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 August, the average price per m² was ₱ 1,102.82. In the following month the price per m² fell to ₱ 981.93. In the following two months the price per m² has risen 112 %, going from ₱ 1,042.38 to ₱ 1,164.72 per m². The price per m² has had a considerable fall of 55 % 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 ₱ 1,103.55 to ₱ 607.91 during December, and January.
When referring to the price in Mactan (cities), this has fallen considerably in the last 6 months. The average price for August is ₱ 48,833. During September the price had a considerable fall till ₱ 40,000. During the following two months (October, November) the average price had a considerable rise of 115 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from ₱ 47,802 to ₱ 27,166.5, which means a 57 % fall.