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 April, the average price per m² was ₱ 80,714. In the following month the price per m² increased considerably to ₱ 113,385. The price for the following two months in (June, July) had a considerable decrease of 79 with regard to the prior two months. The price per m² has had a considerable deflation of 83 % 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 ₱ 86,967 to ₱ 71,812 during August, and September.
Based upon to the price in Cebu City (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is ₱ 6,128,169. In May This price remains at ₱ 6,212,374. During the following two months (June, July) the average price fell 93 % 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 110 % 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 ₱ 6,628,347 they are 34 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 35 % more costly than the average. After that we have properties with 2 bedrooms priced at ₱ 6,385,681.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 55,512 / m², with an average ₱ 75,422 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 57 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 94,432 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 6,628,347 it is 40 % 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 "Condominium". At a price of ₱ 7,667,615 it is 19 % 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 ₱ 44,533 / m² followed by "Townhouse" priced at ₱ 47,307 / m². "Condominium" is the most costly type of property with a ₱ 132,996 / m² cost followed by "Apartment" with an average price of ₱ 82,600 / m².