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 May, the average price per m² was ₱ 190,000. In the following month the price per m² increased to ₱ 211,374. In the following two months the price per m² has increased 109 %, going from ₱ 200,687 to ₱ 217,892 per m². The price per m² has increased 111 % 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 ₱ 209,289.5 to ₱ 231,513.5 during September, and October.
Based upon to the price in Makati (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during May, is ₱ 16,270,551. During June the price went through a considerable rise reaching ₱ 20,293,164. During the following two months (July, August) the average price fell 91 % 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 128 % 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 ₱ 22,622,813 they are 45 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 531 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 49,576,112.
With regard to the average price per m² , those properties with 1 bedroom are the cheapest ones at a cost of ₱ 231,764 / m², with an average ₱ 241,897 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 54 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 261,730 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 22,622,813 it is 80 % 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 ₱ 116,160,273 it is 744 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 94,290 / m² followed by "Commercial Lot" priced at ₱ 172,320 / m². "House" is the most costly type of property with a ₱ 444,712 / m² cost followed by "Condominium" with an average price of ₱ 246,605 / m².
