The rent prices in real estate in Lahore, in the Punjab region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Lahore has risen strongly during the last 6 months. In October, the average price per sq.feet was Rs. 11.91. In the following month the price per sq.feet rose to Rs. 13.57. In the following two months the price per sq.feet has practically remained the same, going from Rs. 12.74 to Rs. 12.76 per sq.feet. The price per sq.feet has had a considerable rise of 132 % 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 sq.feet of Rs. 12.75 to Rs. 16.83 during February, and March.
When referring to the price in Lahore (cities), this has risen in the last 6 months. The rent price in October is Rs. 1.1 lakhs, rising in November till Rs. 1.19 lakhs. In the following two months the average price has hardly changed with regard to the previous two months from Rs. 1.15 lakhs to Rs. 1.18 lakhs. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 118 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of Rs. 1.41 lakhs they are 74 % more affordable than the average price for Lahore . The properties with the highest average price have 4 bedrooms, Their price is 1 % more expensive than the average. After that we have properties with 3 bedrooms priced at Rs. 84,075.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of Rs. 1.79 / sq.feet, with an average Rs. 17.69 / sq.feet price in Lahore. The properties with the most affordable average prices have 3 bedrooms. They are 41 % more affordable than the average followed by properties with 4 bedrooms with a price at Rs. 4.55 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of Rs. 1.41 lakhs it is 61 % more affordable than the average price in Lahore. "Commercial" is seen as the second most affordable property type. The most expensive property type is "Agriculture Land" followed by "House". At a price of Rs. 1.78 lakhs it is 86 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of Rs. 1.73 / sq.feet followed by "Land" priced at Rs. 7.46 / sq.feet. "Agriculture Land" is the most expensive type of property with a Rs. 43 / sq.feet value followed by "Commercial" with an average price of Rs. 27 / sq.feet.