The prices in real estate in Compostela, 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 Compostela has increased strongly during the last 6 months. In October, the average price per m² was ₱ 33,245. In the following month the price per m² increased considerably to ₱ 41,892. The price for the following two months in (December, January) had a considerable increment of 159 %. The price per m² has had a considerable increase of 117 % 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 ₱ 48,736.25 to ₱ 57,200.5 during February, and March.
Based upon to the price in Compostela (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is ₱ 3,035,972. During November the price went through a considerable rise reaching ₱ 3,549,872. During the following two months (December, January) the average price had a considerable increase of 149 % 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 114 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 4,838,587 they are 43 % more affordable than the average price for Compostela. The properties with the highest average price have 4 bedrooms, Their price is 125 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 6,927,213.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of ₱ 32,765 / m², with an average ₱ 55,189 / m² price in Compostela. The properties with the highest average prices have 4 bedrooms. They are 23 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 52,117 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 4,838,587 it is 62 % cheaper than the average price in Compostela. "House" is seen as the second most affordable property type. The dearest property type is "House And Lot" followed by "House". At a price of ₱ 4,888,579 it is 54 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of ₱ 34,951 / m² followed by "House" priced at ₱ 58,463 / m². "House And Lot" is the most costly type of property with a ₱ 76,438 / m² cost followed by "House" with an average price of ₱ 58,463 / m².
