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 April, the average price per sq.feet was Rs. 364.99. In the following month the price per sq.feet fell to Rs. 320.33. The price for the following two months in (June, July) had a considerable fall of 20 with regard to the previous two months. The price per sq.feet has had a considerable fall of 14 % 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. 206.12 to Rs. 29.5 during August, and September.
When referring to the price in Lahore (cities), this has fallen considerably in the last 6 months. The average price for April is Rs. 1.61 lakhs. During May the price had a slight fall till Rs. 1.5 lakhs. During the following two months (June, July) the average price had a considerable fall of 21 % 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. 94,476.75 and Rs. 95,015.5 between August and September.
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. 89,106 they are 81 % more affordable than the average price for Lahore . The properties with the lowest average price have 4 bedrooms, Their price is 21 % more affordable than the average. After that we have properties with 3 bedrooms priced at Rs. 41,544.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most affordable ones at a cost of Rs. 10.77 / sq.feet, with an average Rs. 29.7 / sq.feet price in Lahore. The properties with the most affordable average prices have 4 bedrooms. They are 28 % more affordable than the average followed by properties with 1 bedroom with a price at Rs. 19.51 / sq.feet.
The graph displaying the average rent prices displays the property type "Land" as the most affordable one. At an cost of Rs. 89,106 it is 73 % more affordable than the average price in Lahore. "Residential Plot" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of Rs. 89,163 it is 388 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Residential Plot" at an average price of Rs. 8.94 / sq.feet followed by "Apartment" priced at Rs. 10.17 / sq.feet. "Commercial" is the most expensive type of property with a Rs. 148.79 / sq.feet value followed by "Building" with an average price of Rs. 90.04 / sq.feet.