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 July, the average price per sq.feet was Rs. 57.71. In the following month the price per sq.feet fell considerably to Rs. 29.29. The price for the following two months in (September, October) had a considerable fall of 55 with regard to the previous two months. The price per sq.feet has had a considerable fall of 44 % 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. 33.68 to Rs. 14.76 during November, and December.
When referring to the price in Lahore (cities), this has risen considerably in the last 6 months. The average price during our first sample month during July, is Rs. 29,256. During August the price went through a considerable rise reaching Rs. 1.01 lakhs. During the following two months (September, October) the average price had a considerable rise of 119 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from Rs. 71,415.5 to Rs. 58,656.5, which means a 82 % fall.
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. 59,563 they are 77 % more affordable than the average price for Lahore . The properties with the lowest average price have 4 bedrooms, Their price is 11 % more affordable than the average. After that we have properties with 3 bedrooms priced at Rs. 32,075.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of Rs. 6.61 / sq.feet, with an average Rs. 15.22 / sq.feet price in Lahore. The properties with the most expensive average prices have 4 bedrooms. They are 2 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 14.48 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of Rs. 59,563 it is 58 % more affordable than the average price in Lahore. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Building" followed by "Residential Plot". At a price of Rs. 75,167 it is 356 % 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. 5.7 / sq.feet followed by "Apartment" priced at Rs. 7.42 / sq.feet. "Building" is the most expensive type of property with a Rs. 71.7 / sq.feet value followed by "Commercial" with an average price of Rs. 46.24 / sq.feet.