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 February, the average price per sq.feet was Rs. 4,730. In the following month the price per sq.feet decreased considerably to Rs. 1,980. The price for the following two months in (April, May) had a considerable increment of 2489 %. The price per sq.feet has had a considerable deflation of 72 % 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. 43,426.75 to Rs. 31,225.5 during June, and July.
Based upon to the price in Murree (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is Rs. 1.15 crores. In March This price remains at Rs. 1.11 crores. During the following two months (April, May) the average price had a considerable reduction of 74 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from Rs. 98.16 lakhs to Rs. 84.3 lakhs in June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the most costly ones. At a price of Rs. 65.42 lakhs they are 2 % more expensive than the average price for Murree. Following this ranking we find those properties with 2 at an average price of Rs. 1.43 crores. The properties with the highest average price have 2 bedrooms, Their price is 119 % more costly than the average. After that we have properties with 1 bedroom priced at Rs. 66.5 lakhs.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of Rs. 6,642 / sq.feet, with an average Rs. 6,745 / sq.feet price in Murree. The properties with the highest average prices have 1 bedroom. They are 40 % more expensive than the average followed by properties with 2 bedrooms with a price at Rs. 6,642 / sq.feet.
With regard to the average price based upon the property in Murree we can see that most expensive property type is "Residential Plot" at a price of Rs. 1.43 crores, they are 119 % more costly than the average price of (!PRECIO2!). "Residential Plot" has the highest price. This price is 119 % more expensive than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "Residential Plot with an average price of Rs. 6,642 / sq.feet. "Residential Plot" with an average cost of Rs. 6,642 / sq.feet has the lowest price and would be directed at less affluent cities.