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 October, the average price per m² was ₱ 77,033. In the following month the price per m² increased to ₱ 87,909. In the following two months the price per m² has increased 107 %, going from ₱ 82,471 to ₱ 88,024.5 per m². 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 ₱ 85,247.75 to ₱ 83,423.5 during February y March
Based upon to the price in Cebu City (cities), this has fallen considerably in the last 6 months. The average price for October is ₱ 10,921,347. During November the price had a considerable reduction till ₱ 9,244,168. During the following two months (December, January) the average price fell 89 % 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 ₱ 9,547,698 to ₱ 7,172,108, which means a 75 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 7,851,362 they are 45 % more affordable than the average price for Cebu City. The properties with the highest average price have 4 bedrooms, Their price is 61 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 10,904,002.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 65,142 / m², with an average ₱ 82,786 / m² price in Cebu City. The properties with the highest average prices have 1 bedroom. They are 45 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 109,058 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 7,851,362 it is 69 % 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 "Farm House" followed by "House". At a price of ₱ 14,060,174 it is 130 % 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 ₱ 25,414 / m² followed by "House And Lot" priced at ₱ 43,157 / m². "Condominium" is the most costly type of property with a ₱ 125,951 / m² cost followed by "House" with an average price of ₱ 65,059 / m².