The prices in real estate in Quezon City, in the Metro Manila 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 Quezon City has had a strong decrease during the last 6 months. In November, the average price per m² was ₱ 91,030. In the following month the price per m² decreased considerably to ₱ 73,539. The price for the following two months in (January, February) decreased 85 % 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 ₱ 76,297.75 to ₱ 72,890.5 during March y April
Based upon to the price in Quezon City (cities), this has fallen considerably in the last 6 months. In our first sample month during November, the average price is ₱ 10,757,467. In December This price remains at ₱ 10,280,077. During the following two months (January, February) the average price had a considerable reduction of 78 % 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 ₱ 9,338,165 to ₱ 4,445,649.5, which means a 48 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 4,166,310 they are 34 % more affordable than the average price for Quezon City. The properties with the highest average price have 4 bedrooms, Their price is 142 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 5,284,811.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 65,330 / m², with an average ₱ 77,020 / m² price in Quezon City. The properties with the highest average prices have 1 bedroom. They are 7 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 81,799 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,166,310 it is 23 % cheaper than the average price in Quezon City. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House And Lot". At a price of ₱ 23,080,517 it is 1887 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 63,795 / m² followed by "Apartment" priced at ₱ 65,353 / m². "Condominium" is the most costly type of property with a ₱ 128,407 / m² cost followed by "Lot" with an average price of ₱ 110,019 / m².
