The prices in real estate in Parañaque, in the Metro Manila 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 Parañaque has had a strong decrease during the last 6 months. In December, the average price per m² was ₱ 97,472. In the following month the price per m² decreased considerably to ₱ 79,957. The price for the following two months in (February, March) decreased 93 % with regard to the prior two months. The price per m² has decreased 92 % 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 ₱ 85,661 to ₱ 78,820.5 during April, and May.
Based upon to the price in Parañaque (cities), this has gone downing the last 6 months. The price in December is ₱ 12,967,556, rising in January till ₱ 13,942,058. During the following two months (February, March) the average price fell 92 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from ₱ 12,901,488 to ₱ 11,275,428 in April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 10,734,106 they are 67 % more affordable than the average price for Parañaque. The properties with the highest average price have 4 bedrooms, Their price is 40 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,025,138.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 62,116 / m², with an average ₱ 78,265 / m² price in Parañaque. The properties with the highest average prices have 1 bedroom. They are 49 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 89,121 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 10,734,106 it is 72 % cheaper than the average price in Parañaque. "Farm House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of ₱ 6,932,309 it is 61 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Farm House" at an average cost of ₱ 15,201 / m² followed by "Townhouse" priced at ₱ 59,447 / m². "Condominium" is the most costly type of property with a ₱ 120,182 / m² cost followed by "Apartment" with an average price of ₱ 73,674 / m².