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 January, the average price per sq.feet was Rs. 32.2. In the following month the price per sq.feet rose considerably to Rs. 71.95. The price for the following two months in (March, April) had a considerable fall of 54 with regard to the previous two months. The price per sq.feet has had a considerable rise of 324 % 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. 39.97 to Rs. 129.37 during May, and June.
When referring to the price in Lahore (cities), there have hardly been any changes in the last 6 months. The rent price in January is Rs. 82,299, rising in February till Rs. 89,663. During the following two months (March, April) the average price had a considerable fall of 73 % 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 had a strong increase of 139 % 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. 1.2 lakhs they are 88 % more affordable than the average price for Lahore . The properties with the lowest average price have 4 bedrooms, Their price is 35 % more affordable than the average. After that we have properties with 3 bedrooms priced at Rs. 45,675.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of Rs. 8.51 / sq.feet, with an average Rs. 231.33 / sq.feet price in Lahore. The properties with the most affordable average prices have 4 bedrooms. They are 90 % more affordable than the average followed by properties with 3 bedrooms with a price at Rs. 13.18 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of Rs. 1.2 lakhs it is 79 % more affordable than the average price in Lahore. "Commercial Plot" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Farm House". At a price of Rs. 1.59 lakhs it is 229 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of Rs. 36.55 / sq.feet followed by "Apartment" priced at Rs. 91.48 / sq.feet. "Farm House" is the most expensive type of property with a Rs. 965.33 / sq.feet value followed by "Land" with an average price of Rs. 735.78 / sq.feet.