The prices in real estate in Iloilo City, in the Iloilo region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Iloilo City has increased strongly during the last 6 months. In October, the average price per m² was ₱ 77,696. In November this price pretty much remained the same at a value of ₱ 78,653 per m². The price for the following two months in (December, January) had a considerable increment of 143 %. The price per m² has had a considerable increase of 133 % 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 ₱ 94,949 to ₱ 126,620 during February, and March.
Based upon to the price in Iloilo City (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₱ 3,785,230. In November This price remains at ₱ 3,900,356. During the following two months (December, January) the average price had a considerable increase of 116 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of ₱ 4,960,750 they are 8 % more affordable than the average price for Iloilo City. The properties with the highest average price have 2 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 4 bedrooms priced at ₱ 5,494,321.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 55,782 / m², with an average ₱ 128,570 / m² price in Iloilo City. The properties with the highest average prices have 1 bedroom. They are 24 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 137,925 / m².
The graph displaying the average prices displays the property type "House And Lot" as the most affordable one. At an cost of ₱ 4,960,750 it is 57 % cheaper than the average price in Iloilo City. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House". At a price of ₱ 4,567,773 it is 34 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 18,495 / m² followed by "House And Lot" priced at ₱ 37,635 / m². "Condominium" is the most costly type of property with a ₱ 137,192 / m² cost followed by "Townhouse" with an average price of ₱ 67,612 / m².
