The prices in real estate in Cebu City, in the Cebu region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Cebu City has fallen in the last 6 months. In February, the average price per m² was ₱ 95,764. In the following month the price per m² decreased considerably to ₱ 65,236. The price for the following two months in (April, May) had a considerable increment of 121 %. The price per m² has decreased 87 % 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 ₱ 88,774.75 to ₱ 76,884.5 during June, and July.
Based upon to the price in Cebu City (cities), this has fallen considerably in the last 6 months. The average price for February is ₱ 13,398,081. During March the price had a considerable reduction till ₱ 6,543,403. During the following two months (April, May) the average price had a considerable reduction of 62 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 8,070,507 to ₱ 5,744,063, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 5,299,508 they are 32 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 52 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 4,963,927.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 49,852 / m², with an average ₱ 58,786 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 69 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 72,827 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 5,299,508 it is 25 % cheaper than the average price in Cebu City. "House And Lot" is seen as the second most affordable property type. The dearest property type is "Condominium" followed by "Townhouse". At a price of ₱ 6,051,009 it is 27 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 38,026 / m² followed by "House And Lot" priced at ₱ 50,116 / m². "Condominium" is the most costly type of property with a ₱ 126,125 / m² cost followed by "Apartment" with an average price of ₱ 83,841 / m².