The prices in real estate in Rawalpindi, in the Punjab 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 sq.feet in Rawalpindi has had a strong decrease during the last 6 months. In October, the average price per sq.feet was Rs. 716. In the following month the price per sq.feet decreased considerably to Rs. 595. 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 sq.feet has increased 105 % 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. 595 to Rs. 625 during February, and March.
Based upon to the price in Rawalpindi (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is Rs. 1.16 crores. In November This price remains at Rs. 1.17 crores. During the following two months (December, January) the average price fell 90 % 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 109 % 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 Rs. 1.17 crores they are 51 % more affordable than the average price for Rawalpindi. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 1.02 crores.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of Rs. 7,283 / sq.feet, with an average Rs. 546 / sq.feet price in Rawalpindi. The properties with the highest average prices have 4 bedrooms. They are 39978 % more expensive than the average followed by properties with 2 bedrooms with a price at Rs. 75,851 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 1.17 crores it is 60 % cheaper than the average price in Rawalpindi. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Building". At a price of Rs. 2.59 crores it is 230 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Land" at an average cost of Rs. 2,166 / sq.feet followed by "Apartment" priced at Rs. 7,020 / sq.feet. "House" is the most costly type of property with a Rs. 20.8 lakhs / sq.feet cost followed by "Commercial" with an average price of Rs. 18,865 / sq.feet.