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 July, the average price per sq.feet was Rs. 238.45. In the following month the price per sq.feet rose considerably to Rs. 278.94. The price for the following two months in (September, October) had a considerable rise of 116 %. The price per sq.feet has had a considerable rise of 901 % 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. 279.45 to Rs. 2,517.02 during November, and December.
When referring to the price in Lahore (cities), there have hardly been any changes in the last 6 months. In our first sample month during July, the average price is Rs. 1.24 lakhs. In August This price remains at Rs. 1.22 lakhs. In the following two months the average price has hardly changed with regard to the previous two months from Rs. 1.23 lakhs to Rs. 1.28 lakhs. 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. 1.26 lakhs and Rs. 1.22 lakhs between November and December.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of Rs. 96,050 they are 68 % more affordable than the average price for Lahore . The properties with the lowest average price have 4 bedrooms, Their price is 24 % more affordable than the average. After that we have properties with 3 bedrooms priced at Rs. 40,268.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of Rs. 12 / sq.feet, with an average Rs. 4,285.86 / sq.feet price in Lahore. The properties with the most affordable average prices have 1 bedroom. They are 99 % more affordable than the average followed by properties with 2 bedrooms with a price at Rs. 25 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of Rs. 96,050 it is 69 % more affordable than the average price in Lahore. "Land" is seen as the second most affordable property type. The most expensive property type is "Commercial Plot" followed by "Apartment". At a price of Rs. 2.6 lakhs it is 323 % 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. 7 / sq.feet followed by "Residential Plot" priced at Rs. 20 / sq.feet. "Commercial Plot" is the most affordable type of property with a Rs. 130 / sq.feet value followed by "Apartment" with an average price of Rs. 90 / sq.feet.