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 September, the average price per m² was ₱ 69,415. In the following month the price per m² increased to ₱ 74,049. In the following two months the price per m² has increased 112 %, going from ₱ 71,732 to ₱ 80,371 per m². The price per m² has had a considerable increase of 118 % 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 ₱ 76,051.5 to ₱ 89,854 during January, and February.
Based upon to the price in Baguio (cities), this has gone downing the last 6 months. In our first sample month during September, the average price is ₱ 6,032,550. In October This price remains at ₱ 6,021,210. During the following two months (November, December) the average price fell 92 % 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 91 %, going from ₱ 5,788,081 to ₱ 5,257,891.5 in January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 4,757,414 they are 39 % more affordable than the average price for Baguio. The properties with the highest average price have 4 bedrooms, Their price is 131 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 5,875,135.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 57,997 / m², with an average ₱ 92,830 / m² price in Baguio. The properties with the highest average prices have 1 bedroom. They are 16 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 100,132 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,757,414 it is 27 % cheaper than the average price in Baguio. "Condominium" is seen as the second most affordable property type. The dearest property type is "House" followed by "Farm House". At a price of ₱ 5,752,610 it is 110 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 51,862 / m² followed by "Farm House" priced at ₱ 86,791 / m². "Condominium" is the most costly type of property with a ₱ 111,168 / m² cost followed by "Apartment" with an average price of ₱ 107,644 / m².