The prices in real estate in Faisalabad, in the Punjab region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Faisalabad has had a strong decrease during the last 6 months. In March, the average price per sq.feet was Rs. 4,695. In April this price pretty much remained the same at a value of Rs. 4,695 per sq.feet. In the following two months the price per sq.feet has barely changed, going from Rs. 4,695 to Rs. 4,599.5 per sq.feet. The price per sq.feet has had a considerable deflation of 47 % 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. 4,647.25 to Rs. 2,196 during July, and August.
Based upon to the price in Faisalabad (cities), this has fallen considerably in the last 6 months. In our first sample month during March, the average price is Rs. 74.59 lakhs. In April This price remains at Rs. 74.59 lakhs. During the following two months (May, June) the average price had a considerable reduction of 77 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from Rs. 66.19 lakhs to Rs. 21.47 lakhs, which means a 32 % fall.