The prices in real estate in Marikina, in the Metro Manila region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Marikina has fallen in the last 6 months. In July, the average price per m² was ₱ 63,202. In August this price pretty much remained the same at a value of ₱ 61,835 per m². The price for the following two months in (September, October) decreased 93 % with regard to the prior two months. The price per m² has decreased 95 % 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 ₱ 60,408 to ₱ 57,250.5 during November, and December.
Based upon to the price in Marikina (cities), this has fallen considerably in the last 6 months. The average price for July is ₱ 7,826,698. During August the price had a slight fall till ₱ 7,006,201. During the following two months (September, October) the average price had a considerable reduction of 83 % 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 ₱ 6,790,506 to ₱ 5,366,695, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 4,661,152 they are 23 % more affordable than the average price for Marikina. The properties with the highest average price have 4 bedrooms, Their price is 86 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 4,955,841.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 47,783 / m², with an average ₱ 63,411 / m² price in Marikina. The properties with the highest average prices have 1 bedroom. They are 88 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 71,261 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,661,152 it is 20 % cheaper than the average price in Marikina. "Condominium" is seen as the second most affordable property type. The dearest property type is "Lot" followed by "House And Lot". At a price of ₱ 10,238,743 it is 287 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 40,849 / m² followed by "House" priced at ₱ 45,920 / m². "Condominium" is the most costly type of property with a ₱ 117,352 / m² cost followed by "Apartment" with an average price of ₱ 116,118 / m².