The rent prices in real estate in Pasay, in the Metro Manila region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Pasay has had a strong fall during the last 6 months. In October, the average price per m² was ₱ 1,634.69. In the following month the price per m² fell considerably to ₱ 1,197.31. The price for the following two months in (December, January) had a considerable fall of 67 with regard to the previous two months. The price per m² has had a considerable fall of 74 % 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 ₱ 1,185.17 to ₱ 880.58 during February, and March.
When referring to the price in Pasay (cities), this has fallen in the last 6 months. The average price during our first sample month during October, is ₱ 64,377. During November the price went through a considerable rise reaching ₱ 142,974. During the following two months (December, January) the average price had a considerable fall of 32 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₱ 68,396.75 to ₱ 33,751, which means a 49 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of ₱ 34,571 they are 13 % more affordable than the average price for Pasay . The properties with the highest average price have 3 bedrooms, Their price is 148 % more expensive than the average. After that we have properties with 4 bedrooms priced at ₱ 60,395.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of ₱ 455 / m², with an average ₱ 817.14 / m² price in Pasay. The properties with the most expensive average prices have 1 bedroom. They are 9 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 759 / m².
The graph displaying the average rent prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 34,571 it is 17 % more affordable than the average price in Pasay. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Commercial Lot". At a price of ₱ 81,668 it is 151 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of ₱ 439 / m² followed by "Townhouse" priced at ₱ 592 / m². "Condominium" is the most expensive type of property with a ₱ 829 / m² value followed by "Commercial Lot" with an average price of ₱ 751 / m².
