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 September, the average price per sq.feet was Rs. 8,498. In the following month the price per sq.feet increased considerably to Rs. 10,482. In the following two months the price per sq.feet has increased 112 %, going from Rs. 9,490 to Rs. 10,601 per sq.feet. The price per sq.feet has had a considerable increase of 285 % 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. 10,045.5 to Rs. 28,616 during January, and February.
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 September, is Rs. 1.29 crores. During October the price went through a considerable rise reaching Rs. 2.02 crores. During the following two months (November, December) the average price had a considerable increase of 116 % 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 risen strongly 127 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of Rs. 2.65 crores they are 80 % more affordable than the average price for Karachi. The properties with the highest average price have 4 bedrooms, Their price is 29 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 1.14 crores.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 6,558 / sq.feet, with an average Rs. 45,646 / sq.feet price in Karachi. The properties with the highest average prices have 4 bedrooms. They are 59 % more expensive than the average followed by properties with 1 bedroom with a price at Rs. 24,043 / sq.feet.
The graph displaying the average prices displays the property type "Residential Plot" as the most affordable one. At an cost of Rs. 2.65 crores it is 81 % cheaper than the average price in Karachi. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of Rs. 1.88 crores it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Residential Plot" at an average cost of Rs. 3,500 / sq.feet followed by "Apartment" priced at Rs. 6,716 / sq.feet. "Commercial Property" is the cheapest type of property with a Rs. 16,431 / sq.feet value followed by "House" with an average price of Rs. 11,741 / sq.feet.