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 December, the average price per sq.feet was Rs. 5,684. In the following month the price per sq.feet increased considerably to Rs. 8,121. The price for the following two months in (February, March) had a considerable increment of 190 %. The price per sq.feet has had a considerable increase of 456 % 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. 10,009.5 to Rs. 45,608.5 during April, and May.
Based upon to the price in Karachi (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is Rs. 77.13 lakhs. In January This price remains at Rs. 78.15 lakhs. In the following two months the average price has remained the same with regard to the previous two months from Rs. 77.64 lakhs to Rs. 77.49 lakhs. Based on an analysis of the first four prices and the last two months the average price has risen strongly 135 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 1.03 crores they are 65 % more affordable than the average price for Karachi. The properties with the highest average price have 4 bedrooms, Their price is 54 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 99.76 lakhs.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of Rs. 6,342 / sq.feet, with an average Rs. 58,803 / sq.feet price in Karachi. The properties with the lowest average prices have 4 bedrooms. They are 87 % cheaper than the average followed by properties with 3 bedrooms with a price at Rs. 7,017 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 1.03 crores it is 43 % cheaper than the average price in Karachi. "Apartment" is seen as the second most affordable property type. The dearest property type is "Residential Plot" followed by "House". At a price of Rs. 2.05 crores it is 119 % 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. 2,822 / sq.feet followed by "Apartment" priced at Rs. 6,580 / sq.feet. "Commercial" is the cheapest type of property with a Rs. 38,652 / sq.feet value followed by "House" with an average price of Rs. 19,911 / sq.feet.