The prices in real estate in Panglao, in the Bohol 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 Panglao has increased strongly during the last 6 months. In October, the average price per m² was ₱ 30,005. In the following month the price per m² increased to ₱ 32,263. The price for the following two months in (December, January) had a considerable increment of 327 %. The price per m² has had a considerable increase of 160 % 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 ₱ 66,467.75 to ₱ 106,274.5 during February, and March.
Based upon to the price in Panglao (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 24,177,387. In November This price remains at ₱ 24,456,447. During the following two months (December, January) the average price had a considerable reduction of 46 % 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 ₱ 17,737,788 to ₱ 7,770,436.5, which means a 44 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,947,275 they are 44 % more affordable than the average price for Panglao. The properties with the highest average price have 4 bedrooms, Their price is 38 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 7,866,706.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 41,541 / m², with an average ₱ 110,690 / m² price in Panglao. The properties with the highest average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 125,836 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 6,947,275 it is 56 % cheaper than the average price in Panglao. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 41,272,733 it is 2822 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 7,978 / m² followed by "House" priced at ₱ 39,685 / m². "Apartment" is the most costly type of property with a ₱ 299,580 / m² cost followed by "Commercial Lot" with an average price of ₱ 123,278 / m².
