The prices in real estate in Porac, in the Pampanga 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 Porac has had a strong decrease during the last 6 months. In October, the average price per m² was ₱ 46,808. In November this price pretty much remained the same at a value of ₱ 47,453 per m². The price for the following two months in (December, January) had a considerable decrease of 69 with regard to the prior two months. The price per m² has decreased 90 % 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 ₱ 39,868.25 to ₱ 35,897 during February, and March.
Based upon to the price in Porac (cities), this has gone up considerably in the last 6 months. In our first sample month during October, the average price is ₱ 6,185,004. In November This price remains at ₱ 6,105,249. During the following two months (December, January) the average price had a considerable increase of 139 % 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 risen strongly 128 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of ₱ 9,289,057 they are 32 % more affordable than the average price for Porac. The properties with the highest average price have 1 bedroom, Their price is 23 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 7,774,965.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of ₱ 40,600 / m², with an average ₱ 39,643 / m² price in Porac. The properties with the highest average prices have 2 bedrooms. They are 175 % more expensive than the average followed by properties with 1 bedroom with a price at ₱ 92,091 / m².
The graph displaying the average prices displays the property type "Lot" as the most affordable one. At an cost of ₱ 9,289,057 it is 23 % cheaper than the average price in Porac. "House" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₱ 7,523,519 it is 31 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Lot" at an average cost of ₱ 30,769 / m² followed by "House" priced at ₱ 74,930 / m². "Villa" is the most costly type of property with a ₱ 77,134 / m² cost followed by "House" with an average price of ₱ 74,930 / m².
