The prices in real estate in Cordova, in the Cebu region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Cordova has had a strong decrease during the last 6 months. In May, the average price per m² was ₱ 50,989. In the following month the price per m² decreased considerably to ₱ 37,167. The price for the following two months in (July, August) had a considerable decrease of 63 with regard to the prior two months. The price per m² has had a considerable deflation of 36 % 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 ₱ 35,835.5 to ₱ 12,968 during September, and October.
Based upon to the price in Cordova (cities), this has fallen considerably in the last 6 months. The average price for May is ₱ 4,814,787. During June the price had a considerable reduction till ₱ 3,476,583. During the following two months (July, August) the average price had a considerable reduction of 80 % 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 ₱ 3,737,163 to ₱ 1,709,090.5, which means a 46 % fall.