The prices in real estate in Lipa City, in the Lipa City region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Lipa City has fallen in the last 6 months. In October, the average price per m² was ₱ 44,693. In November this price pretty much remained the same at a value of ₱ 42,573 per m². In the following two months the price per m² has barely changed, going from ₱ 43,633 to ₱ 44,052.5 per m². The price per m² has had a considerable deflation of 81 % 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 ₱ 43,842.75 to ₱ 35,558 during February, and March.
Based upon to the price in Lipa City (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 7,360,207. In November This price remains at ₱ 7,371,935. In the following two months the average price has remained the same with regard to the previous two months from ₱ 7,366,071 to ₱ 7,100,258.5. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 7,233,165 to ₱ 4,365,807.5, which means a 60 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 3,353,093 they are 52 % more affordable than the average price for Lipa City. The properties with the highest average price have 4 bedrooms, Their price is 106 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 3,823,727.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of ₱ 33,193 / m², with an average ₱ 31,479 / m² price in Lipa City. The properties with the highest average prices have 4 bedrooms. They are 77 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 52,045 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 3,353,093 it is 44 % cheaper than the average price in Lipa City. "House" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 25,949,806 it is 7709 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Lot" at an average cost of ₱ 32,180 / m² followed by "House" priced at ₱ 33,659 / m². "Condominium" is the most costly type of property with a ₱ 177,423 / m² cost followed by "Commercial Lot" with an average price of ₱ 81,597 / m².
