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 October, the average price per m² was ₱ 100,587. In November this price pretty much remained the same at a value of ₱ 101,234 per m². The price for the following two months in (December, January) had a considerable increment of 126 %. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 114,209.25 to ₱ 113,951 during February y March
Based upon to the price in Cebu City (cities), this has gone downing the last 6 months. The price in October is ₱ 6,736,784, rising in November till ₱ 7,244,499. During the following two months (December, January) the average price fell 88 % with regard to the previous two months. 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 ₱ 6,562,814 to ₱ 6,193,802.5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,400,197 they are 23 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 20 % more costly than the average. After that we have properties with 2 bedrooms priced at ₱ 7,202,155.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 49,633 / m², with an average ₱ 94,779 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 37 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 116,008 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 6,400,197 it is 33 % cheaper than the average price in Cebu City. "House" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House And Lot". At a price of ₱ 8,022,541 it is 286 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 38,200 / m² followed by "House" priced at ₱ 40,624 / m². "Condominium" is the most costly type of property with a ₱ 152,983 / m² cost followed by "Apartment" with an average price of ₱ 87,098 / m².
