedrooms, Their price is 289 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 7,370,849.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 60,139 / m², with an average ₱ 83,730 / m² price in Parañaque. The properties with the highest average prices have 1 bedroom. They are 67 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 69,503 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,256,577 it is 36 % cheaper than the average price in Parañaque. "House" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 40,060,521 it is 1676 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 45,425 / m² followed by "Apartment" priced at ₱ 53,582 / m². "Condominium" is the most costly type of property with a ₱ 153,251 / m² cost followed by "Commercial Lot" with an average price of ₱ 149,566 / m².
