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Cost Per m² Formula:
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Cost Per Square Metre is a metric used in construction and real estate to compare the relative cost of properties or construction projects by standardizing costs to a per-unit area basis. It's particularly useful in the Philippines where property sizes vary significantly.
The calculator uses a simple formula:
Where:
Explanation: This calculation standardizes costs to a per-unit area basis, allowing for fair comparison between properties or projects of different sizes.
Details: This metric is crucial for property buyers, real estate investors, and construction professionals to evaluate value for money, compare different properties, and budget construction projects effectively in the Philippine market.
Tips: Enter the total cost in PHP and the area in square metres. Both values must be positive numbers. The calculator will compute the standardized cost per square metre.
Q1: What's the average cost per square metre in the Philippines?
A: This varies greatly by location (Metro Manila vs provinces) and property type, ranging from PHP 15,000 to PHP 100,000+ per m² for residential properties.
Q2: Does this include land cost?
A: The calculator can be used for construction costs alone or total property cost including land - be consistent in what you include in "Total Cost".
Q3: How accurate is this for renovation projects?
A: It works for renovations but remember that per m² costs are typically higher for renovations than new construction due to smaller scale and existing structure constraints.
Q4: Should I use gross or net area?
A: For construction costs, use gross floor area. For property purchase comparisons, net usable area may be more relevant.
Q5: How does this compare to cost per square foot?
A: 1 square metre = 10.764 square feet. To convert, divide PHP/m² by 10.764 to get PHP/sq ft.