The rent prices in real estate in Lahore, in the Punjab 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 Lahore has had a strong fall during the last 6 months. In September, the average price per sq.feet was Rs. 106.62. In the following month the price per sq.feet fell considerably to Rs. 24.21. The price for the following two months in (November, December) had a considerable fall of 65 with regard to the previous two months. The price per sq.feet has hardly changed in the last two months compared to the average price of the previous four months going from an average price of Rs. 53.87 to Rs. 52.08 during January y February
When referring to the price in Lahore (cities), this has risen in the last 6 months. In our first sample month during September, the average price is Rs. 78,827. In October This price remains at Rs. 76,850. During the following two months (November, December) the average price had a considerable rise of 116 % 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. 84,103.75 and Rs. 85,981 between January and February.
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. 89,663 they are 87 % more affordable than the average price for Lahore . The properties with the lowest average price have 4 bedrooms, Their price is 9 % more affordable than the average. After that we have properties with 3 bedrooms priced at Rs. 50,850.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of Rs. 13.12 / sq.feet, with an average Rs. 71.95 / sq.feet price in Lahore. The properties with the most affordable average prices have 4 bedrooms. They are 58 % more affordable than the average followed by properties with 3 bedrooms with a price at Rs. 23.16 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of Rs. 89,663 it is 74 % more affordable than the average price in Lahore. "Upper Portion" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "Office". At a price of Rs. 1.83 lakhs it is 509 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Upper Portion" at an average price of Rs. 11.22 / sq.feet followed by "Residential Plot" priced at Rs. 27.62 / sq.feet. "Land" is the most expensive type of property with a Rs. 143.38 / sq.feet value followed by "Commercial Property" with an average price of Rs. 107.05 / sq.feet.