The prices in real estate in Lapu-lapu, in the Cebu region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Lapu-lapu has fallen in the last 6 months. In January, the average price per m² was ₱ 132,125. In the following month the price per m² increased to ₱ 145,082. In the following two months the price per m² has barely changed, going from ₱ 138,603.5 to ₱ 137,190.5 per m². The price per m² has had a considerable deflation of 67 % 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 ₱ 137,897 to ₱ 92,340.5 during May, and June.
Based upon to the price in Lapu-lapu (cities), this has fallen considerably in the last 6 months. In our first sample month during January, the average price is ₱ 20,176,449. In February This price remains at ₱ 20,958,972. During the following two months (March, April) the average price had a considerable reduction of 84 % 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 ₱ 18,877,052 to ₱ 11,000,242, which means a 58 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 11,412,448 they are 44 % more affordable than the average price for Lapu-lapu. The properties with the lowest average price have 2 bedrooms, Their price is 10 % cheaper than the average. After that we have properties with 4 bedrooms priced at ₱ 9,326,940.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 60,937 / m², with an average ₱ 93,128 / m² price in Lapu-lapu. The properties with the highest average prices have 1 bedroom. They are 43 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 102,746 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 11,412,448 it is 76 % cheaper than the average price in Lapu-lapu. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condominium" followed by "House". At a price of ₱ 9,289,782 it is 33 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of ₱ 47,000 / m² followed by "House" priced at ₱ 56,963 / m². "Condominium" is the most costly type of property with a ₱ 158,983 / m² cost followed by "Apartment" with an average price of ₱ 65,254 / m².