The rent prices in real estate in Mactan, in the Cebu region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Mactan has had a strong fall during the last 6 months. In February, the average price per m² was ₱ 825.54. In March this price barely changed remaining at ₱ 834.13 per m². In the following two months the price per m² has practically remained the same, going from ₱ 829.84 to ₱ 834.84 per m². The price per m² has had a considerable fall of 50 % 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 ₱ 832.34 to ₱ 413.01 during June, and July.
When referring to the price in Mactan (cities), this has fallen considerably in the last 6 months. The average price for February is ₱ 35,333. During March the price had a slight fall till ₱ 33,350. In the following two months the average price has hardly changed with regard to the previous two months from ₱ 34,341.5 to ₱ 33,750. During the last two months the average price has fallen greatly compared to the previous four going from ₱ 34,045.75 to ₱ 17,454.5, which means a 51 % fall.