The prices in real estate in Baguio, in the Benguet 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 Baguio has increased strongly during the last 6 months. In March, the average price per m² was ₱ 89,805. In April this price pretty much remained the same at a value of ₱ 92,469 per m². The price for the following two months in (May, June) had a considerable increment of 118 %. The price per m² has had a considerable increase of 144 % 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 ₱ 99,422 to ₱ 143,201.5 during July, and August.
Based upon to the price in Baguio (cities), this has gone up considerably in the last 6 months. In our first sample month during March, the average price is ₱ 5,266,115. In April This price remains at ₱ 5,093,669. During the following two months (May, June) the average price had a considerable increase of 156 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 6,625,784 to ₱ 4,650,279, which means a 70 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 4,629,069 they are 13 % more affordable than the average price for Baguio. The properties with the highest average price have 4 bedrooms, Their price is 154 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,215,763.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 66,924 / m², with an average ₱ 144,647 / m² price in Baguio. The properties with the highest average prices have 1 bedroom. They are 5 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 124,765 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 4,629,069 it is 11 % cheaper than the average price in Baguio. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of ₱ 5,649,930 it is 156 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 50,267 / m² followed by "House" priced at ₱ 57,154 / m². "Condominium" is the most costly type of property with a ₱ 152,378 / m² cost followed by "Apartment" with an average price of ₱ 102,642 / m².