The prices in real estate in Paranaque, in the Rizal 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 Paranaque has increased strongly during the last 6 months. In January, the average price per m² was ₱ 42,391. In the following month the price per m² increased to ₱ 46,880. The price for the following two months in (March, April) had a considerable increment of 129 %. The price per m² has had a considerable increase of 116 % 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 ₱ 51,198.5 to ₱ 59,242 during May, and June.
Based upon to the price in Paranaque (cities), this has gone up in the last 6 months. The price in January is ₱ 7,565,846, rising in February till ₱ 8,260,892. During the following two months (March, April) the price has had an average incrementation from ₱ 7,913,369 to ₱ 8,928,080. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from ₱ 8,420,724 to ₱ 7,950,690.5 in May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 7,478,202 they are 62 % more affordable than the average price for Paranaque. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 8,365,089.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 50,856 / m², with an average ₱ 60,855 / m² price in Paranaque. The properties with the highest average prices have 1 bedroom. They are 46 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 62,213 / m².
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of ₱ 7,478,202 it is 50 % cheaper than the average price in Paranaque. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "House". At a price of ₱ 16,600,562 it is 472 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Apartment" at an average cost of ₱ 7,405 / m² followed by "Townhouse" priced at ₱ 41,687 / m². "House" is the most costly type of property with a ₱ 132,536 / m² cost followed by "Condominium" with an average price of ₱ 84,968 / m².