The prices in real estate in Pasay, 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 Pasay has had a strong decrease during the last 6 months. In February, the average price per m² was ₱ 183,751. In the following month the price per m² decreased considerably to ₱ 96,069. The price for the following two months in (April, May) had a considerable decrease of 78 with regard to the prior two months. The price per m² has increased 112 % 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 ₱ 124,436 to ₱ 139,178 during June, and July.
Based upon to the price in Pasay (cities), this has gone up in the last 6 months. The price in February is ₱ 6,254,044, rising in March till ₱ 6,823,729. In the following two months the average price has remained the same with regard to the previous two months from ₱ 6,538,886.5 to ₱ 6,593,082. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 ₱ 7,269,524 they are 20 % more affordable than the average price for Pasay. The properties with the highest average price have 3 bedrooms, Their price is 223 % more costly than the average. After that we have properties with 4 bedrooms priced at ₱ 15,943,000.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 111,640 / m², with an average ₱ 136,663 / m² price in Pasay. The properties with the highest average prices have 3 bedrooms. They are 76 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 212,509 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 7,269,524 it is 31 % cheaper than the average price in Pasay. "Condominium" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Commercial Lot". At a price of ₱ 44,548,454 it is 1047 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial Lot" at an average cost of ₱ 90,942 / m² followed by "House" priced at ₱ 102,650 / m². "Apartment" is the most costly type of property with a ₱ 286,815 / m² cost followed by "Condominium" with an average price of ₱ 166,202 / m².