The prices in real estate in Lahore, in the Punjab 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 Lahore has increased strongly during the last 6 months. In October, the average price per sq.feet was Rs. 2,002. In the following month the price per sq.feet increased considerably to Rs. 2,792. The price for the following two months in (December, January) decreased 92 % with regard to the prior two months. The price per sq.feet has increased 113 % 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. 2,301.5 to Rs. 2,611 during February, and March.
Based upon to the price in Lahore (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is Rs. 2.14 crores. During November the price went through a considerable rise reaching Rs. 2.67 crores. During the following two months (December, January) the average price fell 94 % 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 121 % 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. 3.01 crores they are 91 % more affordable than the average price for Lahore. The properties with the lowest average price have 4 bedrooms, Their price is 3 % cheaper than the average. After that we have properties with 3 bedrooms priced at Rs. 1.01 crores.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 140 / sq.feet, with an average Rs. 2,683 / sq.feet price in Lahore. The properties with the lowest average prices have 4 bedrooms. They are 77 % cheaper than the average followed by properties with 3 bedrooms with a price at Rs. 410 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 3.01 crores it is 92 % cheaper than the average price in Lahore. "Apartment" is seen as the second most affordable property type. The dearest property type is "Agriculture Land" followed by "House". At a price of Rs. 3.33 crores it is 15 % 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. 94 / sq.feet followed by "Apartment" priced at Rs. 293 / sq.feet. "House" is the most costly type of property with a Rs. 3,473 / sq.feet cost followed by "Residential Plot" with an average price of Rs. 1,338 / sq.feet.