The prices in real estate in Gujranwala, 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 Gujranwala has had a strong decrease during the last 6 months. In December, the average price per sq.feet was Rs. 25,058. In January this price pretty much remained the same at a value of Rs. 25,058 per sq.feet. The price for the following two months in (February, March) had a considerable decrease of 22 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 18 % 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. 15,318 to Rs. 2,789 during April, and May.
Based upon to the price in Gujranwala (cities), this has gone up considerably in the last 6 months. In our first sample month during December, the average price is Rs. 94.62 lakhs. In January This price remains at Rs. 94.62 lakhs. During the following two months (February, March) the average price had a considerable increase of 229 % 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. 1.56 crores to Rs. 1.08 crores, which means a 70 % fall.