The prices in real estate in Karachi, in the Sindh region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Karachi has increased strongly during the last 6 months. In October, the average price per sq.feet was Rs. 2,267. In the following month the price per sq.feet increased considerably to Rs. 3,736. In the following two months the price per sq.feet has barely changed, going from Rs. 3,001.5 to Rs. 2,998.5 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of Rs. 3,000 to Rs. 3,056.5 during February y March
Based upon to the price in Karachi (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is Rs. 2.25 crores. During November the price went through a considerable rise reaching Rs. 2.83 crores. During the following two months (December, January) the price has had an average incrementation from Rs. 2.54 crores to Rs. 2.81 crores. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of Rs. 2.67 crores and Rs. 2.8 crores between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 2.89 crores they are 88 % more affordable than the average price for Karachi. The properties with the lowest average price have 4 bedrooms, Their price is 46 % cheaper than the average. After that we have properties with 3 bedrooms priced at Rs. 97.59 lakhs.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of Rs. 6,188 / sq.feet, with an average Rs. 3,610 / sq.feet price in Karachi. The properties with the highest average prices have 4 bedrooms. They are 100 % more expensive than the average followed by properties with 3 bedrooms with a price at Rs. 6,860 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 2.89 crores it is 80 % cheaper than the average price in Karachi. "Apartment" is seen as the second most affordable property type. The cheapest type property is "Residential Plot" followed by "House". At a price of Rs. 2.01 crores it is 23 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of Rs. 2,756 / sq.feet followed by "Apartment" priced at Rs. 6,426 / sq.feet. "Commercial" is the most costly type of property with a Rs. 37,799 / sq.feet cost followed by "House" with an average price of Rs. 19,471 / sq.feet.