The prices in real estate in Baguio City, in the Baguio City 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 Baguio City has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 109,510. In November this price pretty much remained the same at a value of ₱ 107,766 per m². The price for the following two months in (December, January) had a considerable decrease of 45 with regard to the prior two months. The price per m² has had a considerable deflation of 65 % 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 ₱ 78,682.25 to ₱ 51,535 during February, and March.
Based upon to the price in Baguio City (cities), this has fallen considerably in the last 6 months. The average price for October is ₱ 8,362,893. During November the price had a considerable reduction till ₱ 5,556,826. During the following two months (December, January) the average price had a considerable reduction of 52 % 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 ₱ 5,278,453 to ₱ 4,225,414, which means a 80 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the most costly ones. At a price of ₱ 4,200,861 they are 1 % more expensive than the average price for Baguio City. Following this ranking we find those properties with 2 at an average price of ₱ 5,338,824. The properties with the highest average price have 4 bedrooms, Their price is 214 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,685,710.
With regard to the average price per m² , those properties with 3 bedrooms are the most costly ones at a cost of ₱ 67,292 / m², with an average ₱ 61,851 / m² price in Baguio City. The properties with the highest average prices have 1 bedroom. They are 125 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 96,358 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 4,200,861 it is 29 % cheaper than the average price in Baguio City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "House". At a price of ₱ 11,666,137 it is 1203 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 20,475 / m² followed by "House" priced at ₱ 50,035 / m². "Townhouse" is the most costly type of property with a ₱ 88,961 / m² cost followed by "Apartment" with an average price of ₱ 75,490 / m².
