The prices in real estate in Mandaue, in the Cebu 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 Mandaue has had a strong decrease during the last 6 months. In May, the average price per m² was ₱ 131,453. In June this price pretty much remained the same at a value of ₱ 131,267 per m². The price for the following two months in (July, August) had a considerable decrease of 76 with regard to the prior two months. The price per m² has had a considerable deflation of 83 % 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 ₱ 115,551 to ₱ 95,944.5 during September, and October.
Based upon to the price in Mandaue (cities), this has gone up considerably in the last 6 months. In our first sample month during May, the average price is ₱ 6,250,544. In June This price remains at ₱ 6,058,710. During the following two months (July, August) the average price had a considerable increase of 132 % 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 gone up 109 % 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 ₱ 7,631,562 they are 37 % more affordable than the average price for Mandaue. The properties with the highest average price have 4 bedrooms, Their price is 61 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 6,819,281.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 62,289 / m², with an average ₱ 97,874 / m² price in Mandaue. The properties with the highest average prices have 1 bedroom. They are 40 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 108,804 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 7,631,562 it is 47 % cheaper than the average price in Mandaue. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of ₱ 5,959,558 it is 37 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 49,204 / m² followed by "Townhouse" priced at ₱ 51,493 / m². "Condominium" is the most costly type of property with a ₱ 136,857 / m² cost followed by "Office" with an average price of ₱ 99,594 / m².