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 May, the average price per m² was ₱ 91,416. In the following month the price per m² decreased considerably to ₱ 67,632. The price for the following two months in (July, August) had a considerable decrease of 77 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of ₱ 70,531.75 to ₱ 71,535.5 during September y October
Based upon to the price in Parañaque (cities), this has fallen considerably in the last 6 months. The average price for May is ₱ 13,893,879. During June the price had a considerable reduction till ₱ 5,886,974. During the following two months (July, August) the average price had a considerable reduction of 51 % 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 ₱ 8,374,668 they are 54 % more affordable than the average price for Parañaque. The properties with the highest average price have 4 bedrooms, Their price is 96 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,958,659.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 67,739 / m², with an average ₱ 81,644 / m² price in Parañaque. The properties with the highest average prices have 1 bedroom. They are 52 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 90,766 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 8,374,668 it is 63 % 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 ₱ 6,357,338 it is 122 % 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 ₱ 15,313 / m² followed by "Townhouse" priced at ₱ 57,452 / m². "Condominium" is the most costly type of property with a ₱ 124,929 / m² cost followed by "Apartment" with an average price of ₱ 68,143 / m².