The prices in real estate in Panglao, in the Bohol region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Panglao has increased strongly during the last 6 months. In December, the average price per m² was ₱ 14,644. In the following month the price per m² increased to ₱ 16,520. The price for the following two months in (February, March) had a considerable increment of 188 %. The price per m² has had a considerable increase of 196 % 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 ₱ 22,463 to ₱ 43,987 during April, and May.
Based upon to the price in Panglao (cities), this has fallen considerably in the last 6 months. The average price for December is ₱ 37,158,119. During January the price had a slight fall till ₱ 33,026,828. During the following two months (February, March) 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 ₱ 32,103,296 to ₱ 12,022,446, which means a 37 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 9,980,261 they are 50 % more affordable than the average price for Panglao. The properties with the lowest average price have 4 bedrooms, Their price is 3 % cheaper than the average. After that we have properties with 3 bedrooms priced at ₱ 6,526,667.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 35,913 / m², with an average ₱ 40,819 / m² price in Panglao. The properties with the highest average prices have 1 bedroom. They are 204 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 93,049 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 9,980,261 it is 69 % cheaper than the average price in Panglao. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Lot". At a price of ₱ 41,687,746 it is 1954 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 8,066 / m² followed by "House" priced at ₱ 40,088 / m². "Apartment" is the most costly type of property with a ₱ 302,597 / m² cost followed by "Commercial Lot" with an average price of ₱ 124,523 / m².
