The prices in real estate in Makati, in the Metro Manila 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 Makati has fallen in the last 6 months. In May, the average price per m² was ₱ 212,478. In the following month the price per m² decreased to ₱ 197,639. The price for the following two months in (July, August) decreased 89 % with regard to the prior two months. 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 ₱ 193,800.5 to ₱ 186,840 during September y October
Based upon to the price in Makati (cities), these have remained the same in the last 6 months. In our first sample month during May, the average price is ₱ 19,218,292. In June This price remains at ₱ 18,964,442. During the following two months (July, August) the average price fell 94 % 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 risen strongly 124 % 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 ₱ 24,965,386 they are 85 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 652 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 59,471,046.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of ₱ 116,049 / m², with an average ₱ 185,200 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 72 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 252,313 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 24,965,386 it is 85 % 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 "Lot". At a price of ₱ 153,220,413 it is 561 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 107,116 / m² followed by "Commercial Lot" priced at ₱ 171,870 / m². "House" is the most costly type of property with a ₱ 290,134 / m² cost followed by "Lot" with an average price of ₱ 260,085 / m².