The prices in real estate in Lapu-lapu, 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 Lapu-lapu has had a strong decrease during the last 6 months. In August, the average price per m² was ₱ 118,996. In the following month the price per m² decreased considerably to ₱ 70,027. The price for the following two months in (October, November) decreased 86 % with regard to the prior two months. The price per m² has had a considerable increase of 136 % 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 ₱ 87,924.75 to ₱ 119,617 during December, and January.
Based upon to the price in Lapu-lapu (cities), this has fallen considerably in the last 6 months. The average price for August is ₱ 11,962,643. During September the price had a considerable reduction till ₱ 5,354,259. During the following two months (October, November) the average price had a considerable reduction of 73 % 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 risen strongly 218 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 20,176,449 they are 71 % more affordable than the average price for Lapu-lapu. The properties with the lowest average price have 4 bedrooms, Their price is 17 % cheaper than the average. After that we have properties with 2 bedrooms priced at ₱ 9,630,470.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 66,075 / m², with an average ₱ 132,125 / m² price in Lapu-lapu. The properties with the lowest average prices have 1 bedroom. They are 2 % cheaper than the average followed by properties with 2 bedrooms with a price at ₱ 110,743 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 20,176,449 it is 86 % cheaper than the average price in Lapu-lapu. "Apartment" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Condominium". At a price of ₱ 13,559,725 it is 31 % more affordable than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of ₱ 49,318 / m² followed by "Apartment" priced at ₱ 65,254 / m². "Condominium" is the most costly type of property with a ₱ 153,077 / m² cost followed by "House" with an average price of ₱ 67,698 / m².