The prices in real estate in Lahore, in the Punjab region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Lahore has had a strong decrease during the last 6 months. In January, the average price per sq.feet was Rs. 31,467. In the following month the price per sq.feet decreased considerably to Rs. 11,267. The price for the following two months in (March, April) had a considerable decrease of 57 with regard to the prior two months. The price per sq.feet has increased 112 % 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. 16,784 to Rs. 18,761 during May, and June.
Based upon to the price in Lahore (cities), this has gone downing the last 6 months. The average price for January is Rs. 1.39 crores. During February the price had a considerable reduction till Rs. 90.78 lakhs. During the following two months (March, April) the price has had an average incrementation from Rs. 1.15 crores to Rs. 1.3 crores. 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. 1.22 crores and Rs. 1.22 crores between 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. 1.22 crores they are 54 % more affordable than the average price for Lahore. The properties with the highest average price have 4 bedrooms, Their price is 68 % more costly than the average. After that we have properties with 3 bedrooms priced at Rs. 1.12 crores.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of Rs. 7,975 / sq.feet, with an average Rs. 28,968 / sq.feet price in Lahore. The properties with the lowest average prices have 4 bedrooms. They are 11 % cheaper than the average followed by properties with 3 bedrooms with a price at Rs. 13,132 / sq.feet.
The graph displaying the average prices displays the property type "Farm House" as the most affordable one. At an cost of Rs. 1.22 crores it is 44 % cheaper than the average price in Lahore. "Residential Plot" is seen as the second most affordable property type. The dearest property type is "Commercial Plot" followed by "House". At a price of Rs. 2.9 crores it is 177 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Farm House" at an average cost of Rs. 4,975 / sq.feet followed by "Land" priced at Rs. 7,713 / sq.feet. "Commercial Plot" is the most costly type of property with a Rs. 2.76 lakhs / sq.feet cost followed by "House" with an average price of Rs. 43,955 / sq.feet.