The prices in real estate in Legazpi City, in the Legaspi 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 Legazpi City has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 93,289. In November this price pretty much remained the same at a value of ₱ 93,289 per m². The price for the following two months in (December, January) had a considerable decrease of 59 with regard to the prior two months. The price per m² has had a considerable deflation of 54 % 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 ₱ 73,975.5 to ₱ 39,593.5 during February, and March.
Based upon to the price in Legazpi City (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 8,244,625. In November This price remains at ₱ 8,244,625. During the following two months (December, January) the average price had a considerable reduction of 58 % 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 ₱ 6,517,153.5 to ₱ 3,759,935.5, which means a 58 % fall.
