The prices in real estate in Panglao, in the Bohol 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 Panglao has had a strong decrease during the last 6 months. In May, the average price per m² was ₱ 81,740. In the following month the price per m² decreased to ₱ 74,840. The price for the following two months in (July, August) decreased 89 % with regard to the prior two months. The price per m² has decreased 88 % 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 ₱ 73,902.75 to ₱ 64,874.5 during September, and October.
Based upon to the price in Panglao (cities), this has fallen considerably in the last 6 months. The price in May is ₱ 12,049,004, rising in June till ₱ 13,331,153. During the following two months (July, August) the average price had a considerable reduction of 44 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₱ 9,116,363 and ₱ 9,477,977 between September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 10,644,976 they are 65 % more affordable than the average price for Panglao. The properties with the lowest average price have 3 bedrooms, Their price is 0 % cheaper than the average. After that we have properties with 4 bedrooms priced at ₱ 8,455,601.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 45,006 / m², with an average ₱ 65,750 / m² price in Panglao. The properties with the highest average prices have 1 bedroom. They are 73 % more expensive than the average followed by properties with 4 bedrooms with a price at ₱ 55,734 / m².
With regard to the average price based upon the property in Panglao we can see that the cheapest property type is "House And Lot" at a price of ₱ 3,658,662, they are 66 % more affordable than the average price of (!PRECIO2!). "House And Lot" has the lowest price. This price is 66 % more affordable than the average price aforementioned.
According to the average area cost by m² the cheapest property type is "House And Lot with an average price of ₱ 51,059 / m². "House And Lot" with an average cost of ₱ 51,059 / m² has the lowest price and would be directed at less affluent cities.