The prices in real estate in Pasig, 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 Pasig has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 204,521. In November this price pretty much remained the same at a value of ₱ 210,362 per m². The price for the following two months in (December, January) had a considerable decrease of 82 with regard to the prior two months. The price per m² has had a considerable deflation of 76 % 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 ₱ 189,181 to ₱ 144,394 during February, and March.
Based upon to the price in Pasig (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is ₱ 14,061,080. In November This price remains at ₱ 14,679,262. During the following two months (December, January) the average price had a considerable reduction of 52 % 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 ₱ 10,911,018 to ₱ 6,576,761, which means a 60 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 5,382,249 they are 16 % more affordable than the average price for Pasig. The properties with the highest average price have 4 bedrooms, Their price is 223 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 9,463,408.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of ₱ 83,176 / m², with an average ₱ 121,386 / m² price in Pasig. The properties with the highest average prices have 1 bedroom. They are 20 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 107,689 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 5,382,249 it is 48 % cheaper than the average price in Pasig. "Condominium" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Commercial Lot". At a price of ₱ 55,407,807 it is 998 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of ₱ 58,066 / m² followed by "Apartment" priced at ₱ 62,149 / m². "Office" is the most costly type of property with a ₱ 182,577 / m² cost followed by "Commercial Lot" with an average price of ₱ 172,378 / m².
