The prices in real estate in Makati, in the Metro Manila 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 Makati has had a strong decrease during the last 6 months. In December, the average price per m² was ₱ 227,939. In the following month the price per m² decreased considerably to ₱ 175,532. In the following two months the price per m² has barely changed, going from ₱ 201,735.5 to ₱ 195,748.5 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 ₱ 198,742 to ₱ 194,615.5 during April y May
Based upon to the price in Makati (cities), this has gone up in the last 6 months. The average price during our first sample month during December, is ₱ 15,101,774. During January the price went through a considerable rise reaching ₱ 18,482,252. During the following two months (February, March) the price has had an average incrementation from ₱ 16,792,012 to ₱ 18,237,226. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from ₱ 17,514,620 to ₱ 15,634,479 in April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 16,296,316 they are 56 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 511 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 44,492,580.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 174,977 / m², with an average ₱ 178,094 / m² price in Makati. The properties with the highest average prices have 3 bedrooms. They are 38 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 237,944 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 16,296,316 it is 78 % cheaper than the average price in Makati. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "House". At a price of ₱ 69,964,773 it is 431 % 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 ₱ 64,670 / m² followed by "Apartment" priced at ₱ 80,633 / m². "Condominium" is the most costly type of property with a ₱ 232,969 / m² cost followed by "Commercial Lot" with an average price of ₱ 153,335 / m².