The prices in real estate in Murree, 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 Murree has increased strongly during the last 6 months. In July, the average price per sq.feet was Rs. 6,745. In the following month the price per sq.feet increased considerably to Rs. 15,856. The price for the following two months in (September, October) had a considerable increment of 2373 %. The price per sq.feet has had a considerable increase of 142 % 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. 1.4 lakhs to Rs. 1.98 lakhs during November, and December.
Based upon to the price in Murree (cities), this has gone downing the last 6 months. In our first sample month during July, the average price is Rs. 65.42 lakhs. In August This price remains at Rs. 63.55 lakhs. During the following two months (September, October) the average price had a considerable increase of 120 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from Rs. 70.82 lakhs to Rs. 32.5 lakhs, which means a 46 % fall.