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 May, the average price per m² was ₱ 141,654. In the following month the price per m² increased to ₱ 149,668. The price for the following two months in (July, August) decreased 88 % with regard to the prior two months. The price per m² has had a considerable deflation of 54 % 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 ₱ 137,246.75 to ₱ 73,784 during September, and October.
Based upon to the price in Lapu-lapu (cities), this has fallen considerably in the last 6 months. The average price for May is ₱ 13,083,457. During June the price had a slight fall till ₱ 12,268,350. In the following two months the average price has remained the same with regard to the previous two months from ₱ 12,675,904 to ₱ 12,461,010. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 12,568,457 to ₱ 5,530,521.5, which means a 44 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 5,706,784 they are 14 % more affordable than the average price for Lapu-lapu. The properties with the highest average price have 4 bedrooms, Their price is 55 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 6,276,251.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 58,749 / m², with an average ₱ 77,541 / m² price in Lapu-lapu. The properties with the highest average prices have 1 bedroom. They are 41 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 78,009 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 5,706,784 it is 54 % cheaper than the average price in Lapu-lapu. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condominium". At a price of ₱ 6,276,979 it is 37 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of ₱ 45,979 / m² followed by "House" priced at ₱ 55,542 / m². "Condominium" is the most costly type of property with a ₱ 121,360 / m² cost followed by "Apartment" with an average price of ₱ 65,452 / m².