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 April, the average price per m² was ₱ 177,692. In the following month the price per m² increased to ₱ 192,895. The price for the following two months in (June, July) had a considerable decrease of 76 with regard to the prior two months. The price per m² has had a considerable deflation of 82 % 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 ₱ 163,155.25 to ₱ 133,162.5 during August, and September.
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 April, is ₱ 16,276,352. During May the price went through a considerable rise reaching ₱ 23,740,600. During the following two months (June, July) the average price had a considerable reduction of 70 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 16,964,292 to ₱ 12,645,131, which means a 75 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 15,779,118 they are 60 % more affordable than the average price for Makati. The properties with the highest average price have 4 bedrooms, Their price is 125 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 32,100,488.
With regard to the average price per m² , those properties with 1 bedroom are the most costly ones at a cost of ₱ 163,240 / m², with an average ₱ 161,842 / m² price in Makati. The properties with the highest average prices have 3 bedrooms. They are 22 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 180,167 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 15,779,118 it is 64 % cheaper than the average price in Makati. "Condominium" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Commercial Lot". At a price of ₱ 32,721,273 it is 206 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of ₱ 64,865 / m² followed by "Apartment" priced at ₱ 105,829 / m². "Condominium" is the most costly type of property with a ₱ 225,291 / m² cost followed by "House" with an average price of ₱ 151,587 / m².