The prices in real estate in Makati, in the Metro Manila region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Makati has increased during the last 6 months. In May, the average price per m² was ₱ 170,352. In the following month the price per m² increased to ₱ 181,702. In the following two months the price per m² has increased 105 %, going from ₱ 176,027 to ₱ 185,527 per m². The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 180,777 to ₱ 184,915 during September y October
Based upon to the price in Makati (cities), this has fallen considerably in the last 6 months. In our first sample month during May, the average price is ₱ 15,217,565. In June This price remains at ₱ 15,685,778. During the following two months (July, August) the average price fell 90 % 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 ₱ 14,659,204 to ₱ 7,621,760, which means a 52 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 7,946,368 they are 29 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 1232 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 46,222,288.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 172,912 / m², with an average ₱ 176,737 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 53 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 211,150 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 7,946,368 it is 14 % cheaper than the average price in Makati. "Condominium" is seen as the second most affordable property type. The dearest property type is "House" followed by "Office". At a price of ₱ 50,736,708 it is 681 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 65,259 / m² followed by "Office" priced at ₱ 117,952 / m². "Condominium" is the most costly type of property with a ₱ 186,855 / m² cost followed by "House" with an average price of ₱ 181,727 / m².