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 March, the average price per sq.feet was Rs. 15,303. In the following month the price per sq.feet decreased considerably to Rs. 9,099. The price for the following two months in (May, June) had a considerable increment of 154 %. The price per sq.feet has had a considerable increase of 185 % 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. 15,481 to Rs. 28,573.5 during July, and August.
Based upon to the price in Lahore (cities), these have remained the same in the last 6 months. The price in March is Rs. 1.21 crores, rising in April till Rs. 1.38 crores. During the following two months (May, June) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of Rs. 1.26 crores and Rs. 1.21 crores between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of Rs. 1.16 crores they are 67 % more affordable than the average price for Lahore. The properties with the highest average price have 4 bedrooms, Their price is 43 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 1.08 crores.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of Rs. 8,020 / sq.feet, with an average Rs. 27,995 / sq.feet price in Lahore. The properties with the highest average prices have 2 bedrooms. They are 171 % more expensive than the average followed by properties with 3 bedrooms with a price at Rs. 72,266 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of Rs. 1.16 crores it is 50 % cheaper than the average price in Lahore. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial Plot" followed by "House". At a price of Rs. 2.43 crores it is 220 % 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. 27,718 / sq.feet followed by "Land" priced at Rs. 47,038 / sq.feet. "Commercial Plot" is the most costly type of property with a Rs. 3.15 lakhs / sq.feet cost followed by "Commercial" with an average price of Rs. 1.46 lakhs / sq.feet.