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 April, the average price per m² was ₱ 57,894. In May this price pretty much remained the same at a value of ₱ 57,014 per m². In the following two months the price per m² has barely changed, going from ₱ 57,454 to ₱ 59,173 per m². The price per m² has had a considerable deflation of 48 % 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 ₱ 58,313.5 to ₱ 28,272 during August, and September.
Based upon to the price in Panglao (cities), these have remained the same in the last 6 months. The average price during our first sample month during April, is ₱ 8,564,330. During May the price went through a considerable rise reaching ₱ 10,220,618. During the following two months (June, July) the average price had a considerable increase of 117 % 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 ₱ 10,170,012 to ₱ 5,802,859.5, which means a 57 % fall.