The prices in real estate in Lahore, in the Punjab region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Lahore has fallen in the last 6 months. In January, the average price per sq.feet was Rs. 24,846. In February this price pretty much remained the same at a value of Rs. 25,472 per sq.feet. In the following two months the price per sq.feet has barely changed, going from Rs. 25,159 to Rs. 25,519 per sq.feet. The price per sq.feet has had a considerable deflation of 76 % 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. 25,339 to Rs. 19,203 during May, and June.
Based upon to the price in Lahore (cities), this has gone up in the last 6 months. The average price during our first sample month during January, is Rs. 1.02 crores. During February the price went through a considerable rise reaching Rs. 1.19 crores. During the following two months (March, April) the price has had an average incrementation from Rs. 1.1 crores to Rs. 1.2 crores. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from Rs. 1.15 crores to Rs. 1.04 crores in May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 72.19 lakhs they are 59 % more affordable than the average price for Lahore. The properties with the highest average price have 3 bedrooms, Their price is 253 % more costly than the average. After that we have properties with 4 bedrooms priced at Rs. 1.61 crores.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of Rs. 5,611 / sq.feet, with an average Rs. 5,709 / sq.feet price in Lahore. The properties with the highest average prices have 3 bedrooms. They are 299 % more expensive than the average followed by properties with 4 bedrooms with a price at Rs. 10,962 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of Rs. 72.19 lakhs it is 52 % cheaper than the average price in Lahore. "Residential Plot" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Commercial Plot". At a price of Rs. 5.18 crores it is 684 % 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. 2,954 / sq.feet followed by "Land" priced at Rs. 5,516 / sq.feet. "Commercial Plot" is the most costly type of property with a Rs. 4.13 lakhs / sq.feet cost followed by "Apartment" with an average price of Rs. 85,447 / sq.feet.