The prices in real estate in Balamban, in the Cebu region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Balamban has had a strong decrease during the last 6 months. In July, the average price per m² was ₱ 56,549. In the following month the price per m² decreased to ₱ 52,452. The price for the following two months in (September, October) had a considerable decrease of 74 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 47,413 to ₱ 45,764.5 during November y December
Based upon to the price in Balamban (cities), this has fallen considerably in the last 6 months. In our first sample month during July, the average price is ₱ 16,109,756. In August This price remains at ₱ 15,682,430. During the following two months (September, October) the average price had a considerable reduction of 60 % 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 87 %, going from ₱ 12,756,582 to ₱ 11,114,610 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 12,474,357 they are 95 % more affordable than the average price for Balamban. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 13,636,975.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of ₱ 25,528 / m², with an average ₱ 48,570 / m² price in Balamban. The properties with the highest average prices have 4 bedrooms. They are 13 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 52,519 / m².
With regard to the average price based upon the property in Balamban we can see that most expensive property type is "House" at a price of ₱ 15,109,130, they are 21 % more costly than the average price of (!PRECIO2!). "House" has the highest price. This price is 21 % more expensive than the average price aforementioned.
According to the average area price by m² the most costly property type is "House with an average price of ₱ 54,234 / m². "House" at an average price of ₱ 54,234 / m² has the most expensive price and would be directed at more affluent cities.