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 September, the average price per sq.feet was Rs. 25,465. In the following month the price per sq.feet decreased considerably to Rs. 8,390. The price for the following two months in (November, December) had a considerable decrease of 52 with regard to the prior two months. The price per sq.feet has had a considerable increase of 166 % 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. 12,892.5 to Rs. 21,367 during January, and February.
Based upon to the price in Lahore (cities), this has fallen considerably in the last 6 months. The average price for September is Rs. 1.49 crores. During October the price had a considerable reduction till Rs. 76.56 lakhs. During the following two months (November, December) the average price had a considerable reduction of 67 % 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 122 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the most costly ones. At a price of Rs. 90.78 lakhs they are 2 % more expensive than the average price for Lahore. Following this ranking we find those properties with 3 at an average price of Rs. 1.01 crores. The properties with the highest average price have 4 bedrooms, Their price is 122 % more costly than the average. After that we have properties with 1 bedroom priced at Rs. 1.2 crores.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of Rs. 27,605 / sq.feet, with an average Rs. 11,267 / sq.feet price in Lahore. The properties with the highest average prices have 3 bedrooms. They are 436 % more expensive than the average followed by properties with 2 bedrooms with a price at Rs. 49,629 / sq.feet.
The graph displaying the average prices displays the property type "Residential Plot" as the most affordable one. At an cost of Rs. 90.78 lakhs it is 24 % cheaper than the average price in Lahore. "Upper Portion" is seen as the second most affordable property type. The dearest property type is "House" followed by "Land". At a price of Rs. 1.64 crores it is 173 % 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. 5,834 / sq.feet followed by "House" priced at Rs. 20,630 / sq.feet. "Upper Portion" is the most costly type of property with a Rs. 1.42 lakhs / sq.feet cost followed by "Land" with an average price of Rs. 28,381 / sq.feet.