The prices in real estate in Pasay, in the Metro Manila region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Pasay has fallen in the last 6 months. In December, the average price per m² was ₱ 224,203. In the following month the price per m² decreased to ₱ 191,719. The price for the following two months in (February, March) decreased 93 % 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 ₱ 200,935.75 to ₱ 197,814 during April y May
Based upon to the price in Pasay (cities), this has gone up in the last 6 months. The average price during our first sample month during December, is ₱ 8,335,305. During January the price went through a considerable rise reaching ₱ 9,624,595. In the following two months the average price has remained the same with regard to the previous two months from ₱ 8,979,950 to ₱ 9,209,088. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from ₱ 9,094,519 to ₱ 8,386,066 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 ₱ 8,164,636 they are 21 % more affordable than the average price for Pasay. The properties with the highest average price have 4 bedrooms, Their price is 212 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 22,123,825.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 183,437 / m², with an average ₱ 192,225 / m² price in Pasay. The properties with the highest average prices have 3 bedrooms. They are 14 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 210,965 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 8,164,636 it is 39 % cheaper than the average price in Pasay. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Apartment". At a price of ₱ 45,788,137 it is 1018 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 97,792 / m² followed by "Townhouse" priced at ₱ 125,362 / m². "Condominium" is the most costly type of property with a ₱ 195,882 / m² cost followed by "Commercial Lot" with an average price of ₱ 157,252 / m².