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 September, the average price per m² was ₱ 188,480. In October this price pretty much remained the same at a value of ₱ 185,200 per m². The price for the following two months in (November, December) had a considerable decrease of 73 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 ₱ 161,675 to ₱ 161,964 during January y February
Based upon to the price in Makati (cities), this has gone downing the last 6 months. The average price during our first sample month during September, is ₱ 20,746,812. During October the price went through a considerable rise reaching ₱ 24,965,386. During the following two months (November, December) the average price had a considerable reduction of 42 % 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 139 % 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 ₱ 27,542,253 they are 76 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 671 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 70,040,756.
With regard to the average price per m² , those properties with 2 bedrooms are the most costly ones at a cost of ₱ 168,299 / m², with an average ₱ 159,431 / m² price in Makati. The properties with the highest average prices have 4 bedrooms. They are 94 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 277,889 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 27,542,253 it is 46 % cheaper than the average price in Makati. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House". At a price of ₱ 197,706,412 it is 762 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 140,174 / m² followed by "Commercial Lot" priced at ₱ 152,042 / m². "Lot" is the most costly type of property with a ₱ 315,075 / m² cost followed by "House" with an average price of ₱ 308,254 / m².
