The prices in real estate in Binangonan, in the Rizal 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 Binangonan has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 53,594. In the following month the price per m² decreased considerably to ₱ 43,649. The price for the following two months in (December, January) decreased 87 % with regard to the prior two months. The price per m² has decreased 94 % 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 ₱ 45,400.25 to ₱ 42,567 during February, and March.
Based upon to the price in Binangonan (cities), this has gone downing the last 6 months. In our first sample month during October, the average price is ₱ 6,364,402. In November This price remains at ₱ 6,410,911. During the following two months (December, January) the average price had a considerable reduction of 77 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 113 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 6,656,897 they are 71 % more affordable than the average price for Binangonan. The properties with the highest average price have 4 bedrooms, Their price is 230 % more costly than the average. After that we have properties with 1 bedroom priced at ₱ 3,384,779.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 37,352 / m², with an average ₱ 42,067 / m² price in Binangonan. The properties with the highest average prices have 1 bedroom. They are 79 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 48,963 / m².
The graph displaying the average prices displays the property type "House And Lot" as the most affordable one. At an cost of ₱ 6,656,897 it is 68 % cheaper than the average price in Binangonan. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House". At a price of ₱ 2,714,239 it is 106 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 11,265 / m² followed by "House And Lot" priced at ₱ 17,862 / m². "Condominium" is the most costly type of property with a ₱ 53,547 / m² cost followed by "House" with an average price of ₱ 41,373 / m².
