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 March, the average price per m² was ₱ 189,701. In April this price pretty much remained the same at a value of ₱ 181,886 per m². The price for the following two months in (May, June) had a considerable decrease of 69 with regard to the prior two months. The price per m² has had a considerable deflation of 74 % 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 ₱ 156,544 to ₱ 116,624 during July, and August.
Based upon to the price in Lapu-lapu (cities), this has fallen considerably in the last 6 months. The average price for March is ₱ 23,419,901. During April the price had a slight fall till ₱ 21,938,227. During the following two months (May, June) the average price had a considerable reduction of 64 % 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 ₱ 18,583,080 to ₱ 10,432,252, which means a 56 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 7,918,510 they are 2 % more affordable than the average price for Lapu-lapu. The properties with the highest average price have 3 bedrooms, Their price is 63 % more costly than the average. After that we have properties with 4 bedrooms priced at ₱ 10,182,661.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 60,818 / m², with an average ₱ 109,401 / m² price in Lapu-lapu. The properties with the highest average prices have 1 bedroom. They are 56 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 117,531 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 7,918,510 it is 41 % cheaper than the average price in Lapu-lapu. "Condominium" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Apartment". At a price of ₱ 35,500,442 it is 685 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 24,104 / m² followed by "House" priced at ₱ 59,947 / m². "Villa" is the most costly type of property with a ₱ 351,749 / m² cost followed by "Condominium" with an average price of ₱ 158,560 / m².