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 October, the average price per m² was ₱ 56,298. In the following month the price per m² increased considerably to ₱ 69,236. The price for the following two months in (December, January) had a considerable increment of 405 %. The price per m² has had a considerable increase of 184 % 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 ₱ 158,341.75 to ₱ 290,882.5 during February, and March.
Based upon to the price in Baguio (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is ₱ 10,964,394. During November the price went through a considerable rise reaching ₱ 13,017,560. During the following two months (December, January) the price has had an average incrementation from ₱ 11,990,977 to ₱ 12,948,910. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of ₱ 15,059,692 they are 13 % more affordable than the average price for Baguio. The properties with the highest average price have 2 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 1 bedroom priced at ₱ 18,367,961.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 76,061 / m², with an average ₱ 296,948 / m² price in Baguio. The properties with the highest average prices have 1 bedroom. They are 35 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 253,962 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 15,059,692 it is 84 % cheaper than the average price in Baguio. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Apartment". At a price of ₱ 20,231,867 it is 444 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 21,629 / m² followed by "Apartment" priced at ₱ 51,742 / m². "Townhouse" is the cheapest type of property with a ₱ 81,705 / m² value followed by "Condominium" with an average price of ₱ 78,752 / m².
