The prices in real estate in Cebu City, in the Cebu region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Cebu City has increased during the last 6 months. In June, the average price per m² was ₱ 83,022. In the following month the price per m² decreased to ₱ 77,015. In the following two months the price per m² has increased 108 %, going from ₱ 80,018.5 to ₱ 86,443 per m². The price per m² has had a considerable increase of 120 % 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 ₱ 83,230.75 to ₱ 100,238.5 during October, and November.
Based upon to the price in Cebu City (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during June, is ₱ 8,315,868. During July the price went through a considerable rise reaching ₱ 10,605,630. During the following two months (August, September) the average price had a considerable increase of 125 % 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 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 11,256,015 they are 47 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 56 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 10,576,139.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 68,914 / m², with an average ₱ 107,137 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 33 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 129,512 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 11,256,015 it is 64 % cheaper than the average price in Cebu City. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Farm House". At a price of ₱ 9,194,735 it is 66 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Farm House" at an average cost of ₱ 11,412 / m² followed by "House And Lot" priced at ₱ 41,528 / m². "Condominium" is the most costly type of property with a ₱ 147,843 / m² cost followed by "House" with an average price of ₱ 66,755 / m².