The prices in real estate in Cebu City, in the Cebu region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Cebu City has remained the same in the last 6 months. In February, the average price per m² was ₱ 84,061. In March this price pretty much remained the same at a value of ₱ 82,786 per m². In the following two months the price per m² has increased 111 %, going from ₱ 83,423.5 to ₱ 92,494.5 per m². The price per m² has decreased 91 % 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 ₱ 87,959 to ₱ 80,018.5 during June, and July.
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 February, is ₱ 6,492,854. During March the price went through a considerable rise reaching ₱ 7,851,362. During the following two months (April, May) the average price had a considerable increase of 115 % 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 risen strongly 122 % 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 ₱ 10,605,630 they are 54 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 10,336,027.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 69,586 / m², with an average ₱ 77,015 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 67 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 112,746 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 10,605,630 it is 65 % cheaper than the average price in Cebu City. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Farm House" followed by "House". At a price of ₱ 16,103,984 it is 177 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 11,633 / m² followed by "Farm House" priced at ₱ 27,621 / m². "Condominium" is the most costly type of property with a ₱ 110,371 / m² cost followed by "House" with an average price of ₱ 67,752 / m².