The prices in real estate in Benguet, in the Benguet 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 Benguet has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 67,342. In November this price pretty much remained the same at a value of ₱ 65,382 per m². In the following two months the price per m² has barely changed, going from ₱ 66,362 to ₱ 66,063 per m². The price per m² has had a considerable deflation of 50 % 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 ₱ 66,212.5 to ₱ 32,936.5 during February, and March.
Based upon to the price in Benguet (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is ₱ 5,439,300. In November This price remains at ₱ 5,475,813. During the following two months (December, January) the average price had a considerable increase of 143 % 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 ₱ 6,632,353 to ₱ 3,577,856, which means a 54 % fall.
