The prices in real estate in Urdaneta, in the Pangasinan 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 Urdaneta has increased strongly during the last 6 months. In October, the average price per m² was ₱ 41,883. In the following month the price per m² decreased to ₱ 37,581. The price for the following two months in (December, January) had a considerable decrease of 78 with regard to the prior two months. The price per m² has had a considerable increase of 222 % 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 ₱ 35,332 to ₱ 78,569 during February, and March.
Based upon to the price in Urdaneta (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₱ 3,323,947. In November This price remains at ₱ 3,323,947. During the following two months (December, January) the average price fell 92 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 229 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 8,471,571 they are 80 % more affordable than the average price for Urdaneta. The properties with the lowest average price have 4 bedrooms, Their price is 42 % cheaper than the average. After that we have properties with 2 bedrooms priced at ₱ 3,879,407.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 55,521 / m², with an average ₱ 93,978 / m² price in Urdaneta. The properties with the lowest average prices have 1 bedroom. They are 6 % cheaper than the average followed by properties with 2 bedrooms with a price at ₱ 83,423 / m².
The graph displaying the average prices displays the property type "Farm House" as the most affordable one. At an cost of ₱ 8,471,571 it is 75 % cheaper than the average price in Urdaneta. "House" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House". At a price of ₱ 3,604,298 it is 111 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 4,158 / m² followed by "Farm House" priced at ₱ 20,923 / m². "House" is the cheapest type of property with a ₱ 55,408 / m² value followed by "Farm House" with an average price of ₱ 20,923 / m².
