The rent prices in real estate in Manila, in the Metro Manila region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per m² in Manila has fallen during the last 6 months. In March, the average price per m² was ₱ 700.5. In April this price barely changed remaining at ₱ 685.87 per m². In the following two months the price per m² has practically remained the same, going from ₱ 693.18 to ₱ 671.09 per m². The price per m² has had a considerable fall of 85 % 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 ₱ 682.14 to ₱ 576.51 during July, and August.
When referring to the price in Manila (cities), there have hardly been any changes in the last 6 months. In our first sample month during March, the average price is ₱ 23,194. In April This price remains at ₱ 24,323. During the following two months (May, June) the price has had an average rise from ₱ 23,758.5 to ₱ 25,198.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from ₱ 24,478.5 to ₱ 22,460 in July and August.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of ₱ 22,808 they are 32 % more affordable than the average price for Manila . The properties with the highest average price have 3 bedrooms, Their price is 140 % more expensive than the average. After that we have properties with 4 bedrooms priced at ₱ 48,200.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of ₱ 393.28 / m², with an average ₱ 587.04 / m² price in Manila. The properties with the most expensive average prices have 2 bedrooms. They are 15 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 629.03 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 22,808 it is 20 % more affordable than the average price in Manila. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Commercial Lot". At a price of ₱ 47,799 it is 247 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Townhouse" at an average price of ₱ 132.99 / m² followed by "Commercial Lot" priced at ₱ 217.45 / m². "Condominium" is the most expensive type of property with a ₱ 668.94 / m² value followed by "House And Lot" with an average price of ₱ 664 / m².