The prices in real estate in Pasig, 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 Pasig has increased strongly during the last 6 months. In July, the average price per m² was ₱ 80,806. In the following month the price per m² increased to ₱ 87,061. In the following two months the price per m² has increased 110 %, going from ₱ 83,933.5 to ₱ 92,174.5 per m². The price per m² has had a considerable increase of 117 % 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 ₱ 88,054 to ₱ 103,349.5 during November, and December.
Based upon to the price in Pasig (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during July, is ₱ 3,999,811. During August the price went through a considerable rise reaching ₱ 4,650,411. During the following two months (September, October) the average price had a considerable increase of 120 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % 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 ₱ 4,985,960 they are 16 % more affordable than the average price for Pasig. The properties with the highest average price have 4 bedrooms, Their price is 226 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 7,824,594.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 68,612 / m², with an average ₱ 111,763 / m² price in Pasig. The properties with the highest average prices have 1 bedroom. They are 18 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 98,156 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 4,985,960 it is 34 % cheaper than the average price in Pasig. "Condominium" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of ₱ 11,002,030 it is 238 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 38,493 / m² followed by "Townhouse" priced at ₱ 55,313 / m². "Condominium" is the most costly type of property with a ₱ 123,692 / m² cost followed by "Apartment" with an average price of ₱ 81,971 / m².