The prices in real estate in Makati, in the Metro Manila 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 Makati has increased strongly during the last 6 months. In July, the average price per m² was ₱ 123,026. In the following month the price per m² decreased considerably to ₱ 104,483. The price for the following two months in (September, October) had a considerable increment of 155 %. The price per m² has had a considerable increase of 148 % 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 ₱ 144,919.25 to ₱ 213,866 during November, and December.
Based upon to the price in Makati (cities), this has gone up considerably in the last 6 months. The average price for July is ₱ 11,444,931. During August the price had a considerable reduction till ₱ 9,511,144. During the following two months (September, October) the average price had a considerable increase of 153 % 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 114 % 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 ₱ 15,101,774 they are 40 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 620 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 49,633,125.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 214,457 / m², with an average ₱ 227,939 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 21 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 248,747 / m².
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of ₱ 15,101,774 it is 49 % 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 "Commercial Lot". At a price of ₱ 54,433,416 it is 603 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Office" at an average cost of ₱ 32,285 / m² followed by "Townhouse" priced at ₱ 64,670 / m². "House" is the most costly type of property with a ₱ 247,247 / m² cost followed by "Condominium" with an average price of ₱ 232,053 / m².