The prices in real estate in Lapu-lapu, 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 Lapu-lapu has increased strongly during the last 6 months. In September, the average price per m² was ₱ 129,732. In the following month the price per m² increased considerably to ₱ 194,112. In the following two months the price per m² has increased 111 %, going from ₱ 161,922 to ₱ 179,874.5 per m². The price per m² has increased 108 % 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 ₱ 170,898.25 to ₱ 184,335.5 during January, and February.
Based upon to the price in Lapu-lapu (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is ₱ 14,103,569. During October the price went through a considerable rise reaching ₱ 24,441,475. During the following two months (November, December) the average price had a considerable increase of 117 % 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 111 % 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 ₱ 25,439,526 they are 58 % more affordable than the average price for Lapu-lapu. The properties with the highest average price have 3 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 2 bedrooms priced at ₱ 26,230,716.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 64,412 / m², with an average ₱ 194,703 / m² price in Lapu-lapu. The properties with the highest average prices have 2 bedrooms. They are 16 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 197,235 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 25,439,526 it is 64 % cheaper than the average price in Lapu-lapu. "House" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Lot". At a price of ₱ 20,074,517 it is 82 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 21,297 / m² followed by "House" priced at ₱ 68,990 / m². "Apartment" is the most costly type of property with a ₱ 251,308 / m² cost followed by "Condominium" with an average price of ₱ 222,734 / m².
