The prices in real estate in Manila, in the Metro Manila 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 Manila has had a strong decrease during the last 6 months. In September, the average price per m² was ₱ 89,276. In the following month the price per m² decreased considerably to ₱ 53,329. The price for the following two months in (November, December) had a considerable decrease of 65 with regard to the prior two months. The price per m² has had a considerable increase of 128 % 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 ₱ 58,968.25 to ₱ 75,682 during January, and February.
Based upon to the price in Manila (cities), these have remained the same in the last 6 months. The average price for September is ₱ 3,700,567. During October the price had a considerable reduction till ₱ 2,837,321. During the following two months (November, December) the price has had an average incrementation from ₱ 3,268,944 to ₱ 3,433,900.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 136 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 4,112,466 they are 0 % more affordable than the average price for Manila. The properties with the highest average price have 1 bedroom, Their price is 19 % more costly than the average. After that we have properties with 2 bedrooms priced at ₱ 4,112,466.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 79,573 / m², with an average ₱ 79,573 / m² price in Manila. The properties with the highest average prices have 1 bedroom. They are 1 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 79,573 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 4,112,466 it is 0 % cheaper than the average price in Manila. "Apartment" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Condominium". At a price of ₱ 4,112,466 it is 19 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Condominium" at an average cost of ₱ 79,573 / m² followed by "Apartment" priced at ₱ 80,343 / m². "Apartment" is the most costly type of property with a ₱ 80,343 / m² cost followed by "Condominium" with an average price of ₱ 79,573 / m².