The prices in real estate in Davao City, in the Davao Del Sur 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 Davao City has increased strongly during the last 6 months. In April, the average price per m² was ₱ 44,135. In the following month the price per m² increased considerably to ₱ 70,828. The price for the following two months in (June, July) decreased 94 % with regard to the prior two months. The price per m² has decreased 91 % 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 ₱ 55,848.75 to ₱ 50,981 during August, and September.
Based upon to the price in Davao City (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is ₱ 9,496,651. In May This price remains at ₱ 9,584,985. During the following two months (June, July) the average price fell 91 % 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 ₱ 9,131,439 to ₱ 6,507,762.5, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 6,618,599 they are 61 % more affordable than the average price for Davao City. The properties with the highest average price have 4 bedrooms, Their price is 69 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 5,268,953.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 53,263 / m², with an average ₱ 57,253 / m² price in Davao City. The properties with the highest average prices have 1 bedroom. They are 103 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 56,972 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 6,618,599 it is 46 % cheaper than the average price in Davao City. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "House". At a price of ₱ 7,715,254 it is 48 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 51,194 / m² followed by "Apartment" priced at ₱ 90,429 / m². "Commercial Lot" is the most costly type of property with a ₱ 791,380 / m² cost followed by "Condominium" with an average price of ₱ 114,440 / m².