The prices in real estate in Bacolod, in the Negros Occidental 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 Bacolod has increased strongly during the last 6 months. In October, the average price per m² was ₱ 89,883. In the following month the price per m² increased to ₱ 96,036. The price for the following two months in (December, January) had a considerable increment of 169 %. The price per m² has had a considerable increase of 134 % 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 ₱ 125,170.25 to ₱ 167,577 during February, and March.
Based upon to the price in Bacolod (cities), this has gone downing the last 6 months. In our first sample month during October, the average price is ₱ 5,097,409. In November This price remains at ₱ 4,942,471. During the following two months (December, January) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from ₱ 4,866,590 to ₱ 4,527,783.5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 4,487,111 they are 9 % more affordable than the average price for Bacolod. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 6,116,869.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 64,154 / m², with an average ₱ 166,297 / m² price in Bacolod. The properties with the highest average prices have 1 bedroom. They are 1 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 92,679 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 4,487,111 it is 44 % cheaper than the average price in Bacolod. "Condominium" is seen as the second most affordable property type. The dearest property type is "House" followed by "Lot". At a price of ₱ 3,667,623 it is 0 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 32,914 / m² followed by "Townhouse" priced at ₱ 58,068 / m². "Condominium" is the cheapest type of property with a ₱ 110,565 / m² value followed by "House" with an average price of ₱ 64,156 / m².
