The prices in real estate in Karachi, in the Sindh 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 Karachi has had a strong decrease during the last 6 months. In March, the average price per sq.feet was Rs. 70,734. In April this price pretty much remained the same at a value of Rs. 69,602 per sq.feet. The price for the following two months in (May, June) had a considerable decrease of 29 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 56 % 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. 45,306.75 to Rs. 25,398 during July, and August.
Based upon to the price in Karachi (cities), this has fallen considerably in the last 6 months. The average price for March is Rs. 3.89 crores. During April the price had a considerable reduction till Rs. 3.25 crores. During the following two months (May, June) the average price had a considerable reduction of 17 % 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. 2.1 crores to Rs. 98.36 lakhs, which means a 47 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 1.24 crores they are 60 % more affordable than the average price for Karachi. The properties with the highest average price have 4 bedrooms, Their price is 219 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 1.29 crores.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 7,542 / sq.feet, with an average Rs. 30,017 / sq.feet price in Karachi. The properties with the highest average prices have 4 bedrooms. They are 255 % more expensive than the average followed by properties with 3 bedrooms with a price at Rs. 18,187 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of Rs. 1.24 crores it is 47 % cheaper than the average price in Karachi. "Residential Plot" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of Rs. 2.7 crores it is 179 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of Rs. 7,762 / sq.feet followed by "Apartment" priced at Rs. 8,001 / sq.feet. "House" is the most costly type of property with a Rs. 92,333 / sq.feet cost followed by "Residential Plot" with an average price of Rs. 23,992 / sq.feet.