The average rent price in the Cagayan region has had a strong fall in recent months. There has been a strong fall in the rent prices in this region.
The price per m² in Cagayan has fallen considerably in the last 6 months. During November, the average price per m² was ₱ 898. In December the price barely changed remaining at ₱ 898 per m². The following two months (January, February) went through a considerable fall of 84 % in the rent price per m² with regard to the previous two. In the last two months, the price per m² has had a significant fall of 71 %. This has been obtained by comparing the price of ₱ 826.5 for the first four months of the sample with regard to the previous 4 months and the price of ₱ 587.5 per m² for the last two months (March, April).
When referring to the price in Cagayan(region), there have hardly been any changes in the last 6 months. In the first month sample November the average price is ₱ 49,950. In December the price remains at ₱ 49,950. In the following two months the average price has fallen 68 % compared to the previous two. During the last two months the price has had a considerable rise of 151 % with respect to the previous four months going from ₱ 41,872.25 a ₱ 63,313.5.
The graph displaying the the average rent price per number of bedrooms shows that those with 4 bedrooms are the most affordable ones. They are 68 % cheaper than the average price in Cagayan followed by those with 1 with an average price of ₱ 17,921. The most expensive properties have 2 bedrooms. They are 39 % more expensive than the average followed by those properties with 1 bedroom priced at ₱ 17,921.
Based on the average price per m² those properties with 4 bedrooms are the most expensive ones with a price of ₱ 559 / m² being ₱ 400 / m² the average for Cagayan. The properties with the highest average price are those with 2 bedrooms. These are 82 % more expensive than the average followed by those with 1 bedroom with a price of ₱ 610 / m².
The graph displaying the average rent price according to the property type shows "Lot" as the most affordable one. With an average cost of ₱ 51,615 it is 68 % cheaper than the average in Cagayan. This is followed by "Condominium" with a cost of ₱ 71,113. The most expensive property type is "Condominium" and is 38 % more costly than the average, followed by "Lot" with a cost of ₱ 16,702.
Based upon the average cost per m² the most expensive property type is "Lot with a an average price of ₱ 559 / m², followed by "Condominium" with a price of ₱ 722 / m². "Condominium" with an average price of ₱ 722 / m² is the most expensive type of property followed by "Lot" at a price of ₱ 559 / m².
