The prices in real estate in Manila, in the Metro Manila region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Manila has remained the same in the last 6 months. In October, the average price per m² was ₱ 142,858. In November this price pretty much remained the same at a value of ₱ 136,854 per m². In the following two months the price per m² has increased 114 %, going from ₱ 139,856 to ₱ 159,445 per m². The price per m² has decreased 93 % 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 ₱ 149,650.5 to ₱ 139,882 during February, and March.
Based upon to the price in Manila (cities), this has fallen considerably in the last 6 months. The average price for October is ₱ 20,942,533. During November the price had a considerable reduction till ₱ 15,029,292. During the following two months (December, January) the average price had a considerable reduction of 34 % 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 ₱ 12,049,968 to ₱ 5,419,127, which means a 45 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 4,433,777 they are 15 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 347 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 7,912,826.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 78,988 / m², with an average ₱ 103,526 / m² price in Manila. The properties with the highest average prices have 1 bedroom. They are 27 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 91,419 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,433,777 it is 25 % cheaper than the average price in Manila. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 34,866,428 it is 2821 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 73,892 / m² followed by "House" priced at ₱ 79,178 / m². "Condominium" is the most costly type of property with a ₱ 156,141 / m² cost followed by "Commercial Lot" with an average price of ₱ 138,335 / m².
