The prices in real estate in Minglanilla, 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 Minglanilla has had a strong decrease during the last 6 months. In May, the average price per m² was ₱ 52,122. In the following month the price per m² decreased to ₱ 48,488. The price for the following two months in (July, August) had a considerable decrease of 69 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 ₱ 42,627.5 to ₱ 35,120 during September, and October.
Based upon to the price in Minglanilla (cities), this has gone downing the last 6 months. In our first sample month during May, the average price is ₱ 5,100,141. In June This price remains at ₱ 5,183,846. During the following two months (July, August) the average price had a considerable reduction of 78 % 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 110 % 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 ₱ 5,238,793 they are 58 % more affordable than the average price for Minglanilla. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 4,736,314.
With regard to the average price per m² , those properties with 1 bedroom are the most costly ones at a cost of ₱ 44,388 / m², with an average ₱ 34,419 / m² price in Minglanilla. The properties with the highest average prices have 2 bedrooms. They are 59 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 52,345 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 5,238,793 it is 34 % cheaper than the average price in Minglanilla. "Farm House" is seen as the second most affordable property type. The dearest property type is "House And Lot" followed by "House". At a price of ₱ 5,548,757 it is 6 % 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 ₱ 26,753 / m² followed by "Farm House" priced at ₱ 43,310 / m². "House" is the most costly type of property with a ₱ 50,772 / m² cost followed by "Townhouse" with an average price of ₱ 44,850 / m².