The rent prices in real estate in Murree, 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 Murree has had a strong fall during the last 6 months. In May, the average price per sq.feet was Rs. 612.2. In the following month the price per sq.feet rose considerably to Rs. 713.56. The price for the following two months in (July, August) had a considerable fall of 20 with regard to the previous two months. The price per sq.feet has fallen 89 % 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. 397.93 to Rs. 355.5 during September, and October.
When referring to the price in Murree (cities), there have hardly been any changes in the last 6 months. The average price during our first sample month during May, is Rs. 2.84 lakhs. During June the price went through a considerable rise reaching Rs. 3.31 lakhs. During the following two months (July, August) the average price had a considerable fall of 63 % 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 153 % during the last two months.
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. 4.54 lakhs they are 80 % more affordable than the average price for Murree . The properties with the lowest average price have 1 bedroom, Their price is 80 % more affordable than the average. After that we have properties with 2 bedrooms priced at Rs. 90,347.
With regard to the average price per sq.feet, those properties with 2 bedrooms are the most expensive ones at a cost of Rs. 899 / sq.feet, with an average Rs. 617 / sq.feet price in Murree. The properties with the most expensive average prices have 1 bedroom. They are 47 % more expensive than the average followed by properties with 2 bedrooms with a price at Rs. 899 / sq.feet.
The graph displaying the average rent prices displays the property type "Residential Plot" as the most affordable one. At an cost of Rs. 4.54 lakhs it is 80 % more affordable than the average price in Murree. "Farm House" is seen as the second most affordable property type. The most affordable property is "Farm House" followed by "Residential Plot". At a price of Rs. 90,347 it is 68 % more affordable than the average price.
According to the average cost per sq.feet, the most affordable property is "Farm House" at an average price of Rs. 262 / sq.feet followed by "Residential Plot" priced at Rs. 899 / sq.feet. "Residential Plot" is the most expensive type of property with a Rs. 899 / sq.feet value followed by "Farm House" with an average price of Rs. 262 / sq.feet.