The prices in real estate in Bay, in the Laguna 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 Bay has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 23,426. In the following month the price per m² decreased considerably to ₱ 19,004. The price for the following two months in (December, January) had a considerable decrease of 70 with regard to the prior two months. The price per m² has had a considerable deflation of 39 % 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 ₱ 18,011.25 to ₱ 6,963 during February, and March.
Based upon to the price in Bay (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 6,178,833. In November This price remains at ₱ 6,128,167. During the following two months (December, January) the average price had a considerable reduction of 54 % 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 ₱ 4,730,854 to ₱ 840,591, which means a 18 % fall.