The prices in real estate in Paranaque, in the Rizal 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 Paranaque has had a strong decrease during the last 6 months. In April, the average price per m² was ₱ 58,912. In May this price pretty much remained the same at a value of ₱ 57,629 per m². In the following two months the price per m² has barely changed, going from ₱ 58,270.5 to ₱ 60,267 per m². The price per m² has had a considerable deflation of 52 % 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 ₱ 59,268.75 to ₱ 30,959.5 during August, and September.
Based upon to the price in Paranaque (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is ₱ 8,580,602. In May This price remains at ₱ 8,423,179. During the following two months (June, July) the average price fell 88 % 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 ₱ 7,974,681 to ₱ 3,272,069, which means a 41 % fall.