The prices in real estate in Cebu City, in the Cebu 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 Cebu City has increased strongly during the last 6 months. In March, the average price per m² was ₱ 65,236. In the following month the price per m² increased considerably to ₱ 80,714. The price for the following two months in (May, June) had a considerable increment of 143 %. The price per m² has had a considerable deflation of 72 % 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 ₱ 88,579.5 to ₱ 63,494 during July, and August.
Based upon to the price in Cebu City (cities), this has gone downing the last 6 months. The average price for March is ₱ 6,543,403. During April the price had a slight fall till ₱ 6,128,169. In the following two months the average price has remained the same with regard to the previous two months from ₱ 6,335,786 to ₱ 6,200,496. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from ₱ 6,268,141 to ₱ 5,879,077.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,458,647 they are 51 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 15 % more costly than the average. After that we have properties with 2 bedrooms priced at ₱ 5,779,389.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 53,446 / m², with an average ₱ 68,202 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 34 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 81,545 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 6,458,647 it is 34 % cheaper than the average price in Cebu City. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Condominium" followed by "House And Lot". At a price of ₱ 6,975,521 it is 12 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 50,228 / m² followed by "House And Lot" priced at ₱ 53,811 / m². "Condominium" is the most costly type of property with a ₱ 111,803 / m² cost followed by "Apartment" with an average price of ₱ 81,730 / m².