The rent prices in real estate in Karachi, in the Sindh region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Karachi has had a strong fall during the last 6 months. In March, the average price per sq.feet was Rs. 209.2. In the following month the price per sq.feet fell considerably to Rs. 141.19. In the following two months the price per sq.feet has risen 107 %, going from Rs. 175.2 to Rs. 187.02 per sq.feet. The price per sq.feet has fallen 86 % 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. 181.11 to Rs. 155.06 during July, and August.
When referring to the price in Karachi (cities), this has fallen in the last 6 months. In our first sample month during March, the average price is Rs. 93,863. In April This price remains at Rs. 93,538. During the following two months (May, June) the average price had a considerable fall of 82 % with regard to the previous two months. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of Rs. 85,394.25 and Rs. 82,619 between July and August.
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. 76,113 they are 78 % more affordable than the average price for Karachi . The properties with the highest average price have 4 bedrooms, Their price is 37 % more expensive than the average. After that we have properties with 3 bedrooms priced at Rs. 79,600.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of Rs. 30.86 / sq.feet, with an average Rs. 76.88 / sq.feet price in Karachi. The properties with the most expensive average prices have 3 bedrooms. They are 33 % more expensive than the average followed by properties with 4 bedrooms with a price at Rs. 96.02 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of Rs. 76,113 it is 45 % more affordable than the average price in Karachi. "Land" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of Rs. 1.14 lakhs it is 143 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Land" at an average price of Rs. 15.09 / sq.feet followed by "Residential Plot" priced at Rs. 16.64 / sq.feet. "House" is the most expensive type of property with a Rs. 161.99 / sq.feet value followed by "Commercial" with an average price of Rs. 107.95 / sq.feet.