The prices in real estate in Pasay, in the Metro Manila 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 Pasay has increased strongly during the last 6 months. In May, the average price per m² was ₱ 112,291. In the following month the price per m² increased considerably to ₱ 141,693. The price for the following two months in (July, August) decreased 95 % with regard to the prior two months. The price per m² has had a considerable increase of 150 % 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 ₱ 123,574.5 to ₱ 185,465 during September, and October.
Based upon to the price in Pasay (cities), these have remained the same in the last 6 months. In our first sample month during May, the average price is ₱ 6,559,633. In June This price remains at ₱ 6,658,160. During the following two months (July, August) the price has had an average incrementation from ₱ 6,608,896.5 to ₱ 6,945,891.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of ₱ 6,777,394 and ₱ 6,719,254 between September and October.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,635,422 they are 1 % more affordable than the average price for Pasay. The properties with the highest average price have 4 bedrooms, Their price is 270 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 20,227,016.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 159,219 / m², with an average ₱ 182,726 / m² price in Pasay. The properties with the highest average prices have 3 bedrooms. They are 19 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 201,445 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of ₱ 6,635,422 it is 24 % 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 "House". At a price of ₱ 21,614,820 it is 677 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 77,393 / m² followed by "Townhouse" priced at ₱ 125,614 / m². "Apartment" is the most costly type of property with a ₱ 232,532 / m² cost followed by "Condominium" with an average price of ₱ 189,873 / m².